The Business Times, 25 May 2007
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2007-05-25
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The Business Times
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Title Section20 2007-05-25 1 THE BUISNESS TIMES Friday, May 25,2007 MICA (P) 202/12/2006 online at http://business-times.asial.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION SINGAPORE 85 cents20 words
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Article, Illustration681 2007-05-25 1 AFP, Reuters [SHANGHAI] Investors yesterday received another series of warnings about the perils of China's stock market frenzy, with the Organisation for Economic Cooperation Development (OECD) echoing former US Federal Reserve chief Alan Greenspan's comments that a sharp correction could be on theAFP,; Reuters - 681 words
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Article17 2007-05-25 1 Dsn 3,530.26 (-28.75) ST INDEX FUTURES 3,530.00 (-29.00) siMsa 436.09 (-4.21) SIMSa FUTURES 435.50 (-3.90)17 words
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616 2007-05-25 1 OH BOON PING - Some Sesdaq firms say cost of staying listed could become prohibitive By OH BOON PING [SINGAPORE! Cost remains a key concern among most Sesdaq-listed firms following the Singapore Exchange's proposed changes to the listing rules announced on Wednesday. Even though the SGX has yet616 words
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Page 1 Advertisements
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Advertisement101 2007-05-25 1 OPINION The truth about Sino-US relations PAGE 19 Enjoy! JIHiiV The Singapore Arts Festival on and The Business Times is joining in the celebration. To mark the month-long festival that begins today, BT has come up with an Arts Festival 2007 magazine featuring personalities and trends in Singapore arts. We101 words
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Advertisement44 2007-05-25 1 GASTRONOMY *~mM 4 What's cooking t(P in Bangkok PAGE 27 OFFICE SPACE S'pore rents up 53%year-on-year PAGE 9 All the right moves PAGE 3 Lawyers keen to sponsor firms PAGE 3 Marie-Christine Lombard, group managing director of TNT In the Raffles Conversation tomorrow A44 words
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TOP STORIES
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Article, Illustration522 2007-05-25 2 CHEN HUIFEN - Move aims to attract trading clusters to Singapore Reports by CHEN HUIFEN [SINGAPORE] Singapore is offering concessionary tax rates to companies trading in liquefied natural gas (LNG) and carbon emissions, to help attract new trading clusters here. Announcing a series of new initiatives522 words
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313 2007-05-25 2 ARTHUR SIM - The venture will invest in Japan's retail properties By ARTHUR SIM [SINGAPORE] GIC Real Estate has formed a joint venture with Sumitomo Corporation to invest up to US$l.3 billion (Ss2 billion) in retail properties in Japan, making it one of that country's313 words
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Article41 2007-05-25 2 IN the report 'Paramount Hotel site being sold for $200 million' (BT, May 24), we said the site was on the government's safeguard list. This is incorrect. The site is not on the list. We are sorry for the error.41 words
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423 2007-05-25 2 [SINGAPORE] Singapore was prepared to support a smaller University of New South Wales (UNSW) campus here, Trade and Industry Minister Lim Hng Kiang said yesterday. The Economic Development Board did not reject UNSW's proposal for a 2,000-student campus and in fact423 words
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Article892 2007-05-25 3 TEH HOOI LING - PROPOSED SGX CHANGES HOCK LOCK SIEW By TEH HOOI LING BUILD it, and they will come. That's what the Singapore Exchange (SGX) is banking on with its proposal to transform Sesdaq into a sponsor-supervised board in the mould of London's Alternative Investment Market (AIM). And from892 words
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171 2007-05-25 3 —AFP [BANGKOK] Thailand's influential king yesterday warned dissolving the two main political parties would damage the country's image, commenting that the post-coup situation was "not good at all". Speaking at Chitralada palace here, King Bhumibol Adulyadej urged Thailand's top judges to act—AFP - 171 words
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Article520 2007-05-25 2 Lawyers keen to sponsor companies on growth board LAWYERS are keen to sponsor companies on the new growth board, saying they are well suited for the job. Stamford Law Corporation director Yap Wai Ming says sponsorship mainly involves ensuring that companies comply with Singapore Exchange listing requirements. "Most520 words
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451 2007-05-25 3 WEE LI-EN - By WEE LI-EN [SINGAPORE] Lawyers are keen to sponsor companies on the new growth board, saying they are well suited for the job. Stamford Law Corporation director Yap Wai Ming says sponsorship mainly involves ensuring that companies comply with Singapore Exchange (SGX)451 words
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Page 2 Advertisements
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Advertisement95 2007-05-25 2 Your Spirit And Passion jph, Projecting Your Profile I Hhß |H H H HHHb fc^^B v >-••. W *3s* k*»»**'fNv•>'«"• e^ii y^B |H Wm BB B B B Hp jy B |P s active Craftsmanship in Motion... Emerge from the ordinary with the Galue, a perfectly crafted masterpiece that will95 words
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Advertisement102 2007-05-25 3 Bin I f&w I 11 nu niiiiiniin MAKE A MARK FOR YOURSELF. The Jaguar XJ isn't all about technological breakthroughs. Its about a driving experience that never allows technology to overwhelm. Its about getting behind the wheel and knowing Jaguar XJ with every fibre of your being that you're in102 words
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COMPANY NEWS
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382 2007-05-25 4 CONRAD TAN - By CONRAD TAN THE current boom in global equity markets is "perfectly normal" and still has some way to go, said the head of a global asset management group yesterday. Roger Yates, chief executive of London-based Henderson Group, said the382 words
