The Business Times, 15 February 2006

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Total Pages: 28
1 28 The Business Times
  • 17 1 THE BUSINESS TIMES x S SING^WREBS«i^ >nline at http://business-times.asia 1 .com.sg MICA (P) 089/03/2005 Wednesday, February 15,2006
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  • 781 1  -  More reporting better sales, profits and new orders in Q4 2005: survey By DANIEL BUENAS [SINGAPORE] The Year of the Dog is shaping up to be an extremely auspicious one for businesses here, with more reporting better sales, profits and new orders in the last
    AP; Source: BT-GBI Business Climate Survey  -  781 words
  • 139 1 sn 2,440.98 (+11.48) ST INDEX FUTURES 2,444.00 (+12.00) siMsa 289.83 (+1.91) SIMSQ FUTURES 290.10 (+1.40) MARKETS Tuesday Change KLSE COMP 925.51 +2.74 NIKKEI 225 16,184.87 +307.21 HANG SENG 15.420.32 +108.23 SET INDEX 727.91 -10.16 JAKARTA COMP 1,230.38 -22.03 MANILA COMP 2,069.89 -17.75 SEOUL COMP 1,328.21 +7.42 SHENZHEN B
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  • 323 1 Get gifts and discounts get BT at home NOW it's easier than ever to get the latest financial news, insights and analysis in the comfort of your home. To encourage more readers to have their paper home-delivered, The Business Times is offering special discounts, great gifts and the chance to
    323 words
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  • TOP STORIES
    • 612 2  -  But long-serving Rafidah and Samy Vellu retain their portfolios By S JAYASANKARAN in Kuala Lumpur MALAYSIAN Premier Abdullah Ahmad Badawi yesterday reshuffled his Cabinet, but left key ministries intact and long-serving ministers untouched. The move has left critics wondering about his commitment to
      AP  -  612 words
    • 540 2  -  By DANIEL BUENAS [SINGAPORE] While Singapore strives to become a global research and development hub, most companies see China as the country with the best R&D environment, a survey has found. In the latest BT-GBI business climate survey, 27 per cent
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    • 482 2  -  Speculation that PSA may now be eyeing terminals on US west coast By NEIL BEHRMANN in London P&O shareholders have voted overwhelmingly in favour of Dubai Ports World's (DP World's) proposed acquisition of the company. P&O chairman John Parker said yesterday that 99.5
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    • 507 2 Sentosa Cove bungalow plot hits record $500 psf PRICES for bungalow plots in Sentosa Cove have hit a new high of $500 psf, up from the starting price of $260 psf when they were first launched in December 2003. And the buyer of the most expensive piece of
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    • 592 3  -  Foreigners and permanent residents account for 60% of buyers By ARTHUR SIM [SINGAPORE] Prices for bungalow plots in Sentosa Cove have hit a new high of $500 per square foot, up from the starting price of $260 psf when they were first launched
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    • 694 3  -  By SHOEB KAGDA in jaicana A US$l billion lawsuit in- volving Indonesia's largest coal mine and some of the country's most prominent businessmen is set to open in Singapore's High Court next week. The suit, filed by Singa-pore-registered Beckkett Pte Ltd against
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  • Page 2 Advertisements
    • 394 2 ■■firinfjjJpF <&'wHMIHH Sharing Singapore's Success* The 2006 Budget speech by Mr Lee Hsien Loong, Prime Minister Speakers Panellists and Minister for Finance will be delivered on 17 February. Tax consultants, PwC In our annual seminar, PricewaterhouseCoopers (PwC) tax Economist Manu Bhaskaran, experts digest and deliver the important features of the
      394 words

  • Page 3 Advertisements
    • 211 3 Jm J nk Bwl I k t m i I. <3 ■Ifflmß i I HT 1 138 I M I) 1 mmfc fr I I |yWm M **1 Mil I rC WSr* flufs i, i THE ALL-NEW PREVIA. SUPER LUXURIOUS ANY WAY YOU LOOK AT IT. luxury comes in many
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  • COMPANY NEWS
    • 510 4  -  Says it breached rules relating to timely disclosure of material info By WONG WEI KONG THE Singapore Exchange (SGX) yesterday reprimanded thumb drive maker Trek 2000 International for making selective disclosures through the media. In reprimanding Trek publicly, SGX said it had
      510 words
    • 206 4 Bloomberg A SHAREHOLDER of ComfortDelGro Corp plans to raise as much as $202 million selling shares in the Singapore-based company that operates the world's second-largest fleet of buses and taxis, according to a document linked to the sale. Singapore Labour
      Bloomberg  -  206 words
    • 473 4  -  By DONALD URQUHART SEMBCORP Marine continued its record breaking performance in 2005 with a 29 per cent jump in net profit over the year before, thanks to stunning growth in its rig-building business along with solid performance in offshore conversion and shipbuilding.
