The Business Times, 19 May 2015
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2015-05-19
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The Business Times
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Title Section34 2015-05-19 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 $h A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg [3 I D@BTBreakingnews CO REGN NO *****2868E MCI (P) 05’!/O8/2014 Tuesday, May 19,201534 words
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Article, Illustration248 2015-05-19 1 The chief economist of the Bank of Japan offers an upbeat assessment of the short-term prospects for the world’s third-largest economy.TOP STORIES 2 IF Singapore is to improve on its service standards, says Prime Minister Lee Hsien Loong, all stakeholders companies, service staff and customers have to do248 words
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Article28 2015-05-19 1 MARKETS Monday Change STI 3,459.57 -3.53 KL COMP 1,823.50 +11.58 NIKKEI 225 19,890.27 +157.35 HANG SENG 27,591.25 -231.03 SHENZHEN B 1,555.89 +24.42 DOW (11.45am EDT) 18,289.47 +16.9128 words
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Article, Illustration641 2015-05-19 1 Chuang Peck Ming - Modest showing far cry from 18.5% rise in March, but still surprises as market had expected a 5% contraction By Chuang Peck Ming peckming@sph.com.sg @PeckmingB NON-OIL domestic exports failed to maintain their momentum of March, with year-on-year growth in April slumping back toSource: IE Singapore - 641 words
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1100 2015-05-19 1 Lynette Khoo - By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore LEGISLATIVE changes to the Housing Developers (Control and Licensing) Act will now require developers to provide detailed sales data on a weekly basis and disclose the value of any benefits to buyers in transaction1,100 words
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Advertisement122 2015-05-19 1 8 "*****1 *****4 GIC IN SEOUL GIC to buy Seoul mall with Canadian fund for US$263m TOP STORIES 6 Carrier CALIBRE DE CARTIER DIVER MANUFACTURE MOVEMENT 1904 MC WATER-RESISTANT TO 300 METRES, THE CALIBRE DE CARTIER DIVER WATCH IS AN AUTHENTIC DIVING WATCH. FITTED WITH THE 1904 MC MOVEMENT, IT122 words
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Advertisement23 2015-05-19 1 CBRE HOTELS S’pore hotel market to stay challenging REAL ESTATE 12 STRATEGIC MOVE Digiland forms energy-trading joint venture in Malta COMPANIES MARKETS 723 words
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Advertisement11 2015-05-19 1 SCCCI REACHES OUT SMEs told to adapt, be pro-active SME 2611 words
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TOP STORIES
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Article, Illustration699 2015-05-19 2 Anthony Rowley - Falling oil prices seen shaving over 10t yen from energy bill, more than the 8t yen hit from last year’s sales tax hike By Anthony Rowley btworld@sph.com.sg Tokyo THE chief economist of the Bank of Japan (BOJ) on Monday offered an upbeatPHOTO: AFP - 699 words
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878 2015-05-19 2 Hugo Dixon - By Hugo Dixon SM REUTERS BREAKINGVIEWS V*. London REFORMING the European Union involves more than renegotiating the UK’s relationship with it. That may sound like a statement of the obvious, but in the British debate over staying in the EU, the two have virtuallySM REUTERS BREAKINGVIEWS V*. - 878 words
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722 2015-05-19 2 BLOOMBERG Athens GREEK banks are running short on the collateral they need to stay alive, a crisis that could help force Prime Minister Alexis Tsipras’ hand after weeks of brinkmanship with creditors. As deposits flee the financial system, lenders use collateral parkedBLOOMBERG - 722 words
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Article, Illustration766 2015-05-19 4 Lee U-Wen - Businesses, service staff and customers all have a role to play in transforming the service industry; nation’s service culture “not quite where we want to be yet” By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore IF Singapore is to improve on its servicePHOTO: DESMOND WEE/ THE STRAITS TIMES - 766 words
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433 2015-05-19 4 Jacquelyn Cheok - By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE Ministry of Education (MOE) on Monday launched Enhanced Post-Di-ploma Certificate (PDC) courses in areas such as information and communication technologies (ICT), engineering and the applied sciences all designed to deepen the skills of those who433 words
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408 2015-05-19 4 Kelly Tay - By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE on Monday signed two memorandums of understanding (MOUs) one on cyber security with France, and another on trade-mark cooperation with China. The former is the Cyber Security Agency of Singapore’s (CSA) first international MOU. It408 words
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Article, Illustration428 2015-05-19 6 Kenneth Lim - investment reflects confidence in long-term growth of Korean domestic demand, says GIC By Kenneth Lim kenlim@sph.com.sg @KennethLimBT GIC and the Canada Pension Plan Investment Board (CPPIB) have bought the retail mall portion of South-Kore-an megacomplex D-Cube City for US$263 million,PHOTO: D-CUBE CITY - 428 words
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525 2015-05-19 6 Claire Huang - By Claire Huang huangjy@sph.com.sg @ClaireHuangBT FACED with persistent low interest rates, insurers need to proactively seek solutions to beat the blues, said analysts, adding that they could either reprice products or adjust new business guarantees or bonuses to reflect the market525 words
