The Business Times, 12 August 2015
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2015-08-12
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The Business Times
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Title Section31 2015-08-12 1 THE BUSINESS TIMES S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 039/08/2015 Wednesday, August 12,201531 words
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Article28 2015-08-12 1 Tuesday Change STI 3,153.06 -43.60 KL COMP 1,636.71 -17.66 NIKKEI 225 20,720.75 -87.94 HANG SENG 24,498.21 -22.91 SHENZHEN B 1,242.49 -4.01 DOW (11:45 am EDT) 17,382.57 -232.6028 words
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Article, Illustration711 2015-08-12 1 Melissa Tan - Official GDP forecast for 2015 is pared to 2-2.5% from 2-4% By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore As the government pared its economic growth forecast for 2015 on Tuesday after dismal second-quarter numbers, a key question being asked is whether711 words
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Article, Illustration1110 2015-08-12 1 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo CHINA’S announcement on Tuesday that it is changing the basis of valuing the yuan has resulted in a near 2 per cent drop in the currency against the dollar and triggered market alarm that the surprise move couldSource: Bloomberg; PHOTO: BLOOMBERG - 1,110 words
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DAILY DIGEST
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33 2015-08-12 1 link in the first half of this year after posting a second straight quarter of contraction that came in even worse than initially feared. TOP STORIES 433 words
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26 2015-08-12 1 forming a new parent company dubbed Alphabet to include Internet search and a handful of independent companies. TOP STORIES 626 words
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31 2015-08-12 1 positions will be a buffer against the higher number of soured loans expected when interest rates rise from their current low levels. COMPANIES MARKETS 831 words
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35 2015-08-12 1 in net profit for the first quarter ended June 30, 2015, to S$4.8 million due to higher finance expenses, foreign-exchange losses and weaker margins. COMPANIES MARKETS 1235 words
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Article, Illustration23 2015-08-12 1 Millennium Copthorne Hotels agrees to acquire the Hard Days Night Hotel in the UK, the only Beatles-inspired hotel in the world. REAL ESTATE/1423 words
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34 2015-08-12 1 bond market to its second-busiest day of 2015 by number of trades on Monday, as 12 deals raise US$14 billion most of it for banks. BANKING FINANCE 1634 words
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28 2015-08-12 1 in the second quarter, but a weak underlying trend suggests that inflation could pick up more quickly than economists have anticipated. GOVERNMENT ECONOMY 2128 words
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Article25 2015-08-12 1 offering tax-liability coverage in India’s cross-border mergers and acquisitions market because of a relatively high risk of disputes. GOVERNMENT ECONOMY 2225 words
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Advertisement102 2015-08-12 1 8 "*****1 *****4 BAILOUT DEAL Greece and its creditors reach agreement TOP STORIES 6 Deutsche Bank db.com Global strength and At the cei 'pASViCn^.'hr expertise, 's markets. This advertisement has been approved and/or communicated by Deutsche Bank AG or by its subsidiaries and/ or affiliates ("DB") an Authority and subject102 words
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Advertisement21 2015-08-12 1 NOBLE GROUP Earnings woes, scepticism erase intra-day gains COMPANIES MARKETS 7 MONEY MATTERS Value creation, S’pore's new mantra EXEC MONEY 3021 words
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Advertisement12 2015-08-12 1 GENERAL ELECTION Tuck Yew will not stand for re-election TOP STORIES 212 words
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TOP STORIES
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Article49 2015-08-12 2 IN “Jubilant chorus as S’pore turns 50” (BT, Aug 10), we said a tribute fly-past to Mr Lee Kuan Yew was performed by the Royal Singapore Air Force (RSAF) Black Knights. It should be the Republic of Singapore Air Force Black Knights. We are sorry for the error.49 words
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Article, Illustration581 2015-08-12 2 Chuang Peck Ming - Transport Minister decides to leave despite PM’s attempts to make him stay SINGAPORE GENERAL ELECTION By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore TRANSPORT Minister Lui Tuck Yew has decided not to contest in the coming general election, a decision Prime Minister Lee Hsien Loong acceptedFILE PHOTO - 581 words
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946 2015-08-12 2 Dear Prime Minister - Letter from Minister for Transport Lui Tuck Yew Dear Prime Minister It is with deep regret that I confirm my decision not to stand for re-elec-tion in the coming General Election. I broached this subject with you early this year.946 words
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853 2015-08-12 2 Amit Roy Choudhury - By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore AFTER two years of deliberations, the private sector-led steering committee has come up with a plan for building a globally competitive infocomm media ecosystem in Singapore one that both enables and complements the nation’s ambitions to become853 words
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363 2015-08-12 2 Caithlin Ng - By Caithlin Ng caithng@sph.com.sg Singapore CONSTRUCTION of two child-care centres in Sengkang and Punggol each offering 500 places begins this month. These 1,000 more child-care places will be available by mid-2016. Both centres will be run by Early Childhood and Development Agency363 words
