The Business Times, 6 February 2010
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2010-02-06
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The Business Times
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Title Section18 2010-02-06 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg FEBRUARY 6 7, 2010 S$1.00 MICA(P) 124/08/2009 sft\ A SINGAPORE PRESS HOLDINGS PUBLICATION18 words
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689 2010-02-06 1 Siow Li Sen - DBS to put huge deposit base to work hard New chief Piyush Gupta outlines multi-pronged strategy for bank By Siow Li Sen lisen@sph.com.sg Singapore UNVEILING his vision for DBS to become a leading pan-Asian bank, new chief executive Piyush Gupta said yesterday it has to tackle its huge deposit base,689 words
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654 2010-02-06 1 Emilyn Yap - By Emilyn Yap emilyny@sph.com.sg Singapore PAYING big money does not necessarily get you everything these days, at least when it comes to buying a private apartment. New homes going for as much as $2,600 per square foot can offer designer654 words
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Page 1 Advertisements
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Advertisement207 2010-02-06 1 the business www.businesstimes.com.sg the raffles conversation MAVERICK RETAILER PHILIP GREEN 8-9 banker woes Ex-BOA execs charged with fraud FORMER chief executive Kenneth Lewis and former chief financial officer Joe Price accused of misleading shareholders about the acquisition of Merrill Lynch Co. 2 car channel More luxury-make parallel imports ALMOST half207 words
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Advertisement25 2010-02-06 1 CEOS' HAWKER GUIDE Nasi lemak L6-7 SHOW ME THE MONEY How investors can spot the red flags 33 ??DBS Q4 profit jumps 67%, Page 1025 words
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TOP STORIES
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546 2010-02-06 2 January number is lowest since August; payrolls drop as firms boost hours instead of taking on new hires latest us data| Bloomberg Reuters Washington THE unemployment rate in the United States unexpectedly declined in January to 9.7 per cent, the lowest level sinceBloomberg; Reuters - 546 words
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Article, Illustration521 2010-02-06 2 Reuters New York NEW York’s attorney general has charged Bank of America Corp’s (BOA) former chief executive Kenneth Lewis and former chief financial officer Joe Price with fraud for allegedly misleading shareholders about the acquisition of Merrill Lynch Co. The US SecuritiesReuters - 521 words
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Article137 2010-02-06 2 STI 2,683.56 (-61.42) STI FUTURES 2,684.00 (-62.00) SIMSCI 321.04 (-6.76) SIMSCI FUTURES 321.70 (-5.80) STOCKS Friday Change KL COMP 1,247.90 -17.13 NIKKEI 225 10,057.09 -298.89 HANG SENG 19,665.08 -676.56 SET 691.41 -11.11 JAKARTA 2,518.98 -74.24 MANILA 2,855.64 -59.23 KOSPI 1,567.12 -49.30 SHENZHEN B 573.53 -12.47 MUMBAI IND 15,790.93 -434.02137 words
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608 2010-02-06 3 Oh Boon Ping - Unexpected rise in US jobless claims, Europe debt woes spook investors By Oh Boon Ping huwenbin@sph.com.sg Singapore ASIAN markets fell to five-month lows yesterday on news of an unexpected rise in US jobless claims and worries over European sovereign debt. The credit fallout from608 words
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Article, Illustration819 2010-02-06 4 Samuel Ee - Grey imports bearing Bentley, Porsche badges jumped the most last year By Samuel Ee samuelee@sph.com.sg Singapore THE number of parallel-imported (PI) cars may have plunged to a four-year low last year, but the proportion of premium models accelerated. High-end PI sports cars mostBentley - 819 words
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Article, Illustration726 2010-02-06 5 Nisha Ramchandani - Commercial sector by far landed the lion’s share of deals, though the defence sector occupied more exhibition space By Nisha Ramchandani nishar@sph.com.sg Singapore THE Singapore Airshow, held as the global aviation industry regains its footing, racked up a bet-ter-than-expected US$10 billion of dealsYEN MENG JIIN - 726 words
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712 2010-02-06 6 Weekly outflow hits US$1.6b, the highest in 24 weeks, on earnings and Greece’s debt woes Bloomberg Singapore EMERGING market equity funds lost US$ 1.6 billion in weekly withdrawals, the biggest outflows in 24 weeks, as earnings and Greece’s debt woes raised concerns thatBloomberg - 712 words
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Article, Illustration592 2010-02-06 6 Reuters Nagoya TOYOTA president Akio Toyoda has apologised for safety problems that have left the Japanese carmaker “in crisis” as the group considered a second recall this time over the brakes on some Prius hybrids. “Believe me, Toyota cars are safe,”saidMrToyoda–thegrandson of Toyota’s founderReuters; AFP - 592 words
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Page 2 Advertisements
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Advertisement62 2010-02-06 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 10-12 Singapore 13-15 Airshow 16-17 From the Desk Of 18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Real Estate 34-35 LIVING Dining L2-5 CEOs’Hawker Guide L6-7 Shopping L8 Beauty L962 words
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Page 3 Advertisements
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Advertisement83 2010-02-06 3 Celebrate A New Year Filled With Abundance. Feast on our Abundance Reunion buffet spread at Checkers Brasserie with festive delights such as New Year Lap Yok, Peking Duck and Roasted Suckling Pig. Bring home the celebration with our Auspicious Poon Choy and Yusheng from Checkers Deli. Reunion Buffet, 13th February83 words
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Page 5 Advertisements
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Advertisement36 2010-02-06 5 SINCE 1980 c LeMercier's CfD de Sede t i- -i... 65 Mohamed Sultan Road, Singapore *****3 Tel: 6734 3425,6235 3221 Fax: 6235 3762 Opening Hours: Mon-Sat 10.30am 7,00pm Sun Public Holidays 10.30am 7.00pm Email: singapore_sales@lemeroiers.com www.lemerciers.com36 words
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Page 5 Miscellaneous
