The Business Times, 17 April 2010
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2010-04-17
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The Business Times
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Title Section13 2010-04-17 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg APRIL 17- 18, 2010 S$1.00 MICA (P) 124/08/200913 words
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987 2010-04-17 1 Joyce Hooi - Class of 2009 ditches starter jobs as economy picks up By Joyce Hooi joyceh@sph.com.sg Singapore AS the economy emerges from the debris of the financial crisis and banks ramp up hiring, the Class of 2009 has been redefining the concept of job-hop-ping. A987 words
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Article, Illustration1043 2010-04-17 1 Uma Shankari - Flights between S’pore and Europe called off; cloud menace may linger By Uma Shankari shankari@sph.com.sg Singapore SINGAPORE Airlines, Cathay Pacific and at least 10 other airlines in the Asia-Pacific region cancelled and delayed flights as a cloud of volcanic ash shut dozens ofBLOOMBERG - 1,043 words
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Page 1 Advertisements
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Advertisement127 2010-04-17 1 www.businesstimes.com.sg APRIL 17 18, GADGETS Form versus function L14 cpf restoration Employers warn of risks RISING wages amid a longer-term trend of productivity decline could hurt companies’ cost competitiveness and derail business recovery, says SNEF. 2 export surprise Surge sparks GDP rethink WITH non-oil domestic exports hitting a new cycle-high127 words
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Advertisement31 2010-04-17 1 PERSPECTIVE The customer is not always right 29 AGM WATCH OCBC hiring private bankers 12 LIVING Th ree f i ne-d i n i ng restau rants now serving on yachts31 words
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TOP STORIES
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573 2010-04-17 2 Teh Shi Ning - SNEF points to flagging productivity and rising costs, and urges caution by govt By Teh Shi Ning tshining@sph.com.sg Singapore THE national employers’ federation yesterday urged the government to be cautious in its response to the labour movement’s call to companies to partially restore the573 words
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Article, Illustration338 2010-04-17 2 AP Manchester, England LIVERPOOL’s American owners confirmed yesterday they want to sell the debt-ridden Premier League club after three troubled years in charge. Co-owners Tom Hicks and George Gillett Jr have hired Barclays Capital to advise on the sale and announced that BritishAP; REUTERS - 338 words
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Article137 2010-04-17 2 STI 3,007.19 (-9.75) STI FUTURES 2,991.00 (-7.00) SIMSCI 358.55 (-1.30) SIMSCI FUTURES 356.00 (-1.40) STOCKS Friday Change KL COMP 1,332.77 -6.06 NIKKEI 225 11,102.18 -171.61 HANG SENG 21,865.26 -292.56 SET 736.16 -24.74 JAKARTA 2,878.67 -21.86 MANILA 3,265.54 -13.30 KOSPI 1,734.49 -9.42 SHENZHEN B 642.39 -0.94 MUMBAI IND 17,591.18 -48.08137 words
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Article, Illustration591 2010-04-17 3 Chuang Peck Ming - 26.6% NODX jump means that even the upbeat GDP forecast can be crossed By Chuang Peck Ming peckming@sph.com.sg Singapore YEAR-ON-YEAR growth of nonoil domestic exports (NODX) in March exceeded all expectations to hit a new cycle-high of 26.6 per cent, up from 23 perSource: IE Singapore - 591 words
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458 2010-04-17 3 Lee U-Wen - By Lee U-Wen leeuwen@sph.com.sg Singapore THAILAND’S Prime Minister Abhisit Vejjajiva last night made Thailand’s military commander the head of national security. Army chief General Anupong Paochinda will replace Deputy Prime Minister Suthep Thaugsuban, Mr Abhisit said in a televised address. “A458 words
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Article, Illustration564 2010-04-17 4 Chew Xiang - In a Chicago TV talk show, he defends S’pore’s policies and rebuts suggestions of nepotism By Chew Xiang xchew@sph.com.sg Chicago ASIA will continue to grow for decades to come barring conflicts or war but the region faces inherent instability which theLIANHE ZAOBAO - 564 words
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536 2010-04-17 4 Michelle Quah - Strong governance, transparency vital for the long term: forum By Michelle Quah michquah@sph.com.sg Singapore FAR from being a tired topic, corporate governance was a keenly discussed one at the CPA Forum 2010 yesterday. Organised by CPA Australia, speakers addressing the 280-strong crowd agreed that536 words
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887 2010-04-17 5 Joyce Hooi - In a job market that is seeing an increase in job-hopping among the younger workforce overall, retail and sales positions bear the brunt of employees’ flightiness By Joyce Hooi joyceh@sph.com.sg Singapore EMPLOYERS are finding out the hard way that the fresh-faced salespeople that they887 words
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434 2010-04-17 6 S Jayasankaran - He dismisses claim that last week’s meeting between Najib and Obama was necessary to repair bilateral ties soured during his term By S Jayasankaran btworld@sph.com.sg Kuala Lumpur FORMER prime minister Mahathir Mohamad got into the controversy over international public relations firm Apco434 words
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Page 2 Advertisements
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Advertisement117 2010-04-17 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 10-13 From The Desk Of 14 Singapore 15-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-33 Show Me The Money 32 Househunt 34 Real Estate 35 LIVING Dining L2-3 WGS L4-6 WeekendWith L7 Design L8 Shopping117 words
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Page 3 Advertisements
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Advertisement139 2010-04-17 3 WJ s hgr_j>w WlttAJtPjA' os0^fo"wPn C ®iL More Varieties, NAore L Shaped Fabric Sofa (includes 9 cushions) 1 ■pfi crn 72 x 3 UP:$1999 NOW $899 Foldable Sofabed 3 Seater Sofa c/w Ottoman Now 3 Seater: 85 x 205 x 85cm Ottoman: 45 x 70 x 70cm UP:$799 Open: 83139 words
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Page 4 Advertisements