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Advertisement27 2015-05-19 2 Save up to 50% Now on! Sale ends 7 June 2015 spacefurniture.asia Open 10.30am to 8.00pm daily Space Furniture 77 Bencoolen Street, Singapore *****3 +*****5 0000 SPAC27 words
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Advertisement371 2015-05-19 4 Broadcasthsia2B15 0ammuninnsia2II15 [ntErnriseMT2ai5 www.Broadcast-Asia.com LEVEL 4 5 www.CommunicAsia.comwww.goto-enterpriselT.com BASEMENT 2, LEVEL 1 &3 2 5 JUNE 2015 MARINA BAY SANDS, SINGAPORE Asia's most comprehensive showcase of innovative technologies in the ICT, Entertainment and Broadcasting industries Witness the most comprehensive and updated range of innovative technologies 3D Printing Cameras Lenses Lighting371 words
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Advertisement297 2015-05-19 5 (formerly known as CitySpring Infrastructure Trust) CREATING the flagship investment platform for SINGAPORE INFRASTRUCTURE KEPPEL MERLIMAU COGEN PLANT (Approved acquisition; expected to be completed by 3Q 2015) SENOKO WTE PLANT CITY GAS KEPPEL SEGHERS TUAS WTE PLANT Keppel Infrastructure Trust (KIT) is the largest Singapore infrastructure-focused business trust listed on297 words
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Advertisement561 2015-05-19 6 Formula For Workplace Success: Dress Right, Influence Positively, Reach Out Optimally Who should attend: Managers, Directors, Business Owners, Sales Professionals and Executives. FULL-DAY WORKSHOPS Brain-Influencing Secrets To Trigger 'Yes' Responses In People In the past 10 years, scientific discoveries have uncovered new communication keys one can use to appeal to561 words
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COMPANIES & MARKETS
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619 2015-05-19 7 Chan Yi Wen - Partnership with Maltese agency to develop Malta into a Europe-Asia energy trading hub By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore DIGILAND International, an ailing IT company which a year ago announced plans to transform itself into an oil and gas player, has entered619 words
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Article, Illustration420 2015-05-19 7 Jacquelyn Cheok - HOT STOCK Source: Yahoo By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SHARES of mainboard-listed Internet stock YuuZoo surged in active trading on Monday, closing the day 21.4 per cent or S$0.037 up at S$0.21. The stock opened trading 0.1 Singapore cent higher at420 words
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344 2015-05-19 7 Jamie Lee, Jacquelyn Cheok - By Jamie Lee, Jacquelyn Cheok leejamie@sph.com.sg jaccheok@sph.com.sg @JamieLeeBT @JacCheokBT Singapore THE Ascott, CapitaLand’s wholly owned serviced residence business unit, on Monday said that it plans to almost double its apartment units in Europe by 2020, and that this could344 words
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Article, Illustration381 2015-05-19 8 Jacquelyn Cheok - IDA says it will not tolerate tactics that may bring disrepute to the telco industry By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGTEL on Monday was issued a “stern warning” by the Infocomm Development Authority of Singapore (IDA) for the telco's role inST FILE PHOTO - 381 words
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757 2015-05-19 8 BLOOMBERG Kuala Lumpur MALAYSIA’S top-performing fund manager is adding to holdings of the nation’s small-cap stocks, betting that a bull-market rally will continue as earnings improve and valuations trail larger peers. Kenanga Investors Bhd favours exporters and builders as the USBLOOMBERG - 757 words
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398 2015-05-19 8 Kelly Tay - By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore EZION Holdings has rejected as “frivolous and without merit” claims that it was behind a conspiracy to induce an AP Moeller-Maersk unit to breach charter agreements. On Monday, Bloomberg had reported that Atlantic Marine Services BV (AMS) had398 words
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CORPORATE DIGEST
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Article59 2015-05-19 8 JILIN Midas Aluminium Industries a Midas Holdings subsidiary has secured contracts worth 328.9 million yuan (S$70.1 million) for the supply of highspeed train car body components in China. “Slated for delivery in 2015, the contracts are expected to contribute positively to Midas’ financial performance for the financial year59 words
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Article67 2015-05-19 8 FRESHLY listed Boustead Projects has been awarded a S$34 million contract to design and build an integrated commercial and logistics facility for World Furnishing Hub. The seven-floor facility to be located in the Sungei Kadut Industrial Estate in Singapore will be completed in Q3 2016. Listed on the67 words
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Article50 2015-05-19 8 KEPPEL Seghers has handed over Phase 2 of the Runcorn Energy-from-Waste (EfW) facility in the UK to the client. Keppel Seghers comprising Keppel Seghers Belgium NV and Keppel Seghers UK Ltd is a wholly owned subsidiary of the Keppel Infrastructure group, which is a division of Keppel Corporation.50 words
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Article66 2015-05-19 8 TAN Kim Han Raymond has resigned as the chief financial officer (CFO) and company secretary of SIIC Environment Holdings, with effect from May 15, 2015. While the company will appoint executive director Xu Zhan as CFO, it said it would “continue to find a suitable candidate to66 words
