The Business Times, 24 July 2010
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2010-07-24
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The Business Times
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Title Section16 2010-07-24 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg July24-25, 2010 S$1.00 MICA(P) 124/08/2009 Sfh A SINGAPORE PRESS HOLDINGS PUBLICATION16 words
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694 2010-07-24 1 Jamie Lee - SGX strives for greater transparency with proposal to list all short-sale turnovers By Jamie Lee leejamie@sph.com.sg Singapore THE shorts will now be exposed under new proposals by the Singapore Exchange (SGX) but while this may increase transparency, it has also raised some694 words
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Page 1 Advertisements
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Advertisement188 2010-07-24 1 the business times www.businesstimes.com.sg July 24 -25, 2010 S$1.00 MICA (P) 124/08/2009 WEALTH Unfazed by market uncertainty 30-31 The Raffles Conversation CNBC PRESIDENT MARK HOFFMAN 8-9 KL HAWKER GUIDE Prawn trails L6-7 without borders Celebrating our differences SOME 5,000 people gather at the River Promenade for the finale of the188 words
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TOP STORIES
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336 2010-07-24 2 AFP London SEVEN European banks failed the European ion’s(EU)stresstestsforresistance to future financial crises, the CBES banking authority said yesterday. Hypo Real Estate in Germany and five regional lenders in Spain were among those deemed to need increased capital. European governments are expected to moveAFP - 336 words
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Article137 2010-07-24 2 STI 2,973.47 (+17.80) STI FUTURES 2,973.00 (+24.00) SIMSCI 349.97 (+2.29) SIMSCI FUTURES 350.90 (+3.70) STOCKS Friday Change KL COMP 1,345.68 +9.63 NIKKEI 225 9,430.96 +210.08 HANG SENG 20,815.33 +225.63 SET 840.24 +7.23 JAKARTA 3,042.02 +32.10 MANILA 3,416.10 +1.20 KOSPI 1,758.06 +22.53 SHENZHEN B 629.87 +3.95 MUMBAI IND 18,130.98 +17.83137 words
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Article, Illustration470 2010-07-24 2 Melissa Tan - By Melissa Tan melissat@sph.com.sg Singapore ABOUT 5,000 people from different races, religions and nationalities gathered at the River Promenade yesterday evening to celebrate the finale of the month-long Orange Ribbon Celebrations (ORC), themed Friendship Without Borders. Orange is the colour chosen to symboliseYEN MENG JIIN - 470 words
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915 2010-07-24 3 Kalpana Rashiwala - Momentum of recovery in private residential rents also picked up Reports by Kalpana Rashiwala kalpana@sph.com.sg Singapore PRIVATE home prices generally rose at a slightly slower pace in Q2 than they did in Q1, but latest official numbers show a broadbasedgrowth inproperty prices– with stronger915 words
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553 2010-07-24 3 NET office demand surged in the second quarter of this year to its highest quarterly level since Q3 2007. Urban Redevelopment Authority figures released yesterday showed a net increase in demand of 398,264 square feet in Q2, up about 68 per cent from553 words
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362 2010-07-24 4 Reuters New York WHY wait for the honeymoon? Engaged couples are turning bachelor and bachelorette parties into multi-day events and flying off to Las Vegas, Mexico and the Bahamas to celebrate before they tie the knot. “I think, for most girls, it’s aReuters - 362 words
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Article, Illustration178 2010-07-24 4 YEN MENG JIIN - YEN MENG JIIN iPad unleashed: The look in the eyes of retirees Zak and Hamzah, 59 and 63 years old respectively, says it all. The iPad is finally in their hands. They showed age is no barrier to enjoying the latestYEN MENG JIIN - 178 words
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560 2010-07-24 4 Teh Shi Ning - New Creation and City Harvest don’t flout new rules but will have to abide by usage curbs: URA By Teh Shi Ning tshining@sph.com.sg Singapore THE commercial investments of New Creation Church and City Harvest Church do not infringe the Urban Redevelopment Authority’s (URA) new560 words
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Article, Illustration671 2010-07-24 5 Josephine Chew - Kafkaesque and the next chapter could be gripping A battle rages over the master writer’s long-hidden unpublished papers which could be hiding another ‘The Trial’ or ‘The Castle’ By Josephine Chew jochew@sph.com.sg Singapore IF he had had it his way, the protracted battle over his unpublished papers wouldn’t be soAP - 671 words
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570 2010-07-24 5 BP also says they helped Brightoil gain strategic advantage Bloomberg Singapore BP plc is suing six former members of its energy team in Singapore claiming they misused confidential information to help rival Shenzhen Brightoil Group gain a “strategic advantage”. The six, including Quek ChinBloomberg - 570 words
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Article, Illustration618 2010-07-24 6 They fear being exposed to legal liability; bond markets hit New York A NEW law making ratings agencies liable for their ratings decisions is creating havoc in the bond markets after the firms denied their clients permission to use them in their salesBLOOMBERG - 618 words
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641 2010-07-24 6 Joyce Hooi - saturday soapbox| By Joyce Hooi joyceh@sph.com.sg SOME time in the 1990s we lost the ability and desire to say what we really mean. The 1980s had been a wonderful period of bluntness, like Gordon Gekko’s “greed is good”. It wasn’t a pretty statement641 words
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Page 2 Advertisements
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Advertisement124 2010-07-24 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 10-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-7 ClipperRace L8-9 Shopping L10-11 Design L12-13 Gadgets124 words
