The Business Times, 12 March 2011

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Microfilm: NL31286
Total Pages: 49
1 20 The Business Times
Page thumbnail Page 1
  • Title Section
    Lock icon Masthead
    13 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg MARCH 12 -13, 2011 S$1.00 MICA (P) 139/08/2010
    13 words
  • Article
    Lock icon Japan-linked SGX stocks hit hard
    31 1 share toll AMONG the casualties were Saizen Real Estate Investment Trust and Global Logistic Properties, which have properties in the earthquake and tsunami-hit Sendai city. 2
    31 words
  • Article
    Lock icon Aquino sees role for S'pore firms
    29 1 manila calling THE Philippine president says that local businesses can help develop infrastructure projects in his country, particularly in the transport sector. 5
    29 words
  • Article
    Lock icon No TV cameras in court, please
    35 1 privacy plea LAS Vegas Sands wants recording devices barred from the courtroom when a hearing starts next week on a lawsuit filed by fired Macau executive Steven Jacobs. 6
    35 words
  • Article
    Lock icon The vanishing Western expatriate
    35 1 labour trend AMERICAN and European expatriates in Asia appear to be a dying breed today, and the global financial crisis is seen as playing a big part in their demise. 7
    35 words
  • Article, Illustration
    Lock icon RIPPLE EFFECT
    960 1  -  Up to 300 bodies found in Sendai, ship with 100 missing; tsunami sparks Pacific evacuation By Anthony Rowley btworld@sph.com.sg Tokyo A MASSIVE force 8.9 earthquake, almost a hundred times more powerful than the one that caused mayhem in Haiti, struck Japan early yesterday afternoon, creating 10-metre-high tsunami waves
    REUTERS  -  960 words
  • Page 1 Advertisements
Page thumbnail Page 2
  • TOP STORIES: JAPAN QUAKE
    • Article
      Lock icon Local stocks with Japan exposure shaken
      786 2  -  Among the worst hit are Saizen Reit, which plunges 6% in price, and GLP, which slips 3% By Joyce Hooi joyceh@sph.com.sg Singapore LOCAL stocks with exposure to Japan spiralled downward on the Singapore Exchange yesterday, following the earthquake and tsunami that hit the country
      786 words
    • Article, Illustration
      Lock icon Quake’s fallout unlikely to be felt here: NEA
      356 2  -  By Uma Shankari shankari@sph.com.sg Singapore THE Republic is unlikely to feel the fallout from the 8.9 magnitude earthquake that struck off the northeast of Japan yesterday, said the National Environment Agency (NEA). The earthquake, which was detected at 1.46pm Singapore time yesterday
      356 words
    • Article
      Lock icon MARKETS
      140 2 H STI 3,043.49 (-31.95) H STI FUTURES 3,038 (-32) H SIMSCI 358.29 (-4.57) H SIMSCI FUTURES 358.20 (-4.40) STOCKS Friday Change KL COMP 1,495.62 -21.29 NIKKEI 225 10,254.43 -179.95 HANG SENG 23,249.78 -365.11 SET 1,007.06 -12.16 JAKARTA 3,542.23 -45.42 MANILA 3,924.35 -35.59 KOSPI 1,955.54 -26.04 SHENZHEN B 829.79 -4.23
      140 words
    • Article, Illustration
      Lock icon Travel chaos as cherry blossom shock looms
      815 3  -  Haneda swamped as Narita, Sendai airports close; flights diverted, tourist season teeters By Ven Sreenivasan, Nisha Ramchandani ven@sph.com.sg nishar@sph.com.sg Singapore IT was massive travel mayhem at Tokyo’s airports yesterday, where Sendai Airport was submerged by the massive tsunami, and Narita was shut down,
      REUTERS  -  815 words
    • Article
      Lock icon ‘Worst I’ve experienced in 20 years in Japan’
      507 4  -  In his apartment when it struck, BT’s Tokyo correspondent tells how he knew yesterday’s quake was no minor tremor By Anthony Rowley bt wo rl d @s p h .co m .sg Tokyo IT was the worst quake I have experienced in
      507 words
    • Article
      Lock icon Roubini: quake is worst thing at worst time for Japan
      257 4 Bloomberg London NOURIEL Roubini, the economist who predicted the global financial crisis, said that Japan’s earthquake comes at the “worst time” as the country struggles to lower its budget deficit. “This is certainly the worst thing that can happen in
      Bloomberg  -  257 words
  • Page 2 Advertisements
    • Advertisement
      Lock icon Page 2 Advertisements Column 1
      65 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Companies 10-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-31 Pimco fund 32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-5 Shopping L6-8 Watches L9
      65 words
Page thumbnail Page 3
  • Page 3 Advertisements
    • Advertisement
      Lock icon Page 3 Advertisements Column 1
      165 3 (i 0) SINGAPORE MEDICAL SPECIALISTS CENTRE s4 JlittCe 1p>u I Healthcare Choice One "Day One Stofo One Centre V > >. rs NGAPORE MEDICAL SPECI Orchard Road #09-23/27 Paragon (+65) 6881 8000 Fax. (+65) 6836 5 Expertise in Early Detection and Preventive Approach Singapore Medical Specialists Centre is a premier
      165 words
Page thumbnail Page 4
Page thumbnail Page 5
  • TOP STORIES
    • Article, Illustration
      Lock icon Aquino sees key role for S’pore businesses
      676 5  -  Philippine president calls upon companies here to help his country develop its infrastructure By Malminderjit Singh msingh@sph.com.sg Singapore SINGAPORE businesses can play an important role in infrastructure projects in the Philippines particularly in the transport sector, said Philippine President Benigno Aquino. In his
      AP  -  676 words
    • Article
      Lock icon Fresh ‘people power’ in action in Middle East, North Africa
      422 5  -  By Teh Shi Ning tshining@sph.com.sg Singapore EVENTS unfolding in the Middle East and North Africa are a fresh demonstration of “people power”, says Philippine President Benigno Aquino. And those who ask if such uprisings could happen in this part of
      422 words
    • Article, Illustration
      Lock icon No TV cameras, recording in court, please
      603 6  -  Las Vegas Sands objects to Frontline’s request to broadcast and record proceedings of suit filed by fired CEO By Grace Leong gleong@sph.com.sg Singapore LAS VEGAS Sands Corp wants television cameras and other recording devices barred from the courtroom when a hearing starts next
      AFP FILE PHOTO, REUTERS  -  603 words
    • Article
      Lock icon Dip in power demand draws industry’s attention
      395 6  -  By Ronnie Lim ronnie@sph.com.sg Singapore ELECTRICITY demand in Singapore slowed in the first two months of this year compared to last December, latest Energy Market Company (EMC) data shows. While EMC attributed the slowdown mainly to the Chinese New Year holiday stretch here,
      395 words
    • Article, Illustration
      Lock icon The Western expatriate’s vanishing trick
      608 7  -  They appear to be a dying breed today and the global financial crisis is seen playing a big part in their demise By Linette Lim llinette@sph.com.sg Singapore IN describing the shrinking opportunities for Western expatriates in Asia, The Economist recently coined the term Fishtails “failed
      608 words
    • Article, Illustration
      Lock icon KL banks’ statutory reserves doubled to 2%
      451 7  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’Scentral bank hasleft key interest rates unchanged but raised the statutory reserve requirement (SRR) ratio for banks to 2 per cent from one per cent to manage large capital inflows and the swirling liquidity in the system.