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Miscellaneous31 2010-02-06 5 to 31 MM JACKPOT 1,500,000, This Monday |P L A Y(i) Always play with care. Towards Community [responsibly) Do not bet illegally. Purpose and Benefit RCB Reg No: *****0202G SINGAPORE m31 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK | Feb 1-5, 2010
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39 2010-02-06 7 With business prospects hitting highs not seen since mid-2007, the latest BT-UniSIM Business Climate Survey now predicts that the Singapore economy may grow up to 8.4 per cent in the present quarter.39 words
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57 2010-02-06 7 It’s the hiring season for banks as bonuses begin to be paid but what’s differentthis year isthat negotiations have shifted to pinning down that precious base salary. Banks are also enjoying a surfeit of candidates after the financial crisis of the past57 words
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44 2010-02-06 7 COMBINED full-year profits for the 28 Singapore-listed companies that filed their accounts by Friday jumped 30 per cent from last year. Earnings for the 12-month period came to $3.6 billion, with all but one company showing profits.44 words
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39 2010-02-06 7 ALLOW market forces to weed out inefficient firms and make room for productive ones as the economy embarks on its next phase– onedriven byskills, innovation and productivity, says the Economic Strategies Committee.39 words
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73 2010-02-06 7 TOYOTA’S US arm will start fixing a technical glitch in its cars this week after recalling millions of vehicles in a public relations nightmare for the world’s top carmaker. It said on Monday that it had “developed and rigorously tested” a fix73 words
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43 2010-02-06 7 FINANCE Minister Tharman Shanmugaratnam, who is also chairman of the Economic Strategies Committee, said on Monday that a specialist financial institution was needed to plug gaps in the supply of cross-border financing for Singapore firms.43 words
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Article43 2010-02-06 7 BUSINESS organisations not only welcome the recommendations of the Economic Strategies Committee, but are ready to work with the government to boost productivity and make the big shift to quali-ty-driven economic growth in the next 10 years.43 words
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57 2010-02-06 7 PROPERTY tycoon Ng Teng Fong’s passing on Tuesday marks the end of an era of larger-than-life property titans. He was one of the earliest to develop shopping centres on Orchard Road and until today, his Far East Organization group here is probably the largest property57 words
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38 2010-02-06 7 THE world’s largest airline by market cap on Tuesday beat market expectations by posting a $403.7 million profit for the October-Decem-ber 2009 quarter 20 per cent higher than a year back.38 words
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Article, Illustration31 2010-02-06 7 The chairman of the Economic Strategies Committee says that a specialist financial institution was needed to plug gaps in the supply of cross-border financing for Singapore firms ARTHUR LEEARTHUR LEE - 31 words
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45 2010-02-06 7 SINGAPORE can become the location of choice for businesses outside Asia seeking to tap the region’s potential, and Asian firms looking to expand to the rest of the world, Economic Development Board chairman Leo Yip said on Wednesday.45 words
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42 2010-02-06 7 EASY credit will be available for premiumplayers at Singapore’s casinos but the Casino Control Credit Regulations will also make it easy for the authorities to keep checks on both the casinos and junket promoters.42 words
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37 2010-02-06 7 THE government could be making a wide range of changes to the property market from offering a greater variety of lease tenures to relaxing rules for industrial land use.37 words
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53 2010-02-06 7 MANY elements of Singapore’s new economic blueprint are not new, but the policies with which to turn the Economic Strategies Committee’s vision into reality will need to be, says Senior Minister Goh Chok Tong. “What is new is how53 words
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58 2010-02-06 7 A REVIEW of the reserve list system for government land sales is in the works, after the Economic Strategies Committee called for changes to help developers trigger the sale of sites more easily. One possible tweak could allow developers to pay lower deposits after58 words
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NEXT WEEK Feb 8-12, 2010
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Article23 2010-02-06 7 Feb 8 H2, 2009 Consumer Price Index by income group of households Feb 12 Dec retail sales and catering trade indices23 words
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Article36 2010-02-06 7 Feb 6 Meeting of G-7 ministers and central bank governors in Iqaluit, Canada, final day Feb 8 EC one-day conference on international developments in accounting and auditing Feb 10 Bank of England quarterly inflation report36 words
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Article28 2010-02-06 7 Feb 9 Dec wholesale inventories Feb 10 Dec trade balance Feb 11 Initial job claims Jan retail sales Dec business inventories Feb 12 Feb Michigan sentiment28 words
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Page 7 Miscellaneous
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Miscellaneous280 2010-02-06 7 CRYPTIC CROSSWORD Across 7 States tour may start here (8) 9 School’s an aid to cultivation (6) 10 Try holding on to right chick (4) 11 Sounded thick (10) 12 Relieve detective before endless shift (6) 14 Voluntary one found in irregular platoon (8) 15 The woman admitting a road’s280 words
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Miscellaneous14 2010-02-06 7 SATURDAY with Ludwig ‘It can’t be seen because it has the latest stealth technology...’14 words
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THE RAFFLES CONVERSATION