      473 words
    • 345 4  -  CORPORATE RESULTS By LESLIE YEE CONGLOMERATE WBL Corporation's net profit for the first quarter ended Dec 31 more than trebled to $25.8 million from $7.9 million as turnover rose 17 per cent to $597.9 million. The year-on-year jump in earnings attributable to shareholders
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    • 344 4  -  By TEH HOOI LING OLAM International, a global integrated supply chair manager of agricultural products and food ingredients, yesterday announced a 28 per cent jump in second-quarter net earnings to $24.1 million on a 26 per cent rise in turnover to $1.2
      344 words
    • 628 4  -  HOCK LOCK SIEW By CONRAD RAJ M t KNOW we can never achieve perfection. 1 But we can keep I aiming for it, and in I the process, we will improve." So said former OCBC Bank executive chairman Tan Chin Tuan. The quotation comes from
      628 words
    • 341 5  -  While group's interim loss was HK$59.6m,new unit contributed HK$21.sm profit By LESLIE YEE FORMER construction company Wee Poh Holdings, which completed a reverse takeover in November, is making progress on its new watch business. Wee Poh has left the construction sector and now has a
      341 words
    • 321 5  -  By WEI KONG THE lure of the growing China gaining market has prompted Multi Vision Intelligent Surveillance to raise its stake further in Sino Gear Force Ltd (SGFL), a company in which it already owned a 45 per cent stake. Multi Vision
      321 words
    • COMPANY BRIEFS
      • 58 5 DBS Group has appointed Andrew Buxton, 66, as a non-executive director. British national Mr Buxton, a former chairman of Barclays Bank and a director of Capita Land, will come onboard on Feb 17. With Mr Buxton's appointment, DBS' board comprises 12 members, including five
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      • 76 5 CAPITALAND is taking an 80 per cent stake in a joint venture to acquire and develop a 23,000 square metre prime residential site in Ho Chi Minh City, Vietnam. Capita Land Vietnam will subscribe for about US$ll.2 million or about S$ 18.3
        76 words
      • 40 5 COSCO Corp (Singapore) Limited yesterday unveiled several changes to its board. Among the changes, Ji Hai Sheng has been appointed vice-chairman of the shipping-related company from yesterday. He will remain president of the company.
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    • 316 8  -  CORPORATE RESULTS Drop in earnings caused by loss of income after sale of vessels By VEN SREENIVASAN LOSS of income following the sale of vessels depressed Singapore Shipping Corporation's (SSC) third-quarter earnings by 55 per cent. The mainboard-listed shipping line yesterday reported a profit of
      316 words
    • 355 8  -  By CONRAD TAN REGIONAL depot operator Eng Kong Holdings posted a 73 per cent increase in net profit to $2 million for its first half-year ended Dec 31, 2005, boosted by higher revenues in all business segments. Turnover for the six months
      355 words
    • OTHER RESULTS
      • 38 8 PAN-UNITED Marine Ltd's net profit jumped 70 per cent year on year to $3.68 million for its fourth quarter ended Dec 31, 2005. Q4 revenue rose 30 per cent to $66.85 million.
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      • 36 8 UNITED International Securities Limited posted lower net profits of $19.8 million last year, down 40.3 per cent from 2004. Operating revenue increased 23.2 per cent to $26.8 million.
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      • 44 8 FURNITURE and electronics retailer Courts (Singapore) has reported after-tax profit of $4 million for the third quarter ended Dec 31, up 42 per cent from the previous Q3. Sales turnover jumped 27 per cent to $85.9 million.
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      • 40 8 IPC Corporation Ltd, an education and IT specialist in Asia, reported a net profit of $8.6 million for the financial year ended Dec 31,2005, against a net loss of $627,000 in FY2004.
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      • 38 8 AQUA Terra Supply Co Ltd's net profit for the year ended Dec 31,2005, surged 717 per cent to $6.05 million. Revenue rose 280 per centto $112.24 million due mainly to two acquisitions.
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      • 42 8 PRINTING company Fung Choi Printing's net profit for its second quarter ended Dec 31, 2005, rose to HK532.53 million (Ss6.B million) from HK528.64 million a year ago. Turnover rose to HK5149.26 million from HK5114.91 miUion.
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      • 42 8 PROPERTY and retail group Second Chance's net profit for the six months to end December 2005 slipped to $4.28 million from $5.04 million. This is despite an increase in turnover to $24.11 million from $22.29 million.
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      • 41 8 IDT Holdings's net profit for the third quarter to end December 2005 plunged to HK$lO.O6 million (Ss2.l million) from HK550.41 million the previous year. Turnover, too, fell to HK$ 175.73 million from HK5279.81 million.
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      • 26 8 PLASTIC components maker Chosen Holdings' net profit for the six months ended December 2005 fell to $2.85 million from $3.49 million.
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      • 33 8 MENTOR Media's net profit for its third quarter ended Dec 31,2005, rose 45 per cent to $7.9 million. Revenue grew 44 per cent to $75.5 million.
