The Business Times, 23 February 2013
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2013-02-23
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The Business Times
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Title Section14 2013-02-23 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g FEBRUARY 23-24, 2013 S$1.00 MICA (P) 075/08/201214 words
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29 2013-02-23 1 BETTER PROSPECTS SINGAPORE’S non-oil domestic exports are expected to grow between 2% and 4% this year, after inching up 0.5% in 2012. 229 words
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Article23 2013-02-23 1 LIBOR CASE CULPABLE banks in the Libor rigging scandal face potentially huge fines from the European Union. 423 words
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44 2013-02-23 1 CRISIS REVISITED ASIA has learnt its lessons from the financial crisis of the 1990s but many may still not fully trust the IMF for its handling of that crisis, says Indonesia’s Vice-Minister for Finance Mahendra Siregar.| 544 words
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Article46 2013-02-23 1 CORPORATE NEWS WHILE NOL was unable to repeat profits seen in Q3, it has its aggressive US$500 million cost reduction drive to thank for shrinking its Q4 losses to US$98 million in 2012 from US$320 million a year ago. 1046 words
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Article, Illustration1290 2013-02-23 1 Teh Shi Ning - GDP grew faster than expected in Q4, but it could be a hard and slow journey this year By Teh Shi Ning tshining@sph.com.sg Singapore THE Singapore economy did better than initially thought in Q4 2012, ending what was a rocky yearSource: MTI - 1,290 words
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893 2013-02-23 1 Jeff Hutton - Matahari store chain likely to be sold by CVC for US$1 .5b By Jeff Hutton btworld@sph.com.sg Jakarta CVC Capital Partners’ planned US$1.5 billion share sale of its closely held Matahari Department store chain is expected to renew overseas private equity interest893 words
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Page 1 Advertisements
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Advertisement22 2013-02-23 1 the business www. usinesstimes.com. THE RAFFLES CONVERSATION SAXO BANK’S LARS CHRISTENSEN 8-9 CEOS’ HAWKER CHOICES Sizzling satay L10-12 LIVING Great journeys L2-422 words
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Advertisement6 2013-02-23 1 SMART MONEY Investing in forex 30-316 words
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TOP STORIES
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MARKETS
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Article59 2013-02-23 2 GSTI 3,288.13 (+0.53) ESTI FUTURES 3,288.00 (0.00) HSIMSCI 371.29 (-0.54) HSIMSCI FUTURES 370.50 (-1.10) STOCKS Friday Change KL COMP 1,622.08 +8.03 NIKKEI 225 11,385.94 +76.81 HANG SENG 22,782.44 -124.23 SET 1,540.13 +11.39 JAKARTA 4,651.12 +18.72 MANILA 6,665.06 -2.35 KOSPI 2,018.89 +3.67 SHENZHEN B 819.44 +0.64 MUMBAI IND 19,317.01 -8.3559 words
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Article29 2013-02-23 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.358 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.45 Source: Bloomberg29 words
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Article48 2013-02-23 2 US$ S$ US$ (S$ per US$) 1.238 (US$/S$ per 1.527 1.891 EURO(US$/S$/€) 1.321 1.636 Foreign currency per US$ S$ YEN 93.30 75.30 RM 3.101 2.504 HK$ 7.756 6.263 BAHT 29.84 24.10 RUPIAH 9,703 7,836 RENMINBI 6.235 5.035 INDIAN RUPEE 54.34 43.88 A$ 0.971 0.784 NZ$ 1.194 0.96448 words
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Article, Illustration634 2013-02-23 2 Nisha Ramchandani - Total trade rises 1.1% to $984.9 billion in 2012, below official forecasts of 3-4%, due to poor Q4 data By Nisha Ramchandani nishar@sph.com.sg Singapore THE Republic’s non-oil domestic exports (NODX) are expected to grow between 2 and 4 per cent this year, afterPHOTO: BLOOMBERG; Source: IE Singapore - 634 words
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Article53 2013-02-23 2 IN “New coin series to be issued mid-year” (BT, Feb 22), we said that the “current coins will continue to be legal tender until they are phased out”. This is incorrect. The current coins will continue to be legal tender even after they are phased out. We are sorry53 words
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Article, Illustration478 2013-02-23 4 Neil Behrmann - Official sends a warning signal that it is seeking settlements By Neil Behrmann btworld@sph.com.sg London CULPABLE banks in the Libor rigging scandal face potentially huge fines from the European Union. In a speech yesterday in Paris, EU competition commissioner Joaquín Almunia478 words
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Article, Illustration802 2013-02-23 4 Joyce Hooi - COMMENTARY Joyce Hooi joyceh@sph.com.sg Correspondent EVEN as football fans face the possibility that match outcomes are fixed (fancy that!), the broadcast rights end of things is turning out to be a fair bit of smoke and mirrors too. The Premier League is postponing broadcast rights802 words
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Article, Illustration538 2013-02-23 5 Malminderjit Singh - But he’s quick to point out that the region still works closely with the global body Reports by Malminderjit Singh msingh@sph.com.sg Singapore ASIA has learnt its lessons from the Asian financial crisis of the 1990s but many may still not fullyPHOTO: REUTERS - 538 words
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Article, Illustration742 2013-02-23 5 INDONESIA will play a key role this year as the chair of the Asia-Pacific Economic Cooperation (Apec) and two of its key ministers said it wants to improve connectivity and further liberalise trade and investment in the region. During its tenure asBLOOMBERG - 742 words
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778 2013-02-23 6 Neeta Lal - US$40m upcoming carrier likely to start operations later this year By Neeta Lal btworld@sph.com.sg New Delhi THE alliance between the US$100 billion salt-to-software Indian conglomerate Tata and Asia’s biggest low-cost carrier (LCC) AirAsia to float a new airline is being touted as a778 words