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Article, Illustration2041 2010-02-06 8/9 Jaime Ee - Not content with buying up and turning around UK High Street retail, he and best pal Simon Cowell are cooking up a new venture that promises to rival all others. Philip Green, retailer extraordinaire, gets on the blower with Jaime Ee Jaime Ee jaime@sph.com.sg OF all the2,041 words
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Page 8/9 Advertisements
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Advertisement70 2010-02-06 8/9 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.70 words
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COMPANIES
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Article, Illustration752 2010-02-06 10 Conrad Tan - Results beat analyst estimates on continued growth in customer loans By Conrad Tan conradt@sph.com.sg Singapore DBS Group’s net profit rose 67 per cent to $493 million in the fourth quarter from a year earlier, beating analysts’ estimates, as customer loans continued to grow. Total incomeARTHUR LEE - 752 words
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464 2010-02-06 10 Chew Xiang - By Chew Xiang xchew@sph.com.sg Singapore THE Singapore Exchange (SGX) said yesterday that all companies on the Catalist junior board had appointed sponsors ahead of the deadline yesterday. Of the 154 companies that were listed on Sesdaq in December 2007, when Catalist was set up464 words
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147 2010-02-06 10 Re uters Singapore SP AUSNET, part-owned by Singapore Power, has priced 475 million Swiss francs (S$630 million) worth of 5-1/2-year bonds at 65 basis point above swap, the electricity firm said yesterday. The firm is in the midst of refinancing A$960 millionReuters - 147 words
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Article, Illustration594 2010-02-06 11 R Sivanithy - stocks| R Sivanithy sivan@sph.com.sg Senior correspondent TO SAY it has not been a good week for stocks would be a bit of an understatement after dropping 5 per cent in January, the Straits Times Index this week lost a further 62 points or594 words
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Business briefing
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Article86 2010-02-06 11 A CONSORTIUM led by offshore construction player Swiber Holdings has won a contract worth about US$117.5 million from an oil and gas operator in South Asia. Consortium work comprises the full EPCIC (engineering, procurement, construction, installation and commissioning) scope of work for platforms and pipelines. The86 words
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Article68 2010-02-06 11 CHUAN Hup Holdings reversed into the black for its fiscal second quarter, lifted by firmer sales. The company posted a net profit US$3.95 million for the three months ended Dec 31, 2009, against a net loss of US$30.8 million in the same period68 words
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57 2010-02-06 11 METAX Engineering Corporation said that it expects to report a loss for the six months ended Dec 31, 2009. The weak performance was due mainly to lower revenue from fewer projects awarded to the company; delays in certain projects resulting in delays in progress payments;57 words
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67 2010-02-06 11 ARTIVISION Technologies reported that net loss for the third quarter to Dec 31, 2009, narrowed to $1.88 million from $2.36 million in the year ago quarter. Sales increased to $143,000 from $84,000. For the nine-month period, sales was largely flat, at $288,000 com- pared to67 words
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53 2010-02-06 11 SCOMI Marine Services Pte Ltd is planning to sell its entire 29.07 per cent stake in CH Offshore Ltd to Falcon Energy Group Limited for $143.50 million. Scomi Marine Services is a subsidiary of Scomi Marine Bhd. The sale price translates into 70 cents53 words
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81 2010-02-06 11 TAI Sin Electric said that net profit for the half year to Dec 31 more than doubled to $6.8 million from $3.1 million a year ago. Sales fell slightly to $96.3 million from $111.2 million. Earnings per share increased to 1.75 cent for81 words
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Article110 2010-02-06 11 VOL CLOSE GentingSP 275,961 111 3.0 2.8 AdvancedSystem 185,421 1.5 -1.5 -50.0 GoldenAgri 72,646 50.5 -2.0 -3.8 BanJoo 49,329 3.5 0.0 0.0 MAPTech 46,793 5.5 -1.0 -15.4 RafflesEdu 43,854 33.5 -2.5 -6.9 EastgateTech 41,051 0.5 0.0 0.0 YingLi 39,492 44.5 -3.0 -6.3 UniFiber 33,940 5 0.5 11.1110 words
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Article113 2010-02-06 11 Stock name Close Change Stock name Close Change CapitaLand 3.640 -0.120 CapitaMall 1.730 -0.010 CityDev 10.380 -0.260 ComfortDelGro 1.530 -0.030 Cosco Corp 1.210 -0.050 DBS Grp 14.040 -0.160 F&N 3.830 -0.070 Genting SP 1.110 +0.030 Golden Agri 0.505 -0.020 HK Land 4.450 -0.070 JMH 30.000 -0.820 JSH 17.000113 words
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Article61 2010-02-06 11 BY CENTS CLOSE UP DBXT S&P Short 10US$ 5648 224.4 2.9 Great Eastern 1362 36.0 2.7 Asia Pac Brew 1240 10.0 0.8 STI 2950SGAePW*****7 58.5 9.5 19.4 STI 2950BNPePW*****0 59.5 7.5 14.4 STI 2750 DBePW*****1 24.5 6.5 36.1 STI 2850BNPePW*****0 45 6.5 16.9 STI 2900 DBePW*****1 53.5 6.561 words
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Article60 2010-02-06 11 BY CENTS CLOSEDOWN GLD 10 US$ ***** -684.6 -4.4 DBXT Nifty 10US$ ***** -620.7 -4.1 DBXT DJE50 10US$ 3863 -325.3 -5.6 DBXT MSEurope 10US$ 3950 -241.5 -4.1 DBXT FTChina25 10US$ 2704 -166.2 -4.1 JMH 3000 -116.5 -2.7 Lyxor China H 10US$ 1436 -100.8 -4.7 DBXT MSTaiwan 10US$ 147560 words
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452 2010-02-06 12 Kalpana Rashiwala - Group expected to preview Goodwood Residence, Waterline projects here after CNY By Kalpana Rashiwala kalpana@sph.com.sg Singapore MALAYSIAN tycoon Quek Leng Chan’s Singapore-listed property unit GuocoLand has posted net earnings of $60.4 million for the second quarter ended Dec 31, 2009, a significant jump from452 words
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378 2010-02-06 12 Uma Shankari - By Uma Shankari shankari@sph.com.sg Singapore WING Tai Holdings yesterday reported a 7 per cent climb in fiscal second quarter net profit to $22.3 million from $20.9 million a year earlier as it sold more homes. The rise in earnings for the378 words