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Article, Illustration459 2015-08-12 4 Melissa Tan - Sharp 4.9% contraction in Q2 cushioned by higher growth in services and construction SINGAPORE ECONOMY By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE manufacturing sector has turned out to be the weakest link in the first half of this year after posting aSource: Ministry of Trade and Industry - 459 words
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Article, Illustration548 2015-08-12 4 By chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore A WEAKER than expected global economy slashed year-on-year growth of non-oil domestic exports by more than half to 2.1 per cent in the second quarter. Softer regional economic growth is likely to trim Singapore’s tradeSource: IE Singapore - 548 words
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Article, Illustration611 2015-08-12 4 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo THE World Bank predicted on Tuesday that the international price of oil could fall further by as much as US$ 10 a barrel next year, as a result of the lifting of sanctionsPHOTO: BLOOMBERG - 611 words
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Article, Illustration490 2015-08-12 4 Melissa Tan - By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore LABOUR productivity figures for the Singapore economy would be more accurate if they were computed based on actual hours worked rather than on the number of workers, a Ministry of Trade and Industry paper saidSource: Ministry of Trade and Industry - 490 words
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409 2015-08-12 4 Andy Mukherjee - &SH REUTERS BREAKINGVIEWS By Andy Mukherjee Singapore THE anxiety level about a fresh round of worldwide currency skirmishes just went up by a notch. The trigger this time is a surprise, near 2 per cent devaluation of the Chinese yuan against the US dollar.409 words
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Article, Illustration692 2015-08-12 6 Creditors forge initial agreement on steps from pension changes to taxes that will unlock 85b euros in funds BLOOMBERG Athens GREECE reached an accord with creditors on the terms of a third bailout, paving the way for national parliaments to voteBLOOMBERG; PHOTO: BLOOMBERG - 692 words
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492 2015-08-12 6 AFP San Francisco GOOGLE unveiled a surprise corporate overhaul on Monday, forming a new parent company dubbed Alphabet to include Internet search and a handful of independent companies. Google chief executive Larry Page announced the change, saying he would hold the same titleAFP - 492 words
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Advertisement86 2015-08-12 6 Everyone DREAMS. IDOL DELIVERS. Join our judges to witness the winner of the inaugural invest idol 2015 JUDGE: Lynn Gaspar, Senior Vice President, The Singapore Exchange JUDGE: Christopher Lee, CEO, ShareInvestor JUDGE: Gabriel Yap, Executive Chairman, GCP Global HOST: Maddy Barber, Kiss92 DJ the final four Cavan Chiam Choon Hao86 words
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Advertisement663 2015-08-12 6 IN THE MATTER OF COMPANIES ACT, CAP 50 AND IN THE MATTER OF STTA PTE. LTD. REG. NO. *****6243D (IN MEMBERS’ VOLUNTARY LIQUIDATION) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the Company held on 06 August 2015, the following Resolutions were passed: It was663 words
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COMPANfES & MARKETS
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Article, Illustration900 2015-08-12 7 Lynette Khoo - Earnings woes and scepticism set in despite the group releasing full PwC report on the valuation of its contracts VOLATILE NOBLE By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore NOBLE Group shares went on a see-saw on Tuesday, as confidence in the stock arising from the PricewaterhouseCoopersSource: Bloomberg - 900 words
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632 2015-08-12 7 R SIVANITHY - HOCK LOCK SIEW BY R SIVANITHY AFTER an encouraging early bounce to S$0.645, Noble Group’s shares on Tuesday finished S$0.01 weaker at S$0.57, a disappointing outcome for those who might have been hoping that a positive assurance report by accountants PricewaterhouseCoopers632 words
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335 2015-08-12 8 Ong Hui Qun - By Ong Hui Qun ohuiqun@sph.com.sg Singapore RETAIL jeweller Soo Kee Group has launched its initial public offering (IPO) for a Catalist listing at S$0.30 per share. Of the 112.5 million new shares being offered, nine million shares are being offered to the public while335 words
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713 2015-08-12 8 Siow Li Sen - S&P report notes that their Tier 1 capital ratios average 12-13 per cent, above the regulatory 8 per cent minimum By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE strong capital positions of the three Singapore banks will be a buffer against the higher number713 words
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CORPORATE DIGEST
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Article50 2015-08-12 8 KEPPEL Offshore Marine Ltd’s wholly owned subsidiary Keppel Shipyard Ltd has secured a floating production storage and offloading (FPSO) conversion contract as well as three repair, upgrade and modification contracts worth a total of about S$125 million. This is Keppel’s third conversion/upgrading project for Armada Madura EPC Limited.50 words
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Article24 2015-08-12 8 KOH Brothers Group has secured an S$86.3 million contract from water agency PUB to upgrade a 1.8km section of the Kallang River.24 words
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Article72 2015-08-12 8 ISDN’s net earnings for the second quarter to end-June fell 27.6 per cent to S$2.8 million, due to higher costs of goods and softer markets in Singapore and Malaysia. But strong sales in North Asia and South-east Asia boosted topline revenue by 3 per cent to S$67.6 million. For72 words