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    • 237 8  -  By KALPANA RASHIWALA HAVING exhausted profit recognition from its Grange Residences condo, Wheelock Properties (Singapore) yesterday reported a 6.6 per cent drop in net profit to $35.4 million for the third quarter ended Dec 31, 2005. Although the group recognised profits from units sold in The
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    • 232 8  -  By MICHELLE QUAH SINGAPURA Finance has reported an 18.5-per-cent year-on-year improvement in its net profit for the halfyear ended Dec 31 despite a competitive environment thinning its* earnings margins. The listed finance company said yesterday that its net income for the period gained ground to
      232 words
    • 260 8  -  By ROLAND LIM NERA Electronics, a subsidiary of mainboard-listed Nera Telecommunications, yesterday reported fullyear net profit up 14 per cent to $7.9 million. The company, which specialises in contract manufacturing for the telecommunications and medical industry, increased its turnover 46 per cent to $106.9 million
      260 words
    • 193 8 SYSTEM Access Limited yesterday reported a 48.9 per cent drop in its net profit to U*****,000 for its first half-year ended Dec 31, 2005, due to keen competition, investments to develop its products and network expansion in Europe, Asia, Middle East and Africa. It also
      193 words
    • 335 8  -  By RONNIE UM INDONESIA'S Oyong field is expected to start producing between 10,000 and 20,000 barrels of oil daily (bpd) at end-March, according to the latest update by Australian operator Santos Ltd. This means Singapore Petroleum Company, with
      335 words
    • 348 8  -  By SIOW LI SEN WESTCOMB Capital is back in the listing business and its three-month hiatus has made the boutique corporate finance house realise that it must diversify and also land bigger fish. Yesterday, Westcomb Capital, a unit of listed Westcomb Financial Group, said it has
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    • 247 8  -  By WINSTON CHAI SITEL Semiconductor, a European cordless chip maker, has picked United Test and Assembly Center (Utac) to be its prime supplier. The strategic deal came as Utac also started testing of satellite communications chips yesterday for GCT Asia Pacific Inc,
      247 words
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  • Page 5 Advertisements
    • 52 5 m H J M %vir V-~* Inviting tenders? Call 1800 289 8822 or email notiees@sph.eom.sg to book your tender notice in our newspapers now. I notices a Vorsprung durch Technik www.audi.com.sg Premium Automobiles Showrooms: 9 Lang Kee Road Singapore *****0 Tel: 6566 1111 •55 Übi Road 1 Singapore *****9 Tel:
      52 words
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  • SINGAPORE MARKETS
    • 889 6  -  CURRENCIES But Asian units continue to outperform the greenback LARRY WEE Senior Correspondent THE US dollar has once againfound it hard to make good gains in Asia even though it has done better elsewhere this past week, but the high-yield-ing duo from
      889 words
    • 739 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Feb 14 and earlier) Subsantial No of Price SHAREHOLDING Shareholder/ Buy I Shares Per Before After Stock Trans Date Director Sen |000 Shr (Q 00 Magnus Energy 14-Feb-06 Chua Koh Ming Sell ***** 0.05 ***** 4.49 0 0.00 Vita Hldgs 14-Feb-06
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    • 103 6 THE Asian Small Companies Portfolio the investment fund managed by Lloyd George Investment Management (Bermuda) which invests in high-growth small and medium-sized companies in Asia has increased its stake in Sesdaq-listed Advanced Holdings. The fund increased its stake last Thursday by buying 2.6
      103 words
    • 90 6  -  Compiled by MICHELLE QUAH ELI Manasseh Benjamin has picked up more shares in the family's business. He bought 250,000 FJ Benjamin shares yesterday on the open market at an average $0,466 a share. He now owns 23.5 million shares in the fashion retailer an
      90 words
    • 295 6 Micro-Mechanics ■Feb 14 close: 47 cents KIM ENG SECURITIES, Feb 13 SALES grew 14 per cent year-on-year to $15.4 million, higher than our projection of $14.9 million, driven largely by the recovery of the semiconductor industry and the inroads made by its China operations. Net profit grew 29 per
      295 words
    • 398 6  -  STOCKS R SIVANITHY Senior Correspondent A TURNAROUND in Japan and Hong Kong yesterday helped the Straits Times Index rise 11.48 points to 2,440.98 in a largely mixed-to-weak session that saw mainly penny stocks and second liners in play and several examples of "buy in anticipation,
      398 words
    • 285 6  -  CHART POINT By YEO KEE YAN chartist at Kelive Research THE benchmark Straits Times Index moved within a narrow 25-point band from 2,420 to 2,445 over the past week as gains in Singapore Telecommunications and Singapore Airlines offset lethargy in bank stocks.
      285 words

  • Page 7 Advertisements
    • 332 7 Initial Public Offering UNZA understands the Asian consumer and has m*h&. "zM WiKStte ,c» Miiniji j 1 tiint- <"'• s i -i ififiiSte y*J'w*% %&'< »n* 'V -v. ®r i $\:i f b\ vE rm§m «*»i) 4) hcn^konc j B J HOCHIMINH Hhb. r 4) S'N> j APQ I «AKARTA
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  • Page 8 Advertisements
    • 299 8 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF UNICHAIN TRADING PTE LTD CO. REG. NO. *****5313W (MEMBERS' VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the abovenamed Company held at 1 Stadium Walk, Level 2 Kallang Theatre Building, Singapore ***** 8 on 8 February
      299 words
    • 516 8 [*AT3 NOTICES Toll free: 1800-289-8822 Email notices^sphcomsg IN THE MATTER OF THE COMPANIES ACT (CAP. 50, 1994 ED) AND IN THE MATTER OF ÜBS GLOBAL ASSET MANAGEMENT (SINGAPORE) HOLDINGS PTE LTD (In Members' Voluntary Liquidation) (Company Registration No. *****5824H) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to
      516 words

  • SINGAPORE NEWS
    • 454 9  -  Westpeak owners seek $240m for 312,000 sq ft plot By KALPANA RASHIWALA A HUGE freehold residential site will come on the market soon in the form of the collective sale of Westpeak Condominium along West Coast Walk. Its majority owners have
      454 words
    • 381 9  -  By SIOW LI SEN THE normally low-profile Lam Soon group has been expanding its operations in the region, with sales last year reaching $1 billion, and its next move may take place outside Asia. This month, Lam Soon best known for
      381 words
    • 710 9  -  YESTERDAY IN PARLIAMENT Report by mid-year on developing S'pore's place as IT hub, boost trust Reports by DANIEL BUENAS THE government has set up an inter-ministry subcommittee to review Singapore's data protection regime, in a move to help develop the island's position as an