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481 2010-02-06 12 Jamie Lee - By Jamie Lee leejamie@sph.com.sg Singapore EZRA Holdings is setting up a joint-venture company with a collective ultimate investment of US$150 million with three partners to co-own and operate a floating production, storage and offloading (FPSO) vessel for481 words
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264 2010-02-06 12 Singapore A SURGE in revenue and a fair value gain on investment properties helped Tuan Sing Holdings achieve a net profit of $23.32 million for the fourth quarter ended Dec 31, 2009, compared with a net loss of $13.57 million a year264 words
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Page 11 Advertisements
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Advertisement70 2010-02-06 11 KnightFrank^com.sg MEDICAL 5 f c c 1 (Hit* Cf 5th Feb (Fri) 0 au ORCHARD MEDICAL SPECIALISTS CENTRE (Phase 2 only 18 units released for sale/lease) Prime location next to Mt Elizabeth Hospital Ready for immediate occupation Sizes range from 581 sf to 2,056 sf No restriction to foreign ownership70 words
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SINGAPORE
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Article539 2010-02-06 13 Joyce Hooi - Niels Crone spent several years batting for the other side before getting serious about conservation By Joyce Hooi joyceh@sph.com.sg CONSERVATIONInternational’s(CI)operations man is no tree-hugging, bleed-ing-heart liberal, like most people would imagine. In fact, it could be said that Niels Crone spent a good many years playing539 words
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265 2010-02-06 13 RESEARCHERS at Nanyang Technological University’s (NTU) School of Biological Sciences have completed the world’s first in-depth study of the malaria parasite genome, which could lead to a cure for malaria. The research team led by assistant professor Zbynek Bozdech comprises graduate and265 words
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Article, Illustration503 2010-02-06 14 Olivia Ho,Zeinab Yusuf Saiwalla - Sales are up by 10-20% as prices are kept at last year’s levels By Olivia Ho,Zeinab Yusuf Saiwalla oliviaho@sph.com.sg zeinabs@sph.com.sg IT’S that time of the year when florists are ringing their tills to the sound of Chinese New Year shopping. And shoppersARTHUR LEE - 503 words
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Article, Illustration244 2010-02-06 14 FRANCE was the gastronomic destination for guests at the BT Wine Night on Wednesday. And the focus of the first Wine Night of 2010 was on the Burgundy region. Following a quick presentation by sponsor Lexus Borneo Motors, wine expert Lim HweePHOTOS: ARTHUR LEE - 244 words
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Article, Illustration349 2010-02-06 15 Olivia Ho - Rita Soh, director of RDC Architects, heads new 15-member board from Jan 1 By Olivia Ho oliviaho@sph.com.sg RITA Soh, director of RDC Architects Pte Ltd, has been elected the new president of the Board of Architects Singapore (BOA). The new 15-member board, which startedFILE PHOTO - 349 words
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Briefing
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67 2010-02-06 15 THE Singapore Youth Olympic Games Organising Committee (SYOGOC) and Olympic Games information technology partner Atos announced the completion of the IT infrastructure and systems design phase for the Singapore 2010 Youth Olympic Games (YOG) at the opening of an integration test lab67 words
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68 2010-02-06 15 UNDER a two-year partnership facilitated by Temasek Foundation, St Paul University Manila, the Alice Lee Centre for Nursing Studies at the National University of Singapore and Ngee Ann Polytechnic’s School of Health Sciences will collaborate on a capacity-building programme for nurse leaders and68 words
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97 2010-02-06 15 THE Young Women’s Leadership Connection (YWLC), a network catering to the needs of young women community leaders, was launched officially yesterday at UBS Singapore by Lim Hwee Hua, Minister in the Prime Minister’s Office and Second Minister for Finance and for Transport. YWLC’s97 words
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Page 13 Advertisements
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Advertisement1010 2010-02-06 13 BEATS MD IT f r 1 SITRA HOLDINGS (INTERNATIONAL) LIMITED (Incorporated in the Republic of Singapore) A (Company Registration No. *****1237E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting of Sitra Holdings (International) Limited (the "Company") will be held at 17 Kaki Bukit Place,1,010 words
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Page 14 Advertisements
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Advertisement18 2010-02-06 14 1 913 HOT 30 CCUNfPOWN 7 MON-FR! 8PM TO 12MN WITH BOY THUNPEt 91.3FM TODAY'S BEST MUSIC WKWf.WP*****.COM18 words
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Page 15 Advertisements
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Advertisement259 2010-02-06 15 MATS IT• SELL IT-FIND IT RECRUIT WORLD'S LARGEST INTERNET BROADCASTING PLATFORM Chief Operating Officer (base: Silicon Valley) Our client owns and operates the world's largest internet audio broadcasting platform which enables thousands of companies, professionals and hobbyists to operate their own radio stations. We seek a Chief Operating Officer (new259 words
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SINGAPORE AIRSHOW 2010
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361 2010-02-06 16/17 Ven Sreenivasan - Degree programmes will be in collaboration with Embry-Riddle Aero Uni By Ven Sreenivasan ven@sph.com.sg SIM University (UniSIM), in partnership with Embry-Riddle Aeronautical University and the Singapore Workforce Development Agency (WDA), will be offering two new aviation degrees: the Bachelor of Science in Aviation Maintenance361 words
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Article, Illustration582 2010-02-06 16/17 Reuters AIRCRAFT engine makers will know within months if Airbus will launch a programme to fit more efficient engines to its top-selling single-aisle models, a step that might also prompt rival Boeing to follow suit. The programme could give both plane makers breathingReuters; PHOTOS: YEN MENG JIIN - 582 words
