The Business Times, 21 December 2010

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Total Pages: 28
1 28 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|5l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Tuesday, December 21,2010
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  • 962 1  -  But rentals will hold firm as medium-term prospects are strong By KALPANA RASHIWALA [SINGAPORE] Office vacancy rates in the Central Business District are expected to rise next year as space vacated in older office blocks returns to the market, with
    Source: CB Richard Ellis  -  962 words
  • 142 1 HST INDEX 3,132.96 (-20.05) HST INDEX FUTURES 3,127 (-20) HSIMSCI 369.92 (-2.87) HSIMSCI FUTURES 369.10 (-2.60) FOREX US$ S$ US$ (S$ per US$) 1.320 (US$/S$ per 1.554 2.051 EURO (US$/S$/E) 1.317 1.738 Foreign currency per US$ S$ YEN 83.90 63.50 RM 3.147 2.384 HK$ 7.779 5.892 BAHT 30.19
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  • 716 1  -  By NISHA RAMCHANDANI [SINGAPORE] Walking in a Winter Wonderland it is not just a song this Christmas. More Europe-bound flights out of Singapore were affected yesterday as wintry weather continued to cripple airports such as London’s Heathrow and Amsterdam’s Schiphol just
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  • Page 1 Advertisements
    • 150 1 LEADERS’ PERSPECTIVE Fishing for the right talent PAGE 28 SME INC Efforts in corporate social responsibility PAGE 9 INDUSTRIAL SPACE Sharpening Jurong Island’s edge PAGE 26 RETAIL FairPrice in venture to set up hypermarts in Vietnam PAGE NARDIN LE LOCLE SUISSE m V.,.. v^ 07 7\ S> 11 1 75///
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  • TOP STORIES
    • 589 2  -  Under the deal with Saigon Co-op, first store is expected to open by 2012 By GRACE LEONG [SINGAPORE] Seven years after NTUC FairPrice Cooperative Ltd entered into its first hypermart joint venture in China, the Singapore grocery retailing giant is
      FILE PHOTO  -  589 words
    • 511 2  -  By PAULINE NG THE Malaysian stock market’s 18 per cent gain year-to-date notwithstanding, more than half of the initial public offerings (IPOs) this year have under-per-formed and are currently trading below their offer price. Spurred by better economic conditions, 29 companies chose to list
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    • 474 2  -  By S JAYASANKARAN THE federal government will make Penang its “preferred hub” in the northern region, Prime Minister Najib Razak announced yesterday. The Malaysian Prime Minister said that several development strategies had been drawn up to stimulate the state’s economy and to create
      AFP, FILE PHOTO  -  474 words
    • 709 2 Office vacancies in CBD to rise on a short-term blip OFFICE vacancy rates in the Central Business District are expected to rise next year as space vacated in older office blocks returns to the market, with occupiers moving into new developments. Any uncommitted space in the upcoming developments
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    • 573 2 AFP [SEOUL] South Korea’s coast guard yesterday announced a new crackdown on illegal fishing in the Yellow Sea following a deadly clash with Chinese fishermen last week. The three-day exercise involves 18 ships, two helicopters, and about 200 personnel, a coastguard
      AFP  -  573 words
    • 662 3  -  Debt-laden TTI’s survival could be at stake without $150m for Big Box project By VEN SREENIVASAN [SINGAPORE] In a move which could be the straw that finally breaks TT International’s back, mainboard-listed Boustead Singapore has pulled out of its plans to
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    • 546 3  -  The economic crisis gives them renewed status and influence By MICHELLE QUAH [SINGAPORE] Accountants will be taking on more strategic roles in the future, according to an Association for Chartered Certified Accountants (ACCA) survey of more than 500 senior business people such as
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  • COMPANY NEWS
    • 307 4  -  Unit which did the 7.8b yen purchase now has 53.8% voting rights in TFK By VEN SREENIVASAN SATS Ltd has completed the acquisition of Japan Airlines International’s entire stake of 50.7 per cent in TFK Corporation. The 7.8 billion yen (S$122 million) purchase, through wholly
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    • 319 4  -  By LINETTE LIM LMA International has unveiled plans to acquire US medical device manufacturer and distributor Wolfe Tory Medical. The provider of supraglottic airway management devices said yesterday that talks are at an advanced stage. LMA said the expected cash consideration is
      319 words
    • 308 4  -  By FELDA CHAY SINGAPORE Technologies Engineering (ST Engineering) has won five contracts worth $110 million. These contracts are not expected to have any material impact on the group’s earnings for the current financial year. One of the awards for ST Electronics came from
      308 words
    • 214 4 MORGAN Stanley Asia (Singapore), the stabilising manager for Amtek Engineering’s initial public offering, has bought another 320,000 shares in the precision engineering group. The latest announced purchases on Dec 17 in a series of stabilising actions saw Morgan Stanley purchasing the shares