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394 2007-05-25 4 Boardroom woes not about battle for control, she says THE four independent directors (IDs) and the chief executive of Yellow Pages have a friendly relationship with the two directors seeking to unseat them, independent director Helen Yeo says. "This YP situation is a very394 words
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Article, Illustration449 2007-05-25 6 UMA SHANKARI - By UMA SHANKARI SINCERE Watch plans to capitalise on the rising Asian demand for luxury goods to expand its presence across the region, the company said yesterday. Group managing director Tay Liam Wee told BT that the group plans to open more449 words
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369 2007-05-25 6 SIOW LI SEN - Independent directors agree with IFA the price is not attractive By SIOW LI SEN INDEPENDENT directors of Carats Ltd, the former Daka Designs, have recommended that shareholders reject a partial offer by Galleria Resources. They agree with the recommendation of the independent financial369 words
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Article2573 2007-05-25 6 UNIT TRUSTS FUNDS ABEi«i*irenn«8TEl* 734/ OWSKaoiQbtoWaAO® 106* 47V *MS«i6o«A—: 13g KS&S&SSU 0 .n££ lOtanani ~7Sjjt AfEuuplnamAa* 7121 WrttorSbteWCL ISGD 1062 V \*M «rh)Ca*N* J# ££££!S£Sf i3 2&I2!2LS2« m 463 WElfCVlTOm ,8Hj« TJD oMNnftKMrattaAuso *****/ va St<»*MA £5£f± 222?«- iK£ S2Sti£ wa ii2£>*« SSUKStli 2KX AJN Am Awl Mgt .VpwV MfanplnameAUSD2,573 words
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388 2007-05-25 7 OH BOON PING - Shift of focus to high-end wireless communication solutions pays off By OH BOON PING A SHIFT in strategy to focus on high-end wireless communication solutions paid off for Addvalue Technologies as it swung from a $22.8 million net loss the previous year388 words
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Article345 2007-05-25 7 One-time gains boost Cougar's net profit BOOSTED by one-time gains totalling $7.27 million, Cougar Logistics' net profit for its financial year ended March 31 rose nearly three-fold to $10.3 million. Revenue climbed 5.9 per cent to $46.6 million. The one-time gains comprise $6.9 million from the disposal of345 words
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295 2007-05-25 7 RONNIE LIM - By RONNIE LIM RESOURCES and mining group Straits Asia Resources will continue with its foray into oil and gas exploration and production (E&P). "There is no change in the strategic direction of the company," a spokesman told BT yesterday after it295 words
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Article, Illustration470 2007-05-25 4 WEE LI-EN - Revenue up 1.6% but higher investment costs set company back Reports by WEE LI-EN YELLOW Pages (Singapore) yesterday reported a 13.1 per cent fall in net profit to $12.6 million for the financial year ended March 31. Revenue inched up 1.6 perYEN MENG JIIN - 470 words
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374 2007-05-25 4 Joint investment gives SIA benefits: Morgan Stanley Bloomberg TEMASEK Holdings, a Singapore investment company, may join its unit Singapore Airlines Ltd (SIA) to bid for a stake in China Eastern Airlines Corp, Morgan Stanley said. A joint investment with Temasek, which owns 56Bloomberg - 374 words
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Advertisement260 2007-05-25 5 Located in the prestigious enclave of Bukit Pantai, Bangsar f lies Kuala Lumpur's epitome of luxury living. Expect a modern 1| V J tropical landscape by Karl Princic, designerto Asia's best L# f Akitek, and a custom-designed kitchen by' Master Chef Cheong who has been the Medal of Order of260 words
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Page 6 Advertisements
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Advertisement37 2007-05-25 6 Allianz Global Investors ■i. i i i *>: 11 1 1 1 score with the star players VSP) IN EMERGING MARKETS FRANKLIN TEMPLETON j Call your Financial Advisor today or visit www.franklintempleton.com.sg INVESTMENTS I BIZ REGN NO.: *****5211E37 words
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Page 7 Advertisements
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Advertisement95 2007-05-25 7 Sn HjfUmay So4lo KuaU Lunpw. Tft: ♦GOT-WOI 211M119 I SfeUSPOf® if. Anothei Prestigious Development By: Dmiop* cm bUu s* M(M«7«) bom No iiiwoovnn v**, mod I f uNhAflfl MflfiitMt AaUCa M ✓''jJllnivN CE>. 2m-l 3/2)0*2007 (It)* l/11(200fc-7/l 1/2007 I_TIWTPM> ■U >» m W WWPJ DEVELOPMENT 'S 7 SSiSsSaiSSi HK A95 words
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SINGAPORE MARKETS
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Article, Illustration535 2007-05-25 8 TEH HOOI LING - STOCKS ST Index falls 0.8 per cent after the former Fed chief compounds fears of a China stock bubble TEH HOOI LING Senior Correspondent RETIRED US Federal Reserve chairman Alan Greenspan still packs a punch when it comes to having an impact on financial marketsSource: Bloomberg - 535 words
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Article, Illustration967 2007-05-25 8 SECURITIES TRADING SCOREBOARD MAIN SOQ TOTAL U» Bow Ut> Up Down Unth Up Pown Urvch Multilnd 3 9 5 0 0 1 3 9 6 Minufntufing 33 128 53 8 23 20 41 151 73 Commerce 11 48 18 2 6 10 13 54 28 Tpt/Stor/Com ms 12 23 7967 words
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Article, Illustration991 2007-05-25 8 CONRAD TAN - Compiled by CONRAD TAN Telecoms Sector MS GROUP RESEARCH, May 24 THE telecoms sector te a beneficiary of healthy domestic economic outlook, influx of foreign workers and tourists, and returns through capital management With Singapore's drive to boost its population to 6.5 million in the long term fromSource: Bloomberg - 991 words
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Article, Illustration522 2007-05-25 8 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent IT WAS the turn of the British pound to lead gains versus the US dollar yesterday, but the Chinese yuan and Malaysian ringgit were also able to post fresh post-depeg highs. As widely expected, this week's two-day Sino-USSource:Reuters - 522 words
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SINGAPORE NEWS
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316 2007-05-25 9 DANIEL BUENAS - By DANIEL BUENAS FOR fiscal year 2007, some 800,000 households will receive $210 million worth of Service Conservancy Charges (S&CC), rental and Utilities-Save (U-Save) rebates as part of the QST Offset Package announced in the Budget Statement 2007. The rebates will be316 words