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FROM THE DESK OF
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Article, Illustration973 2010-02-06 18 As consumer sentiment starts improving, there is a growing realisation that the crisis has brought about a fundamental economic transformation within the global economy FROM THE DESK OF ECONOMIESaroundthe world are starting to see early signs of recovery from what has been the worst recession973 words
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WORLD
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Article495 2010-02-06 19 Pauline Ng - Major shareholder, 2 foreign funds offer 90 sen a share, valuing firm at US$1b By Pauline Ng btworld@sph.com.sg Kuala Lumpur SHARES of KNM Group jumped 6.5 sen or nearly 9 per cent to 81.5 sen yesterday following a proposal by its major shareholder495 words
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Briefing
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77 2010-02-06 19 Reuters Taipei TAIWAN has cleared the first direct flight by a private aircraft to China, officials said day,continuingathawinties.ApprovalfortheTai-wan-registered business jet comes despite increased friction between China and the United States over a US proposal to sell US$6.4 billion in advanced weapons to theReuters - 77 words
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85 2010-02-06 19 Bloomberg New York UBS is reorganising its wealth management Americas division and reshuffling management as it seeks to revive earnings. The Swiss bank is reducing the number of regional divisions to two from three, which will be led by David McWilliams in the eastBloomberg - 85 words
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98 2010-02-06 19 AFP Taipei FORMOSA Plastics Group plans to invest NT$650 billion (S$28.7 billion) at home and abroad in 2010. “We will focus on petro- chemical and steel manufacturing this year,” an official close to C T Lee, chairman of Formosa Plastics Corp, the flagship company ofAFP - 98 words
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66 2010-02-06 19 Reuters Mumbai DUBAI World’s investment arm Istithmar has sold its entire holding in Indian budgetairline SpiceJet, the airline’sspokeswoman said yesterday. Istithmar sold its stake in the airline via block deals to a couple of domestic mutual funds and a foreign institutional investor for US$35.23 million,Reuters - 66 words
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Article64 2010-02-06 19 AFP Hong Kong HONG KONG police yesterday said they had released a feng shui master suspected of forgery in his failed claim on the estate of late billionaire Nina Wang, once Asia’s richest woman.TonyChan,50,Wang’sformer loverandspiritual adviser, spent more than a day in custody before hisAFP - 64 words
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Article, Illustration452 2010-02-06 19 AP Los Angeles THE private equity firm that bought the recording label of the Beatles and Coldplay needs more cash from investors to avoid a possible foreclosure by Citigroup. The problems for British financier Guy Hands were detailed in aAP; BLOOMBERG - 452 words
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555 2010-02-06 20 Smaller balance of payment surplus may ease pressure on China to resume rise in yuan Bloomberg Reuters Beijing CHINA’S current account surplus fell 35 per cent last year as exports accounted for a smaller percentage of the world’s fast-est-growing major economy, the State AdministrationBloomberg; Reuters - 555 words
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586 2010-02-06 20 Reuters Beijing CHINA will levy heavy anti-dumping duties on US chicken products, the Commerce Ministry said yesterday. The move is likely to aggravate trade relations and antagonise one of the few US industries that profitably exports to China. The ministry’s initial investigationReuters - 586 words
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Article, Illustration537 2010-02-06 21 India’s economy ‘one of the first in the world to recover’ from financial crisis, it says Bloomberg Mumbai INDIA can gradually start raising interest rates as its economy is among the first to recover from the global financial crisis, the InternationalBloomberg; AFP - 537 words
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406 2010-02-06 21 Reuters Sydney AUSTRALIA’Scentralbankyesterday upgraded already optimistic forecasts for economic growth and said interest rates were likely to rise further, though it was content to pause for now to assess the impact of past hikes. The Reserve Bank of Australia (RBA) wasReuters - 406 words
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365 2010-02-06 21 AP London BRITISH Airways (BA) has said that its cost-cutting drive has put the airline on the right course but will not save it from posting record losses in the current year. In an update on the nine months ending Dec 31,AP - 365 words
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529 2010-02-06 22 More trade pacts, opening of markets, and a new export promotion cabinet are mooted NYT Washington THE US administration on Thursday unveiled its new strategy to make good on President Barack Obama’s promise to double American exports in the next five years. TheNYT - 529 words
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Article, Illustration524 2010-02-06 22 AP London IT ONLY took eight minutes for a wiry sculpture of a striding man to make history. After a brief but intense bidding war involving at least 10 prospective buyers,AlbertoGiacometti’s Walking Man I sold at Sotheby’s in London for just overAP; AFP - 524 words
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Page 20 Advertisements
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Advertisement117 2010-02-06 20 Get your copy from any Spinelli outlet at $5.50 and get a complimentary Spin or Latte! February Pulses out now! Will new malls revive retail sector? Why retail stocks have gone out of vogue in recent years. Magnus Bocker's five-year plan for SGX. Investors who don't like "roller-coaster rides find117 words
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Page 22 Advertisements
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Advertisement9 2010-02-06 22 www. r w lifestyle.omy.sg mmx' OK Man look http://contest.omy.sg/liaozhai9 words
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SGX