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    • 482 4 Reuters [SINGAPORE] XinRen Aluminium, a Singapore-listed aluminium producer, is looking to build or acquire a fourth smelting plant in China, South-east Asia or Saudi Arabia, company officials said. The China-based firm currently has two smelting plants, which produce primary aluminium such
      Reuters; BLOOMBERG  -  482 words
    • 195 4 WILMAR International is partnering UK-based PZ Cussons plc which is listed on the London Stock Exchange to set up a palm oil refinery as well as a food ingredients business in Nigeria. Wilmar is investing US$27.5 million, with funding to stem from internal sources
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    • COMPANY BRIEFS
      • 150 4 CONTEL Corporation’s shares retreated 12.5 per cent to 3.5 cents yesterday after 12.6 million shares changed hands. This comes after the company highlighted uncertainties surrounding its proposed US$1.2 billion reverse takeover deal. The stock of Contel surged as much as 50 per cent
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      • 109 4 HOE Leong Corporation has signed a sale and purchase agreement to acquire a 51 per cent stake in Aries Offshore Singapore for US$15.1 million. The remaining 49 per cent stake in Aries Offshore is held by a subsidiary of offshore marine
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    • 357 5  -  Speculation sparked by news of a ‘possible acquisition of shares’ in the firm By JOYCE HOOI SHARES in Kim Eng Holdings surged 6.25 per cent or 14 cents to $2.38 in trading yesterday, as a “possible acquisition of shares in the capital of
      357 words
    • 756 5  -  HOCK LOCK SIEW By WINSTON CHAI IF there’s a cruel parallel to be drawn between the target audience of Creative Technology’s latest gizmo and its current plight, it would be that the company is becoming increasingly disconnected. Instead of taking random pot-shots, Creative should focus
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    • 345 5  -  It will hold 16% of China Eastern Airlines’ unit with its investment of 328m yuan By VEN SREENIVASAN SINGAPORE Airlines Cargo (SIA Cargo) is planning to buy a 16 per cent stake in Shanghai-based China Cargo Airlines Co Ltd, a subsidiary of China
      BLOOMBERG  -  345 words
    • 715 7  -  But practitioners lament exclusion of portfolio hedge accounting in draft By MICHELLE QUAH THE Singapore public have until the end of January next year to submit their feedback to a long-awaited international proposal to revamp hedge accounting, used by businesses which hedge against
      BLOOMBERG  -  715 words
    • 230 7 TWO big boys will join hands to play games that will pay. They are working toward developing a technology that could change the way you use your mobile device and gaming systems. The players in question are the Institute of Microelectronics (IME), a research institute
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    • 430 7  -  Worst hit area is Marina Bay-Raffles City with 2% fall By KALPANA RASHIWALA THE COMPLETION of over four million sq ft of retail space in Singapore in the past two years kept the lid on retail rents as a whole here this year. The
      430 words
    • 389 8  -  Move to give them the right to demand that sellers repair or replace goods By TEH SHI NING PROPOSED changes to Singapore’s consumer protection law will give buyers greater recourse to legal remedy should they land a “lemon” or defective good. The
      389 words
    • 486 8  -  By LYNN KAN COST uncertainty is the most important concern for suppliers, ahead of labour costs and quality say nearly half of KPMG’s 196 senior manufacturing executives in KPMG’s global manufacturing outlook. To smooth out that unknown, 41 per cent of respondents say they
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    • 361 8 Report finds telcos and tech firms spent $8m in H1 2010 WHEN it comes to embracing technology, local telcos appear to be walking the talk as they are outspending their peers when it comes to the emerging medium of Internet advertising. T
      361 words
    • SINGAPORE ROUNDUP
      • 73 8 THE Central Provident Fund (CPF) Board has added a win in the Stockholm Challenge 2010 Awards, Public Administration category, to its many accolades. The Stockholm Challenge is an international award that recognises projects using ICT to improve people’s socio-economic conditions. The Public Administration Category
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      • 75 8 THE Lion City Hotel and the Hollywood Theatre site have just been granted outline permission for “Residential with Commercial at 1st storey” use at GPR 3.0. This is a new development option allowed by the URA. The tender closing date will now be
        75 words
      • 96 8 NUS Business School’s Team Trinity is the newly crowned overall champion of the highly competitive University Investment Research Competition (UIRC) organised by CFA Singapore. Organised annually, the competition requires analytical, research, and presentation skills. Comprising of final and penultimate business and double degree students, Team
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  • Page 4 Advertisements
    • 104 4 m I Software Korea The mission of the KOREA TRADE-INVESTMENT PROMOTION AGENCY(KOTRA) is to establish successful global business partner? Founded in 1962, KOTRA operates 99 overseas Korean Business Centers (KBC) in 72 countries around the world. In the field of Software and IT, KOTRA is continuously promoting business collaboration to