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Article, Illustration500 2013-02-23 6 Grace Leong - By Grace Leong gleong@sph.com.sg Singapore NINE Singaporean investors who had dropped their suit against Brunei’s Prince Abdul Hakeem Jefri Bolkiah as part of a settlement obtained a court order last week to force the prince to pay $890,000 plus legal costs after he allegedlyFILE PHOTO - 500 words
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Page 2 Advertisements
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Advertisement59 2013-02-23 2 CONTENTS LIVING Travel L2-4 Dining L5-9 CEOs’ Hawker Choices L10-12 Design L13 Gadgets L14 Health L15 Sports L16 Golf L17 NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 10-13 From the Desk of 14 Singapore 15-16 World 17-20 Stocks Stats 21-25 Perspective 26-27 Wealth 28-35 Smart59 words
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Page 3 Advertisements
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Advertisement21 2013-02-23 3 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.21 words
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Advertisement18 2013-02-23 3 JERRY LUM Snr Marketing Director, MBA, CES CEA Licence no: R *****6 D HP: 8288 0098 View: jerrylum.myweb.sg18 words
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Page 6 Advertisements
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Advertisement17 2013-02-23 6 MARCH ISSUE OUT NOW! YOUR GUIDE TO GETTING BUFFED FOR THE BEACH MENSHEALTH.COM.SG T00% USEFUL WEBSITE! sPHmagazines17 words
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WEEK IN REVIEW
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THIS WEEK Feb 18-22, 2012
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73 2013-02-23 7 THE government needs to think out of the box and go beyond existing efforts if Singapore is really to climb up the productivity ladder, said panellists at a pre-Budget roundtable organised by The Business Times and KPMG. This is especially critical73 words
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81 2013-02-23 7 AS small and medium enterprises struggle to cope with the higher costs of doing business in Singapore today, president of the Association of Small and Medium Enterprises Chan Chong Beng called for an extension as well as a higher ceiling for81 words
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43 2013-02-23 7 THE yen resumed its sharp downward slide on Monday after the weekend meeting of Group of 20 finance ministers backed away from criticising Japan publicly for the aggressive monetary-easing actions that have helped propel the slide.43 words
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39 2013-02-23 7 THE three big local banks are issuing Chinese currency bonds even before Singapore’s renminbi clearing bank gets going. They don’t want to miss out on the currency’s going-global party.39 words
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47 2013-02-23 7 SINGAPORE’S non-oil domestic exports inched up 0.5 per cent year-on-year in January, missing forecasts and posting weaker growth compared to other markets in the region. A Bloomberg poll of 11 estimates showed a median projection of a 3 per cent increase.47 words
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73 2013-02-23 7 A NEW high-speed rail link between Kuala Lumpur and Singapore is in the works, with passengers needing just 90 minutes to get from one city to the other once the system is up and running by 2020. The prime ministers of Singapore and73 words
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62 2013-02-23 7 SIGNS of disagreement between Japanese Prime Minister Shinzo Abe and key members of his Cabinet over the choice of a new governor of the Bank of Japan pushed the yen up and Tokyo stock prices down as markets displayed anxiety62 words
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65 2013-02-23 7 MALAYSIA’S gross domestic product, discounted for inflation growth in the fourth quarter of 2012, clocked in at an unexpectedly high 6.4 per cent growth making the economy expand 5.6 per cent as a whole last year, compared to 5.1 per cent in 2011, the65 words
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Article, Illustration24 2013-02-23 7 The prime ministers of Singapore and Malaysia described the high-speed rail link as a ‘game changer’ for both sides.PHOTO: AP PHOTO: APPHOTO: AP - 24 words
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50 2013-02-23 7 THE Year of the Snake could bring with it more initial public offerings (IPOs) into a buoyant equity market, investment bankers say. One mega IPO has already been unveiled Mapletree Greater China Commercial Trust expects to raise $1.59-1.68 billion on March 7.50 words
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85 2013-02-23 7 PROPERTY funds, such as Reits, buying industrial buildings from sellers on JTC-leased sites will have to re-do their sums. From the beginning of this year, they have to fork out a land premium upfront to JTC for the remaining part of the lease85 words
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55 2013-02-23 7 TIGER Airways is contemplating shutting down its loss-making Australian operations if it does not get regulatory approval to sell its controlling stake to Virgin Australia. BT understands that the budget carrier is studying such a contingency, following recent ambivalence towards the deal55 words
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Article83 2013-02-23 7 NEXT WEEK Feb 25-March 1 US DATA Feb 26 Jan new home sales Feb consumer confidence Feb 27 Jan durable goods orders Jan pending home sales Feb 28 Q4 GDP 2nd estimate March 1 Jan personal income, spending Feb ISM Index Jan construction spending SINGAPORE DATA Feb 25 Jan consumer83 words
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Page 7 Miscellaneous
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Miscellaneous315 2013-02-23 7 CRYPTIC CROSSWORD Across 1 The weariness of military duty (7) 5 Country poor actor bleats about (7) 9 Bath’s sex appeal girl (5) 10 Priceless old weapon employed by no one in particular (9) 11 Actively working? (2,8) 12 Trip to see Eiffel’s structure in Paris? (4) 14 Idle? Definitely315 words