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Article9085 2010-02-06 23 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 3 3148 8Telecom 15.5 unch 150 15.5 15 15 15.5 5 0.7 28.2 74.2 10 2.5 5834 A-Sonic 7.5 unch9,085 words
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Article1899 2010-02-06 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 s AA Grp 5 4.5 5.5 4.8 25 12 8538 t APStrategic 16.5 14 16.5 97.4 4 0.5 1501 t1,899 words
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Article186 2010-02-06 26 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 14 0 0 0 0 2 14 0 Manufacturing 17 118 60 2 18 10 19 136 70 Commerce 7 43 22 2 9 6 9 52 28 Tpt/Stor/Comms 1 31 7186 words
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Article829 2010-02-06 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Feb 1 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) AIMS Amp Cap Ind Reit 4-Feb-10 Stichting Pensioenfonds ABP Sell *****2 0.16 *****2 7.31 0 0.00 AIMS829 words
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Article119 2010-02-06 26 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 25,735 25,735 99,859 99,859 Manufacturing 406,537 199,851 606,388 285,159 4,193 289,351 Commerce 179,784 11,189 190,973 134,578 2,440 137,017 Tpt/Stor/Comms 132,825 2,480 135,305 227,872 506 228,378 Finance 53,888 53,888 300,429 300,429 Construction 74,532 31,049 105,581 15,608119 words
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MARKETS
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Article, Illustration83 2010-02-06 27 YTD change: -7.39% 52-week high: 2,947.08 on Jan 11,2010 52-week low: 1,455.47 on March 10,2009 YTD change:-10.09% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 11,344.50 on March 9,2009 YTD change:-10.31% 52-week high: 3,478.01 on Aug 4, 2009 52-week low: 2,037.02 on March 3,2009 Source: Bloomberg YTD change:83 words
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365 2010-02-06 27 In local curr In S$ In US$ dy yr dy yr dy yr Feb 4 Index Change Change Change Change Change Change World Index Preliminary 798.3 -2.2 -4.1 -2.1 -4.0 -2.5 -5.0 ‡EAFE Preliminary 752.4 -2.0 -4.1 -2.1 -4.9 -2.6 -5.8 Europe Preliminary 1064.7 -2.7365 words
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Article154 2010-02-06 27 Feb 5 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2281 1.2302 0.8646 0.8649 Canadian dollar 1.3218 1.3243 0.9306 0.9310 Euro 1.9442 1.9476 1.3688 1.3692 NZ dollar 0.9751 0.9776 0.6865 0.6873 Sterling pound 2.2269 2.2305 1.5678 1.5681154 words
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Article77 2010-02-06 27 Feb 4 COCOA (£/tonne) Close Prev High/Low Mar 10 2250 2243 2259/2230 May 10 2240 2234 2249/2223 Jul 10 2227 2221 2237/2212 Sep 10 2205 2199 2214/2196 COFFEE (US$/tonne) Close Pev High/Low Mar 10 1310 1324 1328/1306 May 10 1344 1357 1359/1340 Jul 10 1374 1385 1387/1370 SUGAR (US77 words
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Article105 2010-02-06 27 Feb 4 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 10 914.00 908.00 916.00 900.00 May 10 924.75 919.00 926.50 911.00 Jul 10 933.50 928.50 935.00 920.00 Aug 10 930.00 924.50 931.50 916.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Mar 10 37.21 36.90 37.44105 words
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Article64 2010-02-06 27 Feb 5 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 10 2520 2525 2525 2515 36 795 Mar 10 2494 2530 2523 2492 1438 8863 Apr 10 2486 2521 2523 2486 8990 ***** May 10 2484 251964 words
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Article75 2010-02-06 27 Feb 4 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 72.74 -3.56 WTI (Near Mth) 72.93 -4.00 Dubai (1-Mth F) 74.88 -1.65 Tapis blend 78.00 -1.45 Minas 77.50 -1.45 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 78.00 0.39 Jet Kerosene 82.60 -2.10 US$/barrel Opec Oil Basket Price75 words
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Article71 2010-02-06 27 Feb 4 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2012.25 2049.50 3 months 2044.00 2083.00 Copper, Grade A (US$/tonne) Cash 6367.50 6567.00 3 months 6390.00 6590.00 Lead (US$/tonne) Cash 1945.50 2002.00 3 months 1964.50 2021.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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Article65 2010-02-06 27 Feb 5 GOLD (US$/oz) Feb 05 Feb 04 Hong Kong 1055.*****6.40 Feb 03 Feb 04 London 1114.*****9.95 1115.*****0.75 Source: Bloomberg SILVER Selling Buying Passbook 1 oz 21.97 21.74 Source: Bloomberg PLATINUM Lon (US$/oz) Feb 04 Close Previous PM Fix 1549.*****8.00 AM Fix 1550.*****6.00 Source: Bloomberg PLATINUM NYMEX (US$/oz) Feb65 words
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PERSPECTIVE
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Article, Illustration1334 2010-02-06 28 / 29 Robert J Samuelson - America’s success in taming inflation sparked what was arguably the greatest prosperity in its history. But this also planted the seeds of disaster that eventually grew into the sub-prime crisis. By Robert J Samuelson By Robert J Samuelson WE need to get the story straight. Already, aBLOOMBERG - 1,334 words
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Article, Illustration860 2010-02-06 28 / 29 Leon Hadar - Leon Hadar Washington correspondent btworld@sph.com.sg WHEN “sources close to the White House” tell reporters that the US President remains “confident” about your “leadership” and “job performance”, is it time for you to start looking for another job? Indeed, for several weeks, the860 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1405 2010-02-06 30 / 31 Shane Oliver - The way global share markets behaved six years ago is a reasonable guide as to what to expect this year. Corrections could prove to be buying opportunities Shane Oliver AMP Capital Investors year. The writer is head of investment strategy and chief economist, AMP Capital Investors SHARESAFP; Source: Bloomberg, AMP Capital Investors - 1,405 words
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BROKERS' TAKE
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Article356 2010-02-06 30 / 31 Neutral CIMB-GK Research Feb 5 Close: $14.04 WEupgrade DBSto“neutral”from “underperform” as underperformance in the past two months has left the stock with similar upside as our expectations for the Straits Times Index. Our target price is intact at S$16.28, still based on 1.4x 2010 P/B. Q4 2009 results356 words