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  • Page 5 Advertisements
    • 79 5 m MARKETS get thinking FX/CFD trading Trade Singapore share CFDs with 0.15% commission SiMSCi CflCf SP-,5.54 D® 13.80 CEN5 1.35 N0B g 2.C STEU 1? Guaranteed market price for all share CFDs Award-winning online platform with DMA No GST, no exchange fees, no clearing fees Find all you need to
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  • SINGAPORE MARKETS
    • 619 6  -  Local index stages modest rebound after Hang Seng Index closes off the day’s low STOCKS R SIVANITHY Senior Correspondent A QUIET session yesterday saw the Straits Times Index (STI) display its customary dependence on Hong Kong for direction, with the result that
      Source: Bloomberg  -  619 words
    • 4 6 DAILY
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    • 64 6 Dec 20 VALUE CLOSE BT OB/OS -41.00-160.00 BT CADI -*****.00-156.00 BT 10-day MA -*****.00 -4.00 FTSE ST Mid Cap 786.60 -5.31 FTSE ST Small Cap 584.36 -7.01 FTSE ST All Share 777.07 -5.29 FTSE ST China Top 291.78 -4.96 FTSE ST China 325.59 -3.46 FTSE ST Catalist
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    • 58 6 VOLUME Genting SP 77,100,000 Golden Agri 49,343,000 Transcu Grp 35,267,000 SingTel 35,225,000 BerlianLaju 26,920,000 GMG Global 18,656,000 XinRen 18,561,000 STXOSV 18,544,000 China Hongxing 17,824,000 Biosensors 16,911,000 VALUE($) Genting SP 160,034,750 DBS Grp 140,764,380 SingTel 108,674,938 OCBC Bk 61,822,580 UOB 47,618,152 Keppel Corp 38,182,730 Golden Agri 37,294,225 SGX
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 8 3 0 0 0 4 8 3 Manufacturing 25 81 71 4 7 9 29 88 80 Commerce 13 25 28 3 3 4 16 28 32 Tpt/Stor/Comms 11 19 11
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    • BROKERS’ TAKE
      • 281 6 DBS Group Research, Dec 20 AT A market capitalisation-weight-ed price/RNAV multiple of 0.83 times and P/B multiple of 1.13 times, the sector is trading at mid-cycle valuations. Stock performance will continue to be led by volatile macroeconomic news flow and we advocate a selective stock-picking stance. We view
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      • 582 6  -  Compiled by CONRAD TAN Dec 20 close: S$4.98 Phillip Securities Research, Dec 20 WE VISITED Sembcorp Industries’ key utilities facilities on Jurong Island on Dec 17. It has a cogeneration plant that can produce power and steam at the same time for customers on Jurong Island. The fuel
        Source: Bloomberg  -  582 words
    • 123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 23,055 23,055 63,254 63,254 Manufacturing 284,686 16,641 301,327 205,327 907 206,234 Commerce 69,467 19,490 88,957 88,018 1,377 89,396 Tpt/Stor/Comms 132,790 957 133,747 231,760 195 231,955 Finance 34,897 450 35,347 302,531 59 302,589 Construction 16,893 2,956
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    • 113 6 Stock name Close Change CapMallsAsia 1.870 +0.030 CapitaLand 3.630 +0.010 CapitaMall 1.850 -0.030 CityDev 12.740 -0.180 ComfortDelGro 1.540 -0.030 DBS Grp 14.300 -0.100 F&N 6.130 Genting SP 2.080 -0.030 Golden Agri 0.755 -0.015 HK Land 6.780 -0.070 JMH 43.360 -0.140 JSH 26.000 -0.200 Jardine C&C 35.520
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    • 480 6 CURRENCIES Bloomberg [BANGKOK] Asian currencies yesterday weakened for a second day, led by Singapore’s dollar and Malaysia’s ringgit, on concern Europe’s debt crisis will worsen, bolstering demand for the relative safety of the dollar. The Dollar Index, which tracks the greenback against those
      Bloomberg; AFP  -  480 words
    • 109 6 BY CENTS CLOSE UP GLD 10US$ ***** 110.9 0.6 IS S&P500 ***** 92.4 0.6 IS DJ US Tech 6433 73.9 0.9 DBXT FTVietnam 10US$ 3750 30.4 0.6 SIA 200 1522 16.0 1.1 Kim Eng Hldgs 238 14.0 6.3 DBXT MSTaiwan 10US$ 1934 11.9 0.5 DBXT S&P500 10US$ 1955 10.6
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    • 114 6 BY CENTS CLOSE DOWN DBXT Nifty 10US$ ***** -95.0 -0.5 CityDev.ES.1012 1272 -30.0 -2.3 JSH 2600 -26.4 -0.8 STXPO 100 1322 -26.0 -1.9 DBXT SPASX200 10US$ 3356 -25.1 -0.6 IS MSCI Spore 1333 -25.1 -1.4 Keppel Corp 1060 -20.0 -1.9 JMH 4336 -18.5 -0.3 CityDev 1274 -18.0 -1.4 UOB
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 196 7 >2010i IB Facility of the Year Awards CATEGORY WINNER Project Execution •Supplier BCA GREEN MARK WSH\ A ™s Performance SHARP Bovis Lend Lease 2010 Facility of the Year Awards Overall Winner Genentech's ECP-1 Bacterial Manufacturing Facility, Tuas, Singapore Awarded by International Society of Pharmaceutical Engineering (ISPE) Second Consecutive Year Roche/
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  • Page 8 Advertisements
    • 603 8 r it Advertisement ing over your s solutions to prbteit ydur fiusihess With years of experience in delivering optimal security solutions, AETOS provides the assurance and expertise you need to grow your business with confidence. That's why we have a wide range of services to help you manage every aspect
      603 words

  • SME Inc
    • 1129 9  -  SMEs move from the idea of doing good to doing CSR, and industry watchers are hopeful that more will make that leap, reports MIAK AW SMEs AND THEIR CSR EFFORTS MIAK AW NG Chye Mong, a 70-year-old food trading and distribution company, is a