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Article100 2015-08-12 8 VICOM saw a 4.8 per cent year-on-year rise in net profit to S$7.58 million for the second quarter ended June 30, lifted in part by lower costs. Revenue was flat at S$27.29 million while earnings per share came to 8.55 Singapore cents. Operating costs slid 1.5 per cent to100 words
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Article51 2015-08-12 8 WEE Hur’s second-quarter earnings rose 147 per cent to S$16.2 million, due to higher progressive recognition of profits from its fully-sold 65 per cent-owned residential project, Parc Centros. First-half profit to shareholders rose 118 per cent to S$29.8 million. The group declared an interim dividend of S$0.0075 per51 words
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Article93 2015-08-12 8 LOWER contributions from its high-margin fisheries business and absence of gain from the disposal of assets saw Pacific Andes’ third-quarter earnings slump 90 per cent to HK$37.7 million (S$6.8 million). Revenue fell 7 per cent to HK$2 billion. For the nine months to end-June, net profit was HK$163.893 words
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Article53 2015-08-12 8 HEALTHWAY Medical Corporation Limited posted a jump in second-quarter net profit to S$2.05 million from S$520,000, boosted by an increase in patient load. Revenue for the three months ended June rose 15.5 per cent to S$24.06 million. Earnings per share rose to 0.09 Singapore cents from 0.02 cents53 words
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Article, Illustration63 2015-08-12 10 STI Catalist Straits Times Index Aug 11,2015 3,153.06 -43.60 (-1.36%) Current streak 1 day Day high 3,214.50 Day low 3,148.34 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,153.06 (Aug 11, 2015) FTSE ST Catalist index Aug 11,2015 606.25 -3.74 (-0.61%) Current streak 3 days Day high 613.01 Day low63 words
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Article, Illustration657 2015-08-12 10 R Sivanithy - Volatility in China and expectation of a sooner-than-later US rate hike are likely reasons for the selling: brokers STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT WALL Street may have rebounded sharply on Monday after seven successive days of losses but there was no impact here, asSource: Bloomberg - 657 words
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Article315 2015-08-12 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 230 -11 242/226 271 219 6.3 5819.9 CapitaLand 320 -2 329/320 379 293 11.7 2.8 *****.3 CapitaMall Trust 201 -6 207/200 228 188.5 5.4 6975.5 CityDev 912 -15 924/908 1095 908 11315 words
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Article35 2015-08-12 10 VOLUME Noble 307,450,900 StratechGroup 226,452,400 New Silkroutes 61,750,000 Golden Agri-Res 61,696,000 Beng Kuang 49,740,200 Market volume 2,137,414,000 VALUE DBS Grp 227,262,825 Noble 185,492,196 UOB 134,305,307 Singtel 114,486,283 Global Logistic 114,385,384 Market value 1,902,212,00035 words
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Article110 2015-08-12 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 319 -4 764 324/318 355/318 318/319 IS MS INDIA US$ US751 -15 264 766/750 1000/696 751/754 93.9 UETF SSE50China 255 +9 147 261/251 340/150 251/256 79.7 ABF SG Bond ETF 114.7 64 115/114.7 123.5/110.2110 words
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Article77 2015-08-12 10 Aug 11 VALUE CLOSE BT OB/OS -1194.00 -61.00 BT CADI -*****.00 -123.00 BT 10-day MA -*****.00 -120.00 FTSE ST Mid Cap 721.39 -7.29 FTSE ST Small Cap 445.22 -2.49 FTSE ST All Share 756.10 -9.64 FTSE ST China Top 185.62 -0.90 FTSE ST China 226.57 -2.06 FTSE77 words
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Article76 2015-08-12 10 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 373.2 2.6 *****/***** JMH USD 5351 102.0 1.4 6788/5045 DBXT Vietnam US$ 2681 97.8 2.7 3100/2250 DBXT China50 US$ 3317 75.5 1.7 4258/2987 Lyxor ChinaH US$ 1592 68.5 3.2 2055/1390 BY PERCENTAGE CLOSE UP 52w high/low China Env Res 4.976 words
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Article, Illustration35 2015-08-12 10 STI FTSE ST All-Share ftse ST All-Share index Aug 11,2015 756.10 -9.64 (-1.26%) Current streak 1 day Day high 768.90 Day low 755.38 52-week high 847.98 (Apr 15, 2015) 52-week low 756.10 (Aug 11, 2015)35 words
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Article, Illustration33 2015-08-12 10 STI MSCI EAFE MSCI EAFE Index Aug 10,2015 1,883.89 +15.25 (+0.82%) Current streak 1 day Day high 1,886.45 Day low 1,866.23 52-week high 1,949.49 (May 15, 2015) 52-week low 1,697.01 (Jan 7, 2015)33 words
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Article186 2015-08-12 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 12 2 0 0 0 1 12 2 Manufacturing 41 56 34 5 15 8 46 71 42 Commerce 11 23 17 3 6 4 14 29 21 Tpt/Stor/Comms 8 20 7186 words
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Article123 2015-08-12 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 19,001 19,001 90,366 90,366 Manufacturing 216,842 85,490 302,332 144,160 1,590 145,750 Commerce 440,289 45,496 485,785 264,494 2,949 267,443 Tpt/Stor/Comms 141,623 9,169 150,792 245,942 893 246,835 Finance 38,994 95 39,089 501,762 16 501,779 Construction 45,711 6,036123 words
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Article81 2015-08-12 10 BY CENTS CLOSE DOWN 52w high/low SPDR DJIA US$ ***** -714.2 -2.8 *****/***** Lyxor ThaiSET US$ ***** -236.2 -1.4 *****/***** DBXT MSKorea US$ 4918 -139.8 -2.0 6625/4911 DBXT MSMSIA US$ 1115 -120.2 -7.2 1593/1115 DBXT MSINDO US$ 1170 -82.5 -4.8 1536/1170 BY PERCENTAGE CLOSE DOWN 52w high/low UOB MB81 words
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Article82 2015-08-12 10 VOL CLOSE($) CHANGE Great Group 3,205.0 0.022 +0.008 +57.14 Stamford Tyres 540.2 0.270 -0.060 -18.18 Green Build 95.0 0.350 +0.095 +37.26 CH Offshore 1,355.6 0.555 +0.075 +15.63 JasonHldg 37,593.8 0.181 +0.035 +23.97 Metech Intl 9,299.9 0.003 -0.001 -25.00 Sakae 29.0 0.500 -0.050 -9.09 StratechGroup 226,452.4 0.089 +0.012 +15.5882 words