      BLOOMBERG  -  451 words
    • Article
      Lock icon China inflation in February hits 4.9%, beating forecasts
      380 7 Reuters Beijing CHINESE inflation has topped expectations, with prices rising 4.9 per cent in the year to February and looking set to climb faster in coming months, adding to pressure for another dose of monetary tightening. But data published yesterday also offered
      Reuters  -  380 words
  • Page 5 Advertisements
Page thumbnail Page 6
Page thumbnail Page 7
Page thumbnail Page 8/9
  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Change agent
      2361 8/9  -  Changeagentglobal Gordon Brown, former prime minister of the UK, shares his insight on the dire need for financ global financial supervision, given that financial flows and financial institutions have gone global.By global.By Anna Teo anna@sph.com.sg IN person, Gordon Brown doesn’t come across as the dry, impersonal politician portrayed
      ARTHUR LEE  -  2,361 words
Page thumbnail Page 10
  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK March 7-11, 2011
      • Article
        Lock icon To market, to market with a social conscience
        51 10 ASIA’S first full-fledged social stock exchange could be up and running in Singapore by early next year. And while details get ironed out, the organisation behind it will launch on March 31 an online portal to match-make keen investors with socially impactful
        51 words
      • Article
        Lock icon More people taking up new mortgages had multiple loans
        55 10 AS many as 15.1 per cent of individuals who obtained a new property loan last year were already holding two or more outstanding property loans. While this proportion has remained relatively stable over the years, the absolute number of borrowers making
        55 words
      • Article
        Lock icon When corporate boards don’t come up roses
        48 10 ON the boards of Singapore’s 100 largest local companies by market capitalisation, less than 7 per cent of directors are women. This is lower than Hong Kong boards’ 8.6 per cent female representation and Australia’s 11.2 per cent, says Korn/Ferry International.
        48 words
      • Article
        Lock icon Hutchison makes waves with port trust IPO launch
        60 10 SINGAPORE’S largest initial public offering that was launched on Monday a Hutchison Whampoa spin-off in the form of Hutchison Port Holdings Trust is seeing “overwhelmingly enthusiastic” response, even in a jittery equities climate that has not been kind to recent IPOs. The
        60 words
      • Article
        Lock icon For true picture, Redas to highlight its shades
        52 10 THE Real Estate Developers’ Association of Singapore has set up a new unit to conduct research into issues that concern the property market. It hopes that the research would lead the government to calibrate any measures for cooling the market to target
        52 words
      • Article
        Lock icon Note of caution over rush for RMB products
        48 10 PENT-UP demand for the Chinese currency has led Singapore investors to pour four billion renminbi or about S$760 million into RMB products in less than two months. But the investments come with considerable risks because of volatile foreign exchange movements.
        48 words
      • Article
        Lock icon Bar raised for white-collar foreigners
        42 10 THE foreign worker levy isn’t the only screw that the government is applying to tighten the inflow of foreign workers. It has also turned its attention to foreigners doing white-collar jobs and raised the bar for them.
        42 words
      • Article
        Lock icon Economists up GDP estimates, sweat over inflation
        76 10 THE Republic’s economy is now expected to grow a higher 5.7 per cent and witness a sharper price inflation of 4 per cent this year, according to a poll of analysts by the Monetary Authority of Singapore. The median GDP growth forecast of
        76 words
      • Article, Illustration
        Lock icon HPH Trust IPO – not as big but still the biggest
        84 10 HPH Trust IPO not as big but still the biggest THE ceiling for Hutchison Port Holdings Trust’s initial public offering may have been lowered, based on talk that its offer price range has been narrowed. According to reports, the price range for the trust that will hold Hutchison Whampoa’s port
        84 words
      • Article
        Lock icon Govt moves to protect conveyancing money
        50 10 LAW Minister K Shanmugam on Thursday introduced a Bill in Parliament seeking to reduce the risk of rogue lawyers running off with clients’ conveyancing money. If passed, the Conveyancing (Miscellaneous Amendment) Bill will bar lawyers from holding conveyancing money in their regular client accounts.