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    • 691 9  -  Company’s efforts to spread the CSR message bear fruit By MIAK AW AS founder of Greenpac, a company that provides eco-friendly industrial packaging products and solutions, Susan Chong was well aware of the problem that plagued the industry eight years ago. Many companies were
      691 words
    • 689 10  -  Brand consultancy firm A.S. Louken’s CEO tells MIAK AW how his company builds up the culture of giving back to society MIAK AW A.S.LOUKEN helps clients to live up to their brand value. When CEO Luke Lim introduced a series of CSR initiatives to his brand and
      689 words
    • 521 10  -  By TEH HOOI LING MOUNTING concerns on Europe’s debt crisis and tension in the Korean peninsula weighed on sentiment, causing Asian stock prices to decline. Our small cap portfolio slid one per cent, proving to be slightly more resilient than the FTSE ST
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    • 1035 10  -  These can be achieved with top level direction, dedicated resources and steady, transparent information flow COMMENTARY By ROBERT K FLEMING The writer is adjunct associate professor in the department of marketing, NUS Business School. He teaches ethics and corporate social responsibility, and also specialises in
      FILE PHOTO  -  1,035 words
    • 605 11  -  Jason Parquet seeks listing, CozyCot plans expansion overseas Reports by CHEN HUIFEN TWO homegrown firms will be celebrating Christmas this year with added joy, having received recent fund injections from strategic investors that will help them with their next stage
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    • 463 11 SIRIUS Group’s latest venture in Jason Parquet Specialist stood out as the latter is one of the few non-food-related firms that has caught its eye. Through various vehicles, Sirius Group has made a series of investments in food companies, such as
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    • 1025 11 THIS WEEK’S TOPIC According to a recent DP Credit Bureau report, the average time taken by companies here to pay their debts has risen to a five-year high of 66 days in Q3 this year, up from 63 days last year and 57 in 2008. Is the
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  • Page 9 Advertisements
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  • Page 11 Advertisements
    • 96 11 Voices Next week’s topic: “Do you think there is scope for SMEs to engage in CSR efforts? What are some of the interesting CSR ideas or activities that you have encountered or that your company has done?” If you are an SME owner or leader, we would like you to
      96 words
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  • ECONOMY WATCH
    • 488 12 Analysts cite EU credit crisis, US economic revival for the sharp difference Bloomberg [LONDON] Relative yields on European investment grade company bonds are the highest ever compared with US debt as the region’s deficit crisis worsens and the US economy revives. Investors
      Bloomberg  -  488 words
    • 498 12 Bloomberg [LONDON] International banks led by BNP Paribas SA are lending the most in Russia since 2008, turning to companies in the world’s biggest energy-exporting economy for higher returns as loan rates tumble in Europe. Russian companies borrowed US$10.1 billion this
      Bloomberg; AP  -  498 words
    • 318 12 Reuters [MANILA] The Philippine central bank is willing to allow the peso to adjust but could also step in to buy US dollars to curb the impact of strong capital inflows, deputy governor Diwa Guinigundo said yesterday. Strong capital inflows into the Philippines could possibly
      Reuters  -  318 words
    • 463 12 Bloomberg [BANGKOK] Thailand’s export growth accelerated in November as Asian demand supported sales, justifying the central bank’s move to raise interest rates earlier this month. Overseas sales increased 28.5 per cent last month from a year earlier to US$17.7 billion after rising 15.7 per
      Bloomberg  -  463 words
    • 267 12 Reuters [HELSINKI] Finland yesterday raised its 2010 and 2012 growth forecasts due to a pick-up in global trade, but warned that its public finances would stay in deficit for the two years as the country recovers from the economic downturn. The Finance Ministry said that it
      Reuters  -  267 words
    • 740 12 Reuters [TORONTO] Once an obscure corner of the mining industry, rare earths exploration burst on to the front pages this year, sending shares of a group of junior Canadian miners soaring. The remarkable rally was triggered by a diplomatic dispute that
      Reuters  -  740 words
  • Page 12 Advertisements
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    • 21 12 Hot IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
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  • MALAYSIA/INDONESIA
    • 701 13  -  It is targeted at being the base for at least seven higher education institutes By MALMINDERJIT SINGH EDUCATION is increasingly becoming an important sector for economic growth, and like many of Asia’s economies, Malaysia too is positioning itself as an