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BROKERS’ TAKE
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Article120 2015-08-12 10 Hold Aug 11 close: S$0.57 Target price: S$0.65 UOB Kay Hian, Aug 11 NOBLE reported net profit of US$63 million for Q2 2015 (-4.8 per cent year-on-year, -41.3 per cent quarter-on-quarter) and US$169 million (-22.4 per cent year-on-year) in the first half of 2015. Net profit in first120 words
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Article192 2015-08-12 10 Sell Aug 11 close: S$0.835 Target price: S$0.75 OCBC Investment Research, Aug 11 HYFLUX reported yet another dismal quarter last Thursday; although reported revenue was up 18 per cent year-on-year and 57 per cent quarter-on-quarter at S$94.8 million, it was boosted by the inclusion of S$42.5 million of192 words
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Article161 2015-08-12 10 Claire Huang - By Claire Huang Hold Aug 11 close: S$0.69 Target price: S$0.70 CIMB Research, Aug 11 FAR East Hospitality Trust’s (FEHT) Q2 2015 results were in line with expectations, with Q2 and first half’s distribution per unit (DPU) accounting for 24 per cent and 45 per cent161 words
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397 2015-08-12 11 CURRENCIES AFP Tokyo ASIA-PACIFIC currencies came under pressure on Tuesday after China unexpectedly devalued its yuan currency in the face of weakening growth, driving the US dollar higher. China’s central bank announced a near 2 per cent drop in the value ofAFP - 397 words
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FOREX RATES
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Article471 2015-08-12 11 Aug 11 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.956 4.648 0.666 5.698 47.062 99.747 0.917 8.648 2.907 1.118 74.780 33.742 1.027 9.326 0.722 23.527 25.911 0.471 0.735 Canada 1.046 4.861471 words
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Article155 2015-08-12 11 Aug 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0264 1.0276 0.7344 0.7349 Canadian dollar 1.0737 1.0745 0.7685 0.7682 Euro 1.5416 1.5427 1.1030 1.1033 NZ dollar 0.9178 0.9188 0.6567 0.6571 Sterling pound 2.1804 2.1820 1.5601 1.5605155 words
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Article22 2015-08-12 11 Aug 11 S$ Bid Offer 1-month 1.3988 1.3999 2-months 1.4001 1.4010 3-months 1.4006 1.4015 6-months 1.4022 1.4036 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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202 2015-08-12 11 Aug 11 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 9 -3.3 9673 0.1 2100 4 OCBC Bk MB eCW*****1 8.3 -1.9 7638 0.2 1040 4 KepCorp MB eCW*****1 11.5 -0.6 4922 0.2 780202 words
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Article, Illustration371 2015-08-12 11 'O f I I In local curr In S$ In US$ dy yr dy yr dy yr Aug 10 Index Change Change Change Change Change Change World Preliminary 1349.1 0.9 5.7 0.9 7.8 1.0 3.2 EAFE Preliminary 1102.8 0.6 11.7 0.8 10.9 0.8 6.1 Europe'O f I —— I — - 371 words
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Article392 2015-08-12 11 Aug 11 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Aug15 *****.50 *****.50 *****.00 *****.00 *****8 *****2 Sep15 *****.00 *****.00 *****.00 *****.00 5342 9452 NIKKEI 225 INDEX FUTURES Sep15 *****.00 *****.00 *****.00 *****.00 *****8 *****6 Dec15 *****.00 *****.00 *****.00 *****.00 ***** ***** MSCI TAIWAN392 words
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BANK RATES
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Article36 2015-08-12 11 Aug 11 1 mth 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 1.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters36 words
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Article154 2015-08-12 11 Aug 11 $S Offer Bid 0vernight 0.04 0.02 1-month 0.75 0.625 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.03 US$ Offer Bid 7 days 0.22 0.12 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.80 0.60 12154 words
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Article59 2015-08-12 11 Aug 11 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.16 5-Year N*****0S 2.000 01-Jul-20 99.79 10-Year NX*****Z 2.375 01-Jun-25 98.22 98.35 98.25 15-Year NY*****E 2.875 01-Jul-29 100.17 20-Year NZ*****V 3.375 01-Sep-33 106.54 30-Year NA*****N 2.750 01-Apr-42 96.71 Note:59 words
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AGRI METALS ENERGY
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Article248 2015-08-12 11 Aug-10 Price Net change change Last Trade Agricultural Aug-10 CBOT Soybeans (US cents/bu) 1044.75 35.75 3.54% 14/08/2015 CBOT Soybean Oil (US cents/lb) 30.41 0.38 1.27% 14/08/2015 CBOT Wheat (US cents/bu) 525.50 15.00 2.94% 14/09/2015 Aug-10 LIFFE Cocoa (£/tonne) 2062.00 -17.00 -0.82% 15/09/2015 LIFFE Coffee (US$/tonne) 1693.00 32.00 1.93%248 words
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402 2015-08-12 12 Anita Gabriel - Revenue remains flat at S$56.6m By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore REAL-ESTATE solutions specialist Boustead Projects reported a 19 per cent drop in its net profit for the first quarter ended June 30, 2015, to S$4.8 million due to402 words
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386 2015-08-12 12 Kenneth Lim - By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore HAW PAR Corp’s trademark ointment apparently provides relief from more than just sore muscles. Among the conglomerate’s core business segments, healthcare was the only one to register significant growth in the second quarter enough to overcome386 words
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309 2015-08-12 12 Claire Huang - By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore UK-BASED insurer Prudential plc has posted a 4 per cent growth in its first-half net profit to £2.12 billion (S$4.63 billion), lifted by its businesses in Asia, the United States and the UK, and its asset management309 words