      710 words
    • 449 9 THE Ministry of Finance has responded to concerns raised in Parliament yesterday over Temasek Holdings' total shareholder return, saying that comparisons between the Singapore investment company's returns and the Straits Times Index do not provide a "complete picture" of performance. The ministry said it
      449 words
    • 350 9 But higher costs are eroding margins, competitiveness THE business outlook for 2006 is bright, but rising costs over the past year are eating into margins and competitiveness, according to members of the Singapore Chinese Chamber of Commerce Industry (SCCCI). More than 80 per cent
      350 words
    • 558 10  -  Law to be amended to control who owns and runs transmission grid By RONNIE LIM SINGAPORE will strengthen "regulatory oversight" of its liberalised electricity, market, including control over who owns and runs the island's transmission grid. The move comes ahead of the sale by
      558 words
    • 268 10 Part of its efforts to inform public and demystify judicial process AS part of its efforts to engage the public in the judicial system, the Subordinate Courts website will be carrying informative and educational articles and stories on court matters. Highlights on courts matters, such
      268 words
    • 238 10 SINGAPORE and Brunei Darussalam yesterday signed their first govern-ment-to-government memorandum of understanding (MOU) on cooperation in education. The MOU was signed by Minister for Education Tharman Shanmugaratnam and Brunei's Minister of Education Pehin Abdul Rahman Taib. The Brunei minister is on a three-day visit to
      238 words
    • 6125 10 UNIT TRUSTS FUNDS AW Amro Asset Mgt {S'pora) Star Europe Eqtyl" 0-889* Star Europe Bond 1-16# Star Europe Bal 1-144/ Star Aaan Tiger Eqty 1-153/ Star Asia Bond 1-308/ Star Asia Balanced 1-068/ Star Global Technology Fundi" 0.208/ MultiStFd 1-053/ St* Asia BoreXUSD) 0.804/ Gl) Mufti St USD 1-133/ Asia
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  • Page 9 Advertisements
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  • Page 10 Advertisements
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  • ECONOMY WATCH
    • 536 11 EU will impose trade sanctions in 3 months if breaks are not abolished NYT [BRUSSELS] The World Trade Organization (WTO) ruled on Monday that tax breaks the United States gives to some of its largest companies are illegal, and the European Union said
      NYT; AFP  -  536 words
    • 409 11 AFP [KUALA LUMPUR] Malaysia expects to post strong trade growth in 2006 on the back of a robust world economy despite an appreciation of the local currency, the ringgit, a senior trade minister said yesterday. International Trade and Industry Minister Rafidah Aziz
      AFP  -  409 words
    • 819 11 Observers expect bigger role for open debate Bloomberg [WASHINGTON] Alan Greenspan dominated the Federal Reserve with the strength of his reputation. Ben Bernanke, his successor as chairman, will win votes on the strength of his analysis. Power and influence are being redefined on the Fed's
      Bloomberg  -  819 words
    • 129 11 Bloomberg [SHANGHAI] China will create fewer than half the 25 million jobs needed this year to absorb the increase in new and fired workers, the National Development and Reform Commission said. The country will be able to create 11 million jobs, leaving
      Bloomberg  -  129 words
    • 419 11  -  By AL LABITA in Manila FOREIGN credit rating agencies and investment banks have turned upbeat on the Philippine economy, shrugging off as "a mere noise" the political squabbles plaguing President Gloria Arroyo's government. In their latest assessments, Fitch and Standard Poor's (S&P) upgraded their
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  • Page 11 Advertisements
    • 342 11 R| Make explosive profits... I even while on vacation "After only 3 months trading I was profiting nicely and enjoying the experience. Then I went on a short holiday leaving my positions according to plan. When I 1 returned, one position alone had achieved 450% return! My holiday was paid
      342 words

  • MALAYSIA/INDONESIA
    • 518 12  -  Meanwhile, total trade set to top RM1t, after nearing RM968b last year By PAULINE NG in Kuala Lumpur MALAYSIA'S Minister of International Trade Industry Rafidah Aziz yesterday sought to play down new controversial proposals to boost bumiputra participation in the services sector, saying they
      FILE PHOTO  -  518 words
    • 677 12  -  SBB board rejects BCB offer as inadequate By S JAYASANKARAN in Kuala Lumpur AN alternative suitor is being quietly lined up in case Bumiputra-Commerce Holdings (BCB) fails in its attempt to take over Malaysia's Southern Bank (SBB). SBB's chief executive, Tan Teong Hean, was
      677 words
    • 2435 12 VOL Ftb 14 Kim »I- rOOO) ASM Realty 1.41 unch 0 Abric .0.34 unch 93 ACP Industries .0.69 unch 473 Advance Synergy 026 -0-02 487 Adventa 029 unch 907 AE Multi 0.46 -0.02 480 AffinHldgs 1.61 -008 945 Ahmad Zaki Res 1.27 0.01 5 AIC Corp 1 -12
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    • 195 12 AFP [KUALA LUMPUR] Saudi Arabia's A 1 Rajhi Bank, formerly known as A 1 Rajhi Banking and Investment Corp, plans to open 50 branches in Malaysia within five years, a report said yesterday. The first branch in Malaysia will open in the
      AFP  -  195 words
    • 295 12 [JAKARTA] The ongoing investigations into a number of top executives at stateowned enterprises (SOEs) for their alleged roles in corruption cases have affected the performance of the SOEs, as other officials are now afraid to make corporate decisions for fear of being
      295 words
    • BRIEFLY ASIA
      • 69 12 Bloomberg [SHANGHAI] HSBC Holdings pic, Europe's biggest bank by market value, declined to comment on a report it may team with another two financial companies to buy a stake in a large Chinese brokerage. Earlier yesterday, the China Business News reported that HSBC, Bank of
        Bloomberg  -  69 words
      • 79 12 Reuters [SHANGHAI] US investment bank Morgan Stanley is in initial talks to buy a large stake in troubled mid-sized Chinese broker AJ Securities, sources close to the situation told Reuters yesterday. The Wall Street firm was seeking at least a 20 per cent stake
        Reuters  -  79 words
      • 108 12 Reuters [BEIJING] China responded yesterday to US demands for a stronger yuan to reduce its trade surplus by saying market forces were already driving the currency and warning Washington not to make political capital out of the issue. Cheng Siwei, an influential law-maker and
        Reuters  -  108 words
      • 85 12 Reuters [HONG KONG] British hedge fund The Children's Investment Fund (TCI) has bought more than 8 per cent of Chinese port investor PVI Corp from investment holding firm ITC Corp, PYI said yesterday. The UK fund, which has a reputation for challenging