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    • 318 13 Bloomberg [SINGAPORE] TPG Capital and its Indonesian partner, Northstar Pacific Partners, plan to boost investments in resources firms and companies set to benefit from growing consumption in South-east Asia’s largest economy. Jakarta-based Northstar plans to raise US$500 million for its third fund, which will
      Bloomberg  -  318 words
    • 143 13 Bloomberg [JAKARTA] Bank Indonesia said it may announce changes in lenders’ foreign-exchange reserve requirements before the end of the year amid efforts to manage the amount of excess liquidity in the financial system. The central bank may also unveil changes in regulation of
      Bloomberg  -  143 words
    • 347 13 Bloomberg [KUALA LUMPUR] Plus Expressways Bhd, Malaysia’s biggest toll-road operator, received a RM26 billion (S$10.7 billion) takeover offer from Jelas Ulung Sdn, topping an earlier bid by UEM Group Bhd and the Employees Provident Fund (EPF). Jelas Ulung offered the equivalent of
      Bloomberg; REUTERS  -  347 words
  • Page 13 Advertisements
    • 111 13 changiairport.com f 0*a m v\ %\m jjjj: I 5 I: l!|!/m T e r»i 7 S22ft* O -v.v.v.v.* -v.v.v r u It's been a magnificent journey together. -•S|r2|:* Changi Airport congratulates Qantas 4 on its 90th anniversary. rjMi Changi Airport is proud to be in longstanding partnership with Qantas. 75
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  • GREATER CHINA/INDIA
    • 641 14 Bloomberg [NEW YORK] Las Vegas Sands Corp, the biggest developer on Macau’s Cotai Strip, said recent curbs on land concessions signal that the regional government is seeking more “orderly growth” of new casino resorts. Macau the only part of China where
      Bloomberg; BLOOMBERG  -  641 words
    • 468 14 He offers to be questioned by parliamentary panel to clear the air AFP [NEW DELHI] Indian Prime Minister Manmohan Singh yesterday said he had “nothing to hide” as he offered to be quizzed by a parliamentary panel over a
      AFP  -  468 words
    • 818 14 AP [GUANGZHOU] China’s second major car show for 2010 kicked off yesterday in the southern city of Guangzhou, capping a year of record sales for the country’s booming car market even as it faces the prospect of slowing growth. Unlike its
      AP; BLOOMBERG  -  818 words
    • 401 14 It’ll lead to sharing data, developing vaccines: officials AP [TAIWAN] A senior Chinese envoy arrived in Taiwan yesterday to sign an agreement on sharing medical information and cooperating in the development of new drugs, amid rapidly improving ties between the once bitter
      AP  -  401 words
    • 642 14 India needs less coal as rains boost power generation by water AP Bloomberg [SHANGHAI] China’s coal imports may jump 60 per cent next year on strong demand from power plants, said UOB Kay Hian Ltd. China’s overseas coal purchases may rise to
      AP; Bloomberg  -  642 words

  • WORLD
    • 544 15 Consumers spending more freely as economy improves Bloomberg [WASHINGTON] Santa’s gift bill is looking a little larger this holiday season. With consumers spending more freely again, Wal-Mart Stores and Saks Inc are among the retailers which so far have avoided the profit-eating discounts that
      Bloomberg; AFP  -  544 words
    • 283 15 Kingdom’s stimulus plan spurring borrowers to tap bond market for expansion Bloomberg [DUBAI] Saudi Arabia may overtake Malaysia as the largest issuer of Islamic bonds for the first time next year as the kingdom’s 1.44 trillion-riyal (S$503 billion) stimulus plan boosts spending. Saudi Electricity
      Bloomberg  -  283 words
    • 593 15 Strong correlation across asset classes seen unravelling next year Reuters [NEW YORK] Investors will be taking advantage of some of the last remaining trading days of the year to place their bets on what will be the winners of 2011. One of
      Reuters  -  593 words
    • 671 16 He also dismisses a break-up of the eurozone as an ‘absurd hypothesis’ Reuters AFP [PARIS] European Central Bank (ECB) head JeanClaude Trichet said yesterday eurozone countries must do more individually and collectively to combat the bloc’s debt crisis, and Ireland
      Reuters; AFP; AP  -  671 words
    • 400 16 Reuters [TOKYO] Scandal-plagued Japanese power-broker Ichiro Ozawa rejected yesterday a call from Prime Minister Naoto Kan to appear before a parliamentary ethics panel, threatening to widen a rift in the fractious ruling party. Mr Kan, who took office in June as Japan’s fifth prime
      Reuters  -  400 words
    • 509 16 Live-fire exercises by Seoul carried out without incidents AP [YEONPYEONG ISLAND, South Korea] South Korea’s military staged live-fire drills from an island just kilometres from rival North Korea’s shores yesterday, but Pyongyang said it would not strike back despite earlier threats to
      AP; AFP  -  509 words
    • 425 16 Reuters [LONDON] The Confederation of British Industry (CBI) yesterday downgraded its forecast for UK growth to 0.2 per cent for the first quarter of 2011 but said that it expected interest rates to rise in the first half of the year. The employers group
      Reuters  -  425 words
  • Page 15 Advertisements
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  • AVIATION
    • 293 17 Benchmarking tour helps key suppliers competitively position themselves Bernama [KUALA LUMPUR] Boeing recently held its first Southeast Asian Aerospace Industry Benchmarking Tour in Malaysia to foster supplier partnerships and enhance Malaysia’s position as a global aerospace manufacturing hub. Boeing’s objective in organising the