        50 words
      • Article
        Lock icon BRIC accounts for more than half of new billionaires
        66 10 THE Asia-Pacific region produced 105 new billionaires in 2010, more than Europe for the first time in over a decade and the most for any region, according to Forbes magazine’s annual tally of the world’s super-rich. China alone produced 54 new
        66 words
    • Article
      Lock icon NEXT WEEK Mar 14-18, 2011
      83 10 US DATA March 15 Feb export prices Feb import prices March 16 Feb core PPI Q4 current account balance March crude inventories March 17 March initial claims Feb CPI Feb industrial production SINGAPORE DATA March15 Jan retail sales and catering trade indices March 17 Feb
      83 words
  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      339 10 CRYPTIC CROSSWORD Across 1 Be clearly out when turning ball goes to fielder (5,5) 9 Be mother for the French (4) 10 Jovial acknowledgement of a bad standard (5,5) 11 Spent two notes at the charity ‘do’ (6) 12 Unusually big task carried out by servicemen (7) 15 She is
      339 words
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 2
      14 10 SATURDAY with Ludwig ‘The signal is fine but the roaming charges will kill us...’
      14 words
Page thumbnail Page 11
  • COMPANIES
    • Article, Illustration
      Lock icon DBS HK rides on ‘megatrend’ of RMB internationalisation
      449 11  -  CEO aims to grow share of RMB deposits, stay ahead of curve in RMB products and trends By Lynn Kan lynnkan@sph.com.sg Singapore DBS Hong Kong’s new CEO says DBS Group Holdings’ Hong Kong franchise is poised to ride the “irreversible megatrend” of
      449 words
    • Article
      Lock icon OCBC RMB products for Premier customers
      375 11  -  By Siow Li Sen lisen@sph.com.sg Singapore OCBC Bank, the latest bank here to offer renminbi (RMB) products, is doing so with a big dose of caution. It is also selling the riskier RMB deposits only to sophisticated investors and said that investors should remember
      375 words
    • Article
      Lock icon SGX lodges ASX merger proposal with Australia’s FIRB
      383 11 Reu ters Singapore SINGAPORE Exchange lodged a formal tiontoAustralia’sFIRByesterday to get approval for its proposed US$7.7 billion takeover of ASX, bringing it one step closer to a deal to create a large pan-Asian bourse operator. SGX’s cash-and-share bid for ASX has already
      Reuters  -  383 words
    • Article
      Lock icon CMT’s $250m bond issue fully taken up
      421 12  -  To meet overwhelming response, lead manager may choose to exercise upsize option to raise size of issue to $350m By Michelle Tan michtyz@sph.com.sg Singapore CAPITAMALL Trust’s (CMT) $250 million offering of threeyear unsecured convertible bonds has been fully snapped up by institutional and
      421 words
    • Article, Illustration
      Lock icon HPH Trust prices its S’pore IPO at US$1.01 per unit: sources
      742 12 Reuters Hong Kong/Singapore HONG Kong billionaire Li Ka-Shing’s Hutchison Port Holdings Trust priced its Singapore IPO at US$1.01 per unit, in the middle of a US$0.99-US$1.03 indicated range which itself was tightened from a wider range on Thursday, three
      Reuters; REUTERS  -  742 words
    • Article
      Lock icon MMI calls off $1b S’pore IPO
      127 12 Reuters Singapore MMI Holdings, backed by private equity group KKR, has called off its $1billionSingaporeinitialpublic offeringduetorecent marketvolatility, two sources familiar with the matter said yesterday. “KKR is not proceeding with the IPO because of volatile financial markets,” a source with knowledge of the deal
      Reuters  -  127 words
    • Article, Illustration
      Lock icon Berlian Laju dealt cabotage curveball
      472 13  -  Abandoning cabotage rule could mean more competitive environment for its FPSO bids By Joyce Hooi joyceh@sph.com.sg Singapore IT has been a month of varied fortunes for Indonesian chemical tanker operator PT Berlian Laju Tanker. Barely three weeks after securing refinancing and a credit rerating upgrade,
      BLOOMBERG  -  472 words
    • Article
      Lock icon Rate rises rattling E Asia equity funds
      206 13 Reuters London THE threat of further interest rate rises and spiking inflation in East Asia sent equity funds investing in the region to the bottom of the performance tables in February, Lipper data showed. Funds investing in China, Taiwan or Korea represented eight
      Reuters  -  206 words
    • Article
      Lock icon Bid for Full Apex meeting came from Pope Asset Management
      592 13  -  By Lynn Kan lynnkan@sph.com.sg Singapore THE substantial shareholder whose requisition for a special general meeting over an asset sale was rejected by Full Apex (Holdings) is Tennessee-based Pope Asset Management. Pope Asset’s portfolio manager, Bill Wells, told BT he was
      592 words
    • Article, Illustration
      Lock icon Not a good week as oil rises and Wall St falls
      591 14  -  STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent YESTERDAY’S selloff that resulted in the Straits Times Index (STI) dropping 31.95 points to 3,043.49 was widely attributed to Wall Street’s steep Thursday plunge. An afternoon earthquake in Japan initially increased the STI’s
      591 words
    • Business briefing
      • Article
        Lock icon Fragrance unit selling property for $46m
        60 14 FRAGRANCE Group’s unit Fragrance Ventures is selling a property for $46 million. The property, originally a commercial building, was bought in 2009 and is now undergoing major additions and alterations including change of use. The transaction, if completed, will contribute significantly to the consolidated
        60 words
      • Article
        Lock icon Popular’s Q3 profit jumps 47.8% to $11.6m
        123 14 BOOKSTORE chain Popular Holdings, whose activities also include property development, posted a net profit of $11.59 million for its fiscal third quarter ended Jan 31, up 47.8 per cent from $7.85 mil- lion a year ago. Revenue for the period rose 12.5 per
        123 words
      • Article
        Lock icon Lifebrandz rebounds with $38,000 Q2 earnings
        37 14 LIFEBRANDZ posted a net profit of $38,000 for the second quarter ended Jan 31, against a net loss of $170,000 a year ago. Revenue rose 14 per cent to $9.32 million.