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Page 3 Advertisements
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Advertisement9 2010-07-24 3 ??HDB cash premiums still on the rise, Page 359 words
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Page 6 Advertisements
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Advertisement98 2010-07-24 6 NOTICEOFMEETINGOFCREDITORS INTHEMATTEROFTHE COMPANIESACT(CHAPTER50) AND INTHEMATTEROF WANGWANGPAWNSHOPPTELTD CO.REG.NO.*****8323W Notice herebygivenpursuant Section 296 the CompaniesAct(Chapter 50)that meeting the creditors the abovenamedcompanywillbe held Equity Plaza, 20CecilStreet #12-02Singapore*****5onThursday, 55 August2010 11.30a.m.forthe followingpurposes: AGENDA 11.. Tolaybeforethecreditors full statement theaffairs theCompany, showingtheassetsandliabilities the company; .2 2. Appointment Liquidator; .3 3. Toappoint Committee Inspection deemednecessary; .4 4.98 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK | July 19-23, 2010
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55 2010-07-24 7 EVEN as Singapore’s strong sec-ond-quarter GDP numbers sent economists rushing to raise their forecasts for the full year, the stock market barely stirred. Popping of champagne will probably come only when Q2 corporate earnings show that economic boom has indeed found its55 words
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53 2010-07-24 7 HONG Kong’s financial regulators are adding a new weapon to their arsenal in the battle to protect investors from unscrupulous stockbrokers: old ladies and pregnant women. They plan to hire them to make sure banks and brokerages use above-board techniques when53 words
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60 2010-07-24 7 AMERICAN International Group named former Prudential plc chief executive Mark Tucker as head of its Asia life insurance business, AIA, replacing Mark Wilson. Analysts are buzzing with the possibility that AIA, which was almost sold to British insurer Prudential, may60 words
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61 2010-07-24 7 THE sale proceeds of an HDB flat can no longer be used as collateral for loans nor for paying off debts. Parliament on Monday fast-tracked the passing of a bill to prevent creditors from laying first claim to the flat, following a spike in people61 words
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60 2010-07-24 7 HELP is at hand for businesses in Orchard Road to make sure that they are better prepared to deal with flash floods. The Public Utilities Board has invited shopowners along the popular belt to sign up for its SMS alert system so that60 words
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57 2010-07-24 7 THE government has clarified the extent to which commercial space can be used for religious activities. The guidelines, which apply with immediate effect, include caps on how often religious activities can be held at commercial venues and how much space they can use57 words
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49 2010-07-24 7 GOLDMAN Sachs Group has reported an 82 per cent drop in sec-ond-quarter profit, well short of analysts’ estimates. Investors went on a selling spree straight out of the gate, with the Dow Jones Industrials sinking by 130 points, or 1.3 per cent.49 words
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36 2010-07-24 7 DESPITE a strong rebound in markets last year, global fund managers are struggling to return to pre-crisis profit levels as investors remain risk averse, according to Boston Consulting Group.36 words
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Article, Illustration23 2010-07-24 7 Parliament on Monday fast-tracked the passing of a bill to prevent creditors from laying first claim to HDB flats FILE PHOTOFILE PHOTO - 23 words
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35 2010-07-24 7 BEING online won’t be the same again. Apple’s iPad will finally be available in Singapore from Friday and has been hyped as a game changer.35 words
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63 2010-07-24 7 SOON after the Lehman crisis broke out, Citigroup was the first, in October 2008, to predict a negative GDP number for Singapore in 2009. Then in May last year, when everyone else was still downgrading their forecasts of63 words
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40 2010-07-24 7 SINGAPORE small and medium sized enterprises recorded the biggest jump in confidence level among their Asian peers in the second quarter this year, posting a 19-point increase in a business confidence index created by HSBC.40 words
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46 2010-07-24 7 TEMASEK Holdings has pulled off another trailblazing fund raising exercise, bringing more depth to the local debt market. On Thursday, it sold $1 billion of bonds with a 40-year tenor, double the length of the longest dated Singapore government bond.46 words
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41 2010-07-24 7 MARKET leader Morgan Stanley is looking to exit the business of providing accommodation for foreign workers. A portfolio of four dormitories, which are majority-owned by one of its funds, is up for sale.41 words
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NEXT WEEK | July 26-30, 2010
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Article22 2010-07-24 7 July 26 New home sales July 27 Consumer confidence July 28 Durable orders July 29 Initial claims July 30 GDP-advance22 words
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Article33 2010-07-24 7 July 26 June index of industrial production July 29 June producer and int’l trade price indices July 30 June unemployment rate June employment rate Q3 business expectations June central govt operations33 words
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Page 7 Advertisements
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Advertisement21 2010-07-24 7 The heartbeat of the investing community Get your copy at $5.50 at leading newsstands and petrol stations. To subscribe, call 6388-3838.21 words