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Article358 2015-08-12 12 Lee Meixian - By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SUPER Group on Tuesday reported a 30 per cent drop in net profit to S$ 10.5 million, on the back of a 5 per cent dip in revenue to S$ 125.5 million for its second quarter ended June 30,358 words
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Advertisement0 2015-08-12 7 _==$@@+{>],$'+=_|!}&?"]+~"]/,:{0 words
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Advertisement136 2015-08-12 7 Live Life like a cuIinary lover Immerse yourself in the Ascott Lifestyle and live as you always have; just bigger, better and bolder. Thrill your tastebuds with an amazing array of authentic flavours g your palate will be fully satiated. 4 m Because life is about living. o "W. CULIUKfc136 words
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Advertisement324 2015-08-12 8 2015 INTERIM RESULTS graup Financial Results for the six months ended (million tonnes US$ million) 30 June 2015 30 June 2014 --J “It is very pleasing that we have continued to build the profitability and diversity of our core businesses, especially in the light of the challenging market conditions/’ Yusuf324 words
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Advertisement14 2015-08-12 10 Brokers who wish to send in their reports may e-mail us at btnews@sph. com.sg14 words
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Advertisement215 2015-08-12 12 SINGAPORE SPORTS AWARDS 2015 CONGRATULATIONS TO OUR LEAGUE OF CHAMPIONS Sp©/t SINGAPORE r A •Aims rx > A 4 i (i .asajaEj r I m Sf.’J B V4 -j Jj Photo Credit: World Sport Group Photo Credit: Netball Singapore SINGAPORE SPORTS AWARDS 2015 WINNER bfst sports Event or thf year215 words
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Advertisement1641 2015-08-12 13 ADVERTORIAL Grooming accountancy talent SIM Global Education develops accounting professionals for Singapore’s financial centre ambitions ACCOUNTING is the lifeblood of business, and SIM Global Education (SIM GE) plays a critical role in training graduates for the industry. The Asia-Pacific is the fastest growing region for international accounting networks, and Singapore1,641 words
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REAL ESTATE
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Article, Illustration540 2015-08-12 14 Debbie Yong - Millennium Copthorne to acquire Beatles-inspired hotel for £13.8m Hard Days Night Hotel is adjacent to Liverpool’s Cavern Club, where the Beatles rose to fame; acquisition expected to be completed by Aug 19 S’PORE DEVELOPERS OVERSEAS By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore MILLENNIUM Copthorne Hotels (M&C) has agreed to acquire the540 words
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466 2015-08-12 14 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore PROPERTY developer Oxley Holdings has inked management agreements with Dubai’s Jumeirah Group to operate a 190-room luxury hotel and to brand 273 premium residences in Kuala Lumpur. The agreements were signed via its wholly466 words
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Article, Illustration479 2015-08-12 14 BLOOMBERG Hong Kong LANDLORDS on Hong Kong’s Russell Street a year ago could boast the highest retail rents in the world. Now they are adjusting to a new reality. Burberry Group plc, Kering SA and jewellery retailer Chow Tai Fook Jewellery GroupBLOOMBERG; PHOTO: BLOOMBERG - 479 words
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272 2015-08-12 14 REUTERS Hong Kong CHINA’S big property developers saw sales jump in July, as realtors said that some investors sought refuge from the mainland’s US$4 trillion stock market rout by pulling their money out of shares and putting it into bricks and mortar.REUTERS - 272 words
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Advertisement190 2015-08-12 14 THE DOMAIN @914 EAST COAST ROAD TFP "•"'I r"! ali«i 7j rf* I lll i|«?r Contact: Investment Properties 6 Battery Road #32-01 Singapore *****9 Sammi Lim Low Choon Sin (CEA Reg No.: R*****9J) (CEA Reg. No,: R*****5H) Tel: 9368 9803 Tel: 9841 0006 Entire Ground Floor Strata Retail Podium Fronting190 words
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Advertisement97 2015-08-12 14 PAYA UBI INDUSTRIAL PARK $1.50psf $350psf ONWARDS LEASE SALE 200 to 7,500 sq ft Own parking space (not inclusive in listed area) Tel: 9090 2222 Office: 53 Ubi Avenue 1 #01-11 Expression of Interest Joint Venture for logistic/warehouse facilities operation Seeking established operator for logistic/warehouse operation Single storey warehouse space97 words
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Advertisement159 2015-08-12 14 NOTICES IN THE MATTER OF COMPANIES ACT COMPANIES ACT, CAP. 50 CAP .50 AND IN THE MATTER OF SMART CRAYON PTE. LTD. REG. NO. *****1869H (In Members’ Voluntary Liquidation) NOTICE OF FINAL GENERAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50, that the159 words
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BANKING & FINANCE
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Article, Illustration660 2015-08-12 16 Monday was second-busiest day of 2015 by number of trades, with 12 deals that raised US$14 billion IFR New York FINANCIAL institutions pushed the US high-grade bond market to its sec-ond-busiest day of 2015 by number of trades on Monday, as 12 deals raisedIFR; PHOTO: BLOOMBERG - 660 words
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213 2015-08-12 16 REUTERS London THE Co-operative Bank will not be fined for failings that helped push the bank to the brink of collapse before it was bailed out by bondholders, Britain’s financial regulators said on Tuesday. Instead, capital should be preserved to bolster itsREUTERS - 213 words