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318 2015-05-19 9 Jacquelyn Cheok - The plant, using Hyflux technologies, will supply drinking water to residents of Pun Hlaing Golf Estate By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore MAINBOARD-LISTED Yoma Strategic Holdings on Monday announced the opening of a potable water plant at Pun Hlaing Golf318 words
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479 2015-05-19 9 Larsen Toubro ready to help infotech unit scale up in preparation for its IPO BLOOMBERG Mumbai LARSEN Toubro Ltd, India’s biggest engineering company, is open to spending as much as US$1 billion on acquisitions for its software-services unit as the subsidiary prepares for an initial public offering. Buying companies willBLOOMBERG - 479 words
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516 2015-05-19 9 BLOOMBERG Hong Kong COFCO Corp, China’s largest food company, has invited investment banks to submit proposals for a possible group restructuring, people with knowledge of the matter said. The Beijing-based firm, which controls eight listed companies, will consider combining units and sellingBLOOMBERG - 516 words
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Article, Illustration721 2015-05-19 10 R Sivanithy - HK slide contributes to weakness; traders latch on to situational plays such as Ezion, which falls 4.6% TTSTOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE main difficulty dealers have faced in the past year is finding suitable adjectives to describe the local market printable ones, that is.Source: Bloomberg - 721 words
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Article308 2015-05-19 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 250 unch 252/249 271 219 5.8 6321.9 CapitaLand 353 +3 353/346 379 293 12.9 2.5 *****.8 CapitaMall Trust 219 unch 220/218 228 188.5 4.9 7598.7 CityDev 1021 -1 1025/1015 1095 915 12.3308 words
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Article33 2015-05-19 10 VOLUME Digiland Intl 270,881,000 Yuuzoo 70,973,000 Jaya 70,183,000 SinoConstruction 55,823,900 IHC 52,467,400 Market volume 1,919,646,000 VALUE Singtel 97,690,407 CapitaLand 42,123,378 Ezion 39,333,398 Keppel Corp 36,280,489 Genting Sing 31,343,274 Market value 971,860,00033 words
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Article107 2015-05-19 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US745 +6 330 746/742 1000/696 746/747 93.1 STI ETF 350 213 351/349 355/319 349/350 UETF SSE50China 291 -4 62 295/289 318/140 290/294 90.9 ABF SG Bond ETF 114.4 -0.6 45 115.4/114.4 123.5/110.2107 words
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Article77 2015-05-19 10 May 18 VALUE CLOSE BT OB/OS -355.00 +130.00 BT CADI -*****.00 +34.00 BT 10-day MA -*****.00 -36.00 FTSE ST Mid Cap 789.52 +0.79 FTSE ST Small Cap 496.50 +2.36 FTSE ST All Share 830.09 -0.30 FTSE ST China Top 212.12 +0.62 FTSE ST China 248.07 +0.51 FTSE77 words
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Article75 2015-05-19 10 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 179.8 0.6 *****/***** GLD US$ ***** 129.6 0.8 *****/***** DBXT S&P500 US$ 3591 47.6 1.0 3626/3097 Lyxor MS India US$ 1635 33.1 1.6 1840/1546 Lyxor LATAM US$ 572 21.2 2.9 773/519 BY PERCENTAGE CLOSE UP 52w high/low Metech Intl75 words
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Article, Illustration35 2015-05-19 10 STI FTSE ST All-Share FTSE ST All-Share index May 18,2015 830.09 -0.30 (-0.04%) Current streak 1 day Day high 831.12 Day low 828.39 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (OCt 16, 2014)35 words
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Article, Illustration33 2015-05-19 10 STI MSCI EAFE MSCI EAFE index May 15,2015 1,949.49 +7.02 (+0.36%) Current streak 3 days Day high 1,955.51 Day low 1,940.31 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)33 words
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Article186 2015-05-19 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 7 3 0 0 0 4 7 3 Manufacturing 53 40 40 8 13 9 61 53 49 Commerce 20 24 16 4 4 3 24 28 19 Tpt/Stor/Comms 15 16 10186 words
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Article123 2015-05-19 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,837 12,837 59,194 59,194 Manufacturing 182,738 51,013 233,751 96,647 7,288 103,935 Commerce 364,360 63,035 427,395 38,791 2,874 41,664 Tpt/Stor/Comms 187,142 150 187,292 196,070 10 196,080 Finance 26,153 254 26,407 112,152 46 112,198 Construction 95,261 11,504123 words
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Article74 2015-05-19 10 BY CENTS CLOSE DOWN 52w high/low JMH USD 6153 -128.3 -1.6 6788/5700 DBXT MSTHAI US$ 2043 -96.5 -3.4 2300/1886 DBXT Vietam US$ 2250 -84.6 -2.8 3100/2250 DBXT China50 US$ 4001 -60.8 -1.1 4258/2795 Lyxor ChinaH US$ 1889 -48.9 -1.9 2041/1280 BY PERCENTAGE CLOSE DOWN 52w high/low Innopac W*****0 0.174 words
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Article81 2015-05-19 10 VOL CLOSE($) CHANGE Infinio 15,985.1 0.003 +0.001 +50.00 PNE Industries 585.0 0.159 +0.024 +17.78 LifeBrandz 24,020.0 0.002 -0.001 -33.33 China Sports 23,138.3 0.022 +0.003 +15.79 OLS 31,472.0 0.007 +0.001 +16.67 Luzhou Bio-Chem 650.0 0.028 +0.005 +21.74 Kingboard Copper 1,335.7 0.176 +0.024 +15.79 Lizhong Wheel 260.0 0.335 +0.040 +13.5681 words
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Article453 2015-05-19 10 Jamie Lee - Compiled by Jamie Lee Ezion Holdings Sell May 18 close: S$1.13 Target price: S$0.88 KGI Fraser Research, May 18 The deteriorating rig market from the oversupply has caused us to be more bearish on the offshore rig sector, especially owners of old assets. We see Ezion’s drilling rigs453 words
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387 2015-05-19 11 CURRENCIES REUTERS London THE US dollar clawed its way higher on Monday, recovering from almost four-month lows reached late last week on another surprisingly bad round of US economic data. Against the euro, it rose 0.4 per cent to US$1.1404, taking back a small portionREUTERS - 387 words