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Article, Illustration674 2007-05-25 10 PAMELA CHEW - NTUC showcases four firms where both employers and staff have gained By PAMELA CHEW THE National Trades Union Congress (NTI'Q yesterday showcased four companies' wage restructuring efforts, leading to a win-win situation for both the companies and their workers ham Hui Fong. NTUC674 words
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492 2007-05-25 10 LIN ZHAOWEI - Retaining talent a problem for some firms: E&Y survey By LIN ZHAOWEI THE outlook for Singapore's job market remains highly positive on the back of a robust economy. And according to the results of Ernst Young's (E&Y) inaugural Singapore Internal Audit Survey released492 words
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253 2007-05-25 10 CONTACT lens practitioners and optometrists who know the eye-relatfd dangers of smoking are more than twice as likely to ask clients whether they smoke and advise them to cut down or stop, a survey has shown. And in the wake of the survey conducted by the253 words
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328 2007-05-25 10 PAMELA CHEW - By PAMELA CHEW MUCH more could be accomplished by the public relations, marketing and advertising industries if they fostered closer ties with one another, a panel heard yesterday. Asked which is more effective marketing. PK or advertising panelist Palani Pillai. group328 words
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195 2007-05-25 10 TO cater to the region's growing biofuel industry. Germany's Oiltanking will spend $15 million on its first biofuel storage tanks in Singapore. Oiltanking. which has invested more than $500 million in an 8.45 million barrel oil storage terminal on Jurong Island, yesterday signed195 words
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Article, Illustration398 2007-05-25 10 UMA SHANKARI - By UMA SHANKARI TAKINGS from this year's Great Singapore Sale (GSS) are expected to outdo last year's $5 billion by about 5 per cent, the Singapore Retailers Association (SRA) said yesterday. Sales this time around are expected to be boosted by better tourismARTHUR LEE - 398 words
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Article, Illustration439 2007-05-25 10 ROLAND LIM - By ROLAND LIM IX) you have a great idea to explore in the digital media space? Well, you might just be able to get up to $50,000 from the Media Development Authority (MDA) to kickstart the project. Its latest $40439 words
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556 2007-05-25 9 KALPANA RASHIWALA - Rents here jumped 53.6% year-on-year to US$67.97 psf per annum: CBRE report By KALPANA RASHIWALA THE latest evidence of fast escalating office rentals in Singapore is provided by a CB Richard Ellis report which shows that office rents on the island are556 words
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Page 9 Advertisements
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Advertisement145 2007-05-25 9 www.wineculture.com.sg anh&JrLrst sale It's our 7th anniversary. And to celebrate this bountiful year, we're offering our cboiciest wines at discounts of up to 40%. From 24 May to 9 June. Contact us for a complete < wine list os>p^> Wine Culture Re Ltd a leading fine and rare wine merchant145 words
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ECONOMY WATCH
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297 2007-05-25 11 Bloomberg INHW YOKKI The SHC has approved rules that will make it easier for additional cred-it-rating companies to gain federal recognition and compete with Standard Poor's and Moody's Investors Service. The plan, adopted on Wednesday by the US Securities and Kxchange Commission, was promptedBloomberg - 297 words
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Article, Illustration630 2007-05-25 11 —Reuters, AP [WASHINGTON] US lawmakers stepped up pressure on China over trade on Wednesday, giving mixed reviews to high-level economic talks and urging China's top economic envoy to address complaints about China's currency. The powerful House of Representatives Ways and Means Committee told Vice-Premier—Reuters,; AP - 630 words
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Article356 2007-05-25 11 As long as savings stay high, currency will remain weak Reuters [PAßlS] China's currency would appreciate if Beijing allowed the yuan to trade more freely but the yuan will remain a structurally weak currency as long as people save so much, OECD chiefReuters - 356 words
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703 2007-05-25 11 ANTHONY ROWLEY - With projected growth of 2.4%, it can cope with stronger currency By ANTHONY ROWLEY in Tokyo JAPAN'S economy is strong enough now to cope with a stronger currency, and the authorities should not resist any upward pressure on the yen, the IMF703 words
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Page 11 Advertisements
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Advertisement119 2007-05-25 11 see thefrffy picture iTh ink software I Evans Peck will be running 2 workshops designed for beginners those with some modelling experience to equip them with the knowledge to explore real business problems using STELLA and iThink. The leading facilitators have won numerous awards and commendations across various industries including119 words
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Advertisement1135 2007-05-25 11 SHINHAN BANK (INCORPORATED IN THE REPUBUC OF KOREA) CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF INCOME December 31,2006 and 2005 For the years ended December 31,2006 and 2005 2006 2005 2006 2005 Millions of Millions of Millions of Millions of Korean Won Korean Won Korean Won Korean Won Assets Interest income1,135 words
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MALAYSIA/INDONESIA
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570 2007-05-25 12 S JAYASANKARAN - By S JAYASANKARAN in Kuala Lumpur FOUR years after the project was first mooted, the shareholders of a RMI.4 billion (Ss63l million) petroleum and bunkering facility on a 100-acre reclaimed island off the west coast of Johor remain undecided. Bankers familiar with the570 words