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200 2015-08-12 16 BLOOMBERG Washington WALL Street banks are close to winning a further delay of a US policy that clamps down on their overseas derivatives trades, according to two people with knowledge of the matter. The Commodity Futures Trading Commission is probably going toBLOOMBERG - 200 words
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457 2015-08-12 16 BLOOMBERG Tokyo MITSUBISHI UFJ Financial Group Inc is seeking to expand its workforce in Taiwan as it pursues business from companies benefiting from increasing trade between the island and China. “We need to be geographically close to our customers,” Tetsuo Tani, deputy headBLOOMBERG - 457 words
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Page 16 Advertisements
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Advertisement229 2015-08-12 16 Wine, Dine& H gnrs c3^ 17 AUGUST TO 13 SEPTEMBER 2015 :m¥x. a Mttft v./' .V* XP iftx v W .r^ ■wi mm, 3! SwissdtelXHE STAMFORD SINGAPORE For reservations and enquiries, please call +65 6431 6156, email dining.singapore@swissotel.com or book online at www.swissotel.com/hotels/singapore-stamford/dining. Swissotel The Stamford, 2 Stamford Road, Singapore229 words
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Advertisement394 2015-08-12 17 NOTICES ~=),$^@=$/'"+-\",&&`_"",~\=<{|$ CNT HEALTH FOOD PTE LTD COMPANY REGISTRATION NO. *****8137W (INCORPORATED IN THE REPUBLIC OF SINGAPORE) NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY WAS DEEMED TO HAVE BEEN HELD AT 5/F WAI YUEN TONG MEDICINE BUILDING, NO 9 WANG KWONG394 words
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ENERGY & COMMODITIES
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418 2015-08-12 18 StanChart withdraws as financial adviser to project; approval must now be reconsidered by environment minister AFP Sydney INDIAN firm Adani Tuesday accused environmental activists of exploiting legal loopholes to stall a massive Australian coal mine, after Standard Chartered bank withdrew as aAFP - 418 words
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329 2015-08-12 18 BLOOMBERG Mumbai PRIME Minister Narendra Modi’s draft plan to tap India’s gold hoard and cut its reliance on imports needs more work to get banks involved, according to the chief of the country’s biggest refiner. An estimated 20,000 tonnes or moreBLOOMBERG - 329 words
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Advertisement1689 2015-08-12 18 NOTICES T O LL FREE 1 800 2 89 88 22 I E m a il n o ti ces s p h co m s g I www s p h c l ass co m s g n o ti ces sramFonn runes STAMFORD TYRES CORPORATION LIMITED Company1,689 words
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Advertisement1492 2015-08-12 18 ACE ACHIEVE INFOCOM LIMITED (Registration No: *****) (Incorporated in Bermuda) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of Ace Achieve Infocom Limited (the “Company”) will be held at Galangal Room, Level 4, Village Hotel Katong, 25 Marine Parade, Singapore *****6 on Friday,1,492 words
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TECHNOLOGY
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Article, Illustration643 2015-08-12 19 Chairman Jack Ma beefing up e-commerce operator’s retail presence after 24% fall in its market value this year Hong Kong ALIBABA Group Holding Ltd will spend 28.3 billion yuan (S$6.3 billion) for a stake in Suning Commerce Group Ltd as China’sPHOTO: REUTERS - 643 words
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Advertisement338 2015-08-12 19 flP STProperty EVENTS STPROPERTY SEMINAR: Grow Your Returns Through Real Estate Investment in Singapore the Asia Pacific All prices are inclusive of GST TICKETS 1- Pass 2- Day Pass Date: Saturday Sunday 29-30 August 2015 NORMAL $30 $40 r.rw ATTEND OUR SEMINAR FOR A CHANCE TO WIN PRIZES WORTH Time:338 words
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CONSUMER
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Article, Illustration915 2015-08-12 20 Firm spent US$15.2b buying back shares over the past five years, at an average price of US$60.62 each BLOOMBERG Los Angeles ADD a stock repurchase programme that now looks like a dud to the woes of Viacom Inc chief executiveBLOOMBERG; PHOTO: AFP - 915 words
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281 2015-08-12 20 AFP Seoul THE head of South Korea’s Lotte Group on Tuesday vowed a new era of corporate governance and transparency as he apologised for the family feud engulfing the beleaguered retail giant. In an address broadcast live on television, group chairman ShinAFP - 281 words
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Advertisement124 2015-08-12 20 SINCE IS o^ e xuvsvhxunvwvs i L r C tr CELEBRATING 170 Years Of The Straits Times If it mattered, it was in The Straits Times. For 170 years, The Straits Times has been telling the Singapore story with understanding, insight and authority. LIVING HISTORY: 170 YEARS OF THE STRAITS124 words
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GOVERNMENT & ECONOMY
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641 2015-08-12 21 In Q2, economy grows at 2.3% annual pace; longer-term Treasuries trim price gains after the release of data LATEST US DATA REUTERS Washington US NON-FARM productivity rebounded in the second quarter, but a weak underlying trend suggested inflation could pick up more quickly thanREUTERS - 641 words
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Article, Illustration655 2015-08-12 21 REUTERS Singapore CHINA’S growing ability to buy and sell millions of barrels of crude oil on the Asian physical market in a matter of minutes through its main trading firms has given China so much clout that other tradersREUTERS; PHOTO: BLOOMBERG - 655 words
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824 2015-08-12 21 BLOOMBERG New York EXPOSING a new front in cybercrime, US authorities broke up an alleged insider trading ring that relied on computer hackers to pilfer corporate press announcements and then profited by trading on the sensitive information before it becameBLOOMBERG - 824 words