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Miscellaneous14 2013-02-23 7 SATURDAY with Ludwig ‘He’s preparing to be the first Singaporean in space in 201514 words
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THE RAFFLES CONVERSATION
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Article, Illustration1825 2013-02-23 8 / 9 Kenneth Lim - Free the markets, and the rest will follow, Lars Christensen believes. By Kenneth Lim By Kenneth Lim kenlim@sph.com.sg WHO doesn’t like to have fun? Lars Christensen does. “Of course you should also have some fun,” says the co-founder of investment bank Saxo Bank. “And for me, artARTHUR LEE - 1,825 words
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COMPANY NEWS
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Article, Illustration718 2013-02-23 10 Lynn Kan - Group working on improving customer mix and growing logistics business, says CEO Ng Yat Chung By Lynn Kan lynnkan@sph.com.sg Singapore WHILE Neptune Orient Lines (NOL) was unable to repeat profits seen in the third quarter, it has its aggressive US$500 million cost reduction drivePHOTO: BLOOMBERG - 718 words
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326 2013-02-23 10 Grace Leong - By Grace Leong gleong@sph.com.sg Singapore A BITTER legal spat between Sakae Holdings Ltd and its non-executive director, Andy Ong Siew Kwee, has spilled over to his investor relations firm. Lawyers for Sakae yesterday issued a letter to Financial PR Pte Ltd demanding326 words
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305 2013-02-23 10 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg Singapore BAKER Technology, a maker of specialised marine offshore equipment and services for the oil gas industry, is recommending a first and final tax-exempt dividend of 1.5 cents per share, and a special tax-exempt dividend305 words
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Article, Illustration676 2013-02-23 11 Andrea Soh - It announces joint venture with Noble Group to develop palm oil plantations in Papua, Indonesia By Andrea Soh sandrea@sph.com.sg Singapore WILMAR International shares dropped a notch yesterday, falling 1.4 per cent to S$3.63, on news of lower earnings for the fourth quarter and full yearPHOTO: BLOOMBERG - 676 words
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466 2013-02-23 11 Ong Chor Hao - By Ong Chor Hao ongch@sph.com.sg Singapore KEPPEL Reit has raised gross proceeds of $53.2 million via a placement of 40 million new units. The net proceeds of about $52.3 million will be used to repay outstanding loans and for general corporate466 words
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296 2013-02-23 11 Kenneth Lim - By Kenneth Lim kenlim@sph.com.sg Singapore ELECTRONICS manufacturer Huan Hsin Holdings fell deeper into the red in 2012 amid stiff competition and weak demand for personal computers (PCs). Huan Hsin’s net loss almost tripled from $34.3 million to $97.7 million, or 24.44 cents296 words
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Article, Illustration651 2013-02-23 12 Lynn Kan - Four vessel orders cancelled in Q4; it finds takers for eight vessels cancelled in Q2 By Lynn Kan lynnkan@sph.com.sg Singapore FEWER ship deliveries from Yangzijiang Shipbuilding Holdings’ yards led to a 22 per cent year-on-year decline in its fourth-quarter net profit to 807.7651 words
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Business briefing
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96 2013-02-23 12 RAFFLES Medical Group Ltd announced yesterday that it has signed a non-binding letter of intent with China Merchants Shekou Industrial Zone Co to develop an integrated international hospital in Shenzhen’s Shekou. China Merchants Shekou Industrial Zone is a wholly-owned subsidiary of China96 words
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49 2013-02-23 12 OTTO Marine Ltd’s loss for the full year ended December 2012 widened to US$73.69 million from the previous year’s US$52.22 million. Revenue for the full year fell 9.8 per cent to US$374.33 million. Loss per share was at 2.81 US cents.49 words
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78 2013-02-23 12 UNITED Overseas Insurance said its net profit for the fiscal year ended Dec 31, 2012, rose 44.8 per cent year-on-year to $29.17 million. Gross premium written increased 8.3 per cent to $104.42 million from $96.45 million a year earlier. A final dividend78 words
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54 2013-02-23 12 FRASER and Neave said yesterday that Philip Eng, 66, has been appointed as an independent and a non-executive director. It cited the former group MD of Jardine Cycle Carriage’s wide experience in property-related businesses. Thai Beverage’s Sithichai Chaikriangkrai, 58, was appointed54 words
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Article, Illustration540 2013-02-23 13 Ven Sreenivasan - STOCKS| Ven Sreenivasan ven@sph.com.sg Senior Correspondent AFTER a two-month run-up, are cracks beginning to show in the market’s veneer of bullish confidence? Two straight days of bearishness on Wall Street, coupled with the overhanging fear of a sequester in Washington if lawmakers can’t540 words
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295 2013-02-23 13 Reuters London HOTELIER Millennium Copthorne said strong competition had pushed revenue per room down in the first six weeks of 2013, as it posted an expected fall in annual profit. M&C, which operates over 100 hotels worldwide, yesterday said underlying pretax profitReuters - 295 words
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Article106 2013-02-23 13 Stock name Close Change CapMallsAsia 2.090 -0.010 CapitaLand 3.910 +0.010 CapitaMall 2.160 -0.020 CityDev 11.23 -0.030 ComfortDelGro 1.925 -0.005 DBS Grp 15.19 +0.040 F&N 9.440 GLP 2.700 Genting SP 1.555 +0.055 Golden Agri 0.650 HK Land 7.760 +0.020 IHH Healthcare 1.335 JMH 63.50 +0.900 JSH 38.09 -0.370 Jardine106 words