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254 2007-05-25 12 Bloomberg [KUALA LUMPUR] Genting Bhd. Asia's largest publicly traded casino operator, said first-quarter profit more than doubled after income from gaming and power climbed as it expanded overseas. Net income rose to RM656.7 million (*****.9 million), or 17.8 sen a share, in the three— Bloomberg - 254 words
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495 2007-05-25 12 [KUALA LUMPUR] A steady rebound in shares of Transmile Group Bhd was interrupted by a research report that questioned the number of planes it has, a claim the air transport firm said was inaccurate, says a report in Malaysia's Business Times. The stock,495 words
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224 2007-05-25 12 Reuters [JAKARTA] A unit of Indonesia's largest instant noodle maker, PT Indofood Sukses Makmur Tbk, will acquire plantation firm, PT London Sumatra Tbk (Lonsum), a source close to the deal said yesterday. Lonsum, one of the oldest plantation firms in Indonesia and focused on— Reuters - 224 words
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Article2531 2007-05-25 12 VOL May 24 KM *1- (000) AIM Realty 2.26 unch 71 AbfK Bhd ...0.2a -0.02 63 Advance Synergy .0.30 -0.01 474 AdventaBhd 120 -004 603 Ae Multi Hldgs .0.31 -0.01 120 Affin Holdings ..2J5 -0.01 1529 AhmadZakiRetou 2.92 unch 65 AicCorp .0.57 -0.01 137 AirasiaBhd 196 0.03 82522,531 words
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Article, Illustration504 2007-05-25 12 PAULINE NG - Top 40 now worth US$46b from US$26b last year, says Forbes Asia By PAULINE NG in Kuala Lumpur A RISING stock market has made Malaysia's richest people a lot richer. The country's top 40 tycoons are now worth US$43 billion. up from US$26AP, FILE PHOTO - 504 words
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Page 12 Advertisements
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Advertisement87 2007-05-25 12 Panasonic Made by Panasonic, Tuned by Hollywood PTAX Aneon Audko #01-19 The Adelphi Tel: 6883-1020 •AV On*. #01-10 The Adelphi. Tel. 6337-0080 #02-03 Awwlde Industrial Building, 6382-2288 •01 -17 Sim lim Tower. Tat 9396-0567 Home Theeire Experience by Hewko. #03-36 Sim Ltm Square. Tel; 6337-8466 1 6337-0095 Seng Hang Electrical.87 words
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GREATER CHINA
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388 2007-05-25 13 —AP [BEIJING] Authorities have detained 28 people after thousands of farmers rioted to protest against fines levied on those who had more children than allowed under China's family planning policy, state media said. Between 300 and 3,000 people were involved in the—AP - 388 words
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177 2007-05-25 13 -AFP {BEIJING] Millions of Chinese computers may have been paralysed by a faulty anti-virus update from Symantec, the world's largest security software provider, state media reported yesterday. An automatic update to the Chinese version of the Norton anti-virus software sent out-AFP - 177 words
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466 2007-05-25 13 —Bloomberg [BEIJING] China's Gansu province, where President Hu Jintao cut his teeth as an official 30 years ago, has spent more than 100 billion yuan (Ss2o billion) upgrading its industries since 2002 and will spend as much in the next five years, its governor—Bloomberg - 466 words
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Article249 2007-05-25 13 —Reuters [LONDON] GlaxoSmithKline is set to unveil plans for a major research and development centre in China, joining a growing number of pharmaceutical companies tapping into the country's skillbase in life sciences. Research head Moncef Slaoui told the annual meeting of Europe's biggest drug—Reuters - 249 words
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196 2007-05-25 13 Bloomberg [BEIJING] Nanjing Automobile Group Corp, the Chinese maker that took over MG brand, said it is discussing with Fiat SpA about terminating a venture that makes passenger vehicles in China. "We are in discussion with Fiat," Nanjing Auto's spokesman Liu Ningsheng saidBloomberg - 196 words
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661 2007-05-25 13 Lin Yuan intends to keep every penny invested in equities Reuters [SHANGHAI] China's Warren Buffett says he is keeping every penny invested in a share market that has nearly tripled over the past 18 months. "Don't ask me whether the bull run has peaked.Reuters - 661 words
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Page 13 Advertisements
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Advertisement8 2007-05-25 13 i*' /Si p v v fi <■■.■•:- .—y:. •:••!•'•<•:''J8 words
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Advertisement19 2007-05-25 13 ORGANISM sPHmagazines OFFICIAL SPONSORS PRfFIRRID HD PARTNIR Jamoanm gkey g6ose II 10untfWJ«*1»0u/ PARTNERS /fiQf Aesop. 9~~-_ 1 1 -xr.v19 words
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Advertisement69 2007-05-25 13 time 18 TO— —V mmO IW """1 ®SlI This week is your last chance to win trips for 2 to France staying at an authentic French Winery, or Club Med Bali as we celebrate Voilah! French Festival Singapore 07. Tune in tp 91.3FM NOW, play' The French Quiz? and you69 words
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Advertisement90 2007-05-25 13 You got to read this! Bookworms, rejoice. Find out how you can get 20% off books and stationery from Times The Bookshop at The Centrepoint when you pick up your copy of The Business Times Weekend tomorrow. m W:-<- *->r J I mm I l I *m I W JS9m>90 words
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INDIA
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342 2007-05-25 14 Rising currency threatens India's economic growth —NYT [NEW DELHI] Concerned that the rising value of the Indian rupee is threatening to limit the country's economic growth, especially in the lucrative outsourcing industry, monetary policy experts here have started putting pressure on the Reserve Bank—NYT - 342 words
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287 2007-05-25 14 —AFP [WASHINGTON] The United States and India are "90 per cent" of the way towards sealing a landmark deal on nuclear energy, a top US official said on Wednesday ahead of pivotal talks in New Delhi. Undersecretary of State Nicholas Burns said he—AFP - 287 words