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716 2015-08-12 22 Modi fails to allay investor concerns over a law that allows authorities to make retrospective tax claims BLOOMBERG Mumbai PRIME Minister Narendra Modi needs to offer more than just his best intentions to clean up India’s whimsical tax regimeBLOOMBERG - 716 words
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380 2015-08-12 22 BLOOMBERG MOSCOW RUSSIA, which Moody’s Analytics estimates entered a recession in the first quarter, may be in for a rough ride. Gross domestic product (GDP) shrank 4.6 per cent from a year earlier in the second quarter, the most sinceBLOOMBERG - 380 words
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604 2015-08-12 22 BLOOMBERG Lagos AFRICA is battling the global currency markets with one hand tied behind its back. With foreign-exchange reserves equal to less than a 10th of the emerging-market average, nations from Ghana to Zambia are finding they are powerless toBLOOMBERG - 604 words
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Page 21 Advertisements
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Advertisement934 2015-08-12 21 NOTICES T O L L F R E E 1 8 0 0 -2 8 9 8 8 2 2 I E m a i l n o t i c e s s p h c o m s g I w w w s p h c l934 words
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Advertisement145 2015-08-12 21 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF Carlisle Hostel Management Pte Ltd (In Creditors’ Voluntary Liquidation) Reg. No. *****4479R NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 81 Victoria Street, SMU Administration Building Function145 words
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Advertisement69 2015-08-12 22 Sometimes you need to pay to have a view of the world. But that's not how we see it. 4 ■v* 1 f .i H -i 1* •■FREE aseone» VISITTHE BRAND NEWASIAONE.COM AsiaOne is a free-access website that curates important and interesting news and lifestyle features from a wide range69 words
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TRANSPORT
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Article691 2015-08-12 23 DAVID HUGHES - Reefers are not bowing out yet They will, however, be eventually replaced by dedicated, fast, refrigerated containerships STRAIT TALK BY DAVID HUGHES AS we all know, containerisation has changed most dry cargo shipping beyond recognition over the past 40 years. There is, though, one type of vessel that has not691 words
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253 2015-08-12 23 China’s shipping groups in merger talks source REUTERS Shanghai CHINA Ocean Shipping (Group) Company (Cosco) and China Shipping Group, two of the country’s largest shipping firms, are in talks over a possible merger, a source with direct knowledge of the matter said. “The idea (of a possible merger) exists,” saidREUTERS - 253 words
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Article, Illustration758 2015-08-12 23 BLOOMBERG Munich IF Hamburg architect Oliver Kienzler had to buy just one car for his growing family, it would be a sensible Skoda station wagon. Instead, he has an entire fleet of BMWs at his disposal. He is part ofBLOOMBERG; ST FILE PHOTO - 758 words
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220 2015-08-12 23 BLOOMBERG Washington US AIR-traffic controllers report high levels of chronic fatigue from schedules that require they work through the night, and aviation regulators need to take steps to limit the potential safety hazard, a federal study concluded. Of controllers whoBLOOMBERG - 220 words
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259 2015-08-12 23 REUTERS Jakarta A JOINT venture between Japanese construction firm Kajima Corp and Indonesian state builder PT Waskita Karya Tbk has been forced to delay the completion of a road to Jakarta’s main port due to flaws in the building material. The TanjungREUTERS - 259 words
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Article, Illustration1374 2015-08-12 24 Misadventures involving such aircraft in the US are happening in a regulatory vacuum WP Washington ROGUE drone operators are rapidly becoming a national nuisance in the United States, invading sensitive airspace and private property with the regulators of the nation’s skies largely powerlessWP; PHOTO: BLOOMBERG - 1,374 words
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Page 23 Advertisements
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Advertisement163 2015-08-12 23 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices NOTICE TO TRADE RATE RESTORATION Please be advised that we will be implementing the following rate restoration for all SOC shipments from the following ports IN/OUT SINGAPORE and PORT KLANG effective 15 August 2015: LIST A163 words
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Page 24 Advertisements
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Advertisement307 2015-08-12 24 World Amateur Golfers Championship SINGAPORE Do you have what it takes to play golf for Singapore? Goodie bag worth more than $600, comprising 6 months’ digital subscriptions for The Business Times and The New Paper, 1 year digital subscription for 2 magazines#, a box of Titleist Velocity golf balls, a307 words
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1946 2015-08-12 25 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR DREAM JASMINE 18 100 16/8 18/8 21/8 23/8 POSITIVE STAR 109 100 28/81,946 words
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Page 25 Advertisements
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Advertisement103 2015-08-12 25 Experienced sh;p maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES Make A Splash In The Maritime World Via s^Smaritime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime industry,103 words
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OPINION
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607 2015-08-12 26 EDITORIAL THE People’s Bank of China (PBOC) stunned markets on Tuesday by allowing the yuan to depreciate by almost 2 per cent against the US dollar in a single day. The big question is whether this is just a one-off move,607 words