        37 words
    • Article
      Lock icon TOP GAINERS
      56 14 BY CENTS CLOSE UP DBXT S&P Short 10US$ 4369 89.1 1.6 DBXT FTVietnam 10US$ 3441 76.4 1.8 Asia Pac Brew 2200 50.0 2.3 DBXT iBoxxSing 5SG$ ***** 29.0 0.2 JMH 4688 10.2 0.2 DairyFarm 814 8.9 0.9 HK Land 694 5.1 0.6 Challenger 45 5.0 12.5 SIMSCI360MBePW1104 30
      56 words
    • Article
      Lock icon TOP LOSERS
      65 14 BY CENTS CLOSEDOWN IS S&P500 ***** -317.0 -1.9 DBXT MS KOREA 10US$ 5601 -317.0 -4.3 DBXT Nifty 10US$ ***** -220.2 -1.4 DBXT SPASX200 10US$ 3349 -213.8 -4.8 IS DJ US Tech 6534 -170.6 -2.0 GLD 10US$ ***** -140.0 -0.8 DBXT DBCBDJUBS10US$ 3784 -76.4 -1.6 DBXT DBLCI-OY 5US$ 4156
      65 words
    • Article
      Lock icon SGX, UBS tie up to showcase top Singapore-listed firms abroad
      325 14  -  By Siow Li Sen lisen@sph.com.sg Singapore THE Singapore Exchange (SGX) has tied up with UBS to introduce Singapore-listed companies to international investors in a bid to increase their exposure. In a joint press release yesterday, SGX and UBS said they
      325 words
    • Article
      Lock icon TOP 20 ACTIVES
      111 14 VOL CLOSE GoldenAgri 140,868 65 -2.0 -3.0 GentingSP 68,946 196 -4.0 -2.0 Passion 50,692 26 0.0 0.0 GLP 46,992 190 -6.0 -3.1 Dyna-Mac 43,548 47.5 -1.5 -3.1 NobleGrp 35,468 202 -4.0 -1.9 Yangzijiang 21,062 174 -4.0 -2.2 Informatics 20,646 11 1.0 10.0 IndoAgri 20,225 218 -10.0 -4.4
      111 words
    • Article
      Lock icon STI STOCKS
      112 14 Stock name Close Change CapMallsAsia 1.700 -0.020 CapitaLand 3.290 -0.040 CapitaMall 1.810 -0.020 CityDev 11.020 -0.080 ComfortDelGro 1.510 -0.050 DBS Grp 14.360 -0.060 F&N 5.750 -0.100 Genting SP 1.960 -0.040 Golden Agri 0.650 -0.020 HK Land 6.940 +0.040 JMH 46.880 +0.080 JSH 27.840 -0.160 Jardine C&C 35.200 -0.460
      112 words
  • Page 11 Advertisements
    • Advertisement
      Lock icon Page 11 Advertisements Column 1
      235 11 @%*[|=~|_~?]?!^^,]{]@\^*;<){->] FORM 69(3) NOTICE OF INTENDED DIVIDEND Name of Company Kian Seng Lee (1488) Food Manufacturers Pte Ltd (In Liquidation) Co. Reg. No. *****7126W Address of Registered Office c/o The Liquidator’s Office Number of Matter Companies Winding Up No. 83 of 2008/A Last day for receiving Proofs 29 March 2011
      235 words
Page thumbnail Page 12
Page thumbnail Page 13
  • Page 13 Advertisements
    • Advertisement
      Lock icon Page 13 Advertisements Column 1
      382 13 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 GREEN DOT CAPITAL PTE LTD (REGISTRATION NO.: *****4797Z) (INCORPORATED IN SINGAPORE) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 60B Orchard Road, #06-18 The Atrium@Orchard, S(*****1) on the 8 MARCH 2011 the Resolutions set out
      382 words
Page thumbnail Page 14
Page thumbnail Page 15
  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Driving Asia out of a jam
      1188 15  -  Governments need to act now as a delay in action will create greater societal and economic shocks, with severe long-term implications on the growth and development of the region from the desk of Peter Carlsson Senior Vice-President and CPO NXP IF I were to
      1,188 words
Page thumbnail Page 16
  • SINGAPORE
    • Article
      Lock icon PetroVietnam setting up trading office in Singapore
      397 16  -  Its trading unit PV Oil will engage in crude oil trading, including exporting some of the oil to Vietnam, says Viet media By Ronnie Lim ronnie@sph.com.sg STATE-RUN PetroVietnam (Vietnam Oil and Gas Group) through its trading arm PV Oil is setting up trading
      397 words
    • Article
      Lock icon SPH unveils account for The Pitch: Paragon mall
      239 16  -  80 ad agencies attend briefing for a go at prizes, multi-platform job By Kelly Tay kellytay@sph.com.sg WITH a prestigious award, prizes worth $500,000 and a multi-platform advertising campaign on the line, The Pitch competition officially took off yesterday. More than 180 professionals
      239 words
    • Article
      Lock icon ICBC picks S’pore for regional yuan business
      404 17  -  China bank opens its first overseas yuan processing centre here as cross-border transactions grow By Lynette Khoo lynkhoo@sph.com.sg THE Industrial Commercial Bank of China (ICBC) has opened its first overseas yuan processing centre right here in Singapore to serve the South-east Asian market.