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Page 7 Miscellaneous
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Miscellaneous346 2010-07-24 7 CRYPTIC CROSSWORD Across 1 He’s after a feline clutching a strip of leather disaster! (11) 9 Change the course of a revolution (4) 10 Wolves, say, or beasts of burden (4,7) 11 Ring starts twitching of the ear (4) 14 He was bound to begin, but not finish, his performance346 words
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THE RAFFLES CONVERSATION
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Article, Illustration1666 2010-07-24 8/9 Michelle Quah - Working hard finishing first A start-up mentality is needed to stay relevant and exciting to viewers in a digital media age, says CNBC president Mark Hoffman. By Michelle Quah By Michelle Quah michquah@sph.com.sg ‘THINK like a start-up’, is hardly unusual advice but unexpected,whenyouconsider thatit comesfrom a television industry veteran ofYEN MENG JIIN - 1,666 words
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Page 8/9 Advertisements
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Advertisement70 2010-07-24 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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457 2010-07-24 10 Siow Li Sen - It rebuts Fortis complaint that IH’s update on acceptances of Parkway partial offer could misguide market By Siow Li Sen lisen@sph.com.sg Singapore THE takeover fight for Parkway Holdings is turning grim. Following a letter of complaint sent by lawyers from rival bidder Fortis to the457 words
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412 2010-07-24 10 Melissa Tan - By Melissa Tan melissat@sph.com.sg Singapore CAPITARETAIL China Trust (CRCT) yesterday posted net property income of $19.8 million for the second quarter ended June 30, an increase of 1.9 per cent from Q2 last year, even though gross revenue fell 2.8 per cent to $29.6412 words
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218 2010-07-24 10 Chew Xiang - By Chew Xiang xchew@sph.com.sg Singapore SIA Engineering Company (SIAEC) said yesterday its net profit for the first quarter ended June 30 rose 57 per cent to $70.8 million, from $45.1 million a year earlier. Revenue increased 18 per cent to $288.3 million, from218 words
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234 2010-07-24 10 Reuters Singapore THE Singapore Exchange (SGX) expects stock trading volumes to rise by around 10 per cent if a proposal to do away with the lunch-time break is implemented, chief executive Magnus Bocker said yesterday. He said the introduction of continuous tradingReuters - 234 words
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Article, Illustration388 2010-07-24 11 Nicholas Yeo - DPU rises 4% to 1.87¢ on 3% increase in revenue to $44.4m By Nicholas Yeo yeonick@sph.com.sg Singapore ASCOTT Residence Trust (Ascott Reit) announced yesterday that unitholders’ distribution per unit (DPU) for the April-June quarter rose 4 per cent to 1.87 cents,FILE PHOTO - 388 words
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442 2010-07-24 11 Angela Tan - By Angela Tan angelat@sph.com.sg Singapore ASCENDAS India Trust (a-iTrust) has reported a distribution per unit (DPU) of 1.66 cents for its first quarter ended June 30, 2010, down 19 per cent from a year ago. This represents an annualised yield of 7.1442 words
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385 2010-07-24 11 Lynn Kan - By Lynn Kan lynnkan@sph.com.sg Singapore FRASERS Centrepoint Trust (FCT) has posted record distribution income of $16.3 million for the third quarter ended June 30, up 35 per cent from a year earlier. And at the trust’s results briefing yesterday, chief executive officer Chew Tuan385 words
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Article, Illustration486 2010-07-24 14 R Sivanithy - stocks R Sivanithy sivan@sph.com.sg Senior correspondent AS correctly predicted in our column yesterday, the Straits Times Index’s 29-point Thursday jump was due to a programme buy ahead of a push on Wall Street that duly materialised. Andasaresult,yesterday’ssession was more subdued. The STI486 words
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Business briefing
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64 2010-07-24 14 CHINA Great Land Holdings Ltd warned of “a significant loss” for the half year ended June 30, 2010. The loss is attributed to the significant slowdown in the Hainan construction market in the second quarter of 2010, leading to low margins for64 words
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46 2010-07-24 14 CHINA Taisan Technology Group Holdings said that it is considering a proposal to offer and list Taiwan Depository Receipts (TDRs). It said that the proposed listing will broaden and diversify its shareholder base, and provide an additional fund-raising platform.46 words
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72 2010-07-24 14 MEIBAN Group Ltd is planning to diversify and expand its business to include the provision of machining and drilling services. These will include services such as deep hole drilling, honing, CNC lathe machining and milling operations to facilitate material sizing. Meiban said that the72 words
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65 2010-07-24 14 OLD Chang Kee Ltd said that it expects its net profit for the first half of 2010 to be lower than that a year ago. The fall in net profit was mainly attributed to the cut in grants provided under the65 words
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Article64 2010-07-24 14 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 266.1 1.7 DBXT FTChina25 10US$ 2974 190.7 4.9 GLD 10US$ ***** 131.7 0.8 DBXT SPASX200 10US$ 2816 126.2 3.4 Pru 500US$ 820 41.2 3.8 Jardine C&C 3548 40.0 1.1 DBXT MSINDO 10us$ 1262 37.0 2.2 Lyxor China H 10US$ 154364 words
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Article51 2010-07-24 14 BY CENTS CLOSEDOWN DBXT S&P Short 10US$ 5300 -133.1 -1.8 WesTech 225 -63.0 -21.9 JMH 4124 -22.0 -0.4 Isetan 333 -17.0 -4.9 UOB 1936 -14.0 -0.7 DBS BNPECW*****0 9.5 -12.0 -55.8 Great Eastern 1690 -10.0 -0.6 CoscoCorMBLePW*****3 20 -8.5 -29.8 F&N 575 -7.0 -1.2 KepCorp RBePW*****0 16.5 -7.051 words