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253 2013-02-23 13 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg Singapore CAPITALAND is buying a further 4.39 per cent interest in Raffles City China Fund Ltd for US$69.7 million. The consideration was arrived at on a willing-buyer and willing-seller basis, and took into account the net asset value253 words
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Article149 2013-02-23 13 VOL CLOSE Stratech 579,532 3 0.3 1 1 .1 Europtron 248,221 7 7 1 .7 28.3 IPCO Int l 210,693 3 3 0.0 0.0 Healthway 143,093 10 5 0.6 6.1 YHM 139,181 4 2 0.1 2.4 Eucon 126,484 5 1 .6 47.1 Magnus 100,194 7 1 0.3149 words
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Article57 2013-02-23 13 BY CENTS CLOSE UP GLD 10US$ ***** 205.5 1.1 JMH 6350 111.4 1.4 DBXT AUDCS 5AU$ ***** 49.8 0.2 DBXT MSINDO 10us$ 1629 24.8 1.2 Jardine C&C 5180 21.0 0.4 Great Eastern 1800 20.0 1.1 UOB 1964 18.0 0.9 DBXT MSAsExJp 10US$ 3378 16.1 0.4 UOB.ES.1302 1961 12.057 words
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Article62 2013-02-23 13 BY CENTS CLOSEDOWN DBXT iBoxxUSTr 5US$ ***** -396.2 -1.5 DBXT FTChina25 10US$ 2940 -58.2 -1.6 DBXT MSKorea 10US$ 6181 -48.3 -0.6 JSH 3809 -45.8 -1.0 DBXT FTVietnam 10US$ 2543 -39.6 -1.2 DBXT MSCHINA 10US$ 1227 -26.0 -1.7 SembCorp Ind 524 -22.0 -4.0 SembMar 451 -22.0 -4.7 DBXT S&P62 words
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Page 12 Advertisements
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Advertisement133 2013-02-23 12 THE BUSINESS TIMES SATURDAY SPECIAL Millenia Walk Specials Buy one Porta Bag Handbag Organiser (up to $29.95) and get one free OR buy two Multimedia Stackers ($29.95) and get one free! VENUE Howards Storage World, #02-13 Millenia Walk Tel: 6338 8550, Website: www.hsw.com.sg Parfumerie Fragonard Shower Gel The first 100133 words
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FROM THE DESK OF
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Article, Illustration937 2013-02-23 14 Daniel McConaghy - Personalised, automated, two-way multichannel communication can improve collection rates while minimising embarrassment and maximising customer satisfaction FROM THE DESK OF Daniel McConaghy President, FICO in Asia Pacific WITH China alone having more mobile connections than America and Europe combined, and India rapidly catching up, Asia is becoming937 words
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SINGAPORE NEWS
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631 2013-02-23 15 Malminderjit Singh - World Bank, IFC and Multilateral Investment Guarantee Agency set up offices here By Malminderjit Singh msingh@sph.com.sg SINGAPORE firms wanting to venture overseas can now harness the World Bank Group’s full suite of services to assist them in their internationalisation631 words
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Article, Illustration402 2013-02-23 15 Ma Xiangyu - By Ma Xiangyu xiangyu@sph.com.sg THE private education institute wholly owned by the Singapore Manufacturing Federation (SMF) has launched an internship programme in partnership with 13 businesses, mostly small and me-dium-sized enterprises. The move by the SMF Institute of Higher Learning, which runs diploma, degree and masters402 words
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339 2013-02-23 15 Grace Ng - By Grace Ng ngrace@sph.com.sg BIZLINK Centre and the philanthropic arm of Temasek Holdings have jointly launched a programme that will help disadvantaged youth make the transition into the workforce. The Temasek Cares-Transi-tion to Work Programme provides holistic employment support to graduating students of Northlight339 words
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641 2013-02-23 16 Ronnie Lim - First coal/biomass-fired cogen plant on Jurong Island supplying utilities to nearby factories By Ronnie Lim ronnie@sph.com.sg SINGAPORE’S first coal/biomassfired cogeneration plant, the $1 billion, first-phase Tuas Mul-ti-Utilities Complex (TMUC) on Jurong Island, has started supplying competitively priced utilities including cheaper steam to a whole641 words
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Article, Illustration216 2013-02-23 16 Arthur Lee - By Arthur Lee arthur@sph.com.sg THANKS were the order of the day as banks here treated their clients to Chinese New Year parties over the past two weeks. About 2,000 SME customers of UOB enjoyed a 10-course, oriental-themed dinner at the Pan Pacific Hotel onPHOTO: ARTHUR LEE - 216 words
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373 2013-02-23 16 Maria Mala Yogalingam - 71% of respondents identify overall talent shortage in landscape By Maria Mala Yogalingam ymaya@sph.com.sg HUMAN capital issues are at the top of most chief executives’ agendas in Asia, according to a research report by Deloitte Consulting and Human Capital Leadership373 words
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WORLD
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517 2013-02-23 17 Joblessness will jump to 12.2%, up from previous estimate of 1 1 .8% and 11.4% last year, it says Bloomberg Brussels THE euro-area economy will shrink in back-to-back years for the first time, driving unemployment higher as governments, consumers and companiesBloomberg - 517 words
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Article, Illustration324 2013-02-23 17 Kansas City, Missouri Reuters A MAJOR winter storm headed north-east into the US Great Lakes yesterday and threatened New England after blanketing states from Minnesota to Ohio with blinding snow, sleet and freezing rain. The storm dumped more than 30 cm of snow in KansasReuters; PHOTO: REUTERS - 324 words
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Briefing
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88 2013-02-23 17 AFP San Francisco Google unveiled a touchscreen notebook computer on Thursday designed for high-end users, throwing down the gauntlet to Apple and its MacBooks. Google said its Chromebook Pixel computers blending tablet and laptop technology, boasting heavyweight Intel chips and screens tailored forAFP - 88 words
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95 2013-02-23 17 Re uters Jakarta Oil and gas contractors in Indonesia will have to stop exports if they do not follow central bank rules to channel export revenues through local banks, a senior official at oil and gas regulator SKKMigas said yesterday. “If (oil andReuters - 95 words