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Article438 2010-02-06 30 / 31 Conrad Tan - Compiled by Conrad Tan DBS Group Research Feb 5 THE tender for a private condominium site at Sengkang West Avenue closed on Feb 5 with 10 bids. City Developments submitted the top bid for the site at S$200.5 million, amounting to S$365 per square foot per plot ratio438 words
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Article, Illustration1332 2010-02-06 32 Wong Sui Jau - Study shows the rebalancing method outperforms the buy and hold method over a long period wealth insights| Wong Sui Jau General manager of Fundsupermart THE recent volatility has taken investors for a wild ride. After starting the year on a strong1,332 words
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Article, Illustration1364 2010-02-06 33 Teh Hooi Ling - Apart from the warning signs in financial statements, look at a firm’s reputation and its country of operation show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder IN the current market environment, macro factors dictateAFP FILE PHOTO - 1,364 words
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WEALTH REAL ESTATE
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809 2010-02-06 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED The Sail Marina Bay Apt 13/01/2010 99 614 1179 1920 District 5 NON-LANDED Faber Crest Apt809 words
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Article, Illustration572 2010-02-06 35 Move seen as positive for Liberty, which has been fighting to balance competing needs of large-scale malls and offices Reuters London Liberty International, Britain’s biggest shopping mall owner, is looking at splitting its portfolio into two separate listed companies as it battles toReuters; AFP - 572 words
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443 2010-02-06 35 Reuters London PRIVATE equity company Blackrock Investment Management’s move to gazump Macquarie Group for the lease on a swish central London office marks a turn in the thawing occupational market and bodes well for developers. Blackrock’s leaseon the Drapers Gardens offices for 25 yearsReuters - 443 words
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Page 34 Advertisements
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Advertisement25 2010-02-06 34 41 *m BiSffiBllIa»i«HMtBTOKHff!MliiWMilrfsirifntial-savills-(T>m.sn Savills has more th associates worldwide estate needs, anyw an 200 offices and to meet all your real /here in the world.25 words
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Page 36 Advertisements
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Advertisement26 2010-02-06 36 Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868E. A member of Audit Bureau of Circulations Singapore. Customer Service (Circulation): 6388-3838, circs@sph.com.sg, Fax26 words
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Page 1 Advertisements
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Advertisement62 2010-02-06 1 LivingBTTHEBUSINESSTIMESWEEKEND|FEBRUARY6-*****BTTHE BUSINESS TIMES WEEKEND FEBRUARY 6-7 JUST THE TWO OF US Where to have a truly private dining experience for Valentine’s Day L2-5 VALENTINE’S GIFTS Handled with care L10-11 PHOTO: THE HARBOUR GRILL OYSTER BAR GOLF Finding the sweet spot L17 CEOS' HAWKER GUIDE Nasi lemak L6-7 MOTORING Enticing Evora62 words
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BT Living
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DINING
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Article, Illustration1698 2010-02-06 2 / 3 Audrey Phoon - usRomancin coules will have a touh task Romancing couples tough avoiding the CNY-celebrating crowds this Valentine’s Day. Here, however, are eight venues where you can have a completely private dining experience and, of course, eat well. By Audrey Phoon By Audrey Phoon aphoon@sph.com.sg 1In a1,698 words
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Article1043 2010-02-06 4 / 5 wine dine with BTWeekend Bar on 5 Level 5, Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage1,043 words
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CEOS' HAWKER GUIDE
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Article, Illustration1459 2010-02-06 6 / 7 Audrey Phoon - BT Weekend checks out the best nasi lemak stalls in town. By Audrey Phoon aphoon@sph.com.sg NASI lemak, which means “rice in cream” in Malay, started off as just that a dish whose key ingredient was rice cooked in coconut cream. An easy takeaway meal, it wasPHOTOS BY JOHN HENG - 1,459 words
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Article, Illustration615 2010-02-06 6 / 7 Audrey Phoon - Ted Choo Chief Executive Officer Gosh Advertising By Audrey Phoon aphoon@sph.com.sg HE may be one of the top guys in Singapore’s creative industry, but when it comes to food, Ted Choo is the first to admit that he isn’t the most imaginative ofJOHN HENG - 615 words
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SHOPPING
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Article, Illustration818 2010-02-06 8 Melissa Lwee - French jewellery house Chaumet sees Singapore as a stepping stone to the rest of the region. By Melissa Lwee mellwee@sph.com.sg WHEN Chaumet decided to open a flagship boutique in Hong Kong, its president Thierry Fritsch had onlyonebrief for his architect– that it had to be “visible”818 words
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BEAUTY
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Article, Illustration430 2010-02-06 9 Corinne Kerk - BT Weekend checks out nail spas’ offerings to usher in the lunar new year. 55 Siglap Road #02-23 Siglap Centre ?6449-9939 By Corinne Kerk btnews@sph.com.sg IT’S a small outfit with a rather grandiose name in a little suburban mall. But nail spa Royale430 words
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Article, Illustration355 2010-02-06 9 Melissa Lwee - Mandarin Gallery, #03-35/36 ?6737-0030 By Melissa Lwee mellwee@sph.com.sg MOST manicure/pedicure aficionados would be no stranger to Snails the little enclave at Wheelock Place that has often been cited as one of the best nail spas in Singapore. And after seven years in business, it has finally decided to expand355 words