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      • 62 12 Reuters B [TAIPEI] United Microelectronics Corp (UMC), the world's second-largest contract maker of microchips, reported its quarterly profit more than doubled, beating expectations, fuelled by strong demand in the year-end shopping season. UMC earned a net profit of NT53.044 billion (Ssl 53.6 million) for the
        Reuters  -  62 words
      • 63 12 Reuters [TAIPEI] Mega Financial, Taiwan's second-largest financial holding firm, said yesterday that smaller rival Chinatrust had bought about 3 per cent of the company, and hinted the government could lose management control over the firm. Chinatrust Financial Holding Co, Taiwan's sixth-largest, continued to buy shares
        Reuters  -  63 words
      • 104 12 Reuters [SHANGHAI] China's central bank yesterday continued mopping up excess liquidity from the banking system after the holiday break, and could step up the efforts as it faces increasing redemption pressure this year, traders said. The People's Bank of China issued a single-day record of
        Reuters  -  104 words

  • GREATER CHINA
    • 565 13 Payments to the state can improve corporate governance [BEIJING] The central government is planning to force large state-owned enterprises (SOEs) to pay dividends to the state after companies overseen by State-owned Assets Supervision and Administration Commission (Sasac) posted more than 600 billion yuan (S$
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    • 321 13 Reuters [SHANGHAI] China may ease requirements for foreign investment in its stock and bond markets as early as April, seeking to bring more capital into the nascent sectors, the official China Securities Journal said yesterday. Fund managers and insurance companies applying under the
      Reuters  -  321 words
    • 412 13 Reuters [BEIJING] Limits on foreign stakes in domestic banks will lose much of their meaning after 2006, when the country prises open its banking sector to overseas competitors, a central bank vice-governor said yesterday. Many foreign banks eager to take a gamble on
      Reuters  -  412 words
    • 340 13 [HONG KONG] The Securities and Futures Commission said it will review stock settlement arrangements for short-selling and rules related to voting rights on privatisation deals,amid concerns that hedge funds may take advantage of the current regime for quick profits, The Standard
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    • 95 13 [BElJlNG]Starbucks chairman Howard Schultz drinking coffee with young students at a press conference in the Great Hall of the People here yesterday. Mr Schultz forecast that the US chain's earnings per share would rise as much as a quarter annually in the next three to five
      BLOOMBERG  -  95 words
    • 443 13 Bloomberg [SHANGHAI! Citigroup. HSBC Holdings and other foreign banks more than doubled their China profits in the past five years as the nation deregulated its US$4.7 trillion banking industry, central bank vicegovernor Wu Xiaoling said. Overseas lenders earned a combined US$446 million last year, from
      Bloomberg; BLOOMBERG  -  443 words
    • 405 13 [HONG KONG] Listing candidate Nine Dragons Paper (Holdings) has introduced Cheng Yu-tung, Malaysia's Robert Kuok and Lee Shau-kee as its substantial shareholders to back Hong Kong's largest initial public offering so far this year, the South China Morning Post reported yesterday. According
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  • Page 13 Advertisements
    • 29 13 Want the best deal? ig® Invite tenders. Call 1800 289 8822 or email notices@sph.eom.sg to book your tender notice in our newspapers now. KAT3 W f NOTICES a 3
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  • INDIA
    • 997 14  -  COMMENTARY Indian companies are making billion-dollar forays abroad in a bid to become global institutions By ANAND GIRIDHARADAS IHT Europeans shocked by Mittal Steel's U5522.7 billion hostile bid for Arcelor were comforted by one hope: it would be an -isolated case, not an omen of a
      IHT  -  997 words
    • 355 14 AFP [NEW DELHI] The Indian government has taken umbrage at Europe's hostile reaction to Mittal Steel's takeover bid for rival Arcelor and is considering punitive action against Luxembourg, says a report yesterday. On its front page, The Times of India says that New Delhi
      AFP  -  355 words
    • 607 14 Private bank raises rate by 50 basis points to 11.75% Bloomberg [MUMBAI] ICICI Bank Ltd became the first major Indian lender to boost its corporate loan rate after the central bank's latest monetary policy signalled an increase in credit
      Bloomberg; BLOOMBERG FILE PHOTO  -  607 words
    • 301 14 [MUMBAI] A leading German securities trading firm is setting up three India-dedicated funds, which together will have a funds base of about 90 million euros (*****.8 million), says a report in The Business Standard. Baader Wertpapierhandelsbank AG plans to set up an
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    • 205 14 Bloomberg [MUMBAI] State-run Indian Overseas Bank said its board has approved a plan to spend 1.7 billion rupees (5559.5 million) to buy out the six other stakeholders in Bharat Overseas Bank. Indian Overseas Bank will offer 155 rupees a share for
      Bloomberg  -  205 words
  • Page 14 Advertisements
    • 73 14 NOBILITY INTERNATIONAL PTE LTD Company Registration No. *****6547H (In Members' Voluntary Winding-Up) NOTICE IS HEREBY GIVEN that the Final Meeting of the abovenamed company will be held at 10 Jalan Besar, #10-03 Sim Lim Tower, Singapore *****7 on 15 March 2006 at 9.30 a.m. for the purposes set out in
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  • ASIA-PACIFIC/WORLD
    • 650 15 Senators want court to inquire into potential conflict of interest By OUR CORRESPONDENT in Bangkok THAILAND'S Constitutional Court yesterday accepted a petition from a group of senators seeking an inquiry into potential conflict of interest in the sale by the family of
      REUTERS  -  650 words
    • 392 15 Reuters [NEW YORK] Alan Greenspan is in talks with major publishers about writing a memoir and bidding for the cryptic former central banker's book had already hit US$5 million, sources said on Monday. Mr Greenspan is represented by Washingtonbased lawyer Robert Barnett, who negotiated
      Reuters  -  392 words
    • 377 15 LATEST US DATA AP [WASHINGTON] Consumers, lured to the shopping malls by unusually warm weather in January and eager to spend their Christmas gift cards, boosted retail sales outside of automobiles by the largest amount in more than six years, the government reported yesterday.