      404 words
    • Article, Illustration
      Lock icon Seagate sponsors sculpture workshop for BT BAF children
      287 17  -  27 kids turn sculptors, using 600 scrapped disks, $7,500 donation By Jermaine Ng ngshjer@sph.com.sg SEAGATE Technology International has donated $7,500 to The Business Times Budding Artists Fund (BT BAF) to sponsor a sculpture-making workshop. This comes slightly more than a year after
      287 words
    • Article
      Lock icon Heeton-led group buys Camay for $30.5m
      378 18  -  Site has the potential to be redeveloped into about 70 apartments with an average size of about 650 square feet each By Mindy Tan tanmindy@sph.com.sg HEETON Holdings, KSH Holdings, and TEE International have entered into a private treaty to acquire Camay Court for $30.5
      378 words
    • Article, Illustration
      Lock icon Public education the way to go in tackling terrorists: dons
      476 18  -  By Maxie Aw Yeong maxieay@sph.com.sg THE Moscow bombings will probably not happen in Changi, but it is still vulnerable, according to anti-terrorism specialist Alan Hatcher. “The Changi security is very good,” he said. “If a bomb like what was in
      THE STRAITS TIMES FILE PHOTO  -  476 words
  • Page 16 Advertisements
    • Advertisement
      Lock icon Page 16 Advertisements Column 1
      18 16 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices GATS NOTICES
      18 words
    • Advertisement
      Lock icon Page 16 Advertisements Column 2
      34 16 Your window to the marketplace March/Aprilissue out now! Available at all petrol stations (except Caltex) and all major bookstores To subscribe ($30 for six issues delivered to your office or home), please call 6388-3838
      34 words
Page thumbnail Page 17
Page thumbnail Page 18
Page thumbnail Page 19
  • world
    • Article
      Lock icon India’s output growth in Jan beats estimates
      542 19 The 3.7% rise gives Reserve Bank scope to hike interest rates and fight inflation; faster economic growth spurring incomes Bloomberg New Delhi INDIA’s industrial output grew more than analysts expected in January, supporting economic growth and giving the central bank scope to increase
      Bloomberg  -  542 words
    • Article, Illustration
      Lock icon iPad 2 sales start with online orders
      413 19 AP San Francisco APPLE Inc’s updated version of its iPad tablet computer was expected to be available in stores yesterday afternoon but those who could not wait to say they owned the gadget had the option of beating the crowds by ordering one
      AP; BLOOMBERG  -  413 words
    • Article
      Lock icon Kan won’t quit despite confirming illegal donations
      397 19 He says he was misled by donor’s Japanese name AP Tokyo JAPANESE Prime Minister Naoto Kan said yesterday that he would not resign even after acknowledging that his campaign office had unknowingly received illegal donations from a foreign supporter days after his foreign
      AP  -  397 words
    • Article
      Lock icon Cables show how China dealt with AIG fall
      668 20 Its insurance regulator is said to have shared confidential information about the troubled firm with local players Reuters New York US officials believe that China’s insurance regulator passed on proprietary information about AIG to its Chinese rivals during the American firm’s collapse
      Reuters  -  668 words
    • Article, Illustration
      Lock icon Up corn imports for private firms, China urged
      406 20 Bloomberg Beijing CHINA, the world’s second-biggest cornuser, shouldissue morelow-tar-iff import quotas for the private livestock industry to increase supplies and bolster production of meat, eggs and dairy, a government adviser said. Livestock feed output in China may gain 67 per cent in
      Bloomberg; BLOOMBERG  -  406 words
    • Article, Illustration
      Lock icon Irish PM rejects Merkel’s proposal at EU summit
      549 21 This may slow things down as EU leaders race to resolve eurozone crisis by March 25 Bloomberg Brussels IRISH Prime Minister Enda Kenny rebuffed German Chancellor Angela Merkel’s conditions on easing bailout terms, setting up a clash as European Union leaders struggle
      Bloomberg; AP  -  549 words
    • Article
      Lock icon Fighting centres over Libya’s oil fields now
      357 21 Bloomberg Benghazi FIGHTING in Libya centred on control of key oil fields yesterday as NATO forces continue to mull over actions against Muammar Gaddafi’s government. Libyan forces loyal to ColonelGaddafi drove rebels from the Mediterranean oil hub of Ras Lanuf as anti-regime forces
      Bloomberg  -  357 words
    • Article
      Lock icon Retail sales climb 1% in Feb
      486 21 Rise is the most in 4 months; job gains among reasons cited latest us data| Bloomberg Reuters Washington US retail sales climbed in February by the most in four months, spurred by job gains and more seasonable temperatures. The one per cent increase in
      Bloomberg; Reuters  -  486 words
    • Article
      Lock icon Spanish banks seek investors to plug shortfall
      487 22 Lenders now have as long as a year to raise 15.2b euros to meet minimum capital levels or risk being taken over by a govt bailout fund Bloomberg Madrid SPANISH banks that together need as much as 15.2 billion euros (S$26.7 billion) to
      Bloomberg  -  487 words
    • Article, Illustration
      Lock icon Stanley Ho says dispute ends, driving up SJM stock price
      619 22 Bloomberg New York BILLIONAIRE Stanley Ho says his legal dispute with family members over ownership of their Macau gambling business has been resolved, and he has withdrawn his lawsuit, driving up SJM Holdings Ltd’s shares. A settlement agreement was executed
      Bloomberg; AFP  -  619 words
Page thumbnail Page 20
Page thumbnail Page 21
Page thumbnail Page 22
  • Page 22 Advertisements
    • Advertisement
      Lock icon Page 22 Advertisements Column 1
      29 22 Small restaurants at Geylang jump on late-nightdeliverybandwagon 半夜凌晨餐芽笼小餐馆新商机《 To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      29 words
Page thumbnail Page 23
Page thumbnail Page 24
Page thumbnail Page 25
Page thumbnail Page 26
  • SGX
    • Article
      Lock icon SGX CATALIST