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FOREX RATES
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Article471 2015-05-19 11 May 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.963 4.960 0.702 6.198 50.883 105.069 0.957 8.681 2.856 1.078 81.518 35.572 1.058 9.468 0.736 24.330 26.697 0.510 0.800 Canada 1.038 5.151471 words
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Article155 2015-05-19 11 May 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0569 1.0584 0.7993 0.7998 Canadian dollar 1.0976 1.0989 0.8304 0.8301 Euro 1.5062 1.5076 1.1391 1.1393 NZ dollar 0.9805 0.9819 0.7415 0.7420 Sterling pound 2.0738 2.0759 1.5683 1.5687155 words
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Article23 2015-05-19 11 May 18 S$ S$ Bid Offer 1-month 1.3227 1.3240 2-months 1.3231 1.3245 3-months 1.3237 1.3248 6-months 1.3251 1.3267 Source: OCBC23 words
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EQUITY BONDS WARRANTS FUTURES
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205 2015-05-19 11 May 18 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left WE Holdings Ltd W*****5 0.2 unch ***** 1 0 3 FTSEChinaA50 ***** MBeCW*****0 6.6 -1.5 3839 0.0 --2 KepCorp MB eCW*****1 8.7 0.1 3256 0.2 930 4205 words
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373 2015-05-19 11 In local curr In S$ In US$ dy yr dy yr dy yr May 15 Index Change Change Change Change Change Change World Preliminary 1353.1 0.0 6.1 0.1 5.1 0.1 5.6 EAFE Preliminary 1094.3 0.2 10.9 0.4 9.4 0.4 9.8 Europe Preliminary 1527.5 -0.3 10.6373 words
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Article395 2015-05-19 11 May 18 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.45 *****.45 *****.09 May15 *****.00 *****.50 *****.00 *****.00 *****6 *****8 Jun15 *****.50 *****.00 *****.00 *****.50 ***** ***** NIKKEI 225 INDEX FUTURES SPOT *****.16 *****.27 *****.22 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****6 Sep15395 words
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BANK RATES
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Article36 2015-05-19 11 May 18 1 mth 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** SOLIVCSI THDTHSOI7 RQUTGFS36 words
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Article154 2015-05-19 11 May 18 $S Offer Bid 0vernight 0.05 0.03 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.03 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.70 0.50 12154 words
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Article67 2015-05-19 11 May 18 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.56 102.58 102.58 5-Year N*****0H 1.625 01-Oct-19 100.39 10-Year NY*****H 3.000 01-Sep-24 106.51 106.70 106.55 15-Year NY*****E 2.875 01-Jul-29 103.28 103.45 103.45 20-Year NZ*****V 3.375 01-Sep-33 108.54 108.78 108.7867 words
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AGRI METALS ENERGY
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Article193 2015-05-19 11 May-15 Price Net change change Last Trade Agricultural May-15 CBOT Soybeans (US cents/bu) 953.25 -3.75 -0.39% 14/07/2015 CBOT Soybean Oil (US cents/lb) 33.07 -0.27 -0.81% 14/07/2015 CBOT Wheat (US cents/bu) 511.00 -3.25 -0.63% 14/07/2014 May-15 LIFFE Cocoa (£/tonne) 2068.00 19.00 0.93% 16/07/2015 LIFFE Coffee (US$/tonne) 1701.00 -3.00 -0.18%193 words
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Article57 2015-05-19 11 May 18 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 15 2180.0 2189.0 2195.0 2177.0 1666 ***** Jun 15 2175.0 2187.0 2193.0 2172.0 8362 ***** Jul 15 2175.0 2182.0 2188.0 2169.0 ***** ***** Aug 15 2181.0 2184.057 words
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Page 7 Advertisements
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Advertisement297 2015-05-19 7 A New Milestone For A Great Journey IG Logistics Group is appointed the exclusive Shipping Logistics provider at Bintan Industrial Estate (BIE) for a period of 5 years with an option of another 5 years, with effect from 18 May 2015. Our new Landing Craft Transporter (LOT) IG SunTzu is297 words
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Advertisement219 2015-05-19 8 Wholesale Investor and ShareInvestor are proud to host the Singapore Capital Expo and Small Cap Showcase 2015. With our partners Bloomberg, SGX, PwC, DLA Piper, NZTE and AusBiotech, we will bring together up to 500 high net worth, professional and international investors, executives, brokers, fund managers, media and industry participants219 words
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Advertisement79 2015-05-19 8 The first real estate and urban build conference in Myanmar LT> o CM I nTjanmar Incorporating: Myanmar retail Urban and City Planning Conference 2015 Real Estate Show Myanmar 2015 3-5 August 2015 Yangon, Myanmar I m i A Your gateway to trends and investment opportunities in Myanmar's real estate For79 words
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Advertisement61 2015-05-19 8 Hospitality Investment Conference Indian Ocean Maldives Mauritius Seychelles Sri Lanka 25-26 May 2015 Galle Face Hotel, Colombo A New Era sN Group bookings available too! Enjoy up to 20% discount* if you sign up in groups of 3 or 6. *Terms and conditions apply To register, visit www.hicio.sphereconferences.com or contact61 words
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Advertisement166 2015-05-19 9 MBFC TOWER 2 PSA BUILDING SIX BATTERY RD Bi SUNTEC TOWER 3 9 THE METROPOLIS SINGAPORE’S FINEST SERVICED OFFICES Fully furnished prestigious offices Business registration offices available Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries Global IT infrastructure 5 days free at any location166 words