      AP  -  377 words
    • 412 15 Bloomberg [NEW YORK] Microsoft Corp, whose MSN Internet search service is losing market share, bought Motionßridge to add mobilephone Internet search in a bid to match Google Inc. Terms of the deal were not disclosed. Paris-based Motionßridge provides its search service tailored for the
      Bloomberg  -  412 words
    • 471 15 It will be largest CDMA phone maker alongside Samsung Reuters [TOKYO] Nokia and Sanyo Electric Co plan to form a global mobile phone joint venture, which would become the world's largest CDMA mobile phone maker alongside South Korea's Samsung Electronics. The venture will
      Reuters  -  471 words
    • 274 15 IHT [BARCELONA] European and Asian mobile phone operators, in a bold but risky move to bolster sales of data services, on Monday announced a plan to introduce worldwide "instant messaging" via cellphone. The messages would be an advance on the simple text exchanges that cellphone
      IHT  -  274 words
    • WORLD WATCH
      • 99 15 Bloomberg [BASLE] A Bank for International Settlements working group is to assess how banks and financial firms process transactions in the US$27O trillion derivatives market as the industry works to clear a backlog of unsigned deals. The Federal Reserve and the Bank
        Bloomberg  -  99 words
      • 68 15 Bloomberg [TOKYO] Toshiba Corp is being investigated for providing false information on equipment supplied to Tokyo Electric Power. Japan's Ministry of Economy Trade and Industry searched Toshiba's Yokohama offices after it received a report there may be false measurements of water flow
        Bloomberg  -  68 words
      • 114 15 AFP [SEOUL] British fund Hermes Investment Management will stand trial over alleged stock price manipulation, in the first such case of a foreign investor operating in South Korea. The Seoul District Court said the case was remitted to' a formal
        AFP  -  114 words
      • 84 15 [LONDON] BP has announced plans for a revolutionary hydrogen-fuelled power plant in California costing US$l billion, The Guardian reported. The facility will be able to generate electricity with almost no carbon emissions by converting the waste product of oil refineries into hydrogen and
        84 words
      • 102 15 AP [ZURICH] Banking giant ÜBS AG yesterday said its fourth quarter net profit more than tripled to 6.49 billion Swiss francs (SsB billion), thanks in part to a sale of assets to Julius Baer Holding. ÜBS said it was increasing
        AP  -  102 words

  • AVIATION
    • 441 16 Record 138 million passengers last year, 15% up on '04 with cargo up 14% Bloomberg [BEIJING] China's seven state-owned airlines, which flew record numbers of passengers and cargo last year, earned 10 billion yuan (Ss2 billion) in combined profit in the
      Bloomberg; BLOOMBERG  -  441 words
    • 259 16 Reuters [SEOUL] Korean Air Co, the world's top air cargo carrier based on 2004 data, said on Monday that it was looking for new business partners in the growing Chinese market after protracted talks to take over China's Okay Airways. South
      Reuters  -  259 words
    • 331 16 Xinhua [BEIJING] Air China, the flagship Chinese carrier, and Connexion by Boeing, a business unit of the Boeing Company, announced a preliminary agreement to provide real-time, high-speed connectivity to passengers travelling to and from China. The announcement in Beijing
      Xinhua  -  331 words
    • 271 16 AP [SHANGHAI] China's first private airline, Okay Airways, believes it is close to reaching agreement with Korean Air Co on selling a stake of up to 49 per cent, a state-run newspaper reported yesterday. Money-losing Okay, which leases its sole
      AP  -  271 words
    • 640 16 Bloomberg [TORONTO] ACE Aviation Holdings Inc, owner of Air Canada, the country's largest airline, had a bigger net loss in the fourth quarter than analysts expected because of rising costs for fuel and labour, prompting the company to cut 600 jobs. The loss
      Bloomberg; BLOOMBERG  -  640 words
    • 931 16 city wan it* won hp —ggj to m Ah»tdib»d S&UT0615 BSBSSi Iffi 581 l §5IS W, ill ill I2.Z-HH ■indung hM 1140 MZ901 1245 ■J Mm A***** 1910 ACTg-gg C^ TOW &ST588 T9T5 JH Ip| mm mm SS5 d 31 ii aaas s wjjgg Colombo S0469
      931 words
  • Page 16 Miscellaneous
    • 231 16 CRYPTIC CROSSWORD Funny number? (8,3) Hb" HH" mongers (9) Remove the from this sporting Strange patterns 26 Daisy kind to look at —LJ—LJ——LHJ~~hh BB" hB" 1 Did he love to swim? Just the opposite! (7) 2 Wise man supports university 16 Feeling weak, but the tide is Across: 1 Precious
      231 words

  • SHIPPING
    • 902 17 President Bush not blocking DP World's US$6.8b purchase of P&O AP [WASHINGTON] US lawmakers and others have raised concerns that Dubai's DP World is poised to take over significant operations at six American ports with its purchase of the United Kingdom's Peninsular
      AP; FILE PHOTO  -  902 words
    • 1014 17  -  STRAIT TALK By DAVID HUGHES LAST week this column was focused on the Bed Sea ferry disaster, for obvious reasons. In theory the safety regime for larger ferries is such that they should not be a major concern. What happened to the Al Salam Boccaccio 98