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84 2013-02-23 17 AFP Frankfurt The European Central Bank yesterday said that 356 eurozone banks will repay early 61.1 billion euros (S$99.9 billion) of a second batch of ul-tra-cheap three-year loans from last year under emergency liquidity measures. Under the ECB’s special long-term refinancing operationsAFP - 84 words
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110 2013-02-23 17 Reuters Hanoi Vietnam has approved a broad plan to boost its economy, focusing on restructuring public investment, banks and state-owned enterprises while controlling inflation and maintaining growth. The country’s economic growth fell to a 13-year low of 5.03 per cent last year asReuters - 110 words
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Article, Illustration655 2013-02-23 18 Anthony Rowley - Abe’s meeting with President Obama may also have a bearing on the selection By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE government ministers continue to keep financial markets guessing as to whom they will nominate next week as the new governor of the BankPHOTO: REUTERS - 655 words
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484 2013-02-23 18 Role played by Fed’s monetary policy not a settled issue, he says Bloomberg New York FEDERAL Reserve chairman Ben Bernanke minimised concerns that the central bank’s easy monetary policy has spawned economically-risky asset bubbles in comments at a meeting with dealers and investors this month, accordingBloomberg - 484 words
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Article, Illustration577 2013-02-23 19 Firm will now seek to separate itself as soon as possible from Bakrie family Bloomberg London BUMI plc said that it will seek to separate itself as soon as possible from Indonesia’s Bakrie family after shareholders rejected a bid by co-founder Nathaniel Rothschild to oustBloomberg; PHOTOS: BLOOMBERG, REUTERS - 577 words
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557 2013-02-23 19 January volumes soar on euro and yen themes, equity trades Reuters New York AFTER several lacklustre years, the US$5 trillion foreign exchange market has bolted back to life with institutional investors leading the charge and banks standing to gain from the activity. Currency volumesReuters - 557 words
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774 2013-02-23 20 Uncertainty over the timing and the outcome of the general elections has sent debt and equity investors to the sidelines Reuters Kuala Lumpur MALAYSIA’S government has until the end of April to call a general election, but the country’s capital markets are already seizingReuters - 774 words
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Page 17 Advertisements
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Advertisement143 2013-02-23 17 CEPHEI CAPITAL INVESTMENT ADVISORY PTE. LTD. (Co. Reg. No.: *****7035G) (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING Notice is hereby given pursuant to Section 308 of the Companies Act Cap 50 that a Final Meeting of the Members of the Company will be held at 13A Teo Hong Road143 words
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Page 18 Advertisements
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Advertisement56 2013-02-23 18 Global Marine Cable Systems has a position open for a Proposals Engineer Thomas Sabo has a vacancy for the position of Retail Manager Home-Fix DIY is recruiting a Human Resource Executive Pratt Whitney is hiring a Quality Assurance Engineer ICIS is looking for a Sales Executive Check out more than56 words
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Page 20 Advertisements
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Advertisement38 2013-02-23 20 s JM(-D Very 38 °°m su^rpTer 87 $6.XM. SEM/-D@ fir r V,ew 3-4pm iif T,ma h PRICED TO SELL Check this and many other properties in CATS Classified in The Straits Times now! WATS BUY IT-SELL IT-FIND IT38 words
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Advertisement23 2013-02-23 20 www.omy.sg o Kim Jong Kook's press conference Showcase reports 3B .t«£ ■Tf -K 36 36* 36 3^ 36 36 36 V? sa showbiz.omy.sg23 words
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Advertisement50 2013-02-23 20 L3 M--7 J FIND THE ONES THAT FIT! Recruit the right people through CATS Recruit. Call 1800 289 8822 or er recruit@sph.com.sg to advertise. L 'S r "3 v w. eople l 'it. I r —j* email I v J V l i£"lT wat3 _nj RECRUIT X J L -•O50 words
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Article8179 2013-02-23 21 Transaction date: Feb 22 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 12.8 -0.7 30 12.8 12.8 12.8 66.8 0.4 3.1 61.3 5.8 3 A-Sonic 4.6 4.6 4.7 2.8 32.9 AAT8,179 words
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Article1830 2013-02-23 24 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 $mil 21.5 15 t 800 Super 19.6 +0.2 21 19.6 19.3 19.4 19.6 3.3 5.1 5.9 35 4.3 2.8 t AA Grp 4.3 3.7 4.3 4.11,830 words
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Article186 2013-02-23 24 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 8 5 0 0 0 1 8 5 Manufacturing 73 42 36 10 7 5 83 49 41 Commerce 27 20 20 7 3 1 34 23 21 Tpt/Stor/Comms 15 18 8186 words
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Article121 2013-02-23 24 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 51,290 51,290 132,571 132,571 Manufacturing 934,984 243,335 1,178,319 388,332 6,708 395,041 Commerce 299,854 91,692 391,546 88,025 8,412 96,437 Tpt/Stor/Comms 114,866 17,015 131,881 161,941 6,097 168,039 Finance 119,596 1,227 120,823 172,553 570 173,124 Construction 334,168 140,260121 words
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Article788 2013-02-23 24 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Feb 18 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) China Sports 19-Feb-13 Orkla ASA Sell 775 0.07 ***** 5.02 ***** 4.94 Jasper Investments 19-Feb-13 Tan Yeelong788 words
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MARKETS