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Article392 2010-07-24 14 Karen Ng - By Karen Ng karenng@sph.com.sg Singapore SHAREINVESTOR, a wholly owned subsidiary of Singapore Press Holdings, has launched its revamped financial portal www.shareinvestor. com. The redesigned portal will further enhance the one-stop financial portal’s position as the region’s leading provider of data, analysis, news and charting tools for investors,392 words
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Article110 2010-07-24 14 VOL CLOSE GentingSP 87,142 121 1.0 0.8 ChinaHongxing 78,816 14 1.5 12.0 Informatics 59,092 9 1.5 20.0 CoscoCorp 48,562 162 1.0 0.6 GoldenAgri 47,182 57.5 0.0 0.0 BerlianLaju 39,746 4 -0.5 -11.1 Z-ObeeHldgs 33,725 42 0.0 0.0 NobleGrp 27,315 171 -2.0 -1.2 CapitaLand 26,969 388 4.0 1.0110 words
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Article109 2010-07-24 14 Stock name Close Change CapMallsAsia 2.060 +0.010 CapitaLand 3.880 +0.040 CapitaMall 1.960 -0.020 CityDev 12.020 +0.220 ComfortDelGro 1.550 DBS Grp 14.400 +0.140 F&N 5.750 -0.070 Genting SP 1.210 +0.010 Golden Agri 0.575 HK Land 5.400 +0.050 JMH 41.240 -0.160 JSH 24.500 Jardine C&C 35.480 +0.400 Keppel Corp 8.940109 words
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Page 10 Advertisements
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Advertisement63 2010-07-24 10 NOTICE I, Jeremy Menzies Paisley, divorcé, of 835 Bukit Timah Road, #01-01, Singapore *****8 intend to marry Joanna Cristy v. Gavilo, single, of P4B5L6, Summer St, Hillside Sdv, Bajada, Davao City, Philippines at Garden Oases, PorrasSt,BoObrero,DavaoCity,Philippineson1October 2010. Any person knowing of any lawful impediment to the marriage should without delay63 words
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Page 11 Advertisements
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Advertisement333 2010-07-24 11 AVIVA INVESTORS Societe d'lnvestissement a Capital Variable Registered office: 34, Avenue de la Liberie, L-1930 Luxembourg R.C.S. Luxembourg B 32 640 NOTICE TO SHAREHOLDERS OF AVIVA INVESTORS Delegation of registrar and transfer agency functions We would like to inform you that the board of directors of Aviva Investors Luxembourg, the333 words
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Page 12 Advertisements
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Advertisement105 2010-07-24 12 RHCHEALTHCAREPTE. Noticetoallshareholder of arkwa HoldingsLimited(“Parkway”) rf r fromRHCHealthcarePteLtd.(“RHCHealthcare”) VVoluntar ConditionalCashOffer RHCHealthcareor PParkwa (“Offer”) PPointstonoteabouttheOffer: .1 1. Off Price S$3.80 cashperOfferShare.. .2 2. Fullorpartialacceptance possible: This anoffer orALL ourshares,, allowing ou FULL xit aa cash ice ouwish. Alternatively shareholderscanchoose accepttheOff par fo f of their estmentandcontinue sta ested .3 3. TheOff105 words
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Page 13 Advertisements
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Advertisement251 2010-07-24 13 Please consider the Offer carefully, as well as the recommendation of the directors of Parkway who are independent for the purposes of the Offer and the advice of the independent financial adviser to such Parkway directors, which will be issued in due course. Shareholders who wish to ACCEPT the Offer251 words
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FROM THE DESK OF
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Article, Illustration1444 2010-07-24 15 from the desk of The West has long been giving transnational aid to poorer nations. Now, it’s just a matter of time before the wealthy in emerging economies start donating to the West THE quintessence and glamour of philanthropy is the munificence of the rich to advance1,444 words
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SINGAPORE
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Article, Illustration481 2010-07-24 16 Chew Xiang - Dangers to world economy include Europe’s debt turmoil, deleveraging in the United States, and protectionist pressures By Chew Xiang xchew@sph.com.sg A FRAGILE economic recovery could see the world tip back into recession “sooner than expected”,says TonyTan,deputy chairman of the Government of Singapore Investment481 words
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427 2010-07-24 16 Lynn Kan - By Lynn Kan lynnkan@sph.com.sg SINGAPOREAN households experienced a 2.7 per cent year-on-year inflation rate in June that was “more benign than expected”. The increase in the Consumer Price Index (CPI) represents a more moderated rise from the previous month’s year-on-year427 words
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Article, Illustration478 2010-07-24 17 Lee U-Wen - Inaugural YOG the last Olympic event to feature international torch journey By Lee U-Wen leeuwen@sph.com.sg DRESSED in the white garb of an ancient high priestess, Greek actress Ino Menegaki stood among the ruins of the stadium at Ancient Olympia where the Olympics was bornXINHUA; AP - 478 words
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226 2010-07-24 17 SUZHOU Industrial Park’s trade leapt 67.7 per cent year on year to US$35.6 billion for the first half of 2010, it was announced yesterday by the 12th Suzhou Industrial Park joint steering council (JSC) meeting here. The global crisis caused the park’s 2009226 words
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287 2010-07-24 17 THE National University of Singapore (NUS), Tsinghua University (THU) in Beijing and the Media Development Authority of Singapore (MDA) announced the launch of the NUS-Tsinghua Extreme Search Centre (NExT Search Centre) yesterday. Michael Yap, executive director of the Interactive Digital Media R&D Programme Office (IDMPO),287 words
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381 2010-07-24 18 Conrad Tan - Arrangement allows MAS to borrow up to 150b yuan of the Chinese currency By Conrad Tan conradt@sph.com.sg SINGAPORE’S central bank has set up a $30 billion curren-cy-swap arrangement with its counterpart in China to promote trade and investment between the two countries. The381 words