      Bernama; AP  -  293 words
    • 304 17 AFP [HONG KONG] Cathay Pacific and its pilots union have reached a tentative pay deal, a company spokeswoman said yesterday, averting possible labour action over the busy holiday period. The Hong Kong-based carrier’s pilots must still vote in favour of the deal
      AFP; BLOOMBERG  -  304 words
    • 130 17 Xinhua [HONG KONG] Hong Kong’s Civil Aviation Department (CAD) said yesterday that it had approved an increase in passenger fuel surcharges levied by All Nippon Airways, Cathay Pacific and Singapore Airlines, which would take effect in January next year. The new maximum levels
      Xinhua  -  130 words
    • 167 17 Xinhua [CANBERRA] Australian federal government yesterday approved the master plan for Darwin International Airport in Northern Territory. According to Infrastructure and Transport Minister Anthony Albanese yesterday, the airport is an important piece of economic infrastructure for northern Australia, which will also play a vital
      Xinhua  -  167 words
    • 3236 17 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1230 KU6458 1425 --SQ458 1425 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7278 1745 VS7279 2350 9W4081 1830 AF8087 1830 BA7381 1830 JL5084 1830 MU8213 1830 QF81 1830 Ahmedabad NH6292 1850 SQ530 1850 Amsterdam LO4031 0605
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    • 290 17 Bloomberg [WASHINGTON] US Transportation Department inspectors will investigate federal oversight of maintenance performed for US passenger airlines by outside contractors. Calvin Scovel, the inspec-tor-general who last year told Congress that “safety oversight and security of repair stations cannot be ensured”, will open a review of
      Bloomberg  -  290 words
    • 3402 18 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. **********0W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination DING XIANG HAI Camden/New Orleans/Tampico *Loads
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  • Page 17 Miscellaneous
    • 341 17 CRYPTIC CROSSWORD Across 1 Virtually a stray, welcoming freedom at last (6) 4 Upset to be packing fish that’s out of date (8) 10 City professor’s position on transport for the disabled (4,5) 11 Mock turtle’s original relative (5) 12 Song warning of dangerous seas (3,4) 13 Universal excitement following
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  • Page 18 Advertisements
    • 27 18 Shippers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 —~THE BUSINESS TIMES SHIPPING TIMES
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  • SHIPPING
    • 433 19 This paves way for group founder’s son to make a bid Bloomberg [SINGAPORE] Hyundai Group’s bid to buy control of South Korea’s largest builder has collapsed after it failed to allay concerns about how it would pay for the acquisition. Shareholders selling 35 per
      Bloomberg; REUTERS  -  433 words
    • 278 19 SGX '000 Dec 20 S$ +/-Vol CH Offshore 0.48 -0.01 261 Chuan Hup Hldg 0.23 0.01 202 Cosco Corp 2.03 -0.08 ***** CWT Ltd 0.98 -0.01 456 Ezra Hldgs 1.71 -0.01 2328 First Ship Lea 0.45 unch 89 Freight Links 0.08 unch 1659 Grand Banks unch unch 0
      278 words
    • 287 19 Bloomberg [SINGAPORE] Daewoo Shipbuilding Marine Engineering Co rose to a twoyear high in Seoul trading after a unit and partners got approval from Papua New Guinea to operate a floating liquefied natural gas (LNG) production unit off the country. Daewoo Shipbuilding, the world’s third-largest
      Bloomberg  -  287 words
    • 372 19 AP [SYDNEY] The number of asylum seekers believed killed when their boat smashed into rocky cliffs along an Australian island rose to 48 yesterday, as Prime Minister Julia Gillard warned that those still missing may never be found. Thirty bodies have been
      AP; REUTERS  -  372 words
    • 458 19 Vietnamese firm is waiting for creditors to respond on its deferral request AFP [HANOI] Vietnam’s near-ly-bankrupt shipbuilder Vinashin faced a debt payment deadline yesterday as wider economic fallout from the state-owned firm’s crisis prompted speculation of a government bailout. The firm was still awaiting a
      AFP  -  458 words
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  • EDITORIAL & OPINION
    • 483 20 EDITORIAL AGAINST the backdrop of falling expectations about America’s economic recovery, the deal between the White House and Republican Congressional leaders is a piece of good news. In exchange for President Barack Obama’s support for extending the tax cuts for the rich and a more
      483 words
    • 831 20  -  THE BOTTOM LINE YOGI AGGARWAL The writer is a Mumbai-based journalist who contributes regularly to BT IT is obvious that the Indian National Congress, the dominant partner in the country’s ruling coalition, is reeling from the latest corruption scandal. Sonia Gandhi,
      831 words
    • 1002 20  -  The main problem is reassuring the markets that sufficient finance will be available By STEFANO MICOSSI The author is director-general of Assonime, a business association and think tank based in Italy. This commentary was sourced from VoxEu.org, which features the views of prominent
      AP  -  1,002 words