      1,014 words
    • 275 17 SGX '000 Fafc 14 St *h Vol CHOthhor* 0.01 605 Chuan Hup .0.39 -0.01 1989 CoscoCorooratian U6 -0.04 ***** CWT Distribution .0.94 unch 169 EzraHldgs .2.15 0.06 505 J0J06 -0.01 4217 Grand Banks Yacht Ml -0.02 30 Java Holdings 1.31 0.02 3006 »!7 Ventura!:.. A38 0.01 ***** Keppd
      275 words
    • 367 17 Bloomberg [TAIPEI] Evergreen Marine Corp, China Shipping Container Lines Co and other Asian shipping lines had their stock ratings and earnings estimates cut by Morgan Stanley, which cited a decline in cargo rates. The broker lowered its recommendations on Evergreen Marine, Yang Ming
      Bloomberg  -  367 words
    • 148 17 Bloomberg [SHANGHAI] Shanghai Zhenhua Port Machinery Co, the world's biggest maker of container cranes, said it won an order worth about US$2OO million from the Dubai Port Authority, which operates the largest port in the United Arab Emirates. The cranes will be delivered by the end
      Bloomberg  -  148 words
    • 128 17 Bloomberg [AMSTERDAM] Rotterdam Port, the world's second largest, and Royal Vopak NV, the world's largest oil and chemicals tank-storage company, began building Rotterdam port's largest jetty, to keep pace with rising oil volumes. Rotterdam and Vopak began work on the 653-metre jetty at
      Bloomberg  -  128 words
  • Page 17 Advertisements
    • 30 17 22-24 Mar 2006 Singapore Expo maritime www.apmaritime.com J"-— ■nnniiniinnsßn H International Ship Classification INTEGRmrSERVIC^UAUTY Keeping you ISClass lat the forefront rjto~; ifrijiß of maritime safety, security and IfIMgSSB environmental protection
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  • EDITORIAL & OPINION
    • 526 18 EDITORIAL AFTER two straight years of good economic growth and *"a third on the cards. Singaporeans can look forward to a benign Budget this year. The likelihood of a decent dose of largesse has also been strongly hinted at by Prime Minister Lee Hsien Loong
      526 words
    • 1745 18  -  Reasons for opposition to biotech crops include health concerns and consumer resistance By ANDREW POLLACK NYT AT THE dawn of the era of genetically engineered crops, scientists were envisioning all sorts of healthier and tastier foods, including cancer-fighting tomatoes, rot-resistant fruits, potatoes that would
      NYT; BLOOMBERG  -  1,745 words
    • 752 18  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent HOPEFULLY, there will soon be an end to this crisis. Manifestations of Muslim rage over the publication of caricatures of the Prophet Mohammed will die down and European politicians and commentators will start worrying about the
      752 words
    • 1863 19  -  About 80% of workers are only moderately engaged. Left alone, they could negatively impact morale and productivity. By B H TAN ONE of the key challenges that keep many CEOs and heads of public institutions awake at night is how they can better engage their people
      FILE PHOTO  -  1,863 words
    • 180 19  -  LETTERS TO THE EDITOR Narayana Narayana Singapore IN the letter "CPF investment limit is prudent" (BT, Feb 8), the CPF Board agrees with Nah Wee Kee that "most CPFIS direct investments in equities have not exceeded the CPF interest rates". If the scheme is so
      180 words
    • 117 19  -  Peter Heng Director Corporate Communications Singapore Telecommunications WE refer to the letter, "Star Hub to defend the claim for damages strongly" (BT, Feb 14). We do not believe that the media is the appropriate forum for these issues to be canvassed. While SCV may hold
      117 words
    • 867 19  -  G PANICKER FOR the global energy industry, this February is perhaps portentous. That Opec oil producers left their production quotas unchanged was not particularly important; it was that, despite political and religious provocations, the group did not signal its extreme displeasure or non-cooperation.
      AP  -  867 words


  • 9331 20 SGX MAINBOARD Transaction date: Feb 14 mm m-mmwmm 52-Wk Tel last Vol Day LaftQaota GrtHv Mv GrVM NM MCap High Low Cod* Company Sate +<- COOP) Wati Law »nyr S«Mr Cvr W 6.5 2 5716 1st Software 5c .2.5 unch 720 2.5 2.5 2.5 3 10.1 20 6
    9,331 words
  • Page 20 Advertisements
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  • 6056 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy yr dy %yr dy Syr feb 13 jndw Change Change Change Change Owing# Change Work) Index Preliminary 988.4 -0.2 1.9 -0.1 03 -03 2.4 < EAfE Preliminary 998.7 -03 2.6 -0.2 1.4 -03 3.5 Europe
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  • Page 22 Advertisements
    • 998 22 NYK GROUP SOUTH ASIA PTE LTD jpf, fMT (dK?) TP JS Ml LINE Fax:6292 2856(Regionalsales)/*****109(0P5)/*****785(Documentation) W NIPPON YUSEN KAISHA TOKYO KM>AXU KASHA. ITO (C/R NO: **********0E) UK COMTIMEMT SERVICE U.S.A SERVICE Destination Destination C BRAVE ATW/RTM/BMN/TLB/NAN HANJIN BOMBAY /CAW ERIKOUSA RDM/ATW/BMNALB/NAN JOHN F 9i^bSiffSHSSf HANJIN HOUSTON VCB/VCW/LAX/MZL Loads Singapore, E./W.