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588 2007-05-25 14 Rising prices alienated voters who ousted Congress in polls Bloomberg [NEW DELHI] Indian Prime Minister Manmohan Singh warned companies against forming cartels, stressing price stability is necessary to spread the benefits of economic growth in Asia's fourth-biggest economy. "The operation of cartels— Bloomberg - 588 words
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Page 14 Advertisements
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Advertisement349 2007-05-25 14 |HB Diners Club Card To apply, call 6416 0980 I B BfOwi 11 liKtt IlPi A World of Exclusive Privileges Treats /||v Diners Club ■IfliißßHiißllliißAilßlißlllllHflllMHßHHH International' comes to /f I sf~ i/f *S 14 winter subsides into the warm winds of Spring, Jaan presents the fresh flavours, seasonal colours and349 words
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MIDDLE EAST
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Article, Illustration552 2007-05-25 15 Price surge follows UN report on advances in Iran's nuclear programme Reuters, AP, Bloomberg (LONDON] Oil prices climbed above US$7l to a nine-month high yesterday after a report by the United Nations' nuclear agency opened the way to tougher sanctions against theReuters,; AP,; Bloomberg - 552 words
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296 2007-05-25 15 —Reuters [LONDON] A multibillion-dollar project to turn gas into liquid fuel in Qatar was on schedule, Royal Dutch Shell said on Wednesday after Sasol warned a similar venture had problems. Sasol said its Oryx gas-to-liquids (GTL) joint venture plant in Qatar had technical—Reuters - 296 words
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Advertisement3591 2007-05-25 15 Cats Notices NOTICE OF INTENDED DIVIDEND Name of company Ml SYSTEMS PTE LTD (In Creditors' Voluntary Liquidation) Reg. No. *****5293H Address of former 331 North Bridge Road #22-02/03 Odeon Towers registered office Singapore *****0 Last day of receiving proofs 11 June 2007 Name of liquidators CHEE YOH CHUANQ and LIM3,591 words
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Advertisement1116 2007-05-25 15 IN THE MATTER OF THE COMFANKS ACT (CAP. 50) AND IN THE MATTER OF CONTVAC SHIPPING LINES FIE LTD (IN CREDITORS' VOWNlAirr UQWDATIONI (Company Registration No. *****5142N) Notice it hereby given that of ihe meeting oijhe abovenomed compony and of it* creditor* duly convened ond held at 1 Raffle* Place,1,116 words
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ASIA-PACIFIC/WORLD
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579 2007-05-25 16/17 LATEST US DATA Climb was highest in 14 years; US economy set for soft landing but sub-prime mortgage market still a risk Reuters. AFP [WASHINGTON] Sales of new US homes rose 16.2 per cent in April, the sharpest climb in fourteenReuters.; AFP - 579 words
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Article, Illustration540 2007-05-25 16/17 ANTHONY ROWLEY - By ANTHONY ROWLEY in Tokyo JAPAN'S Prime Minister Shinzo Abe last night called on world leaders to embrace a major new initiative to cut global warming emissions by half by the year 2050. He also said Japan will createREUTERS - 540 words
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311 2007-05-25 16/17 Reuters [LONDON! The British government has ordered a full competition inquiry into pay TV group BSkyß. over its purchase of a 17.9 per cent stake in the country's biggest commercial broadcaster ITV. The Competition Commission could recommend that BSkyß give up some or— Reuters - 311 words
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489 2007-05-25 16/17 Reuters. AFP [NEW YORK] A key member of the family that controls Dow Jones 8t Co opposes a US$5 billion bid by Rupert Murdoch's News Corp. fearing the sale would endanger the Wall Street Journal's independence, the paper reported yesterday. "I'm open— Reuters.; AFP - 489 words
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WORLD
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655 2007-05-25 16/17 It aims to balance need for tighter financial controls with cost of complying with them NYT (NKW YORK] The Securities and Exchange Commission (SEC) approved new guidelines on Wednesday that try to balance the need for tighter financial controls with the cost of— NYT - 655 words
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220 2007-05-25 16/17 —Reuters ISEATTLEI Microsoft Corp said on Wednesday it does not need to buy Yahoo Inc to gain scale in online advertising, because it has "all the pieces" it needs to build a successful ad business. Speaking at the Goldman Sachs Internet Conference in Las—Reuters - 220 words
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Article, Illustration42 2007-05-25 16/17 -Bloomberg Anne Ryan, of London, reads a book on a temporary grass installation in Trafalgar Square in London. UK yesterday. The grass was laid to promote visiting London's many village greens and will remain until today. —Bloomberg BLOOMBERG-Bloomberg; BLOOMBERG - 42 words
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Article578 2007-05-25 16/17 AFP [MOSCOW] Who would bid US$3.9 billion at an auction and then disappear? The mystery is gripping Russia's business community after a Moscow-based company called Prana appeared to do Just that. Prana won a dramatic bidding war on May 11 with the biggest Russian oilAFP - 578 words
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352 2007-05-25 16/17 Reuters (LONDON) A multi-millionaire businessman lost his appeal yesterday against a court order that he should pay a record-breaking £48 million (*****.5 million) divorce settlement to his ex-wife. Insurance underwriter John Charman. 54. had challenged the size of the award to his former wife— Reuters - 352 words
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Page 16/17 Advertisements
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Advertisement252 2007-05-25 16/17 1 H^P^A^B' IBUHBIH 3 (^^r 4 There'san Oasis for every generation. Bmß I j//t/§ 1I 1 I mt- Hi l*y .-<B r ft?*-., B B »B M I A BI Jl Live life to the fullest at the Oasis@Mulberry. a J ijfl IJ[ 1 111 B \*v 5 -\r- Vl252 words
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EDITORIAL & OPINION
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Article509 2007-05-25 18 EDITORIAL CLEARING a choked drain pipe is one thing. Untangling the legal and commercial aspects of a gas pipeline agreement involving incumbents who built it and new players who want to use it, is quite another. So, can the amended Gas Act, passed by Parliament on509 words