    • 1446 21  -  Prime Minister Kan may find himself undone by party machinations ANTHONY ROWLEY Tokyo Correspondent IN an effort to reverse the rapidly declining popularity of his government, Japanese Prime Minister Naoto Kan has cast himself as what local media describe as “Action Man” by
      REUTERS  -  1,446 words
    • 1020 21  -  LETTERS TO THE EDITOR Benjamin Cheam Chief Operating Officer Institute of Certified Public Accountants of Singapore WE refer to the commentary “Narrow the audit expectation gap” (BT, Dec 6) contributed by Sovann Giang. There were several interesting points raised, and in
      1,020 words
    • 688 21  -  Bill Bowman I REFER to the article, “Narrow the audit expectation gap” by Sovann Giang (BT, Dec 6), expanding upon the Oct 13 European Commission Green Paper, Audit Policy: Lessons from the Crisis. Indeed, we should learn from the
      688 words


  • SINGAPORE STOCKS
    • 8934 22 Transaction date: Dec 20 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 3148 8Telecom 18 -0.5 255 18.5 18 18 18.5 1.7 10.1 5.8 86.2 12 4.5 5834
      8,934 words
    • 1675 23 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 7 4 1181 t AA Grp 5 4 5 27.8 4.8 225 130 6222 t APStrategic 162 +2 251 162 162 155
      1,675 words
    • 9440 23 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.33/ APS Alpha Fund (USD)!** 1.02/ APS Alpha Fund Cl B SGD!** 1.2/ APS Alpha Fund Cl B USD!** 0.89/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM
      9,440 words
    • 863 23 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 107 6389 ABF SG Bond ETF 110 110.1 112 502.1 1056 761 CIMBAsean40 100US$ US993 986 991 39.7 335 270 DBS STI ETF
      863 words
    • 254 23 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 38 6000 AVJennings A47.5 -3 1 47.5 47.5 46.5 50.5 3.6 7.4 3.8 123.7 55 16 6017 Genting HK US$ US42.5 -0.5 ***** 43.5
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  • FINANCE & COMMODITIES
    • 374 24 In local curr In S$ In US$ dy yr dy yr dy yr Dec 17 Index Change Change Change Change Change Change World Index Preliminary 892.3 -0.1 7.2 -0.4 0.9 -0.2 7.6 EAFE Preliminary 802.9 -0.3 2.3 -0.6 -3.8 -0.5 2.6 Europe Preliminary 1171.6 -0.4
      374 words
    • 180 24 Dec 20 $S Offer Bid 0vernight 0.03 0.01 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.06 US$ Offer Bid 7 days 0.35 0.25 1 month 0.42 0.32 2 months 0.43 0.33 3 months 0.46 0.36 6 months 0.56 0.46 9 months 0.80 0.60 12
      180 words
    • 24 24 Dec 20 S$ Bid Offer 1-month 1.3195 1.3206 2-months 1.3195 1.3206 3-months 1.3195 1.3206 6-months 1.3196 1.3207 Source: OCBC Source: OCBC
      24 words
    • 146 24 Dec 20 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 11 486.9 483.0 486.0 10 Feb 11 486.0 483.0 486.0 16 Mar 11 485.0 483.0 485.0 8 Apr 11 487.0 487.0 487.0 2 May 11 487.0 Jun 11
      146 words
    • 88 24 Dec 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 24.03.2011 0.38 0.42 0.41 1-Year BY*****N 01.11.2011 0.40 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 103.65 5-Year N*****0S 2.875 01.07.2015 106.86 106.95 106.95
      88 words
    • 107 24 Dec 17 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 11 1298.75 1289.00 1300.00 1283.50 Mar 11 1310.50 1300.50 1311.50 1295.00 May 11 1318.50 1307.00 1319.00 1302.25 Jul 11 1321.75 1309.25 1322.25 1305.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 11 54.13
      107 words
    • 77 24 CRUDE OIL PRODUCTS Dec 17 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 91.60 -0.32 WTI (Near Mth) 88.00 0.16 Dubai (1-Mth F) 89.32 0.49 Tapis blend 95.90 0.80 Minas 91.80 0.35 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 94.00 1.11 Jet Kerosene 103.70 0.50 US$/barrel Opec Oil
      77 words
    • 2382 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 4869 A-Sonic Aerospace W*****0 2 unch 1817 1 3 2.50 0 AFP Properties EW*****8 31.5 1 10 -3 1.37 59 6221 Asia-Pacific Strategic W*****6 31 0.5 12 1 150
      2,382 words
    • 121 24 Dec 20 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.345 1.269 Can dollar 1.326 1.275 Euro 1.766 1.699 Sterling pound 2.081 2.001 NZ dollar 0.995 0.948 US dollar 1.338 1.287 Local dollars to 100 units of foreign
      121 words
    • 27 24 Dec 20 Open High Sett STI Dec 3127 SIMSCI Dec 371.4 372.6 369.1 Taiwan Dec 314.0 315.1 312.4 Source: MF Global (S) Pte. Ltd
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    • 65 24 Dec 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 11 3577 3575 3623 3550 471 5232 Feb 11 3581 3562 3602 3535 3758 ***** Mar 11 3550 3518 3562 3495 9897 ***** Apr 11 3530 3491
      65 words
    • 420 24 Dec 20 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar11 99.5750 0 2471 Jun11 99.4550 0 1659 Sep11 99.3150 0 615 Dec11 99.1450 0 563 EUROYEN TIBOR FUTURES Mar11 99.6450 0 1994 Jun11 99.6300 0 1364 Sep11 99.6150 0 1033 Dec11 99.6050 5 385 Mar12 99.5950
      420 words
    • 464 24 Dec 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.001 6.604 0.752 7.700 44.919 89.541 0.830 11.436 3.115 1.338 84.834 43.924 1.307 6.793 0.957 29.669 29.882 0.637 0.990 Canada 0.999 6.597
      464 words
    • 85 24 Dec 20 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 139 24 Dec 20 GOLD (US$/oz) Dec 17 Dec 20 Hong Kong 1376.10 1386.80 Dec 16 Dec 17 London 1366.10 1365.54 1367.10 1366.31 Source: Thomson Reuters CAST BAR Dec 20 (S$) Selling Buying Kilobar 63,172.80 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 142 59 5gm 402 295 10gm 718