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Article, Illustration801 2015-08-12 26 Frank Ching - China’s stick carrot policy towards Asean not working THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 DESPITE strong opposition from China, the South China Sea issue was vigorously discussed by Asean foreign ministers at their annual meeting801 words
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Article, Illustration1209 2015-08-12 26 PETER WONG - As South-east Asian countries are a vital part of Beijing’s “One Belt, One Road” initiative, seizing the opportunity will be a huge boost for Singapore. BY PETER WONG Singapore.BY PETER WONG T The writer is deputy chairman and chief executive, The Hongkong andPHOTO: BLOOMBERG - 1,209 words
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937 2015-08-12 27 Andrea Soh, Kelly Tay - TT COMMENTARY By Andrea Soh, Kelly Tay sandrea@sph.com.sg @AndreaSohBT kellytay@sph.com.sg @KellyTayBT Singapore AS Singapore works on its way forward, the very same challenges it has faced since Day One land and labour constraints will still be there. The first is more easily solved,937 words
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Article, Illustration1923 2015-08-12 27 ANDREA SOH, KELLY TAY - All hands must now be on deck to clock productivitydriven growth and develop its innovative capability –and be nimble while at it. BY ANDREA SOH AND KELLY TAY BY ANDREA SOH, KELLY TAY AS Singapore surveys the future landscape on its 50thPHOTO: REUTERS - 1,923 words
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LIFE & CULTURE
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Article, Illustration775 2015-08-12 28 Mineral-rich soils and a continental climate make it particularly ideal for producing white wines AFP Ormoz, Slovenia FROM New York to Sao Paulo, epicureans have been revelling in a new generation of exciting wines from one of the least expected placesAFP; PHOTO: AFP - 775 words
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751 2015-08-12 28 BLOOMBERG Rome RUSSIAN President Vladimir Putin is determined to make European exporters pay for the West’s opposition to his Ukraine policy. Up to a point. When Russia imposed a trade embargo on imported foods in August last year, caviar was sparedBLOOMBERG - 751 words
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293 2015-08-12 28 AFP Miami PEOPLE who consume lots of fried food and sugary drinks have a 56 per cent higher risk of heart disease compared to those who eat healthier, US researchers said on Monday. The findings in Circulation, a journal ofAFP - 293 words
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Page 28 Advertisements
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Advertisement204 2015-08-12 28 The one-day conference will be a pure learning journey where only investment ideas, content, strategies and discussion matter. We promise. At this conference, there will be no sales talks, previews or hard-selling. We want our participants to be UNPLUGGED from all the marketing spiel. “One does not go to see204 words
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Advertisement12 2015-08-12 28 www.omy.sg >- gst a ft v E h ‘■W i SrSP^-5lPi#ni more @showbiz.omy.sg12 words
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Advertisement19 2015-08-12 28 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices19 words
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Page 28 Miscellaneous
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Miscellaneous319 2015-08-12 28 CRYPTIC CROSSWORD Across 1 Happy to draw in Foreign Office facing America (10) 6 Cliff shows sign of injury (4) 9 South America’s custom to follow hound (7,3) 10 Country landscape Russia provides (4) 12 Egg on broadcast clearly visible (6) 13 Eagerest to repair poor accommodation on board (8)319 words
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Page 29 Advertisements
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Advertisement435 2015-08-12 29 Speak Confidently, Present Engagingly, Work Productively! Who should attend: Sales professionals, first line managers, trainers and team leaders. FULL-DAY WORKSHOPS Speak With Confidence The ability to deliver an engaging speech or a winning presentation to bosses, colleagues and clients cannot be overstated. As much as the content of a speech435 words
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EXECUTIVE MONEY
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1247 2015-08-12 30 Hozefa Topiwalla - MONEY MATTERS By Hozefa Topiwalla The writer is head of Asean Research and Asean equity strategist, Morgan Stanley SINGAPORE’S Straits Times Index (STI) has returned a CAGR (compound annual growth rate) of 8 per cent, compared with a nominal GDP CAGR of around1,247 words
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463 2015-08-12 29 ON THE RADAR GLOBAL mutual funds sold marginally more stocks than they bought in the three months to Aug 5. Based on aggregate transactions on the top five stocks, there were S$1.05 billion worth of net sells, compared to net buys of463 words
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935 2015-08-12 29 Firm says a lot of engineering goes into deciding what it buys and sells in portfolios it manages BLOOMBERG Boston THREE times a day, Acadian Asset Management calculates the relative attractiveness and expected return of 40,000 stocks around the world. “You may notice we likeBLOOMBERG - 935 words
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Advertisement127 2015-08-12 30 Until 30 September 2015, enjoy a special $288* account opening promotion. Take the next step in trading at IG.com/sg/SG50 or call us at +65 *****118. Losses can exceed your deposits. Ensure you understand the risks and costs involved with CFD and FX trading by reading the Risk Disclosure Statement at127 words
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