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Advertisement1046 2015-05-19 9 FIRST COMMERCIAL BANK, LTD. (Incorporated with limited liability in Taipei, Taiwan, R.O.C.) CONSOLIDATED BALANCE SHEETS as of December 31, 2014 and 2013 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME for the years ended December 31, 2014 and 2013 NT$,000 2014 2013 ASSETS Cash and cash equivalents 59,483,428 52,528,179 Due from the Central1,046 words
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REAL ESTATE
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548 2015-05-19 12 Nisha Ramchandani - It cites high prices and limited asset supply, adding that investors turned more cautious in Q1 By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THE Singapore hotel market will likely remain challenging for buyers in the short term due to the high548 words
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Article, Illustration1316 2015-05-19 12 NYT London JOYCE Ge, a student from China who is studying business management at King’s College, pays £880 (S$ 1,830) a month to live in a pint-size, stylish studio apartment in the far reaches of east London, in a building withNYT; PHOTO: ANDREW TESTA/THE NEW YORK TIMES - 1,316 words
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486 2015-05-19 12 Kips Bay Show House looks like a million bucks make that US$35m WP New York STEPPING onto the cool champagne marble floor in the octagonal foyer of the seven-storey townhouse at 58 E 66th St, you can’t imagine that you’re going to feel at home. But wait is that redWP - 486 words
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Article, Illustration662 2015-05-19 13 But there is little change from March, adding to hopes that a property downturn is bottoming out CHINA PROPERTY MARKET REUTERS Hong Kong CHINA’S new home prices fell for the eighth consecutive month in April from a year earlier butREUTERS; PHOTO: REUTERS - 662 words
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607 2015-05-19 13 BLOOMBERG Hong Kong THE US$19.2 billion of share sales this year by Chinese developers is proving a boon for bondholders, boosting not only the indebted companies’ cash levels but also their ability to repay creditors. The equity offerings by homebuilders sinceBLOOMBERG - 607 words
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Page 12 Advertisements
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Advertisement139 2015-05-19 12 RARE OPPORTUNITY Large Factory in Ang Mo Kio for Sale Site area Approx. 16,500 sq m 177,604 sq ft Built-up area Approx. 31,730 sq m 341,539 sq ft 2014 Master Plan Zoning Business 2, Plot Ratio 2.5 Tenure 60yrs wef 1/4/1981 Balance 26 years) Suitable for Corporate SME expansion Centrally139 words
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Advertisement312 2015-05-19 12 RARE OPPORTUNITYTO ACQUIRE A PORTFOLIO OF FREEHOLD SHOPHOUSES a ii Ml I SOO CHOW WALK, OFF UPPERTHOMSON ROAD TANJONG KATONG ROAD TANJONG KATONG ROAD SOUTH BUONAVISTA ROAD SOUTH BUONAVISTA ROAD FIGARO STREET, OFF UPPER EAST COAST ROAD A 2-storey corner plot •Approx.2,000sf 3,800sf Dual road frontage Tenanted I st storey312 words
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Advertisement19 2015-05-19 12 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices19 words
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Advertisement406 2015-05-19 13 Tai Seng Avenue A 7-storey industrial building Located within the Raya Lebar iPark Land Area; 27,000 sq ft (approx.) Gross Floor Area: 68,000 sq ft (approx.) JTC balance lease of 51 years Short walk to Tai Seng MRT Station Suitable for media industry FOR SALE BY EXPRESSION OF INTEREST Closing:406 words
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Advertisement480 2015-05-19 13 For Sale By Expressions of Interest Childcare Eldercare Space with Prominent Road Frontage Jurong Rd Bukit Timah Nature Reserve Old Bukit Regency Springdale Southaven I Southaven II Jalan Anak Bukit German European School Cheong Chin Nam Rd Yuk TongAve Charisma View Grand Chateau Royal Court Grand Regency Ground floor space480 words
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BANKING & FINANCE
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Article, Illustration905 2015-05-19 15 Managers choose instead to invest their vast personal wealth via “family offices” NYT New York FOR decades, nearly everything that billionaire Julian Robertson touched turned to gold. Mr Robertson, founder of the hedge fund Tiger Management, seeded a network of hugely successful “TigerNYT; PHOTO: BLOOMBERG - 905 words
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628 2015-05-19 15 BLOOMBERG New York IT WAS supposed to be so easy. Borrow in euros as the European Central Bank kept interest rates near zero and use the proceeds to invest in the economies where rates are higher, pocketing the difference and generatingBLOOMBERG - 628 words
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Article387 2015-05-19 15 BLOOMBERG Caracas VENEZUELA’S economic collapse is driving factories out of business, leaving store shelves barren and wiping out workers’ purchasing power. But MasterCard Inc is doing just fine. Two powerful forces are pushing Venezuelans to rely increasingly on credit cards amid the chaos: runaway inflation andBLOOMBERG - 387 words
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Advertisement490 2015-05-19 15 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices Rabobank Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. Head Office Croeselaan 18, 3521 CB Utrecht, The Netherlands Singapore Branch 38 South Beach Road #31-11 South Beach Tower Singapore *****7 EXECUTIVE BOARD Wiebe Draijer (W.), Chairman From 1 October 2014 Rinus Minderhoud (M.), Chairman490 words
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ENERGY & COMMODITIES