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Article, Illustration259 2010-07-24 18 SINGAPORE Telecommunications Limited (SingTel) announced yesterday that the SingTel Touching Lives Fund (STLF) is targeting to raise $2.1m in 2010. Fund-rasing activities were launched yesterday with a charity golf event held at Laguna National Golf and Country club. More than $730,000259 words
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223 2010-07-24 18 NESTLE is setting up a regional hub in Singapore for innovation in beverages. It said that the hub would research and develop Nestle beverage products in the Asia-Pacific region. Staffed by a team of technical specialists, it will be at the company’s research223 words
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Page 16 Advertisements
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Advertisement50 2010-07-24 16 August Pulses out now! Enjoy your copy of Pulses and a fresh medium espresso beverage for only $5.50 at any Spinelli Coffee outlet Willthegovernmentlandscaleprogramme godowninhistoryasoneoftheboldestmoves tocontrolSingapore'spropertymarket? Propertyinvestmentsofferpotentiallylargereturnsfor littleoutlay. •Weanalysehowtheassetclasshasevolvedandwhatitcan offerinvestors. InImpulses,JBistroservesupstraightforwardmodern Europeanfarethatisagastronomicaldelight. Pulsesisavailableatnewsstands,petrolstationsandleading bookstores.Tosubscribe,pleasecall6388-3838. Get a complimentary copy if you are a Pere Ocean client, while stocks last! Producedby Publishedby50 words
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Advertisement16 2010-07-24 16 Head to CATS FASTADS in The New Paper for education options! MATS BUY IT-SELL IT-FIND IT16 words
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Page 18 Advertisements
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Advertisement4 2010-07-24 18 flRST>N rthlttehrtS m www.radio913.com4 words
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Advertisement17 2010-07-24 18 Head to CATS FASTADS in The New Paper for job opportunities! [£AT3 BUY IT-SELL IT• FIND IT17 words
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WORLD
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Article, Illustration605 2010-07-24 19 Anthony Rowley - There are concerns the strong yen is undermining Japan’s export-led economic recovery By Anthony Rowley btworld@sph.com.sg Tokyo INTERVENTION by Japanese authorities to weaken the strong yen appeared to come a step closer yesterday when a senior government official made the unusual move ofBLOOMBERG - 605 words
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304 2010-07-24 19 Reuters Hanoi US Secretary of State Hillary Clinton urged Asia yesterday to enforce tough sanctions against North Korea, which hit back by threatening a “physical response” to Washington’s plans for joint military drills with South Korea. “One measure of the strength of aReuters - 304 words
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355 2010-07-24 19 Reuters Beijing IRAN and China are in talks to use the Chinese yuan to settle transactions of oil and projects, as heightened sanctions from the United States and Europe seek to further isolate Teheran from the global financialReuters - 355 words
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Article, Illustration551 2010-07-24 20 He also predicts headline inflation will ease to 7% or 8% by December from 10.55% last month Reuters New Delhi A TOP Indian government adviser has called for strong monetary policy action to combat high inflation, days before the central bank is setReuters; AFP - 551 words
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Article, Illustration226 2010-07-24 20 Reuters New Delhi INDIA has come up with theworld’s cheapest “laptop”, a touch-screen computing device that costs US$35. India’s Human Resource Development Minister Kapil Sibal this week unveiled the device that is designed for students, saying his department had started talks with global manufacturersReuters; AFP - 226 words
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168 2010-07-24 20 Reuters Hong Kong SANDS China, the Macau unit of Las Vegas Sands Corp, said yesterday that chief executive Steve Jacobs has left the company, the latest in a string of Sands’ executives to go. “Mr Jacobs’ employment with the company was terminated with effectReuters - 168 words
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Article, Illustration504 2010-07-24 21 Key focus is now new export destinations such as Middle East, Asia Reu ters Farnborough, England IF you want to see the shift in geopolitical and military clout from Western powers towards their growing emerging rivals, look no further than the salesReuters; REUTERS - 504 words
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251 2010-07-24 21 AP Berlin GERMANY’S business confidence is continuing its unexpected upward trend in July, showing the biggest increase since the country’s reunification in 1990, according to a closely watched business climate index released yesterday. The Ifo index rose to 106.2 points from 101.8 points in June,AP - 251 words
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336 2010-07-24 21 Reuters Budapest RATINGS agency Moody’s placed Hungary on review for a possible downgrade yesterday, citing increased fiscal risks. Moody’s action came after Hungary suspended talks with the International Monetary Fund (IMF) and the European Union (EU) on its existing US$25 billion aid dealReuters - 336 words
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Article, Illustration619 2010-07-24 22 Random House, Wylie Agency in stand-off over e-books AP New York IT’S war between Random House and a top literary agency. Random House, the leading US trade publisher, announced on Thursday that it would conduct no new English-language business with the Wylie Agency. That threat cameAP; BLOOMBERG - 619 words