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Advertisement65 2010-04-17 4 smsmmm Dr 7900sqft, beautiful wide frontage, full ocean view. Cove Dr 6800sqft, mins walk to Tanjong Beach and monorail. Golf Waterway City partial seaview Quiet. Rare I Vacant. Must sell! Cove Way 7800sqft Seaview yet wtih Private Berth super rare! Motivated seller. •Treasure Island 14, OOOsqft. Posh Interior design and65 words
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Page 5 Advertisements
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Advertisement114 2010-04-17 5 TRAFFIC ARRANGEMENTS FOR CYCLONE RACE SERIES 2010 The Cyclone Race Series 2010 will be held on Sunday, 25 April 2010 from 7am to 12pm. Changi Coast Road between Tanah Merah Coast Road and Aviation Park Road will be closed from 7am to 12pm. AETOS auxiliary police officers and marshals will114 words
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Advertisement74 2010-04-17 5 frrgo autopack -co-Oia PRINT.SCAN.MANAGE A Everything you need to print a card! VALUE PACKAGE! «S\, HDP5000 single side card printer vFargo HDP 5000 single side card printer pes pvc cards x YMCK color ribbon HDP film vIDesign Lite ID Card S$4,333-50/set (price include GST) ■Promotion valid until 16 MAY 201074 words
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Page 6 Advertisements
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Advertisement27 2010-04-17 6 GCB Land Mt Echo Park Land Size 16,826 sqft Ideal for rebuild Vacant Possession Quiet ambience North/East facing Appointed Sole Agent Citiprop Pacific KC Ng 9853 100127 words
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Advertisement6 2010-04-17 6 With additional reporting by Karen Ng6 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK | April 12-16, 2010
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62 2010-04-17 7 AN impending divestment by Robert Kuok is attracting some interest in corporate circles, and may mark yet another business departure from Malaysia by the country’s wealthiest man. Involved in the latest deal is Jerneh Asia, which is listed on the Kuala Lumpur stock62 words
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47 2010-04-17 7 REAL estate agencies are gearing up for tighter rules in their industry by sending agents back to the classroom. Several are getting their agents to take accreditation tests before the government introduces a mandatory industry examination sometime this year.47 words
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44 2010-04-17 7 AMID eerie scenes in Bangkok, which included protesters parading the bodies of their slain comrades, the Thai bourse tanked. The stock exchange slumped almost 6 per cent but closed only 3.64 per cent down on Monday.44 words
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38 2010-04-17 7 MORE signs are emerging that the next COE quota will shrink even further. Land Transport Authority figures show that there was a massive rush to revalidate certificates of entitlement last month.38 words
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35 2010-04-17 7 SINGAPORE’S accountancy sector has moved a step closer to its biggest shake-up to date, as the government now mulls over 10 proposals to change the way accountants train and practise.35 words
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30 2010-04-17 7 THE government is looking into whether there was an information leak about the major changes to the pay-TV landscape before they were announced last month.30 words
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41 2010-04-17 7 THE Singapore Exchange has published a blacklist of 10 former company directors who have breached listing rules. The 10 are barred from being hired as directors of current listed companies without SGX permission.41 words
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62 2010-04-17 7 SINGAPORE Press Holdings has posted a 30.2 per cent increase in second-quarter net profit, as print ad revenue rebounded and property performed strongly. Net profit for the three months ended Feb 28, 2010, came to $113.3 million up from $87 million a62 words
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34 2010-04-17 7 EXCEPTIONAL first-quarter growth and a firmer recovery in the US and Asia have prompted the government to raise its forecast for Singapore’s 2010 GDP growth by 2.5 percentage points.34 words
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Article, Illustration23 2010-04-17 7 Most people support his call for a partial restoration of CPF contribution by employers towards the long-term target rate FILE PHOTOFILE PHOTO - 23 words
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56 2010-04-17 7 THE Monetary Authority of Singapore on Wednesday tightened its monetary policy as the economy staged a sharp rebound and inflationary concerns returned to the fore. In an unexpectedly aggressive move, MAS let the Singapore dollar strengthen by re-centring the exchange rate policy56 words
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64 2010-04-17 7 LABOUR chief Lim Swee Say has called for a partial restoration of CPF contribution by employers towards the long-term target rate. While most supported his suggestion in principle, some wondered if the timing of the restoration was right and whether it would add64 words
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36 2010-04-17 7 GOVERNMENT measures to cool the property market have not doused the enthusiasm of buyers. Developers sold 1,761 private homes in March 47 per cent more than the 1,202 in February.36 words
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29 2010-04-17 7 SINGTEL’S exemplary corporate governance practices have again earned it the top spot out of 687 companies in the Governance and Transparency Index.29 words
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47 2010-04-17 7 CHINA chalked up unexpectedly strong annual growth of 11.9 per cent in the first quarter, prompting renewed calls for tighter policies to prevent the economy from overheating and stoking speculation as to when Beijing will loosen its grip on the yuan.47 words
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NEWT WEEK | April 19-23, ’10
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Article29 2010-04-17 7 April 19 March leading indicators April 21 Crude inventories April 22 Initial job claims March existing home sales April 23 March durable orders March new home sales29 words