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Article, Illustration755 2015-05-19 16 It comes amid claims that world’s biggest miners are flooding market to drive smaller competitors out of business AFP Sydney THE huge iron ore industry in Australia faces the threat of a parliamentary inquiry amid claims the world’s biggest miners, includingAFP; PHOTO: REUTERS - 755 words
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Article446 2015-05-19 16 BLOOM BERG London THE World Bank’s private lending arm is targeting investments in natural gas companies in China, the largest growing market for the fuel. The International Finance Corp (IFC) is investing US$150 million in gas distribution company China Tian Lun Gas Holdings LtdBLOOMBERG - 446 words
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Article, Illustration400 2015-05-19 16 BLOOMBERG New York SPECULATORS are losing faith in the oil rally, judging that Opec will keep increasing supply from the highest level since 2012. Their net-long position in West Texas Intermediate crude dropped 2.1 per cent, as long wagers fellBLOOMBERG; PHOTO: BLOOMBERG - 400 words
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311 2015-05-19 16 REUTERS Kuala Lumpur IRAN hopes its crude oil exports will return to pre-sanctions levels within three months once a deal with major powers to lift an oil embargo is finalised, the country’s deputy oil minister said on Monday. “We hopeREUTERS - 311 words
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Advertisement1454 2015-05-19 16 BANK OFTAIWAN Head Office Address: No. 120, Sec. 1, Chongqing South Road, Zhongzheng District, Taipei City *****, Taiwan (R.O.C.) Tel: 886-2-2349-3456 BOARD OF DIRECTORS Chairperson Lee, Jih-Chu Managing Directors Shiau, Chang-Ruey, Wu, Tang-Chieh, Yang, Cheng-Chen Independent Managing Director Hsu, Yi-Hsiung CONSOLIDATED BALANCE SHEETS Unit NT$1,000 Dec 31, 2014 Dec 31,1,454 words
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TECHNOLOGY
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895 2015-05-19 17 US administration faces end-of-May deadline to decide whether to take sides in case before US Supreme Court REUTERS San Francisco THE Obama administration has been locked in internal wrangling over what position to take in high-profile litigation between two American technologyREUTERS - 895 words
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Article, Illustration668 2015-05-19 17 NYT MOSCOW FEW people looking to buy a trendy, state-of-the-art smartphone anywhere in the world today would even think about a Russian model, but the makers of the YotaPhone aspire to change that. The startup’s quest to break into theNYT; PHOTO: BLOOMBERG - 668 words
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483 2015-05-19 17 NYT New York FOR many of the largest Silicon Valley technology companies, location software undergirds numerous applications and features in their products. For Apple, it has been a game of catch-up. To that end, Apple confirmed on Sunday that it had purchased CoherentNYT - 483 words
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Advertisement282 2015-05-19 17 Z20t 12.5" Detachable Ultrabook™ with 17.4 Hour Battery Life* ir-: o i. redact award 2015 winner DETACHABLE Toshiba recommends Windows. Toshiba Digitizer Pen Included (Certifed by Wacom) ULTRAPORTABLE rE=T\ Complete Connectivity to a wide range of devices Micro HDMI {on Tablet) VGA HDMI (on Keyboard) For Corporate Reseller Corporate Inquiries,282 words
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CONSUMER
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Article, Illustration860 2015-05-19 18 Last year, it took in almost US$6 billion in sales in the US and made up 40 per cent of the company’s global revenue NYT New York FOR years, Stefan Larsson was Gap’s worst nightmare, as he ledNYT; PHOTO: BLOOMBERG - 860 words
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211 2015-05-19 18 REUTERS Shanghai CHINESE e-commerce giant JD.com Inc has tied up with leading Chinese drugmaker Shanghai Pharmaceuticals Holding Co Ltd to develop its online healthcare business, the drugmaker said in a filing on Monday. The move reflects a growing rivalry between Chinese e-commerceREUTERS - 211 words
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575 2015-05-19 18 AFP Washington JET.COM has yet to launch its online retail site to the public, but has already drawn attention as a would-be game-changer that could take on Internet giant Amazon. Jet has raised US$220 million so far for an e-commerce service withAFP - 575 words
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Advertisement0 2015-05-19 18 ~&.[='>$[:'[?])>\|}!(}'/!-/~(]>0 words
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Advertisement514 2015-05-19 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 (S 296(1)) AND IN THE MATTER OF LUX LEISURE PTE. LTD. (IN PROVISIONAL LIQUIDATION) UEN *****4915G (THE "COMPANY”) NOTICE OF CREDITORS’ MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act (Cap. 50) (the “Act"), a meeting514 words
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Advertisement354 2015-05-19 18 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF BOOKABURRA BOOKS PTE LTD (PROVISIONAL LIQUIDATOR APPOINTED) Company Registration No. *****2626D NOTICE OF MEETING OF CREDITORS Notice is hereby given that pursuant to Section 296 of the Companies Act Cap. 50, a meeting of the creditors354 words
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Advertisement26 2015-05-19 18 SINGAPORE BLOG AWARDS if so m sp m is m 2 0 15 I 0* cl ■flL^ REGISTER NOMINATE A BLOG NOW sgblogawards.omy.sg Organiser: (J www.omy.sg26 words
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GOVERNMENT & ECONOMY
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Article, Illustration1122 2015-05-19 19 James Tobin’s Q ratio indicates equities in US are valued about 10% above cost of replacing their underlying assets BLOOMBERG New York IF you sold every share of every company in the United States and used the money to buyBLOOMBERG; PHOTO: AFP - 1,122 words