      10165 26 Transaction date: Mar 11 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 8Telecom 17.5 17 17.5 7.8 3.5 3.7 83.8 12 4.5 A-Sonic 7 unch 395 7 7 6.5 7 1.9
      10,165 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 10 3 0 0 0 2 10 3 Manufacturing 18 98 54 1 7 10 19 105 64 Commerce 11 30 23 1 5 3 12 35 26 Tpt/Stor/Comms 3 29 8
      186 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      833 26 For week beginning Mar 7 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Wilmar Intl Ltd 10-Mar-11 Martua Sitorus OE 400 4.50 4588 0.07 4988 0.08 Aspial Corp Ltd 9-Mar-11
      833 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 29,166 29,166 139,944 139,944 Manufacturing 282,653 14,877 297,530 272,495 649 273,144 Commerce 78,437 10,795 89,232 136,524 1,685 138,209 Tpt/Stor/Comms 93,611 2,175 95,786 158,100 375 158,475 Finance 26,805 26,805 215,836 215,836 Construction 23,535 1,073 24,608 5,219
      121 words
Page thumbnail Page 27
  • MARKETS
    • Article
      Lock icon I FOREIGN CURRENCY NOTE RATES
      119 27 Mar 11 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.319 1.245 Can dollar 1.332 1.281 Euro 1.792 1.724 Sterling pound 2.086 2.006 NZ dollar 0.962 0.917 US dollar 1.293 1.244 Local dollars to 100 units of foreign currency: Currencies
      119 words
    • Article, Illustration
      Lock icon STOCK MARKETS
      95 27 YTD change: -4.60% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,648.15 on May 25,2010 Source: Bloomberg YTD change: +0.93% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 18,971.50 on May 27,2010 Source: Bloomberg Bloomberg YTD change: +3.52% 52-week high: 12,391.20 on Feb 18, 2011 52-week low: 9,614.32
      Source: Bloomberg  -  95 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT`L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Mar 10 Index Change Change Change Change Change Change World Index Preliminary 919.3 -1.3 2.4 -1.2 2.3 -1.7 2.9 ‡EAFE Preliminary 811.7 -1.2 1.3 -1.5 1.6 -1.9 2.2 Europe Preliminary 1181.8 -1.1
      374 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Mar 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2721 1.2738 0.9994 0.9999 Canadian dollar 1.3057 1.3072 1.0257 1.0262 Euro 1.7580 1.7600 1.3811 1.3816 NZ dollar 0.9347 0.9361 0.7343 0.7348 Sterling pound 2.0405 2.0426 1.6030 1.6034
      154 words
    • Article
      Lock icon LIFFE
      82 27 Mar 10 COCOA (£/tonne) Close Prev High/Low Mar 11 2239 2254 2240/2147 May 11 2244 2259 2252/2157 Jul 11 2221 2238 2227/2133 Sep 11 2208 2222 2212/2126 COFFEE (US$/tonne) Close Pev High/Low Mar 11 2465 2481 2496/2465 May 11 2508 2557 2545/2495 Jul 11 2475 2492 2500/2455 Sep 11
      82 words
    • Article
      Lock icon PALM OIL
      67 27 Mar 11 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett A\> Month Ranee Price Price High Lew Vol Done Open Position Ma» 11 3508 3440 3640 3440 267 1199 Apr 11 3474 3399 3514 3399 2740 ***** May it 3457 3364 34S3 3356 ***** ***** Jun 11 3432 3345
      67 words
    • Article
      Lock icon CHICAGO BOT
      93 27 Mar 10 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 11 1348.*****4.*****8.*****8.00 May 11 1355.*****9.*****9.*****1.75 Jul 11 1363.*****7.*****6.*****0.00 Aug 11 1357.*****0.*****0.*****1.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Mar 11 56.48 56.67 56.90 55.20 May 11 56.93 57.12 57.55 55.55 Jul 11 57.48 57.62 58.08
      93 words
    • Article
      Lock icon OIL
      75 27 Mar 10 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 114.22 -1.44 WTI (Near Mth) 102.60 -1.49 Dubai (1-Mth F) 109.87 1.40 Tapis blend 120.13 1.97 Minas 116.23 2.07 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 110.78 2.50 Jet Kerosene 131.80 2.40 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon LONDON METALS
      71 27 Mar 10 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2553.00 2544.25 3 months 2586.00 2579.00 Copper, Grade A (US$/tonne) Cash 9173.00 9257.00 3 months 9191.00 9275.00 Lead (US$/tonne) Cash 2444.00 2493.00 3 months 2430.00 2480.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
    • Article
      Lock icon METALS
      68 27 Mar 11 GOLD (US$/oz) Mar 10 Mar 11 Hong Kong 1426.*****7.50 Mar 09 Mar 10 London 1428.*****7.20 1429.*****8.10 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 45.06 44.84 Source: UOB PLATINUM Lon (US$/oz) Mar 10 Close Previous PM Fix 1778.*****1.00 AM Fix 1790.*****3.00 Source: Thomson Reuters PLATINUM NYMEX
      68 words
Page thumbnail Page 28 / 29
  • PERSPECTIVE
    • Article, Illustration
      Lock icon The perils of Intel everywhere
      1086 28 / 29  -  Despite litigations and hefty fines, the chip giant continues to dominate the market. Is it good for the consumer and what can buyers do about it? By Lawrence Loh ~Dr Lawrence Loh is associate professor in the department of strategy policy, NUS Business School. He
      AFP  -  1,086 words
    • Article, Illustration
      Lock icon India held hostage by coalition politics, graft, looming polls
      835 28 / 29  -  Yogi Aggarwal The writer is a Mumbai-based journalist who contributes regularly to BT AT the best of times, coalition politics is like a game of chess, specially when a government has such a narrow majority as does India’s Congress-led coalition at
      835 words
Page thumbnail Page 30 / 31
  • Wealth
    • WEALTH
      • Article, Illustration
        Lock icon A look at rating systems for funds
        994 30 / 31  -  Though methodology and metrics used differ, they provide a starting point for investors and analysts to sift through funds.By funds.By Genevieve Cua PICKINGfundsisabe-wilderingexercise.It’s easy enough to pick last year or last quarter’s winner, but we are often admonished that historical performanceis noindication of
        994 words
      • BROKERS' TAKE
        • Article
          Lock icon United Envirotech
          396 30 / 31 Buy OCBC Inv Research, Mar 11 Close: $0.39 UNITED Envirotech (UEL), one of the leading membrane-based waste-water treatment companies listed on the SGX, currently operates five water treatment plants in China with a total design capacity of some 385,000 cubic metres per day. It is also in the
          396 words
        • Article
          Lock icon Singapore transport