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Article46 2010-04-17 7 April 19 STRASBOURG ECB Vice President Lucas Papademos to present the ECB’s Annual Report 2009 April 20 SYDNEY Minutes of monetary policy meeting of Reserve Bank board April 21 LONDON Bank of England (BOE) to publish minutes of April 7-8 Monetary Policy Committee (MPC) meeting46 words
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Page 7 Miscellaneous
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Miscellaneous335 2010-04-17 7 CRYPTIC CROSSWORD SATURDAY with Ludwig Across 1 Deem rent is not right, but settles (10) 9 Girl right at all times (4) 10 Draw stumps in an evenly contested game (5,5) 11 With a new clue I’d get the mathematician (6) 12 They may be of untold value (7) 15335 words
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THE RAFFLES CONVERSATION
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Article, Illustration2495 2010-04-17 8/9 Vikram Khanna - Grauer, the successor to Michael Bloomberg at Bloomberg LP, talks about what makes the media giant tick. By Vikram Khanna By Vikram Khanna vikram@sph.com.sg PETER Grauer’s office tracks his every working hour. Literally. “Every six months, they analyse it, graph it, pie-chart it,” says this fast-taking successorYEN MENG JIIN - 2,495 words
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Page 8/9 Advertisements
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Advertisement70 2010-04-17 8/9 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.70 words
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COMPANIES
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Article, Illustration706 2010-04-17 10 Jamie Lee - It misses expectations as derivatives revenue grows just 2.2% By Jamie Lee leejamie@sph.com.sg SINGAPORE Exchange posted a 35 per cent jump in third-quarter net profit, missing analysts’ expectations as its derivatives segment saw slow revenue growth. The bourse operator is lookingFILE PHOTO - 706 words
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514 2010-04-17 10 Emilyn Yap - $800m worth units sold here in Q1 and sales are continuing By Emilyn Yap emilyny@sph.com.sg CONTRIBUTIONS from residential development projects helped lift CapitaLand’s financial results for the first quarter ended March 31, 2010. The property giant reaped a net profit of $115.4 million in514 words
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368 2010-04-17 10 Uma Shankari - By Uma Shankari shankari@sph.com.sg PROPERTY giant CapitaLand has shelled out some $39.2 million to acquire a majority stake in Hersing Corporation’s fast-growing self-storage business. Yesterday, the two companies said that they have set up a joint venture (JV) company which is 62 per cent368 words
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502 2010-04-17 11 Lynette Khoo - Money now in new account with Xiamen Int’l Bank in Shanghai By Lynette Khoo lynkhoo@sph.com.sg IN A move to dispel lingering fears that a said sum of $14 million of cash reserves may be non-existent, Sino-Environment Technology Group said yesterday that it has located502 words
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569 2010-04-17 11 Angela Tan - EGM delayed again as key shareholders back Peabody By Angela Tan angelat@sph.com SINGAPORE-LISTED Noble Group’s latest plea to Macarthur Coal quoting lyrics in a toddler’s song to proceed with a crucial shareholders meeting on April 19 clearly went unheeded. Yesterday, Macarthur succumbed569 words
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Business briefing
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45 2010-04-17 11 CHINA Milk Products Group has appointed KPMG Advisory Services as special auditors to carry out an independent review of the company and its subsidiaries. It made the appointment in consultation with SGX, which had ordered it to conduct the audit.45 words
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Article50 2010-04-17 11 FEDERAL International (2000) Ltd has secured its first batch of contracts worth US$210 million to supply coal, iron ore and manganese ore to a Singapore subsidiary of a China company. This is through Alton International Resources, unit of Federal’s wholly owned subsidiary Alton International (S).50 words
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Article43 2010-04-17 11 SINGAPORE Airport Terminal Services and Air India yesterday signed an agreement to form a single 50:50 joint venture that would serve as the vehicle to house their three existing ground and cargo handling JVs in Bangalore and Hyderabad.43 words
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29 2010-04-17 11 CHINA Fibretech warned that it will be reporting “significantly lower” revenue and pre-tax profit for the first quarter FY2010 compared to a year ago.29 words
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Article, Illustration529 2010-04-17 12 Conrad Tan - Bank’s integration with ING Asia Private Bank going well, CEO David Conner tells shareholders agm watch| By Conrad Tan conradt@sph.com.sg OCBC Bank’s private banking subsidiary, Bank of Singapore, is hiring staff from other private banks and isn’t about to lose a large number of its team,FILE PHOTO - 529 words
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Article453 2010-04-17 12 Joyce Hooi - Telco revises its earnings expectations for 2010 upwards By Joyce Hooi joyceh@sph.com.sg M1 LIMITED posted a 6 per cent year-on-year decline in net profit for the first quarter of this year, from $41.9 million to $39.3 million. Excluding a tax adjustment that had453 words
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322 2010-04-17 12 Karen Ng - By Karen Ng karenng@sph.com.sg CAPITACOMMERCIAL Trust has posted a distributable income of $54.3 million for the first quarter of 2010, up 19.7 per cent from the same period a year ago. Reflecting the resilience of its portfolio, committed occupancy rate rose to 95.1322 words
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Article, Illustration955 2010-04-17 13 R Sivanithy - stocks| R Sivanithy sivan@sph.com.sg Senior correspondent IT’S not often that we find that stockmarket trading holds few surprises, but this week presented observers with one such instance. First, an upward revision of estimated economic growth and a firm Wall Street this week combined to955 words