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Article, Illustration1341 2007-05-25 18 SEE CHAK MUN - It is critical to recognise the detriment to the international economy if any stoppage to trade is allowed to prolong. The longer it takes for trade to resume, the greater the economic loss By SEE CHAK MUN THE traditional concept of security inFILE PHOTO - 1,341 words
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Article, Illustration787 2007-05-25 18 FRANK CHING - THE BOTTOM LINE FRANK CHING FOR the last 10 years, Taiwan has attempted each year to be admitted into the World Health Organisation (WHO) and was rejected every time. In previous years, to maximise its chances, it asked to be787 words
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Article, Illustration915 2007-05-25 19 LEON HADAR - Congress wants China to revalue their currency while Beijing says it is not to blame for the US' rising trade deficit LEON HADAR Washington Correspondent THE minor agreements that were reached during the two days of negotiations between American and Chinese officials in Washington are notAP - 915 words
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180 2007-05-25 19 Chua Soon Hock - LETTERS TO THE EDITOR Chua Soon Hock 1 REFER to media reports on the closure of the University of New South Wales (UNSW) campus in Singapore. Is the Ministry of Education's (MOE) impractical policy a cause of the poor intake for UNSW, resulting180 words
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105 2007-05-25 19 Lim Ah Kheng - Lim Ah Kheng I REFER to MAS's letter "Let market discipline banks" (BT. May 16). The crux of the problem is that fixed deposit interest rates quoted to customers who enquired personally at the counters of local banks are consistently much higher than those105 words
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Page 19 Advertisements
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Advertisement105 2007-05-25 19 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterOsph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel105 words
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Advertisement1190 2007-05-25 19 Cats Notices flh HUA NAN COMMERCIAL BANK, LTD. wM (A Wholly-Owned Subsidiary of Hua Nan Financial Holdings Co., Ltd.) ptTHi—l m eIWTWi Oi-t, t»i* t—Hp HrmrnM tm ion Amount Amount INTEREST INCOME 46,523,604 40,082,534 INTEREST EXPENSE (23,712,402) (19,231,942) INTERESTINCOME.NET 22,811,202 20,850,592 NET INCOME (LOSS) EXCLUDING INTEREST INCOME Service fee income,1,190 words
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AVIATION/SHIPPING
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LOG BOOK
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Article79 2007-05-25 20 [SINGAPOBE] Changi Airports International (CAI), the international airports business unit of the Civil Aviation Authority of Singapore (CAAS), yesterday announced that it had signed a memorandum of understanding with the People's Committee of Thua Thien Hue Province for the development of Phu Bai-Hue International.79 words
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100 2007-05-25 20 —Bloomberg [LONDON] Orders for dry-bulk commodity carriers rose to the highest in more than 16 months as increased freight rates fuelled a construction boom, shipbrokers Fearnleys AS said. Orders for as many as 77 bulk carriers were disclosed in the past week, more—Bloomberg - 100 words
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113 2007-05-25 20 Bloomberg [SEOUL] Hanjin Heavy Industries Construction Co has won a US$l.27 billion order to build eight container ships that will be among the world's largest. The vessels, each able to carry 12,800 standard 20-foot containers, will be built in the Philippines for Germany'sBloomberg - 113 words
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Article, Illustration576 2007-05-25 20 It expects capacity, ticket prices to be hit by Tiger Airways' entry Reuters [SYDNEY] Qantas Airways Ltd said it might spin off some freight operations and other units or return billons of dollars to shareholders as it rethinks its future following a failedReuters; AFP - 576 words
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154 2007-05-25 20 AFP [SINGAPORE] Singapore budget carrier Tiger Airways yesterday said that it will lease two new Airbus 320 planes from the commercial aviation services arm of US conglomerate General Electric. Under an agreement, GE Commercial Aviation Services (GECAS) will buy the two aircraftAFP - 154 words
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590 2007-05-25 20 VEN SREENIVASAN - He seems to blame MAS for lobbying against services By VEN SREENIVASAN [SINGAPORE] The Singa-pore-Kuala Lumpur route will be opened up to lowcost airlines possibly as soon as September, the chief executive of Air Asia said yesterday. Tony Fernandes was speaking just590 words
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851 2007-05-25 20 SELVA KUMAR - ADMIRALTY CASEBOOK By SELVA KUMAR A VOYAGE charterer won an appeal in an English court last week against a ruling to pay "deadfreight" for cargo it did not load into a tanker because the vessel could not have departed the loading port851 words
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Page 20 Advertisements
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Advertisement108 2007-05-25 20 NOTICE BY FEEDER OPERATORS CURRENCY ADJUSTMENT PASIR GUDANG TRADE EFFECTIVE 15 JUNE 2007 With the appreciation of Singapore Dollar and Malaysia Ringgit against US Dollar which greatly increased the operating cost, the following feeder operators have no other alternative but to implement the Currency Adjustment (CA) for all SOC Shipments108 words
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Article11380 2007-05-25 21 SGX MAINBOARD Transaction date: May 24 52-Wk Td Last Vol Day Lad Quota Drv GrYld Nat MCap High Low Coda Company Sale *1- ***** High Low Buyer Seller Cvr PfE Smij 3.5 2 5716 1st Software 2 susp 8.1 16 5 6 3148 BTelecom 15.5 -1 2414 16.511,380 words
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Article7261 2007-05-25 22 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USJ dy yr dy yr dy %yr May 23 Indtx Chanq« Change Change Change Change Change World Index Preliminaty 1190.3 0.5 8.1 0.4 8.6 0.6 9.0 EAFE Preliminary 1196.2 0.5 8.0 0.5 8.8 0.8 9.2 Europe Preliminary7,261 words