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428 2015-05-19 19 Jiangsu province auctions 52 billion yuan of three to 10-year municipal bonds REUTERS Shanghai CHINA’S Jiangsu province auctioned 52.2 billion yuan (S$11.2 billion) of three to 10-year municipal bonds on Monday at close to sovereign yields, offering some reassurance thatREUTERS - 428 words
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452 2015-05-19 19 REUTERS Yangon UP to five companies are expected to list on Myanmar’s stock exchange when it opens in October, according to an official overseeing the creation of a market that will help develop an economy stifled by 49 years of military rule.REUTERS - 452 words
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636 2015-05-19 20 Overseas investors who have experienced Chinese corporate failures feel they are treated like a nuisance; uptick in filings seen as country’s slowdown continues REUTERS Hong Kong AS China’s economy slows and Beijing becomes more relaxed about letting its companies fail, a rising numberREUTERS - 636 words
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Article, Illustration420 2015-05-19 20 AFP Seoul INDIAN Prime Minister Narendra Modi arrived in Seoul on Monday for a two-day visit heavily focused on economic ties with Asia’s fourth-largest economy and beefing up investment from South Korean firms. Following talks with President Park Geun-Hye,AFP; PHOTO: AFP - 420 words
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257 2015-05-19 20 REUTERS Hong Kong FOREIGN investors have welcomed assurances by China’s securities watchdog that their shareholding rights are recognised in the country, in a development that should boost trading on a landmark Hong Kong-Shanghai trading link. The so-called Stock Connect project went live in November,REUTERS - 257 words
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Article, Illustration1249 2015-05-19 20 BLOOMBERG Hong Kong IN its quarterly report, the People’s Bank of China questioned the merits of transparency, saying too much openness could lead to “pressure from various sides”. Such a stance and its unscheduled policy moves come as governor ZhouBLOOMBERG; PHOTO: BLOOMBERG - 1,249 words
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Article, Illustration773 2015-05-19 21 Key to increasing economic growth above current 2.5% pace is investment by firms outside resource industry BLOOMBERG Sydney AUSTRALIA retains scope to lower interest rates further, the central bank’s second in command said, while warning against spurring a debt-fuelledBLOOMBERG; PHOTO: BLOOMBERG - 773 words
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478 2015-05-19 21 BLOOMBERG Bangkok THAILAND’S economy barely grew last quarter as rising government spending failed to counter falling exports and weakening local demand. The outlook for the rest of the year isn’t that much better. Gross domestic product rose 0.3 per cent in theBLOOMBERG - 478 words
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843 2015-05-19 21 Three of country’s five biggest banks report increase in soured assets for year ended March 31 BLOOMBERG Mumbai STRESSED assets of Indian lenders are seen rising to the highest in at least 14 years and Bank of Baroda’s chief executive officerBLOOMBERG - 843 words
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912 2015-05-19 21 NYT Kiev, Ukraine THE country is on the cliff of bankruptcy. A spate of politically motivated killings and mysterious suicides of former government officials has sown fear in the capital. Infighting has begun to splinter the pro-Eu-ropean majority coalition inNYT - 912 words
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Advertisement14 2015-05-19 21 AIIBtohold three-day working meeting inS'pore thisweek To subscribe, call 6388-3838 or go to sphsubscription.com.sg14 words
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OPINION
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517 2015-05-19 22 ACCORDING to an NBC News/Wall Street journal opinion poll conducted in 2014, 42 per cent of Americans picked Bill Clinton as the president they admired the most, followed by current president Barack Obama at 18 per cent. EDITORIAL517 words
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Article, Illustration781 2015-05-19 22 Robert J Samuelson - THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP THIS is no time to get all worked up over China’s currency manipulation. To use it as an excuse to resist the Obama administration’s pro-trade posture is perverse. This oppositionTHE WASHINGTON POST WRITERS GROUP - 781 words
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Article, Illustration1347 2015-05-19 22 Leon Hadar - The legislative process of the US Congress on the Trans-Pacific Partnership bill is likely to be long and very messy and ugly, with no guarantee that it will actually be passed in the end By Leon Hadar THE legendary German Chancellor Otto vonPHOTO: REUTERS - 1,347 words
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881 2015-05-19 23 Dominic Montagu - COMMENTARY By Dominic Montagu T The writer is associate professor of epidemiology at the University of California, San Francisco THIS week, health ministers from around the world gather in Geneva for the annual meeting of the World Health Organization (WHO). While881 words
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904 2015-05-19 23 Tan Siang Hee - By Tan Siang Hee T The writer is executive director of CropLife Asia, a non-profit society and regional arm of CropLife International, the voice of the global plant science industry. FOR many businesses in Singapore and the region, Earth Day on April904 words