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Article332 2010-04-17 13 Felda Chay - By Felda Chay feldac@sph.com.sg ASIA Pacific Breweries (APB) has raised its effective interest in Indonesia’s leading brewer PT Multi Bintang Indonesia (MBI) to 80.6 per cent from 68.5 per cent. The additional 12.1 per cent stake cost the company about $63.2 million and brought its332 words
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Page 11 Advertisements
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Advertisement47 2010-04-17 11 ISO ***** Food Safety Management System Workshop Singapore International Halal Forum 2010 (SHIFT2010) FCSIAPD Technology Presentation and Award Hospitality Operations Design Conference The "Inside Out Kitchen" Workshop Asia Sommelier's Forum Food Safety Forum 20-23 April 2010 pH™! Singapore Expo www.foodnhotelasia.com Asia's LARGEST International Food Hospitality Trade Event47 words
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Advertisement45 2010-04-17 13 FHA2010 Gourmet National Team Challenges FHA2010 Culinary Challenge AHRA Cocktail Competition Asia Barista Championship WSA2010 Wine Activities WSA Wine Challenge Asian Pastry Cup and many more! Asia's LARGEST International yy Food Hospitality Trade Event FHA SOia I 20- 23 April 2010 Singapore Expo iff www.foodnhotelasia.com45 words
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FROM THE DESK OF
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Article, Illustration1030 2010-04-17 14 A data centre that is up to speed will play a big part in getting your business ready for today’s new, dynamic realities from the desk of THE recent economic realities and the unremitting call for businesses to do more with less have1,030 words
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SINGAPORE
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Article, Illustration596 2010-04-17 15 Lee U-Wen - Without it, govts will find it tough to persuade people to accept tough and painful solutions to overcome challenges By Lee U-Wen leeuwen@sph.com.sg THE recent global financial crisis was more than just an economic one. It was also a crisis of confidenceCAROLINE CHIA/THE STRAITS TIMES - 596 words
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239 2010-04-17 15 Glenn Chee - By Glenn Chee gchee@sph.com.sg A SECOND stretch of the Circle Line (CCL) with 11 stations opens today, bringing the number of operational CCL stations to 16 and cutting travelling time. The stations on the newly opened stretch are Dhoby Ghaut, Bras Basah, Esplanade, Promenade,239 words
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Article, Illustration544 2010-04-17 16 Ronnie Lim - $1.2 billion project is one of two identical-sized, world-scale biodiesel plants the Finnish group is building By Ronnie Lim ronnie@sph.com.sg FINLAND’S Neste Oil expects its $1.2 billion renewable diesel plant here, currently under construction in Tuas, to achieve mechanical completion in “summer 2010”.FILE PHOTO - 544 words
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Article, Illustration307 2010-04-17 16 Zeinab Yusuf Saiwalla - By Zeinab Yusuf Saiwalla zeinabs@sph.com.sg IF you’re a chocolate lover, visiting Hershey’s Chocolate World at Resorts World Sentosa the first such store in South-east Asia should probably be on your to-do list. For good reason, too. The two-month-old store offers, not just aJOYCE FANG/ST - 307 words
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600 2010-04-17 17 Vincent Wee - SBIA’s 10 founder members represent about 70 per cent of the industry here By Vincent Wee vincewee@sph.com.sg AFTER almost 15 years of talking, the boating industry here has finally got its act together to form an association to give itself a stronger voice. Although the600 words
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Article, Illustration178 2010-04-17 17 Arthur Lee - By Arthur Lee arthurl@sph.com.sg SHOPPERS at Raffles City had a pleasant surprise last night as 40 models played the role of “fashion-buskers”. Instead of the usual catwalk, the models strolled down escalators and mingled with the crowd to launch the Spring/Summer Fashion Campaign 2010. ItwasARTHUR LEE - 178 words
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Article, Illustration422 2010-04-17 18 Olivia Ho - Sponsored by CDL, they’re the first sculptures showcased under URA’s Marina Bay Public Art Programme By Olivia Ho oliviaho@sph.com.sg COME August, two public artworks will grace the Marina Bay waterfront promenade to mark the inaugural Youth Olympic Games (YOG). A collaboration between422 words
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390 2010-04-17 18 Karen Ng - By Karen Ng karenng@sph.com.sg SINGAPORE’S T32 Dental Centre and China’s Arrail Dental Group have formed a strategic education and training partnership. Arrail staff will train at T32’s International Dental Academy faculty at Camden Medical Centre, then use Arrail facilities in China to390 words
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Briefing
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50 2010-04-17 18 THE Skyrise Greenery Awards 2010 are now open for submissions by architects who are members of Arcasia Institutes and the International Union of Architects. Applicants should register online at www.nparks.gov.sg/skyrisegreenery by August 25. The closing date for submissions is 12 noon on Sept 1.50 words
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39 2010-04-17 18 PSB Academy has become the first private education and training institution to work with Singapore Youth Olympic Games Organising Committee. PSB will provide training and consultancy in health, risk and safety.39 words
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Page 15 Advertisements
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Advertisement157 2010-04-17 15 FHA Rata ASIAS LARGEST INTERNATIONAL FOOD HOSPITALITY TRADE EVENT Be at the most anticipated food hospitality trade event in Asia! 82,000sqm of exhibition space 2,600 exhibitors from 70 countries/regions 46 Group Pavilions Strong lineup of competitions, conferences and forums 20-23 April 2010 Singapore Expo b OPEN TO WOe VISITORS o157 words
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Page 16 Advertisements
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Advertisement388 2010-04-17 16 (Q£^ WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF YOUNG BROTHERS DEVELOPMENT (SINGAPORE) PTE LTD (In Members' Voluntary Liquidation) (Company Registration No. *****2581N) Notice is hereby given that at an Extraordinary General Meeting of the Company duly convened and held on 12388 words