          386 30 / 31  -  DBS Vickers, Mar 11 Compiled by Lynette Khoo WE believe the market has more than factored in the current high prices due to the current Mideast turmoil. This is an opportunity to buy Singapore Airlines (SIA), which seems over-sold, and ComfortDelGro, which offers value. To stay on the
          386 words
      • Article, Illustration
        Lock icon Quakes’ rising impact on markets
        1220 33  -  show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder CHRISTCHURCH in New Zealand was badly hit by an earthquake last month. Now, an even bigger one has hit the north-eastern coast of Japan. Yesterday’s earthquake measured 8.9 on
        1,220 words
    • Article, Illustration
      Lock icon New Pimco fund goes easy on derivatives
      1304 32 The conservative Pimco Total Return FundIV won’t borrow to create leverage or invest in options Bloomberg BILL Gross is starting a new version of his Pimco Total Return Fund that will rely less on derivatives and leverage, two of the tools he used
      Bloomberg; BLOOMBERG  -  1,304 words
    • WEALTH REAL ESTATE
Page thumbnail Page 32
Page thumbnail Page 33
Page thumbnail Page 34
Page thumbnail Page 35
Page thumbnail Page 36
  • Page 36 Advertisements
    • Advertisement
      Lock icon Page 36 Advertisements Column 1
      92 36 V W\ ysr'M-2 AUDEMARS PIGUET Le maitre de I'horlogerie depuis 1875 *w., 5 1 60 i mn II L#g! hi/// m 7', m. V O o 'Ss w a? ss V. o o m PlGU i pr SSISSG G o SJ! VJ o S£ V I to =5s m w
      92 words
Page thumbnail Page 1
  • Page 1 Advertisements
    • Advertisement
      Lock icon Page 1 Advertisements Column 1
      55 1 LivingTHEBUSINESSTIMESWEEKEND|MARCH12-*****1BTTHE BUSINESS TIMES WEEKEND MARCH 12-13 2011 CAFES, CULTURED Small cafes serving up big ideas L2-4 LOYSEL’S TOY SIPHON METHOD COFFEE. PHOTO: YEN MING PERSONAL SPACE Serenity all round L10-11 SHOPPING Weekender finds L6-8 GADGETS Head turners L14 WATCHES Coming attractions L9 HEALTH Rhythm and blues L15 F1 WATCH The
      55 words
Page thumbnail Page 2/3
  • BT Living
    • DINING
      • Article, Illustration
        Lock icon Cafes, cultured
        2325 2/3  -  They’re small and can’t compete with large-scale players in terms of flash or volume, but a growing number of such boutique cafes here are changing the dining scene in a disproportionate way. Be it educating diners about gourmet fare, spreading the word on social responsibility or roasting some
        PHOTOS: YEN MENG JIIN; YEN MENG JIIN  -  2,325 words
      • Article, Illustration
        Lock icon Hidden oasis
        781 5  -  A three-in-one dining concept is set to liven up the sleepy enclave of Martin Rd. By Geoffrey Eu btnews@sph.com.sg MARTIN Road sits at one end of the vibrant Mohamed Sultan hub but not much seems to have rubbed off on it and it has lagged behind in terms
        PHOTO OF YENN WONG BY ARTHUR LEE, ALL OTHER PHOTOS BY YEN MENG JIIN  -  781 words
    • SHOPPING
      • Weekender finds
        • Article, Illustration
          Lock icon Old-school trivia trove
          550 6/7  -  Whoever said ‘Never on a Sunday’ has not heard of the success of BT Weekend’s four niche businesses By Melissa Lwee By My Old School 16 Normanton Park, 01-169F http://bymyoldschool.wordpress.com/ Open from noon to 8pm on Saturdays; rest of the week by appointment only IF EVER there
          PHOTOS OF BY MY OLD SCHOOL: ARTHUR LEE  -  550 words
        • Article, Illustration
          Lock icon Still spinning dreams in vinyl
          608 6/7  -  By Dylan Tan dylantan@sph.com.sg Red Point Record 80 Playfair Road, Kapo Factory Building Block B, #06-11 Z 9066-6799 (www.lprecords.typepad.com) Open from 11am to 8pm on Saturdays; 11am to 6pm on Sundays; and 11am to 5pm on public holidays THE MacPherson factory area is a ghost
          PHOTOS: RED POINT  -  608 words
        • Article, Illustration
          Lock icon Watch this space
          455 6/7  -  By Melissa Lwee Because We Like It 3 Coleman Street, Peninsula Hotel and Shopping Complex, #03-38 http://www.becausewelikeit.com Open on Sundays from 1pm to 5pm BECAUSE We Like It may have been in Peninsula Hotel and Shopping Complex for six years, but unless you’re one of the select
          455 words
        • Article, Illustration
          Lock icon Career shoppers work their niche
          644 8  -  By Melissa Lwee mellwee@sph.com.sg nana bird Block 24, Tiong Bahru Road, #04-131 http://nanaandbird.com/ Open usually on the last Saturday of the month, from 11am to 6pm THERE is new life amid the quaintness of the Tiong Bahru area. Thanks to an array of cool lifestyle
          PHOTOS: NANA & BIRD  -  644 words
    • WATCHES
      • Article, Illustration
        Lock icon Coming attractions
        472 9  -  A sneak peek of what’s in store at the upcoming BaselWorld, the year’s biggest watch and jewellery fair. By Dylan Tan dylantan@sph.com.sg Bell Ross Vintage Original Carbon (right) B&R’S Vintage family adds a new member for 2011: the Vintage Original Carbon. Like most of the brand’s timepieces, the
        472 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Serenity all round
        1084 10 / 11  -  The line between home and resort is blurred when home is a bungalow in a residential enclave on Sentosa.By personal space Sentosa.By Geoffrey Eu btnews@sph.com.sg THE path to a dream home and a resort lifestyle was relatively smooth for retired couple Jenny Lye and Siaw Hooi Chuan,
        ARTHUR LEE  -  1,084 words
    • TRAVEL
      • Article, Illustration
        Lock icon Kingdom of clay
        1391 12 / 13  -  the wake of the damage Egypt’supheaval has inflicted on tourism, comes the realisation that its capital Cairo, seen on an earlier family vacation, was then a society on the brink of a revolution.By revolution.By Stefanie Yuen Thio btnews@sph.com.sg ~The writer is joint managing director of TSMP Law
        PHOTOS: STEFANIE YUEN THIO, AFP, REUTERS  -  1,391 words
    • GADGETS
      • Article, Illustration
        Lock icon HEAD TURNERS
        530 14  -  Discounts are always a highlight of electronics shows, but what if you are also shopping for new gadgets? The IT Show 2011 features an array of both cutting-edge stuff as well as slightly older products. The show runs till tomorrow so there’s still time to grab some deals.