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Article79 2013-02-23 25 Feb 21 COCOA (£/tonne) Close Prev High/Low Mar 13 1419 1404 1424/1399 May 13 1428 1413 1433/1409 Jul 13 1438 1425 1444/1420 Sep 13 1447 1434 1451/1430 COFFEE(US$/tonne) Close Prev High/Low Mar 13 2030 2021 2034/2003 May 13 2069 2063 2074/2043 Jul 13 2077 2073 2083/2053 Sep 13 208379 words
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Article68 2013-02-23 25 Feb 22 GOLD(US$/oz) Feb 22 Feb 21 Hong Kong 1591.00 1578.00 Feb 21 Feb 20 London 1580.49 1581.01 1581.71 1581.78 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 36.08 35.44 Source: UOB PLATINUM/ Lon (US$/oz) Feb 21 Close Previous PM Fix 1607.00 1659.00 AM Fix 1608.00 1679.00 Source:68 words
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Article118 2013-02-23 25 Feb 22 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.304 1.242 Can dollar 1.245 1.186 Euro 1.672 1.593 Sterling pound 1.926 1.852 NZ dollar 1.068 1.008 US dollar 1.264 1.204 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article57 2013-02-23 25 Feb 22 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 13 2481.0 2478.0 2495.0 2475.0 592 6330 Apr 13 2508.0 2509.0 2529.0 2505.0 3208 ***** May 13 2532.0 2534.0 2555.0 2527.0 ***** ***** Jun 13 2547.0 2552.057 words
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Article92 2013-02-23 25 Feb 22 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 23-May-13 0.26 6-Month BS*****S 22-Aug-13 0.27 1-Year BY*****X 01-Nov-13 0.27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 100.19 100.25 100.17 5-Year N*****0Z 2.37592 words
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Article154 2013-02-23 25 Feb 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2757 1.2760 1.0303 1.0304 Canadian dollar 1.2162 1.2171 0.9828 0.9822 Euro 1.6354 1.6359 1.3208 1.3210 NZ dollar 1.0365 1.0373 0.8371 0.8376 Sterling pound 1.8910 1.8918 1.5272 1.5276154 words
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Article104 2013-02-23 25 Feb 21 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 13 1487.75 1482.75 1494.50 1470.50 May 13 1470.50 1468.50 1476.00 1454.00 Jul 13 1454.50 1456.25 1460.75 1439.75 Aug 13 1414.00 1417.75 1418.50 1402.00 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low Mar 13 51.31 52.07 51.97104 words
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Article68 2013-02-23 25 Feb 21 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 114.30 -1.79 WTI (Near Mth) 92.72 -1.78 Dubai (1-Mth F) 110.11 -2.36 Tapis blend 120.59 -2.62 Minas 117.09 -2.62 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 109.00 -2.83 Jet Kerosene 132.77 -2.60 US$/barrel OpecOil Basket Price 111.2768 words
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Article69 2013-02-23 25 Feb 21 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2034.25 2060.75 3 months 2076.00 2103.00 Copper, Grade A (US$/tonne) Cash 7832.25 7925.50 3 months 7861.00 7960.00 Lead (US$/tonne) Cash 2307.75 2328.00 3 months 2326.00 2350.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.0069 words
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376 2013-02-23 25 In local curr In S$ In US$ dy yr dy yr dy yr Feb 21 Index Change Change Change Change Change Change World Preliminary 989.5 -1.0 5.5 -1.0 5.6 -1.2 4.0 EAFE Preliminary 820.8 -1.7 6.0 -1.9 4.4 -2.1 2.9 Europe Preliminary 1194.8 -1.7 4.2376 words
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PERSPECTIVE
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Article, Illustration1116 2013-02-23 26 / 27 Jusuf Wanandi, Tan Khee Giap - Focusing on education, infrastructure and removing barriers to SME participation will help bring about Apec’s goals of equitable and inclusive growth. By Jusuf Wanandi and Tan Khee Giap By Jusuf Wanandi Tan Khee Giap Almost twenty years ago, the leaders of the Asia-Pa-cific1,116 words
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Article, Illustration856 2013-02-23 26 / 27 Robert Samuelson - Robert Samuelson The Washington Post Writers Group THE “legacy thing” may be harder than Barack Obama imagines. Beginning his second term, Mr Obama has a focused, though unstated, agenda: to achieve presidential greatness in the eyes of historians and Americans. InThe Washington Post Writers Group - 856 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1807 2013-02-23 28 / 29 Shane Oliver - Some economic factors suggest that it’s different this time compared to 1994. Still, investors might want to seek higher-yield alternatives WEALTH INSIGHTS Shane Oliver AMP Capital Investors ~The writer is head of investment strategy and chief economist, AMP Capital During the last fewSource: Global Financial Data, Bloomberg, AMP Capital - 1,807 words
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BROKERS' TAKE
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Article353 2013-02-23 28 / 29 Buy DBS Group Research Feb 22 Close: $1.555 EBITDA for Q4 2012 came in at $369 million (-6 per cent y-o-y, +22 per cent q-o-q), bringing full-year Ebitda to $1,362 million (-17 per cent y-o-y) constituting 98 per cent of both our and consensus estimates. Similar to MBS,353 words
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Article463 2013-02-23 28 / 29 Cai Haoxiang - Compiled by Cai Haoxiang Sell AmFraser Research Feb 22 GENTING Singapore PLC’s (GenS) FY12 results were below consensus expectations and our forecasts. GenS’s Ebitda declined 17.4 per cent y-o-y to $1.36 billion in FY12 on the back of an 8.4 per cent fall in turnover and higher operating463 words
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Article, Illustration1216 2013-02-23 32 Teh Hooi Ling - Research suggests that family businesses with only the founder that is, without family do significantly better SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent ~The writer is a CFA charterholder OVER coffee this week, a friend shared this study with me. He saidPHOTO: REUTERS - 1,216 words
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Article, Illustration1209 2013-02-23 33 Jeff Sommer - Effervescence belies the ominous developments in politics and economy. By Jeff Sommer NYT New York THE economy may be lurching into another crisis, but you wouldn’t know it from the stock market, where an epic party is under way. Since March 2009, the Standard Poor’sNYT; PHOTO: AP - 1,209 words