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416 2010-07-24 22 AFP Reuters Detroit GENERAL Motors (GM) will acquire automobile finance firm AmeriCredit for about US$3.5 billion, as the US car maker tries to open credit to hard-up consumers. GM said the acquisition could help boost sales and provide a captive financing arm asAFP; Reuters - 416 words
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Page 20 Advertisements
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Advertisement5 2010-07-24 20 omy 李 http://showbiz.omy.sg 日 http://eat.omy.sg5 words
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Page 22 Advertisements
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Advertisement29 2010-07-24 22 ft -sLianhe Zaobao ventures into Southeast Asia in a big way \L 3E r* >ra M n. tK uFL V5L r To subscribe, call 6388-3838 or go to sphsubscription.com.sg29 words
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SGX
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Article9041 2010-07-24 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 20 10.5 3148 8Telecom 18 -0.5 2076 18.5 18 18 18.5 1.7 10.1 5.8 86.2 10 6 5834 A-Sonic 8.5 -0.59,041 words
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Article1845 2010-07-24 26 52-wks Tel Last High Low Code Company Sale +/-(‘000) 10 5 1181 t AA Grp 5 225 130 6222 t APStrategic 200 4 0.5 1501 t Advanced System 1 +0.5 6 2.5 3480 t Adventus 3 unch 7.5 4.5 7814 t Albedo 5.5 14 3.5 3116 t Annica1,845 words
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Article186 2010-07-24 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 3 7 0 0 0 7 3 7 Manufacturing 68 49 58 7 7 10 75 56 68 Commerce 25 20 18 3 4 5 28 24 23 Tpt/Stor/Comms 22 8 13186 words
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Article831 2010-07-24 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jul 19 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Addvalue Tech Ltd 21-Jul-10 Chan Kum Lok Colin Buy ***** na 1200 0.13 ***** 1.99 Addvalue Tech831 words
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Article117 2010-07-24 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 27,183 27,183 87,250 87,250 Manufacturing 365,886 25,668 391,554 293,534 2,484 296,017 Commerce 101,593 30,099 131,692 120,257 4,095 124,353 Tpt/Stor/Comms 181,504 132 181,636 307,706 16 307,721 Finance 18,094 18,094 187,721 187,721 Construction 16,485 3,501 19,986 4,262117 words
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Article127 2010-07-24 27 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2150 1.2520 Can dollar 1.3140 1.3310 Euro 1.7600 1.7810 NZ dollar 0.9880 1.0100 Sterling pound 2.0830 2.1080 US dollar 1.3640 1.3800 Local dollars to 100 units of foreign currency: Currencies Bid Offer Chi127 words
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Article, Illustration98 2010-07-24 27 YTD change: +2.62% 52-week high: 3,037.97 on April 15,2010 52-week low: 2,455.51 on July 23,2009 Source: Bloomberg Bloomberg YTD change: -4.83% 52-week high: 23,099.50 on Nov 18, 2009 52-week low: 18,971.50 on May 27, 2010 Source: Bloomberg Source: Bloomberg YTD change: -1.01% 52-week high: 11,258.00 on April 26,Source: Bloomberg - 98 words
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374 2010-07-24 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 22 Index Change Change Change Change Change Change World Index Preliminary 801.3 1.7 -3.8 1.8 -7.2 1.9 -5.1 ‡EAFE Preliminary 741.0 1.3 -5.6 1.7 -10.5 1.8 -8.5 Europe Preliminary 1088.7 2.2374 words
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Article154 2010-07-24 27 Jul 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2282 1.2299 0.8953 0.8958 Canadian dollar 1.3250 1.3268 0.9659 0.9664 Euro 1.7704 1.7724 1.2906 1.2909 NZ dollar 0.9978 0.9995 0.7274 0.7280 Sterling pound 2.1010 2.1033 1.5316 1.5319154 words
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Article82 2010-07-24 27 Jul 22 COCOA (£/tonne) Close Prev High/Low Sep 10 2273 2286 2300/2251 Dec 10 2157 2168 2180/2144 Mar 11 2136 2141 2151/2118 May 11 2141 2140 2150/2124 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1669 1650 1695/1670 Sep 10 1691 1672 1706/1671 Nov 10 1707 1691 1722/1691 Jan 1182 words
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Article66 2010-07-24 27 Jul 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 10 2589 2558 2589 2551 390 5382 Sep 10 2562 2510 2562 2506 2278 ***** Oct 10 2535 2498 2535 2491 9920 ***** Nov 10 2538 249966 words
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Article101 2010-07-24 27 Jul 22 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 10 1016.*****5.*****6.*****8.75 Sep 10 990.50 990.*****2.50 983.75 Nov 10 979.50 978.50 991.00 972.25 Jan 11 987.50 987.00 999.25 980.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Aug 10 38.90 38.26 39.23 38.14 Sep 10 39.08101 words
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Article75 2010-07-24 27 Jul 22 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 77.41 1.81 WTI (Near Mth) 78.83 2.66 Dubai (1-Mth F) 73.51 -1.07 Tapis blend 79.85 -1.15 Minas 76.60 -1.15 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 68.77 0.35 Jet Kerosene 85.45 -0.43 US$/barrel Opec Oil Basket Price75 words
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Article73 2010-07-24 27 Jul 22 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2022.00 1986.00 3 months 2044.00 2008.00 Copper, Grade A (US$/tonne) Cash 6992.75 6844.00 3 months 7010.00 6860.00 Lead (US$/tonne) Cash 1919.50 1845.25 3 months 1940.00 1866.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)73 words
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Article66 2010-07-24 27 Jul 23 GOLD (US$/oz) Jul 22 Jul 23 Hong Kong 1188.*****9.10 Jul 21 Jul 22 London 1191.*****5.55 1191.*****6.55 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.03 24.80 Source: UOB PLATINUM Lon (US$/oz) Jul 22 Close Previous PM Fix 1519.*****4.00 AM Fix 1518.*****9.00 Source: Thomson Reuters PLATINUM NYMEX66 words
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PERSPECTIVE