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Page 17 Advertisements
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Advertisement459 2010-04-17 17 [SATO NOTICES BUY IT• SELL IT-FIND IT 8 Swing Media Technology Group Limited S M T G SWING MEDIA TECHNOLOGY GROUP LIMITED Incorporated in Bermuda (Company Registration No. *****) ADJUSTMENT TO THE EXERCISE PRICE OF THE WARRANTS OF THE COMPANY Where capitalised terms are used in this announcement and not459 words
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Page 18 Advertisements
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Advertisement7 2010-04-17 18 http://www.omy.sg m i http://Hfestyle.omy.sg/ 3D: http://cling.omy.sg/ raiftis7 words
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WORLD
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Article, Illustration719 2010-04-17 19 Poll shows most Greek disapprove of the way their govt is handling the country’s economic woes AFP AP Bloomberg Athens GREEK Prime Minister George Papandreou has signalled that Athens is preparing to request huge emergency loans from Europe and the International Monetary FundAFP; AP; Bloomberg - 719 words
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244 2010-04-17 19 latest us data Reuters AP New York US consumer sentiment took a surprise negative turn in early April due to a persistently grim outlook on income and jobs, a private survey released yesterday showed. A slip in economic expectations to its lowest inReuters; AP - 244 words
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273 2010-04-17 19 Bloomberg Washington GOLDMAN Sachs Group Inc was sued by US regulators for fraud tied to packaging and selling collateralised debt obligations (CDOs) that contributed to the worst financial crisis since the Great Depression. Goldman Sachs misstated and omitted key facts about aBloomberg - 273 words
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Article, Illustration448 2010-04-17 20 Revenue down 11%; provision for credit losses decreases by US$3.6 billion to US$9.8 billion Reuters Bloomberg Charlotte, North Carolina BANK of America Corp (BOA) reported higher-than-expected quarterly earnings yesterday as it set aside less money to cover bad loans. The largest US bank byReuters; Bloomberg; BLOOMBERG - 448 words
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377 2010-04-17 20 Launch aimed to provide investors more options Reuters Bloomberg Shanghai CHINA launched its first stock-index futures yesterday, a milestone in the development of the country’s relatively young financial markets, with initial signs of a warm welcome from investors hungry for new tradingReuters; Bloomberg - 377 words
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144 2010-04-17 20 Reuters Hong Kong SWIRE Properties, a property arm of conglomerate Swire Pacific, has received approval from the listing committee of Hong Kong’s stock exchange for a US$3 billion initial public offering, a source close to the deal said yesterday. Swire Properties comprisesReuters - 144 words
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Article, Illustration462 2010-04-17 21 BRIC countries call for more say in financial institutions such as the World Bank and the IMF Reuters Brasilia LEADING emerging powers called on Thursday for swift reform of international financial institutions to give developing countries a greater voice, saying their group was vitalReuters; AP - 462 words
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435 2010-04-17 21 Bloomberg Kuala Lumpur MALAYSIA’S Senai-Desaru Expressway plans to restructure RM1.46 billion (S$626.7 million) of syariah-compliant bonds to avoid becoming the country’s biggest Islamic-debt defaulter in more than two years. The toll-road operator may seek to reschedule repayments or refinance, CEO Mustaza SalimBloomberg - 435 words
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Article, Illustration371 2010-04-17 22 But firm’s shares tumble 5% in extended trading as results spook investors AP San Francisco GOOGLE Inc is thriving again, and feeling so good about the economythatit’sspooking investors. The company’s first-quarter earnings exceeded analyst estimates and its revenue growth accelerated for theAP - 371 words
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432 2010-04-17 22 Bloomberg Washington WASHINGTON Mutual (WaMu) chief regulator protected the bank from other government agencies and failed to act when it identified errors, risk and fraud, according to US Senate investigators. The regulator Office of Thrift Supervision (OTS) and the Federal DepositBloomberg - 432 words
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191 2010-04-17 22 Reuters Washington US President Barack Obama and his wife earned US$5.5 million last year primarily from the proceeds of his best-selling books, and they paid US$1.79 million in federal income taxes, the White House said on Thursday. The US president andReuters - 191 words
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Page 20 Advertisements
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Advertisement20 2010-04-17 20 Lianhe Zaobao Chinese airports vying to be Asia-Pacific aviation hub uS nil To subscribe, call 6388-3838 or go to sphsubscription.com.sg20 words
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Page 21 Advertisements
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Advertisement77 2010-04-17 21 We take them seriously, Seriously! Learn how to create winning marketing strategies to reach young consumers -m \z/ Ki O o •o <§> <§> n G)(® wm 25-26 May 2010, Grand Copthorne Waterfront Hotel, Singapore YOUTH MARKETING SUMMIT ASIA 2010 Discover The Next Big Idea In Your Youth Marketing 25-2677 words
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Page 22 Advertisements
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Advertisement5 2010-04-17 22 V i fjftiS® SBISI www.radio913.com5 words
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SGX
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Article9127 2010-04-17 23 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 4.5 3148 8Telecom 17cd unch 585 17.5 17 17 17.5 1.7 10.6 5.5 81.4 10 4.5 5834 A-Sonic 7.5 -0.5 248 7.5 7 7.59,127 words