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Article, Illustration1277 2015-05-19 23 GIRIJA PANDE - If his recent charm offensive in China works, he could bring in more Chinese investments into Indian manufacturing.BY GIRIJA PANDE manufacturing.BY GIRIJA PANDE T The writer is chairman of Apex Avalon Consulting, Singapore, and ex-chairman of Tata Consultancy inPHOTO: AFP - 1,277 words
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TRANSPORT
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Article, Illustration867 2015-05-19 24 More vehicles recalled with no agreement between Takata and carmakers on cost split REUTERS Tokyo AIR BAG manufacturer Takata Corp and Japanese carmakers including Honda Motor Co are locked in the commercial equivalent of a bad marriage; not entirely happy in each other’sREUTERS; PHOTO: AFP - 867 words
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822 2015-05-19 24 BLOOMBERG Beijing THE horrific incident shocked the country when it went viral in China earlier this month: a woman dragged from her car, thrown to the ground and kicked repeatedly in the face and head in a caseBLOOMBERG - 822 words
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Article, Illustration455 2015-05-19 24 BLOOMBERG New York THERE’S nothing like a good old Detroit bragging contest. General Motors Co’s (GM) bread-and-butter Chevrolet brand took the wraps off its new Camaro, revealing a performance version that tops the Ford Mustang’s by 20 horsepower. GM is boastingBLOOMBERG; PHOTO: REUTERS - 455 words
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854 2015-05-19 24 NYT New York IT IS a natural question, one that many people have raised before, and have raised again since Tuesday’s fatal Amtrak crash in Philadelphia: Should trains have seat belts? Transportation experts have asked that question, too, in studiesNYT - 854 words
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Article979 2015-05-19 25 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10 Jul 15 Jul979 words
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Advertisement195 2015-05-19 25 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 Announce Your Corporate Development Come195 words
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SME
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Article, Illustration1176 2015-05-19 26 FIONA LAM - SCCCI also wooing young entrepreneurs by changing public perception that it’s a solely Chinese-speaking organisation. BY FIONA LAM BY FIONA LAM fionalam@sph.com.sg IN today’s business environment, small and medi-um-sized enterprises (SMEs) must bite the bullet and adapt or risk being phased out. That isPHOTO: SHAWN TEO - 1,176 words
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1085 2015-05-19 26 MARTIN ROLL - Winning brands thrive because they are aligned with strategic objectives and adapt over time. BY MARTIN ROLL COMMENTARY BY MARTIN ROLL T The writer is a business brand strategist, and the founder of Martin Roll Company T This article first appeared on INSEAD Knowledge WHEN1,085 words
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EMERGING ENTERPRISE 2015
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Article, Illustration1190 2015-05-19 27 KELLY TAY - It’s time they treat prospective employees like prospective customers, says consultant Danny Lai. BY KELLY TAY kellytay@sph.com.sg @KellyTayBT FOR years, companies have spent their research money on efforts to analyse consumers the products they like, the reasons behind those preferences, and theirPHOTO: YEN MENG JIIN - 1,190 words
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Advertisement113 2015-05-19 27 Competitive ■I Resilience Business Vision e Edge Scalability Of Business rong People anaqement St ritegy Unique Value Proposition With up to S$1.km worth of prizes, you’ll have the support you need to realise your business plans. Applications close on June 9,2015. Apply today at www.EEaward.com Emerging /Enterprise Award THE BUSINESS113 words
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LIFE & CULTURE
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Article, Illustration1088 2015-05-19 28 Children of founder of Olayan Group help to run the company with interests in oilfield services, steel and fast food among others BLOOMBERG London IN HER Saudi Arabia homeland, Lubna Olayan can’t drive, show her hair in public or leaveBLOOMBERG; PHOTO: BLOOMBERG - 1,088 words
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Article, Illustration615 2015-05-19 28 AFP Lagos GILES Peppiatt, from Bonhams in London, had good reason to make the trip to Nigeria’s financial capital, Lagos, for the auction house’s next sale of African art a glut of potential buyers. On a recent visit, he described Africa asAFP; PHOTO: AFP - 615 words
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541 2015-05-19 28 WP Washington THERE are certain television tropes about computer scientists that just drive programmers nuts. They include the portrayal of coders as sun-starved and soft-bellied nerds who spend long hours alone in front of their computers. And, almost always,WP - 541 words
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Advertisement31 2015-05-19 28 4Want access to BBQ pits? If you're looking for your dream condo complete with facilities, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988.31 words
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Page 28 Miscellaneous
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Miscellaneous302 2015-05-19 28 CRYPTIC CROSSWORD Across 1 A doctor tucking into mother’s curry (6) 5 Marxist film offers nothing before starting course (4,4) 9 Food on board ship for a horse (10) 10 Time for fruit (4) 11 Pest is hidden by shade (8) 12 Perfect surface texture (6) 13 Fine Greek character302 words
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