        530 words
    • HEALTH
      • Article, Illustration
        Lock icon Rhythm and blues
        990 15  -  Doctors are realising depression has much to do with the body’s circadian rhythms. By Cheah Ui-Hoon uihoon@sph.com.sg ASK someone “So which side of the bed did you get up from?” and they should know you’re referring to their unusual crabbiness that day. It refers to someone being
        FILE PHOTO  -  990 words
    • SPORT
      • Article, Illustration
        Lock icon Neil’s had enough
        803 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor IN TODAY’S modern world of football where clubs are so easily snapped up by foreign tycoons and players’ loyalties can be bought with the wave of a chequebook, one disgruntled fan has seen and heard enough. The supporters,
        803 words
      • Article, Illustration
        Lock icon Bernie Ecclestone – A Formula for every problem
        574 16  - Bernie Ecclestone A Formula for every problem chequered flag with christy simson ~The F1 season starts with the Australian Grand Prix on Mar 25. Catch ESPN’s SportsCenter every weekday at 7.30pm and 10pm for the latest F1 updates THIS Sunday would have been the start of the new Formula One
        574 words
    • GOLF
      • Article, Illustration
        Lock icon Emerging European forces
        1117 17  -  The prognosis for European golf is in the good-to-excellent range with more talent coming. By Justine Moss btnews@sph.com.sg WHEN Martin Kaymer reached the semi-fi-nals of the WGC-Ac-centure Matchplay Championship in Arizona late last month, not only did he claim the number one ranking from Englishman Lee Westwood,
        PHOTOS: AP  -  1,117 words
    • MOTORING
      • Article, Illustration
        Lock icon The politics of Formula One
        680 18  -  With Bahrain out, Australia will hold the season-opening race, and Bridgestone gives way to Pirelli as new F1 tyre supplier.By f1 watch supplier.By Samuel Ee samuelee@sph.com.sg AND so the Formula One (F1) fraternity finally found out what some Bahrainis have known along that it does
        PHOTOS: REUTERS, BLOOMBERG  -  680 words
      • Article, Illustration
        Lock icon A hotter hybrid
        648 19  -  The CT200h is Lexus’ first four-cylinder model and it comes with some trendy styling. By Samuel Ee samuelee@sph.com.sg THE Lexus CT200h shares the same basic platform and hybrid powertrain as the Toyota Prius but apart from being more premium and more powerful, there is another important difference
        648 words
      • Article, Illustration
        Lock icon BIG BRUISER
        645 20  -  Toyota’s retro-style FJ Cruiser is inspired by the FJ40 Land Cruiser model from the 60s. By Samuel Ee samuelee@sph.com.sg IT IS generally safe to say that SUVs with big engines are passé these days. Unless maybe if it’s a Toyota FJ Cruiser. This real-life Tonka truck is now
        PHOTOS BY ARTHUR LEE  -  645 words
Page thumbnail Page 4
  • Page 4 Advertisements
    • Advertisement
      Lock icon Page 4 Advertisements Column 1
      231 4 wine&dine with BTWeekend Bar on 5 Level 5, Mandarin Orchard Singapore 333 Orchard Road Z6831-6288 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 beverage menu
      231 words
    • Advertisement
      Lock icon Page 4 Advertisements Column 2
      187 4 Ristorante Bologna Level 4, Marina Mandarin Singapore 6 Raffles Boulevard Z6845-1111 Specialities from Emilia Romagna From March 14 to April 8 For a limited period, Ristorante Bologna presents specialities from Emilia Romagna, the birthplace of Bolognese. Nestled between Bologna, Tuscany and San Marino, the region of Emilia Romagna is renowned
      187 words
    • Advertisement
      Lock icon Page 4 Advertisements Column 3
      177 4 talented chefs. Available for lunch and dinner, signature dishes include Crispy Roasted Duck, Double-Boiled Shark’s Bone Cartilage Soup with Three Treasures and Stewed Ox-Tail with Garlic. A wide variety of dim sum like Chicken and Mango Tart as well as Deep-Fried Scallop Puff with Garlic is also available for lunch.
      177 words
    • Advertisement
      Lock icon Page 4 Advertisements Column 4
      215 4 10 at Claymore has a special treat for seafood lovers this March and April. The Baits of Pleasure promotion brings together a treasure trove of seafood delights such as Gratinated Chilean Diver Scallops, Poached Tiger Prawns, Crispy Soft Shell Crabs, Braised New Zealand Black Mussels and Rozer Bamboo Clams. Tastefully
      215 words
Page thumbnail Page 5
Page thumbnail Page 6/7
Page thumbnail Page 8
Page thumbnail Page 9
Page thumbnail Page 10 / 11
Page thumbnail Page 12 / 13
Page thumbnail Page 14
Page thumbnail Page 15
Page thumbnail Page 16
Page thumbnail Page 17
Page thumbnail Page 18
Page thumbnail Page 19
Page thumbnail Page 20