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  • Page 23 Advertisements
    • 1370 23 WAN HAI INTBtNATIONAL PTE LTD a NO; 14«*****000T TIL *****588 (14UWS) F«:6224U63 WXWAN HAI LINES sssssasssasa^ 1 JOHIH;(O7)2SIWnFAI(O7)2SIW2I Ml TIL 1031) WM7S FWfc (031) JW7714/1W1305 w.«k.i jmfcwnaMWßßUßDSßoiiwimnuM/nttuwtntw 1 WWW.WlHWBI.toni.tg »IH;|OtI)4IS7I>3H>»:|DH)4ISW2S/4miW wu at wo an m m M—M_ _J3S| J«£__J2LHAI 237 H073 21AB \MI HMI 25/DJ OAB TM-OZJJ3 03/03 MO 07/K3
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    • 1172 23 KSSa VOY SHMpn HKG KHH INC M PUS VESSEL VOY «N JKT SUB HKG USH PUS HYwiDGE m"m ii/? mm vn 1/3 1/3 kmtcsincatok to?s m tin m m 4/3 5/3 HY VLADIVOSTOK 172S 23/2 W 2/3 4/3 4/3 1/3 1/3 KMTC JAKARTA 603S 26/2 1/3 2/3 7/3 11/3 12/3
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    • 838 23 ■3(325& WEEKLY EXPRESS SAILING SCHEDULE and western icq points! VESSEL 1 VOT 1 SIN FJ<IAMC| COLOMBO IN. SWVA I COLOMBO 1 ALSO KCBTMG FCL TO COCHIN, TUTKOWH (VIA COLOMBO) UNDU I GOAI rvu N SHIVA) CONNECTMG MOTHBt VSIS TO EUROPE (FHIXSTOWI, ROTTERDAM,! HAMBURG) AMD EAST COAST US* (NEW TOO, NORTHFOUII
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  • Page 24 Advertisements
    • 1036 24 Nordana (Asia) Pie Ltd 70 SHurtoii Way, 121-03 Marino How Shfifurt *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS PATB mm DATB VESSEL VOY ISh-nw PoshGho—itW Cotos \*mi CWfafot Iriwd Mrt Pwfc&rf— blond Express 1E602 20Fab 21_Feb 02Mor jUtor WMor X 22Mor Island Express 1E603 23
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 8137 25 This ETA ETA Advertber Vessel Voyage Telephone SIN Desfn Name Name Number Number To ABIDJAN (ABJ) 2003 Cote D'lvoire 23/02 25/03 Delmas ELISA DELMAS 613W *****344 23/02 04/04 China Shpg PERTH BRI0GE 100A *****898 27/02 04/04 China Shpg CMACGM FORCE SX215W *****898 02/03 04/04
      8,137 words

  • MOTORING
    • 478 26  -  It aims to break into the top 5 best-seller list in S'pore within four years, reports SAMUEL EE SAMUEL EE CHEVROLET will introduce three new models through two dealerships this year, as it aims to become a mainstream brand and break into
      478 words
    • 598 26  -  BMW reports Asia sales in morning, Merc Centre opens in evening By SAMUEL EE THERE may be 365 days in a year but traditional rivals Mercedes-Benz and BMW have managed to pick the very same one for their most important events here
      YENMENG JIIN  -  598 words
  • Page 26 Advertisements
    • 89 26 To apply, ca*****6 0980 WtßKm Privileges PrlterncUional" mB I I'M If 1M B 111 *111 tntntn/jincrs.cnm.sa MJ|ltjl Hf| Eau La La presents to you the finest and MU Ua Ua sSVttlff Iml authentic taste of the Mediterranean iv/t/i an imaginative menu mixes vivid ne.tyi. p.rty f.mur.nt- c«.r,n fl Gnek Moroccan,
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    • 12 26 a ':£l '"Jr »SF I 4- V''" jf,* ,7,, >*" m .7 i
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    • 8 26 I— eg ln^ ■Hi BBl mm fit SHk
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  • executive Money
    • 1026 27  -  It is the best yielding asset class for more than 100 years, the bear market of 2000 notwithstanding, writes GENEVIEVE CUA GENEVIEVE CUA INVESTORS saving for the long term should keep faith with equities. Even with the vicious bear market of 2000, it remains
      Source: Global Investment Returns Yearbook 2006  -  1,026 words
    • 635 27  -  Asian investments doubled since 2003 to US$500m By GENEVIEVE CUA COULD a bubble be building in commodities markets? Or, in emerging market debt? No matter: Hedge fund manager Everest Capital aims to profit anyway by going long in one market and short the other. With
      635 words
    • 926 27  -  INVESTING WITH A DIFFERENCE R SIVANITHY discusses this important component of total costs R SIVANITHY WE'VE explained how contracts for differences (CFDs) differ from traditional share investing and discussed margin trading in past articles in this series. This week, we'll look more closely
      926 words
    • 353 27  -  Global hedge funds 2006 By Chua Boon Lee AFTER lagging historical averages in 2005, global hedge funds were off to a good start in January gaining 2.01 per cent, as measured by the S&P Hedge Fund Index.Leading the charge into 2006 were equity managers, returning
      353 words
    • 979 28  -  MONEY MATTERS Gone are the days when you could retire on selling a property for 10 times what you paid for it PHILIP LOH THE Singaporean love affair with property is legendary. The widespread view is that property represents the most solid way to preserve
      979 words
    • 1063 28  -  DAVID SANDISON and DAVID RICHARDSON of PwC try to take a humorous look at the pension scene in Singapore and find it's no laughing matter DAVID SANDISON DAVID RICHARDSON IT is good to have a sense of humour. Without it, some of the stark realities of life
      1,063 words
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