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Page 23 Advertisements
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Advertisement2096 2007-05-25 23 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination NIPHANAREE RDM/ATW/BMN/TLB/NAN STXPOTBN CAM/NFK/NOL/SAV Loods Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIPPLE-EAST SERVICE F.EJS.E.A. SERVICE Destination Destination PAN VOYAGER DBI/ABU/DOH/BRN/DMM/KWT STXPO TBN INC/BSN PAN BRIGHT JDH/BJA LAURADA DBI/DBU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Molcysio, Indonesia Loods E. Malaysia, Indonesia OTHER SERVICES Tramping for2,096 words
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Advertisement108 2007-05-25 23 fr** P. T. DJAKARTA LLOYD (PERSERO) AUSTRALIA FULL CONTAINER SERVICE Wt VOT ~MI Wt W Ml STB MB Ml AMI WMDARRA OOIS TO/OS 77/05 01/06 03/06 05/06 0«/06 KAMAKUtA 039S 77/05 N/05 05/06 10/06 17/06 15/06 ANI WAMMGA 005S "***** ***** T575S ***** Tf756 ***** AH TOPAZ USS ***** T7706108 words
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Advertisement1675 2007-05-25 24 WAN HAI INTERNATIONAL PTE LTD CRN<>:I469S92OOOO/R T1L*****588 (14LINES) FAX:*****163 \\K|\ IA/AKI A I I INFQ CiKtomer Service/Bookings Direct Line (1800) *****200 V Nl I fIHII IIMI UIILJ FKI 1R:(03)334MMFUt(03)*****2MPW18:(04)226W00FAX:(04)2W6i99 JOH TB: (07) ***** D F/Ut (071?51l»2) SUM IB: (031) *****75 F/Ut (031) 32*2714/ 32*1305 WU.U, u.nnkni rn <« KI1B:(021) *****MFU:(021)1,675 words
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Advertisement1394 2007-05-25 24 EASTERN CAR LINER, LTD I W 1 I SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TOWS ■yyvor uftt-(im sin rn wm jkt mua wk ESTRELLA ETEKWA UJ 60 30/0} 21/24 COSMIC LEADER 82 40 60 01/06 10/04 12/06 ESTKELU ETEKWA 144 60 13/06 '5/06 ftuff-T I M M H7IT YUSHO1,394 words
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Advertisement697 2007-05-25 24 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VESSa WT I $M I HUM I COLOMIO > SHfW COlOttfO noiAftwm yrwios 25 may omit omit mjuw mjuw MIYWiIW Ullffl 30may 02Jim oya_ HJH MAtKIA OIOW 05 JUW 04 JUN 09itWI 13JUW I7JUW AISO ACCEPIM6 Kl697 words
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THE BUISNESS TIMES SHIPPING TIMES
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3404 2007-05-25 25 This ETA ETA AArartbar V«wl V*yaf« Te*ephooe SIM NflHM Hnn MuntfoCf ||up|^f To ADELAIDE (ADL) 2007 Australia 03/06 22/06 China Shpg ANL WARRINGA 00SS *****898 31*06 22/06 PTD)akarta ANL WARRINGA 005S *****202 10/06 29/06 China Snpg API TOPAZ 1455 *****898 10/06 29/06 PTDjakarta APITOPAZ3,404 words
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Advertisement428 2007-05-25 25 IRISL, Ofo® (kip&ssi) $](mi) Qfo® S&MteM @®s9, ®Gmjpite GGiPg)® ©ft) QlhixsWsjlh ibW (kvsfimg) {fax? fr&napcsxrfteJikM 9® fisalkiindl (poihnite fisa Uoram ©s wsWI m 0® @ol]*§Q 3m Qfo® (fo&tesQ Muxm* SINGAPORE REGIONAL OFFICE: AGENT IN SINGAPORE AGENT IN MALAYSIA; AGENT IN INDONESIA IRISL ASIA PTE LTD SINOSE MARITIME PTE LTD BOUSTEAD428 words
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Advertisement547 2007-05-25 25 rasa vor sm jkt MCIANOA MOON 27/05 M/OS PACHNTAN MOO 34/05 01/00 M( lAMOA 2001N If/OS M/OS PAC IMTAN *401 00/00 01/0* MCIANDA MOW M/OS >1/05 PACMNTAM Hfi 11/0 15/0* IfACIANBA MOW 01/0* 02/04 0003 M/ 00 22/04 VBSfi vor m M YB» DK MC lUPAT 0175W 27/05 DOCK MC547 words
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Advertisement331 2007-05-25 25 Im GLORY NAVIGATION GROUpI I (sma i«70) I OWNS ft OPERATES THE YOUNGEST FLEET j WITH TWELVE 7,000 DWT TWEEN DECKERS COVIMNO I I THE ENTIRE ASIA PACIFK PORTS I a RfOUUUt WIdCLY SfRVICIS: a IKAOHSIUNG A CHINESE PORTS, HONO KONO TO A FROM j SOUTHEAST ASIA B SJNGATORf HUf331 words
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NIGHT OUT/ARTS
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Article, Illustration726 2007-05-25 26 MELISSA LWEE - One way to hold an unforgettable party is to have it on a yacht, writes MELISSA LWEE MELISSA LWEE WHEN you hit the big 3-0 and you want to celebrate it in style, what do you do? You have a party, but726 words
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Article, Illustration575 2007-05-25 26 LISA TAN - By LISA TAN THIS year's International Museum Day (IMD) celebrations got a little mose tasty as food and art lovers came together for a food trail unlike any other. The Eastern Surprise Food Trail last Saturday whisked some 30 participants away to the575 words
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Article, Illustration452 2007-05-25 26 LINDSAY VICKERY - By LINDSAY VICKERY THREE colourful works from the dawn of the Romantic Era featured at last Sunday's Singapore Symphony Orchestra (SSO) Casual Concert and, judging from the audience's reaction, a relaxing afternoon of classical music really hits the spot. The Casual Concert Series aims452 words
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Page 26 Advertisements
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Advertisement49 2007-05-25 26 f c ."j c• _1 _x. Citigold, from spra tocfay, tomorrow and Surkwy Wf I Tie Hulkwul Arts Cmwdl booth ovtside Raffles Qty Thereafter, the magazine will be on sale at the various Arts Fest venues. fy v-r- •-TV./:*&Wi^i£iii^^ sw&Ww**. WITH COMPLIMENTS OF PUBLISHED BY citigold The Business Times49 words
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EPICURE
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Article, Illustration888 2007-05-25 27 GEOFFREY EU - At Thaifex and Gourmet Asia Bangkok, food fairs coexist with gourmet dinners, says GEOFFREY EU GEOFFREY EU ANTI Santamaria, the three-Michelin-star Spanish chef •V whose Can Eabes restaurant north of Barcelona is a popular destination for gastronomes from around the world, arrived in BangkokGEOFFREY EU - 888 words
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1064 2007-05-25 27 N K YONG - By N K YONG THERE was this intelligent young couple who were at the same dinner party, clearly very enthusiastic about wine. During our discussion about the wine we were drinking 1 was curious: "Do you drink wine every day?" "We1,064 words
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Page 27 Advertisements