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Article1895 2010-04-17 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 7 5.5 6.5 38.9 6.7 25 12 8538 t APStrategic 22.5 +2.5 151 22.5 20 20 22.51,895 words
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Article186 2010-04-17 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 8 4 0 0 0 5 8 4 Manufacturing 50 79 69 6 6 12 56 85 81 Commerce 21 24 23 2 3 5 23 27 28 Tpt/Stor/Comms 16 12 14186 words
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Article827 2010-04-17 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Apr 12 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) China Minzhong Food 15-Apr-10 OCA II Hldgs LP *Sell ***** 1.20 *****8 32.20 *****6 19.80 China Minzhong827 words
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Article122 2010-04-17 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,971 18,971 53,912 53,912 Manufacturing 415,385 178,014 593,399 233,644 6,049 239,693 Commerce 147,130 24,104 171,234 157,362 6,101 163,463 Tpt/Stor/Comms 142,741 2,308 145,049 227,711 240 227,951 Finance 30,667 5 30,672 256,732 256,732 Construction 92,155 31,854 124,009122 words
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MARKETS
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Article, Illustration92 2010-04-17 27 YTD change: +3.78% 52-week high: 3,037.97 on April 15,2010 52-week low: 1,791.45 on April 28,2009 Source: Bloomberg YTD change: -0.03% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 14,457.90 on April 28,2009 Source: Bloomberg YTD change: -4.48% 52-week high: 3,478.01 on Aug 4,2009 52-week low: 2,372.34 on AprilSource: Bloomberg - 92 words
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365 2010-04-17 27 In local curr In S$ In US$ dy yr dy yr dy yr Apr 15 Index Change Change Change Change Change Change World Index Preliminary 892.3 0.1 7.2 0.0 4.0 0.1 6.2 ‡EAFE Preliminary 833.3 0.4 6.2 0.3 1.3 0.4 3.5 Europe Preliminary 1188.7 0.4365 words
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Article154 2010-04-17 27 Apr 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2794 1.2806 0.9315 0.9317 Canadian dollar 1.3701 1.3713 0.9975 0.9977 Euro 1.8607 1.8622 1.3547 1.3548 NZ dollar 0.9774 0.9784 0.7116 0.7118 Sterling pound 2.1183 2.1202 1.5423 1.5425154 words
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Article77 2010-04-17 27 Apr 15 COCOA (£/tonne) Close Prev High/Low May 10 2125 2116 2127/2106 Jul 10 2145 2135 2148/2125 Sep 10 2116 2107 2120/2099 Dec 10 2091 2080 2093/2073 COFFEE (US$/tonne) Close Pev High/Low May 10 1348 unch 1358/1339 Jul 10 1386 unch 1394/1376 Sep 10 1417 unch 1424/1408 SUGAR (US77 words
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Article105 2010-04-17 27 Apr 15 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 10 984.00 969.00 995.00 964.25 Jul 10 993.00 977.00 994.75 972.25 Aug 10 988.75 971.75 989.50 967.50 Sep 10 969.50 954.00 971.00 949.25 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low May 10 40.07 39.86 40.10105 words
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Article56 2010-04-17 27 Apr 16 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 10 2529 2540 2547 2528 1312 ***** Jun 10 2512 2528 2533 2512 3395 ***** Jul 10 2504 2518 2525 2504 4764 ***** Aug 10 2507 251256 words
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Article75 2010-04-17 27 Apr 15 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 87.34 0.30 WTI (Near Mth) 85.47 -0.49 Dubai (1-Mth F) 84.38 0.74 Tapis blend 89.55 1.20 Minas 89.25 1.70 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 82.94 1.06 Jet Kerosene 95.60 0.80 US$/barrel Opec Oil Basket Price75 words
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Article71 2010-04-17 27 Apr 15 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2439.85 2426.25 3 months 2472.00 2462.00 Copper, Grade A (US$/tonne) Cash 7913.50 7917.00 3 months 7945.00 7950.00 Lead (US$/tonne) Cash 2315.75 2336.25 3 months 2340.00 2360.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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Article73 2010-04-17 27 Apr 16 GOLD (US$/oz) Apr 16 Apr 15 Hong Kong 1156.*****3.80 Apr 15 Apr 14 London 1159.*****7.30 1160.*****8.10 Source: Thomson Reuters Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.38 25.15 Source: UOB PLATINUM Lon (US$/oz) Apr 15 Close Previous PM Fix 1716.*****8.00 AM Fix 1728.*****0.00 Source: Thomson73 words
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PERSPECTIVE
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Article, Illustration992 2010-04-17 28 Sarith Weerasinghe - With the vast audience that is constantly on the Web, almost anything becomes possible and one should always aim to develop a concept that has the potential to overcome all kinds of boundaries such as geography and language. By Sarith Weerasinghe By Sarith Weerasinghe The writerREUTERS - 992 words
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Article, Illustration674 2010-04-17 28 Jochen Wirtz - By Jochen Wirtz The writer is an associate professor in marketing and founding director of the UCLA-NUS EMBA, NUS Business School. The full research report was published in Journal of Services Marketing and can be downloaded from www.jochenwirtz.com ALTHOUGH much has beenAP - 674 words
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Wealth
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HEALTH INVESTING
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Article, Illustration1097 2010-04-17 30/31 Paul B Brown - Publishers are bringing out a new crop of investing books, some with radical solutions that raise concerns and criticism, and others which reintroduce proven investment strategies. By Paul B Brown By Paul B Brown NYT New York HERE are three ways to know thatNYT; REUTERS - 1,097 words
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BROKERS' TAKE
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Article235 2010-04-17 30/31 Outperform CIMB-GK Research, April 16 Close: $0.95 UPGRADED from Underperform to Outperform; TP raised to $1.24: We have upgraded Tat Hong from Underperform to Outperform, as we expect earnings to gradually recover back to FY2006-07 levels, after another weak Q4 in FY2010. Thus, we advise investors to235 words