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Article, Illustration887 2010-07-24 28 / 29 David Mason - From Pan El 25 years ago to toxic debt recently, lessons on thrift and trust are not learnt. Fraud, in the sense of outrageous negligence, is now practised at the highest global levels as regulations at those levels are not tight David Mason TWENTY-FIVEyears ago, theAFP - 887 words
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Article, Illustration780 2010-07-24 28 / 29 Shada Islam - Shada Islam Brussels correspondent EUROPEAN Union foreign policy chief Catherine Ashton is working hard to build a strong EU “external action service” or diplomatic corps which, among other things, will help construct a close political relationship with Asian and other countries around theAFP - 780 words
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Wealth
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HEALTH INVESTING
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Article, Illustration1053 2010-07-24 30 / 31 Longtime stockmarket champion Jeremy Siegel is unfazed by the current market uncertainty. On the contrary, he says, this is a great time to be an investor NYT LONG before he began studying economics, Jeremy J Siegel charted the ups and downs of the DowNYT; BLOOMBERG - 1,053 words
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Article752 2010-07-24 30 / 31 Conrad Tan - Compiled by Conrad Tan Keppel Corporation Buy DBS Group Research July 23 Close: S$8.94 Keppel Corp reported Q2 2010 recurring net profit of S$347.3 million (up 9.2 per cent y-o-y), above expectations. This was driven mainly by an exceptional offshore and marine (O&M) Ebit margin of 19.7 per752 words
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Article, Illustration1058 2010-07-24 32 Vasu Menon - Market participants use them to formulate views about economic growth, inflation and interest rates wealth insight Vasu Menon Vice-President Wealth Management Singapore, OCBC Bank MARKETcom-mentatorsoftenciteeconomicindicatorsto explain the behaviour of financial markets, especially at this juncture when investors are concerned about the sustainability of theREUTERS - 1,058 words
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Article, Illustration1211 2010-07-24 33 Teh Hooi Ling - Median total return for the past 11 years comes in at an atrocious negative 60% show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent WE know that buying into an S-chip, or China companies listed on the Singapore Exchange, has generallySource: Compiled by BT with data from Bloomberg - 1,211 words
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WEALTH REAL ESTATE
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953 2010-07-24 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 13 LANDED Jln Lateh 2-Det 24/06/2010 FH 7195 4300 598 NON-LANDED Macpherson Green Apt 23/06/2010 FH953 words
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Article, Illustration634 2010-07-24 35 Emilyn Yap - Median cash over valuation across all resale transactions in Q2 is $30,000, up 20% from $25,000 in Q1 By Emilyn Yap emilyny@sph.com.sg FRESH data from the Housing Development Board (HDB) yesterday painted a picture of bullishness in the resale flat market. Cash premiumsFILE PHOTO; Source: HDB - 634 words
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Page 34 Advertisements
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Advertisement49 2010-07-24 34 Featuring the Prestige Homes Collection Your Specialist lri Prime and Luxurious Properties For enquiries: Ruby Ong 9222 0208, ROng@savills.com.sg or Lawrence Chia 9617 2884, LChia@savills.com.sg To arrange for an appointment to view our other luxurious developments, please call 6836 3338 or search with us a residential.savills.com. sg savills m-xwmmm49 words
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Advertisement36 2010-07-24 36 JS AUDEMARS PIGLET Le maitre de I'horlogerie depuis 1875 E 1 y y HG V 3 0n 8 •n/ aut OOf o AT|Q k0 IROYAL OAK OFFSHORE DIVER SELFWINDING For enquiries, Tel: (65) 6238 6678 www.audemarspiguet.com36 words
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Advertisement65 2010-07-24 1 THE RISE OF THE LOCAVORE Why more folks in Singapore are making a pitch for buying and eating region-centric fare KL HAWKER GUIDE Sang har meen L6-7 LivingBTTHEBUSINESSTIMESWEEKEND|JULY24-*****0BTTHE BUSINESS TIMES WEEKEND JULY 24-25 2010 DESIGN A little bit country L12-13 PHOTO: YEN MENG JIIN NO HOLDS BARRED Ban the vuvuzela65 words
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BT Living
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DINING
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Article, Illustration1479 2010-07-24 2/3 Audrey Phoon - The concept of locavorism is budding here as Singaporeans become more aware of food provenance and environmental issues, but growing it will require a combined effort from restaurants, retailers and individuals. By Audrey Phoon individuals.By Audrey Phoon aphoon@sph.com.sg A RECENT post on the food blog365DAYS2PLAY - 1,479 words
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Article, Illustration381 2010-07-24 4 Audrey Phoon - Where to buy and eat region-centric fare By Audrey Phoon aphoon@sph.com.sg EAT IN ??More than a few farms within driving distance offer organic vegetables fresh from the ground, or they’ll deliver their greens to your doorstep. Try Bollywood Veggies (www.bollywoodveggies.com, 6898-5001) in Kranji for fruit vegetables such381 words
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Article817 2010-07-24 4 wine dine with BTWeekend Bar on 5 Level 5 Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage817 words
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KL HAWKER GUIDE
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Article, Illustration1643 2010-07-24 6 / 7 Joyceline Tully - trails The famous noodle dish sang har meen comes with the sweetest, juiciest udang galah in KL and PJ. By Joyceline Tully By Joyceline Tully btnews@sph.com.sg FORMIDABLE-lookingwhen raw but sweet and juicy when properly cooked, tai tou har–alsoknownvariously as freshwater prawn, giant river prawn or udang galah isPHOTOS BY JOYCELINE TULLY - 1,643 words
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KEPPEL • CLIPPER ROUND THE WORLD