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SMART MONEY
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2489 2013-02-23 30 / 31 Genevieve Cua - Investors should be aware of the different risk and return profiles of the various types of foreign currency investments. By Genevieve Cua By Genevieve Cua gen@sph.com.sg FOREIGN exchange is the largest, most liquid market with over US$4 trillion in daily traded volume,2,489 words
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Article, Illustration770 2013-02-23 30 / 31 Genevieve Cua - By Genevieve Cua ON any weekend newspaper you will see advertisements for forex trading seminars, usually fronted by a trainer who boasts of his or her own success. If you are considering spending some serious time trading currencies, you should certainly pick up770 words
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WEALTH REAL ESTATE
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334 2013-02-23 34 The industrial property manager says focus will be on Asia as it reports 1 6% rise in H1 operating profit Bloomberg Sydney GOODMAN Group, the world’s sec-ond-biggest industrial property manager by market value, plans to spend A$500 million (S$635.3 million) on acquisitions to boostBloomberg - 334 words
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Article731 2013-02-23 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JAN 23 AND JAN 29, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 2 NON-LANDED Spottiswoode Suites Apt 23/01/2013 FH 581 1412 2429 Spottiswoode Suites Apt 23/01/2013 FH 538 1128731 words
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Article, Illustration601 2013-02-23 35 First gain in 10 months spark talk of more govt cooling steps but statistics bureau doesn’t see sustained rebound Reuters Beijing CHINA’S new home prices rose an average of 0.8 per cent in January from a year earlier, snapping 10 months ofReuters; PHOTO: REUTERS - 601 words
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Article, Illustration527 2013-02-23 35 Bloomberg Hong Kong AS Hong Kong’s government scrambles for measures to rein in rising property prices, Asia’s richest man has turned to selling hotel rooms in the city, a move that may spark further regulation. Li Ka-shing’s Cheung Kong Holdings Ltd thisBloomberg; PHOTO: REUTERS - 527 words
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Page 36 Advertisements
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Advertisement147 2013-02-23 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. > -i-' IN 1986, AUDEMARS PIQUET BECAME THE FIRST WATCHMAKER TO FEATURE A TOURBILLON IN AN AUTOMATIC WRIST WATCH. TODAY THE TRADITION TOURBILLON REPETITION MINUTE IS OUR LATEST EXPRESSION OF THIS PIONEERING SPIRIT. THE TOURBILLON COUNTERACTS THE EFFECT OF GRAVITY ON147 words
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Advertisement49 2013-02-23 1 LivingBTTHE BUSINESS TIMES WEEKEND FEBRUARY 23 -24 2013 DESTINATION DINING Tokyo revisited L6-7 GREAT JOURNEYS Baby boomers are out exploring the world L2-4 CEOs' HAWKER CHOICES The satay club L10-12 GADGETS Phones worth the wait L14 DESIGN Tadao Ando L13 DINING A hawker story L8-9 MOTORING G Star L1949 words
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BT Living
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TRAVEL
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Article, Illustration1016 2013-02-23 2 / 3 Tay Suan Chiang - The silver demographic grows more adventurous in travel, with time and money allowing baby boomers to turn to new and exotic experiences. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg THEY are aged between 49 and 67, with time to spare and plenty of cash,1,016 words
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Article, Illustration864 2013-02-23 4 Tay Suan Chiang - Not sure where to start? Here are some suggested itineraries. By Tay Suan Chiang African safari There are plenty of wildlife shows on TV, but those who have gone on a safari say there is nothing like seeing the big cats in real life. If you are lucky,864 words
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DINING
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Article, Illustration621 2013-02-23 5 Debbie Yong - Fashion bible Vogue to open Singapore lounge and restaurant in June. By Debbie Yong By Debbie Yong debyong@sph.com.sg YOU’VE read the magazine, now you get to be in it or in its namesake restaurant, at least. Tentatively set to open on June 6 is Vogue Club Singapore,PHOTO: FALKCON - 621 words
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DESTINATION DINING
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Article, Illustration1650 2013-02-23 6 / 7 Jaime Ee - Jaime Ee revisits Michelin star dining in Tokyo, where the perfect meal is often one that reflects the personality of the chef Jaime Ee jaime@sph.com.sg SO you’ve been dreaming of Jiro’s Sushi every since you watched that documentary depicting the art of putting fish on rice in1,650 words
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DINING
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Article, Illustration1213 2013-02-23 8 / 9 Debbie Yong - Debbie Yong examines the evolution of hawker culture in Singapore, and asks where all this is headed Debbie Yong EVER since the government announced last year that it would build 10 new hawker centres over the next decade the first new ones since 1985 opinion has1,213 words
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Article, Illustration782 2013-02-23 8 / 9 Debbie Yong - Debbie Yong speaks to Kampung@Simpang co-founder Deirdre Murugasu about her vision for Singapore’s first privately run hawker centre Debbie Yong debyong@sph.com.sg Kampung@Simpang Bedok 348 Bedok Road, Bedok Market Place Hours: 7am to 11pm daily IF we had it our way, all hawkers would be jollyFILE PHOTO - 782 words
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CEOS' HAWKER CHOICES 2013