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Article478 2010-04-17 30/31 Lynette Khoo - Compiled by Lynette Khoo Buy DMG Partners Securities, April 16 Close: $15.52 PASSENGER numbers soar: The March 2010 operating statistics across all regions improved significantly in terms of y-o-y passenger load factor (PLF) as well as m-o-m, excluding the South West Pacific route. With the number of passengers478 words
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Article, Illustration1140 2010-04-17 32 Christopher Tan - If you can’t get your clients to stick to their plans, you can’t help them reach their investment goals wealth insights| Christopher Tan CEO, Providend WHEN you hear: “This time it’s different”, isn’t it always a case of de ja vu? Eighteen months ago, when theREUTERS - 1,140 words
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Article, Illustration1391 2010-04-17 33 Teh Hooi Ling - Even in the darkest hours, step up your research and you are most likely to be rewarded show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent IT TURNS out to be almost the proverbial “V”-shaped market recovery after all. From a peak of 3,875.771,391 words
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WEALTH REAL ESTATE
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Article935 2010-04-17 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 17 NON-LANDED Azalea Park Cdo Apt 19/03/2010 999 1313 790 602 Ballota Park Apt 23/03/2010 FH 1313 755 575935 words
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407 2010-04-17 35 Uma Shankari - Most say domestic market is at or near bottom, survey of 244 major institutional and private global investors shows By Uma Shankari shankari@sph.com.sg Singapore REAL estate investors in Asia think that their domestic markets are already at or near the bottom of the407 words
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228 2010-04-17 35 Reuters Beijing IN a new step aimed at slowing property inflation, the Beijing authorities will attach less importance to the size of bids received at land auctions in the capital, Xinhua news agency reported yesterday. Beijing is the first city to announce changesReuters - 228 words
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Article, Illustration522 2010-04-17 35 Bloomberg Hong Kong CHEUNG Kong (Holdings) Ltd, the Hong Kong developer controlled by billionaire Li Ka-shing, said efforts by China to cool its property market are “timely” after record price gains. “You want to take action beforethe marketgetstoo hot,”Justin Chiu, executive director of CheungBloomberg; REUTERS - 522 words
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Page 34 Advertisements
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Advertisement67 2010-04-17 34 Featuring the Prestige Homes Collection Marina Collection Sentosa Cove An Unrivalled lN/larina Experience To arrange for an appointment to view our show unit, please contact Gladis Heng 9387 4624, George Tan 9792 8913 For other luxurious developments, please call 6836 3338 or search with us at savills Savills has more67 words
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Page 36 Advertisements
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Advertisement12 2010-04-17 36 >Wm ROYAL OAK DUAL TIME For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com12 words
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Advertisement55 2010-04-17 1 LivingTHEBUSINESSTIMESWEEKEND|APRIL17-*****0BTTHE BUSINESS TIMES WEEKEND APRIL 17-18 2010 WORLD GOURMET SUMMIT Salt of the earth L4-6 CHEF ON BOARD Three fine dining restaurants now serving on the water L2-3 SHOPPING Craft is art L9-11 GOLF Destination Sabah L17 HOME GARDEN Lightness of being L12-13 MOTORING Charm offensive L19 GADGETS Form versus55 words
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BT Living
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DINING
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Article, Illustration1830 2010-04-17 2 / 3 Audrey Phoon - As the yacht culture picks up speed here, fine-dining restaurants are collaborating with charter companies to offer their cuisine onboard. We highlight three fresh partnerships. By Audrey Phoon By Audrey Phoon aphoon@sph.com.sg Saint Pierre on Nymphaea www.one15luxuryyachting.com HE’S done nearly everything a chef can possibly do on1,830 words
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Article, Illustration643 2010-04-17 4 / 5 Jaime Ee - We sample highlights of the World Gourmet Summit By Jaime Ee jaime@sph.com.sg Ben Shewry of Attica, Melbourne At The Tippling Club 6475 2217 Ends tonight. $245++ for eight courses with wine IT’S a rare moment when you sit down to dinner in a restaurant and your643 words
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Article, Illustration399 2010-04-17 4 / 5 Audrey Phoon - By Audrey Phoon aphoon@sph.com.sg WHEN we met Alfonso Iaccarino earlier this week at The Lighthouse, where he was cooking as part of the World Gourmet Summit, one thing was clear: the Italian chef had two faces. One was the silver-haired, distinguished looking one he was399 words
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Article, Illustration371 2010-04-17 4 / 5 Audrey Phoon - By Audrey Phoon GALA dinners are generally pretty long affairs you know, long speeches, long intervals between every course and, as a result, more than a long face or two among the guests. We approach them with dread, which is why the Spanish gala dinner on371 words
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Article, Illustration405 2010-04-17 4 / 5 Melissa Lwee - By Melissa Lwee mellwee@sph.com.sg Vivek Singh, The Cinnamon Club, London At Rang Mahal, Pan Pacific Hotel QUESTION: Would you pay more than £20 (about S$40) a head to eat in an Indian restaurant? If your answer is no, then you are not alone. Just ask Chef Vivek Singh405 words
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Article, Illustration791 2010-04-17 6 Jaime Ee - By Jaime Ee My Humble House Esplanade Mall #02-27 ?6423 1881 Lunch (seven-course): $135++ Dinner (13-course): $240++ April 19 to 23 MOST people won’t leave home without their credit cards. Hal Yamashita won’t leave home without his specially bottled spring water from Kobe, high grade konbu, rice,791 words
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Article, Illustration284 2010-04-17 6 Natalie Koh - By Natalie Koh natksl@sph.com.sg OTTO Ristorante Around Italy in 7 Cheeses THE thought of a seven-course cheese dinner might strike fear in most hearts, even those of rabid cheese lovers willing to bear the consequences of a full-frontal cholesterol attack. But OTTO Ristorante’s WGS284 words