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Article, Illustration297 2010-02-06 9 Corinne Kerk - Sephora ION Orchard, #01-05/06 ?6509-3511 By Corinne Kerk btnews@sph.com.sg FANCY welcoming the Year of the Tiger with a roar? According to Bliss Spa, you can with its Tiger Paws manicure and Tiger Toes pedicure, two new nail services just for this Lunar New Year period (till Feb 28).297 words
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SHOPPING
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Article, Illustration1543 2010-02-06 10/11 Melissa Lwee - It’s Valentine’s Day next week so what do you get your other half? Forget the words “Tiffany” and “roses”. The catch phrase this year is “customised”, where how much you care is measured in the amount of thought and effort you put into your gift. Melissa LweePHOTO BY ARTHUR LEE - 1,543 words
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TRAVEL
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Pampered in paradise
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Article, Illustration697 2010-02-06 12 Corinne Kerk - Jl Belimbing Sari Banjar Tambiyak, Desa Pecatu ***** Bali, Indonesia ?+62 361-848-2166 Website: www.alilahotels.com/uluwatu Kick back, relax and put your feet up at these three Balinese resorts By Corinne Kerk IT is late November in Bali and the sun is beating mercilessly down on the dry, arid697 words
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Article, Illustration930 2010-02-06 12 Melissa Lwee - Jalan Karang Mas Sejahtera Jimbaran Bali ***** Indonesia ?+62 361-702-222 Website: www.ayanaresort.com By Melissa Lwee mellwee@sph.com.sg EVERY place you visit usually has a must-see sight. Beijing has the Great Wall; Paris, the Eiffel Tower; Siem Reap the Angkor Wat. What about Bali? It’s not called an930 words
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Article, Illustration472 2010-02-06 14 Corinne Kerk - The Laguna, A Luxury Collection Resort Spa, Nusa Dua, Bali Kawasan Pariwisata Nusa Dua Lot N2 Nusa Dua, Bali ***** Indonesia ?+62 361-771-327 Website: www.luxurycollection.com/bali By Corinne Kerk btnews@sph.com.sg CHILLING by the beach in a hip and happening bar with a lavish choice of cocktails, mocktails and tapas at your472 words
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Article, Illustration803 2010-02-06 15 Geoffrey Eu - Better known for its auto styling, Pininfarina’s industrial and interior design arm applies the firm’s inimitable touch to Singapore architecture. By Geoffrey Eu btnews@sph.com.sg WHEN it comes to the business of styling exotic sports cars, not many companies can compare to Pininfarina, the venerable Italian firm803 words
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SPORT
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Article, Illustration652 2010-02-06 16 Lee U-Wen - no holds barred| Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor JUST as the sporting world was getting back to normal after last November’s revelations that golfing giant Tiger Woods had cheated on his wife, the football fraternity has been stunned by news thatREUTERS - 652 words
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Article, Illustration656 2010-02-06 16 John Dykes - kick off with john dykes John Dykes WAYNE Rooney hardly invites criticism these days. His performances on the pitch have been breathtaking and his “New Dad” public persona compares favourably to that of, say, his national team captain. Even the current proceedings against him656 words
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GOLF
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Article, Illustration1067 2010-02-06 17 Geoffrey Eu - Swedish sportswear brand J.Lindeberg wants to find the balance between creativity and business. By Geoffrey Eu By Geoffrey Eu btnews@sph.com.sg IF YOU’RE young or young at heart, fit and good-looking, financially independent and a city dweller, you’re a prime candidate for J.Lindeberg, the hip and edgyARTHUR LEE - 1,067 words
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MOTORING
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Article, Illustration432 2010-02-06 18 Samuel Ee - Ever wondered what makes an automotive brand popular? Starting today, Samuel Ee will focus on each of Singapore’s Top 10 makes every week looking at a marque’s lineup here and picking the model which best defines it. This week kicks off with Toyota, the world’s No 1 carmaker.432 words
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Article, Illustration295 2010-02-06 18 Samuel Ee - lineup roundup By Samuel Ee samuelee@sph.com.sg TOYOTA has been the top make in Singapore for eight consecutive years and one of the reasons for its market strength is its wide model lineup. Singaporeans’ traditional preference for the sedan bodystyle has propelled the Corolla Altis to295 words
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Article, Illustration711 2010-02-06 19 Samuel Ee - The name may seem ungainly, but the Ferrari 599 GTB Fiorano HGTE is one nimble performance package. By Samuel Ee package.By Samuel Ee samuelee@sph.com.sg MOST Ferrari models have a concise three-digit designation, with the occasional suffix for emphasis. In the case of the Ferrari 599, there are711 words
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Article, Illustration687 2010-02-06 20 Samuel Ee - Behind the wheel, the latest Lotus is worlds apart from its predecessors.By predecessors.By Samuel Ee samuelee@sph.com.sg MENTION Lotus and the words raw and hardcore are probably the first to come to mind. Recent models from this tiny British sports car maker appeal mainly to enthusiasts who enjoy the687 words
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Page 6 / 7 Advertisements
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Advertisement38 2010-02-06 6 / 7 IN YOUR CORNER AT EVERY CORNER The trusted name in real estate for 70 years. Knight Frank's full suite of Real Estate Services: Investment Sales Residential Retail Office Industrial Auction Valuation Consultancys Research Property Management Shopping Centre Management38 words
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Page 13 Advertisements
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Advertisement130 2010-02-06 13 Dubai Shopping Festival. Fly Emirates to the Dubai Shopping Festival from 28th January to 28th February 2010. Choose from a range of hotels, starting from just S$67 per person, per night. Enjoy great bargains and see more of Dubai with special rates on tours and car hire. Pay for two130 words
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