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Article, Illustration1257 2010-07-24 8 / 9 Vincent Wee - Crews and organisers alike were in a contemplative mood as they reflected on one of the most eventful races ever. By Vincent Wee By Vincent Wee IT’S finally really over. The tureofalifetimeformost,andcertainly at the very least an unforgettable experience for every one of the crewPHOTOS: ONEDITION - 1,257 words
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Article560 2010-07-24 8 / 9 Vincent Wee - By Vincent Wee ADRIAN Tan, the final Keppel ambassador could not have come onboard the boat at a better time. As soon as he stepped onboard, the team won the race from Jamaica to New York, notching up their first ever top place finish. He continued560 words
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SHOPPING
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Article, Illustration785 2010-07-24 10 / 11 Audrey Phoon - The success of leading luggage maker Rimowa lies in its ultra lightweight polycarbonate suitcases. By Audrey Phoon By Audrey Phoon Rimowa is at #02-19 Mandarin Gallery and #01-68 Millenia Walk aphoon@sph.com.sg FOR most people, travelling light usually means not packing that extra suit or five pairs of shoesYEN MENG JIIN - 785 words
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Article, Illustration801 2010-07-24 10 / 11 Melissa Lwee - Worried that you won’t be able to find your luggage or that it’ll be stolen? Tired of the hassle of having your laptop checked? Three suitcase makers put your fears to rest. By Melissa Lwee By Melissa Lwee mellwee@sph.com.sg Samsonite Given the requirement that laptops have to801 words
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DESIGN
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Article, Illustration1561 2010-07-24 12 / 13 Lim Sio Hui - one British Two furniture luminaries in town last week one British, one Italian suggest their national backgrounds have shaped their design attitudes. By Lim Sio Hui By Lim Sio Hui btnews@sph.com.sg Brit courage MATTHEW Hilton doesn’t really do things the conventional way. The 57-year-old, who was awarded thePHOTOS OF MATTHEW HILTON AND MASSIMO SCHOLARI BY JOHN HENG - 1,561 words
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GADGETS
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Article, Illustration1000 2010-07-24 14 Christopher Lim - Here’s what you need to know about Apple’s iPad, which went on sale here yesterday. By Christopher Lim By Christopher Lim limchris@sph.com.sg FANS of Apple’s iPhone and iPod touch hungry for more screen real estate had reason to cheer yesterday when the iPad went on sale here. The1,000 words
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HEALTH
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Article, Illustration1006 2010-07-24 15 Cheah Ui-Hoon - More patients are turning to mobile healthcare to meet their medical needs. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg THEH1N1scarein2007intro-duced Rinny Dale to medical care at home. “At that time, I was concerned that going to the hospital would actually be dangerous for my health,”1,006 words
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SPORT
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Article, Illustration655 2010-07-24 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor THEY created quite the commotion at the recent World Cup. But to the relief of most, they won’t be seen or heard at many stadiums when the new English Premier League (EPL) season kicksAP - 655 words
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604 2010-07-24 16 AP Dubai THE four Asian countries bidding to host the 2022 World Cup already have enough to be concerned about with demands for stadiums, hotels and transport networks and strong contenders from other confederations. Now, they have to worryAP - 604 words
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GOLF
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Article, Illustration1142 2010-07-24 17 Justine Moss - Louis Oosthuizen, winner of last week’s Open, is certainly not the first golfer from the Rainbow Nation to make his mark in professional golf. By Justine Moss By Justine Moss btnews@sph.com.sg WHEN Louis Oosthuizen walked up the 18th fairway at St Andrews last Sunday while leading thePHOTOS: AFP, AP, REUTERS - 1,142 words
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MOTORING
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Article, Illustration474 2010-07-24 18 Samuel Ee - The world’s first BMW M showroom was painstakingly conceived and executed over six months. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE new BMW M showroom may have cost $7 million to set up but it was worth every cent. “This is the epitome of the M brand,”474 words
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Article, Illustration644 2010-07-24 19 Samuel Ee - Jaguar has made a quantum break from the past and the XJ full-size saloon is all-new. By Samuel Ee By Samuel Ee samuelee@sph.com.sg ONLY two things seem to have been carried over to the new Jaguar XJ from its predecessor its name and the leaping cat ornament.644 words
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Article, Illustration556 2010-07-24 20 Samuel Ee - Sebastian Vettel seems the best chance for Germans to hear their national anthem being played at the end of the race. By Samuel Ee f1 watch| By Samuel Ee samuelee@sph.com.sg THE German Grand Prix arrives at the Hockenheim circuit this weekend but few know that thePHOTOS: AFP, AP - 556 words
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Advertisement342 2010-07-24 5 StarHub* REWARDS You can SbarHub V 1 a V* zs ft Venue: Viet Lang Restaurant Date: 17 July, Sat 7pm Price: SOtO [Ch 433) Luke Nguyen's Vietnam Mondays, 9pm t j. s J i i NATURALLY VIET with an A gastronomic dinner the freshest organic ingredients. A MEATING WITH ROBERT342 words
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Advertisement8 2010-07-24 8 / 9 this series is brought to you by www.marinakeppelbay.com8 words
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