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Advertisement169 2007-05-25 27 Transform your ordinary wine chiller to a Euro Cave Wine Cabinet today! -liß EUROCAVE OVERTRADE fgU PROMOTION For a only, over trade-in your working up to $1,200.00* per unit when you |mi purchase a Euro Cave wine cabinet*! Terms Conditions Offer Over trade-in only applicable purchase new Euro Cave V169 words
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ENTERTAINMENT
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Article, Illustration687 2007-05-25 28 PARVATHI NAYAR - CINEMA The plotlines are seemingly pulled out of thin air, says PARVATHI NAYAR PARVATHI NAYAR FOR many of us viewing Pirates of the Caribbean: At World's End, the movie couldn't have ended fast enough, but here's the really scary detail. When a certain687 words
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Article, Illustration578 2007-05-25 28 GEOFFREY EU - By GEOFFREY EU THERE is a lighthearted moment early on in Infamous when the pint-sized author Truman Capote nattily dressed in a furcollared winter coat breezes into a small Kansas town to begin his research for a story about a terrible multiple578 words
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Article, Illustration350 2007-05-25 28 PARVATHI NAYAR - DVD By PARVATHI NAYAR YOU'VE got to hand it to the diamond: for an inert stone, it sure causes quite a stir. And Hollywood and diamonds have long enjoyed a relationship dominated by mutual admiration: Elizabeth Taylor's legendary collection, 007350 words
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Article, Illustration524 2007-05-25 28 BEN MUNROE - MUSIC Reviewed by BEN MUNROE Music City Soul Beverley Knight Parlophone/EMI Rating: B ODDLY perhaps for the work of such a powerful vocalist, the strength and richness of Beverley Knight's Nashville-record-ed fifth album is epitomised by the backing singers. Following the tradition of backing vocals, at524 words
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Page 28 Advertisements
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Advertisement83 2007-05-25 28 Wide selection of wines available for tasting. —-'J\ Wines on offer Chateau Lafite Rothschild, Ausone, 7 Haut Brion, etc. Great selections of Australian, French, Spanish, Argentinean "SfcX v etc, available. FREE gift of wine cooler r 1/ with purchase of $300 (Limited to 1 per customer, while stock lasts). 7183 words
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Page 28 Miscellaneous
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Miscellaneous290 2007-05-25 28 CRYPTIC CROSSWORD Ring the Parisian in boat be- jlE_^ißL—JpH—ing loaded (7) 8 p 10 Bird, variegated sort one's seen on church (7) JIL_ 12 Confused impression given Law LaJ L|m Lbv LJ by book publisher's hype (5) BH BH 13 Good man presented with one German beer mug (s)^ tish290 words
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ARTS
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Article, Illustration1019 2007-05-25 29 PARVATHI NAYAR - PARVATHI NAYAR highlights some of the more interesting and intriguing shows at this year's Singapore Arts Festival PARVATHI NAYAR IT'S THAT time of year again when words and phrases like interdisciplinary, interactive and in-your-face are inevitably tossed around. In other words, it's time to get readyARTHUR LEE - 1,019 words
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Page 29 Advertisements
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Advertisement165 2007-05-25 29 *■:&< 4S&* v riiii-' 4 £i k- V V •> ".iC; [&tf V r Never be lost again. i9flK I OH »Jig HJ LJ| I K ~S HO Em fl ftfl Jj H I 11 ?l» B M l -V .;'<& '<*'-■ ELii Iwl'i f yffifeffiffifflSfflfjjflpjitjlfe^jjfl^^ r i Sajaß #»<SHMHBBBI^WHi^M®MBB^SMfcSBHBiB^M^SBBMMHHiMfIBM#J^BMP»V#Wr165 words
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WOMEN ON TOP
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Article, Illustration1502 2007-05-25 30 NANDE KHIN - Cerebos Pacific's executive VP tells NANDE KHIN about the challenges she had to overcome in a male-dominated profession NANDE KHIN BANGING on the table in order to get a point across during meetings may sound alien to female, and even male, executives in Singapore today. But1,502 words
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Page 30 Advertisements
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Advertisement6 2007-05-25 30 Black in Style. Re-defining Luxury Bedding.6 words
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Advertisement12 2007-05-25 30 This four-part series on top women achievers is brought to you by12 words
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COVER STORY
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Article, Illustration1376 2007-05-25 31 PARVATHI NAYAR - PARVATHI NAYAR looks at how this year's all-new version of the Asian Arts Mart aims to grow the performing arts portfolio PARVATHI NAYAR WEALTH management is the current buzz word in Singapore, but growing the performing arts portfolio is rather different from buying and sellingFILE PHOTO - 1,376 words
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Page 31 Advertisements
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Advertisement386 2007-05-25 31 ''i- /V,'• '> yj[_ i>/ D Italian festival y^Xp*\ 2 0 o'/ *|f v -J Featuring: Italian Lifestyle Fair at Calendar of Events 1 X J 23 to 30 May Italian Rim Festival: Screening of a seteotttpertobe of Italian films For more information and booting details, plea&yi&thww. ksingapore. estan. it386 words
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executive lifestyle
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Article599 2007-05-25 32 jaime ee - off the cuff jaime ee THERE are two things going on right now in Singapore that I don't understand. One, people are avidly speaking out against elitism in schools, yet parents will stop at nothing to secure places for their kids at "elite" primary599 words
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Page 32 Advertisements
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Advertisement357 2007-05-25 32 Hll Mix of Michelin and Growing the performing arts portfolio Credit-linked to some of the world's largest financial institutions: Cittqroup DBSB.nI. Boidm.nS.cbs HSBC Merrill Lynch Standi Chartered The Base Prospectus dated 30 March 2006 (as amended and supplemented by the Supplementary Base Prospectus dated 27 April 2007), and the Pricing357 words
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