      139 words
    • 71 24 Dec 17 Dec 17 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2321.50 2303.25 3 months 2335.00 2318.00 Copper, Grade A (US$/tonne) Cash 9111.00 9030.50 3 months 9070.00 8991.00 Lead (US$/tonne) Cash 2426.00 2366.50 3 months 2420.00 2365.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
    • 154 24 Dec 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3060 1.3077 0.9897 0.9902 Canadian dollar 1.3047 1.3061 0.9887 0.9890 Euro 1.7371 1.7387 1.3164 1.3166 NZ dollar 0.9761 0.9776 0.7397 0.7403 Sterling pound 2.0504 2.0522 1.5538 1.5540
      154 words
    • 82 24 Dec 17 COCOA (£/tonne) Close Prev High/Low Mar 11 1983 2006 2012/1963 May 11 1996 2014 2020/1975 Jul 11 2007 2029 2034/1989 Sep 11 2014 2034 2018/1996 COFFEE (US$/tonne) Close Pev High/Low Jan 11 1973 1936 1999/1925 Mar 11 1986 1947 2013/1939 May 11 1995 1960 2019/1950 Jul 11
      82 words

  • PROPERTY
    • 984 25  -  Rust Belt town still reeling from mortgage crisis, weighed down by vacant houses and depressed values, reports SABRINA TAVERNISE SABRINA TAVERNISE NYT [YOUNGSTOWN, Ohio] IN its heyday in the 1930s, this Rust Belt town in America called itself the City of Homes, a
      NYT  -  984 words
    • 892 25 AFP [PHNOM PENH] STANDING knee-deep in dirty water, 60-year-old Men Chhoeuy uses a crowbar to dismantle his small wooden house on the edge of a lake in the Cambodian capital. He is the latest resident to give up the fight against a private company accused of spewing
      AFP; PHOTOS: AFP  -  892 words
    • 395 27 Beijing also orders local authorities to rein in rapid rises in land prices AFP [BEIJING] China has ordered local authorities to rein in rapid rises in land prices and pledged to crack down on shady developers, as Beijing struggles to keep a lid
      AFP; REUTERS  -  395 words
    • 369 27  -  Prices in segment still 20% below pre-crisis peak: CEO By UMA SHANKARI KOP Properties is upbeat about the prospects of Singapore’s luxury residential market, said the company’s chief executive Leny Suparman yesterday. “We are quite positive about the outlook for next year,” Ms
      PHOTOS: NG SOR LUAN/THE STRAITS TIMES  -  369 words
    • 642 27 Bloomberg [SHANGHAI] Shanghai Jin Jiang International Hotels Group Co plans to build the world’s highest hotel in the Chinese city that will displace the neighbouring Park Hyatt and the Ritz-Carlton that will open in Hong Kong in March. The venture with Shanghai
      Bloomberg  -  642 words
    • 321 27 Bloomberg [HONG KONG] Weekend transactions of used apartments in Hong Kong rose as an index tracking home prices in the city had its biggest weekly drop in more than six months, according to Centaline Property Agency Ltd. Sales at projects including Tai Koo
      Bloomberg  -  321 words
  • Page 25 Advertisements
    • 111 25 adv ft Ik Lianhe Zaobao 4>i!gegJiK8i China's fourth growth pole ChengduChongqing Economic ZoneExmiia go-ahead soon IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SINGSYSTEMS PTE. LTD. Company Reg. No. *****7759W (In Members’ Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the
      111 words
    • 1042 25 REALBTAR m t-. fv-. eiosingjsoorn! I Brand New II:s*****sqft/,1 OOQQsqfl VS. $24'5M Rare Plot! Prime Location! L: ***** B: 7000 4+1 Priced to sell! Land Swiss Club ***** /***** sf Land Whitehouse *****sf Hit me an Offer! Land (a) Nassim *****sf Closing Soon! OPEN H®MSE For Enquiry Pis Call: Serene
      1,042 words

  • INDUSTRIAL SPACE
    • 1026 26  -  UMA SHANKARI finds out how its Version 2.0 initiative aims to create a sustainable and competitive energy and chemical industry UMA SHANKARI THE “Jurong Island Version 2.0” initiative which aims to further boost the Singapore petrochemical industry’s competitiveness in the coming decade will be fleshed out
      FILE PHOTOS  -  1,026 words
  • Page 26 Advertisements
    • 224 26 2v -ip -,7<t 'K' E5M 20S sum •<v 52 s?« '*V "*V. *15 W5 z msMSt /<? *W> »k>p; ■.**r Fy mm m wmsaai 07 07 9fi Shop Dine Fusionopolis i5 BLACK CANYON COFFEE I MARKET PLACE @one-north B «,i» > n 8/vO N Fusionopolis 1 Fusionopolis Way, Connexis, (S)*****2
      224 words
    • 7 26 This series is brought to you by
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  • Page 27 Advertisements
    • 211 27 FOR SALE BY TENDER Lion City Hotel Hollywood Theatre Site Freehold site with following development options 1) Mixed Residential/Commercial (20%) on Plot A and Commercial on Plot B at average GPR 3.39 2) Commercial on Plot A and Residential on Plot B at average GPR 3.39 3) Residential with 1
      211 words

  • LEADERS' PERSPECTIVE
    • 1389 28  -  Qian Hu chairman and MD Kenny Yap talks to EMILYN YAP about grooming entrepreneurs and future leaders at his company EMILYN YAP IF you are a young person aspiring to a long and successful career at Qian Hu Corporation, here’s a piece of advice: Do
      YEN MENG JIIN  -  1,389 words
  • Page 28 Advertisements
    • 207 28 Performance Motors Limited Sheer Driving Pleasure pml-bmw.com.sg DM ***** I Performance Motors Limited. Sime Darby Performance Centre, 303 Alexandra Road. Tel: 6319 01 THE FOURTH PRINCIPLE OF LEADERSHIP FOCUS ON THE BIG PICTURE, When leaders expand their business empires, top on their priority list is to streamline existing processes and
      207 words
    • 7 28 This series is brought to you by
      7 words