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Article, Illustration2756 2013-02-23 10 / 11 Tay Suan Chiang; Natalie Koh; Sara Yap; Dylan Tan - Grilling satay takes a combination of art and timing to make it perfect but getting the sticks of barbecued meat right is only half the job. The sauce is equally important and hawkers all around Singapore have their own secret recipes. Here are the top five satay stallsALL PHOTOS BY YEN MENG JIIN; PHOTO: YEN MENG JIIN - 2,756 words
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Article, Illustration539 2013-02-23 12 Sara Yap - By Sara Yap Alvin Soe CEO, Supernova Media FILM producer Alvin Soe will try almost anything once even snake meat but don’t ask him to eat vegetables. “I’m mentally allergic to vegetables,” jokes Mr Soe, 23, CEO of local film company Supernova Media. “I’llPHOTO: SARA YAP - 539 words
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DESIGN
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Article, Illustration950 2013-02-23 13 Tay Suan Chiang - Tadao Ando hopes to inspire people with his architecture. By Tay Suan By Tay Suan Chiang taysc@sph.com.sg HE is revered as the world’s greatest living architect, but Japanese architect Tadao Ando does not let that title get to him. In fact, he brushes it off. e breaksYEN MENG JIIN - 950 words
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GADGETS
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Article, Illustration662 2013-02-23 14 Christopher Lim - Some brands have already announced their latest phones ahead of the Mobile World Congress (Feb 25-28) in Barcelona. Christopher Lim picks those which bundle practical, cutting-edge tech treats Christopher Lim limchris@sph.com.sg BlackBerry Z10 $918 without contract This isn’t your dad’s BlackBerry. It’s not even your own662 words
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HEALTH
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Article, Illustration890 2013-02-23 15 Michael Lim - This question is often asked by heart patients on blood-thinning drugs, and it is a difficult one to answer. By Michael Lim By Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, HeartFILE PHOTO - 890 words
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SPORTS
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Article, Illustration603 2013-02-23 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent BY the time Manchester City gets its game against Chelsea going on Sunday, the Barclays Premier League (BPL) champions could be staring at a seemingly insurmountable 15-point gap between themselves and current leaders Manchester United. Failure toPHOTO: AP - 603 words
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Article, Illustration642 2013-02-23 16 christy simson - kick off with christy simson ~Christy Simson is Fox Sports Central’s senior news correspondent. Catch the show live every weekday at 7.30pm on Fox Sports IN the wake of the Lance Armstrong saga, the revelations emerging from the Operation Puerto trial in Spain and thePHOTO: REUTERS - 642 words
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GOLF
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Article, Illustration1133 2013-02-23 17 Justine Moss - It will be a first for most at Sentosa Golf Club, host of HSBC Women’s Champions 2013. By Justine Moss btnews@sph.com.sg ANEW venue welcomes the field of 63 women who tee off next week in the sixth instalment of the HSBC Women’s Champions (HSBC WC). The1,133 words
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MOTORING
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Article, Illustration611 2013-02-23 18 Samuel Ee - The makeover of the BMW 7 Series has made the entry-level 730LI a smoother ride. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE BMW 730Li is now old enough to require a facelift but it still has something no other BMW model available here can boast of611 words
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Article, Illustration641 2013-02-23 19 Samuel Ee - The updated Mercedes-Benz G-Class continues to ooze machismo. By Samuel Ee samuelee@sph.com.sg VERY few iconic cars remain in production today and one of the members of this special club is the Mercedes-Benz G-Class. This boxy truck with the three-pointed star began life 40 years ago as a military641 words
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Article, Illustration697 2013-02-23 20 CY Chew - drives the made-in-Malaysia Peugeot 408 which offers decent power and good fuel economy CY Chew btnews@sph.com.sg THE Peugeot 408 was first launched in China in 2010 and, despite the name, is not actually a replacement for the 407 (that’s the 508) but essentially aPHOTOS: CY CHEW - 697 words
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Advertisement111 2013-02-23 2 / 3 Next page: Great journeys >> THE SOUND VISION SPECIALIST AV ONE 2012 COLLECTIONS Zikmu designed by Philippe Starck Now: $2,688 Black,White, Red Available Custom AV Room Feature Wall Design AV ONE TOTAL AUDIO VISUALISM" A Sony, Infocus, Panasonic Full HD 3D Projector Made in Japan. From $2,699 $35,000 I Morel111 words
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Advertisement833 2013-02-23 5 wine&dine with BTWeekend AquaMarine Level 4, Marina Mandarin Singapore 6 Raffles Boulevard Z6845 1111 Sawasdee Thai March 1 to 31, 2013 Savour your favourite Thai dishes at AquaMarine as we bring Guest Chef Aek Charttrakul and his team from Bangkok’s Suan Dusit International Culinary School, only for the month of833 words
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Advertisement67 2013-02-23 10 / 11 VALUABLE PROPERTIES INVALUABLE SERVICE Knight Frank Knight Frank Valuation Team offers appraisal services on properties for mortgage, sale or purchase, public listing, financial reporting, insurance, rental reviews, litigation and statutory valuations (including for property tax and compulsory acquisition). Call Knight Frank Advisory Services at 6222 1333 or visit www.knightfrank.com.sg for67 words
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Advertisement37 2013-02-23 14 HOME Ni E S Moving? Let the experts sort it out for you. To find out more, turn to CLASS 115 Et 239 in CATS Classified in The Straits Times now. WAT3 BUY IT-SELL IT* FIND IT37 words
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