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WEEKEND WITH
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Article, Illustration799 2010-04-17 7 Cheah Ui-Hoon - Kazuo Ogoura believes that learning a country’s traditional art is a way to understand the people’s psyche. By Cheah Ui-Hoon weekend with By Cheah Ui-Hoon uihoon@sph.com.sg LACQUER ware from Vietnam. Ceramics from Korea. These are just some of the souvenirs that one naturally collects when visiting a foreignARTHUR LEE - 799 words
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DESIGN
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Article, Illustration681 2010-04-17 8 Cheah Ui-Hoon - New sustainable materials could drive the future of design. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg NEW material especially the sustainable, recycled kind is definitely on the radar of Italian design powerhouse Cappellini. The future of design could well be led by the rapidly moving technology behind materials,THE STRAITS TIMES FILE PHOTO - 681 words
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SHOPPING
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Article, Illustration1819 2010-04-17 9 Melissa Lwee - With a growing demand for handmade accessories, sellers are turning to the Web to showcase their wares and reach a wider network of customers By Melissa Lwee mellwee@sph.com.sg FOR the longest time, handicraft was associated with old-fashioned crochet or macrame classes. Not any more as handicraft takes1,819 words
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Article, Illustration559 2010-04-17 10 / 11 Natalie Koh - PLUCK, 31/33 Haji Lane www.pluck.com.sg By Natalie Koh natksl@sph.com.sg TAKE a walk down Haji lane and you will find items on sale that you don’t normally see in your regular shopping malls like Ion Orchard or Wisma Atria. These items range from cheap handmade jewellery by local designers,559 words
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Article1012 2010-04-17 10 / 11 wine dine with BTWeekend Chatterbox Level 5 Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Home to the signature Mandarin Chicken Rice, Chatterbox is an iconic coffee house renowned for its Asian local delights and Western favourites. Most recently, Chatterbox opened its new premises on Level 5 of the hotel with1,012 words
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HOME & GARDEN
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Article, Illustration1069 2010-04-17 12 / 13 Geoffrey Eu - spacious and serene, the Choys’ home is the place to see and be seen. By Geoffrey Eu personal space seen.By Geoffrey Eu btnews@sph.com.sg NATURE, natural light and abundant space play primary roles in Francis and Elizabeth Choy’s new residence, at the end of a quiet cul-de-sac onPHOTOS BY JOHN HENG - 1,069 words
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GADGETS
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Article, Illustration881 2010-04-17 14 The shifting balance between size, weight, battery life and power is getting interesting. By Christopher Lim limchris@sph.com.sg THE biggest problem with tiny netbooks isn’t size or weight but a general lack of power that makes them useless for anything other than basic e-mail and Web surfing. Take881 words
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HEALTH
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Article, Illustration699 2010-04-17 15 Cheah Ui-Hoon - A novel treatment gives sufferers of chronic psoriasis new hope by mimicking biology. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg FOR more than 10 years, Mr Lim, a 34-year-old engineer has only been using creams to treat his psoriasis condition which was messy and troublesome. Now, without the699 words
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SPORT
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Article, Illustration670 2010-04-17 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor LOOKING at the English football fixtures slated for today made me look heavenwards and give thanks for the wonderful spread of games that will be keeping me glued to my television screen all night.PHOTOS: AP, REUTERS - 670 words
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Article, Illustration598 2010-04-17 16 Lee U-Wen - By Lee U-Wen AS a writer, even one as established as Neil Humphreys is, you know your book isn’t doing too badly when it’s being reviewed and sold in countries that you haven’t even set foot on yourself. The best-selling Dagenham-born author was astonished598 words
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GOLF
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Article, Illustration1152 2010-04-17 17 Justine Moss - Sabah in East Malaysia is establishing itself as one of the country’s favourite golfing destinations. By Justine Moss destinations.By Justine Moss btnews@sph.com.sg OVER the years, Sabah on the island of Borneo in East Malaysia has taken firm steps to establish itself as oneofthecountry’sfavourite golfing destinations. It1,152 words
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MOTORING
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Article, Illustration902 2010-04-17 18 KL Tay - Volkswagen’s new Touareg SUV has shed some weight, but not at the expense of onboard equipment and driver aids. By KL Tay aids.By KL Tay btnews@sph.com.sg WEIGHT. Most of us have a little too much of it and need to lose some. Volkswagen’snewTouaregsport-utili-ty vehicle has already done902 words
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Article, Illustration578 2010-04-17 19 Samuel Ee - The 2.5-litre Nissan Murano is a feature-laden proposition that sets it apart from the competition. By Samuel Ee competition.By Samuel Ee samuelee@sph.com.sg IN terms of image, the Nissan Murano got it right from Day One with its cool crossover styling. In terms of practicality, though, its engine size578 words
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Article, Illustration618 2010-04-17 20 Samuel Ee - Rumours over Red Bull’s ride height are rife as Formula One travels to China this weekend.By Samuel Ee f1 watch weekend.By Samuel Ee samuelee@sph.com.sg HOW high can it ride? How low can I go? No, these are not what you will hear being asked of618 words
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