The Business Times, 22 December 2011

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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|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Thursday, December 22,
    23 words
  • 987 1  -  As burnt European banks and corporates look to offload non-core assets, cash-rich Asian buyers step in to clinch the deals By JAMIE LEE [SINGAPORE] As the eurozone crisis points a gun to their heads, European banks and corporates may offload some of their Asian
    REUTERS  -  987 words
  • Page 1 Advertisements
    • 126 1 S’PORE NEWS Prime retail rents seen staying flat next year PAGE 12 HOCK LOCK SIEW Singapore Inc’s gag disorder PAGE 8 T XSS* Live at the centre of it all. Every SOHO is a hive of boundless creative energy. Diverse backgrounds 7 Far East r m r V Space Evolves.
      126 words
    • 153 1 BizIT VMware moving beyond virtualisation PAGE 25 -t** U'li E S IBEEZ! m Sg SCMRJ WE .B» *i,* T .<T«V J;; »»]ff!!!!!i!iminiiiBi)i HlSalali liiHJiiiiii"!'"' 'Hi ;j,;";:'!,: I If mm Mill ■Htiiii lllllll «<"' rr~ X: f r i. n .Ji'J A.v|f E W RiJVV V" Its impeccable and subtle styling
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    • 12 1 COMMENTARY Optimist dreams of a tranquil Asia PAGE 19 8 '*****1 *****4
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  • TOP STORIES
    • 601 2 Asia primed to buy European assets AS THE eurozone crisis points a gun to their heads, European banks and corporates may offload some of their Asian assets to Asian buyers, choosing survival over growth for now, market watchers say. Corporates in the region are also in talks to
      601 words
    • 963 2  -  Incentives include longer rent-free periods and more flexible lease terms By KALPANA RASHIWALA [SINGAPORE] As the office leasing market starts to weaken, some landlords have begun to offer bigger incentives to clinch tenants. They have increased agent commissions from one month’s rental to
      Source: CBRE Research  -  963 words
    • 629 2  -  By VICTORIA HO [SINGAPORE] The local company that could have beaten Apple to making the first tablet PC is having problems staying afloat. Fusion Garage CEO and co-founder Chandrasekar Rathakrishnan told BT that the firm is putting itself and its intellectual property
      FILE PHOTO  -  629 words
    • 645 2  - RECLAIMING SUCCESS Ta k ;;jj stock Malaysia Offshore projects to boost Benalec’s earnings A special series brought to you by Bursa Malaysia and ShareInvestor Its bid of RM4 million to build a helipad and jetty on a remote island off Kedah on Malaysia’s west coast for the Royal Malaysian Navy
      645 words
    • 141 2 GST INDEX 2,673.32 (+58.87) GST INDEX FUTURES 2,673.00 (+58.00) GSIMSCI 305.04 (+6.40) GSIMSCI FUTURES 305.20 (+6.70) PRIME RATES SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 15.081 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.52 INDIA 14.75 Source: Bloomberg KL COMP 1,484.98
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    • 851 4  -  Even European firms are lapping up flow of new millionaires and billionaires By SIOW LI SEN [SINGAPORE] The private banking business in Asia is recession proof, and if anyone still doubts its teflon status, just look at the 2011 operations. The rest of the
      851 words
    • 613 4 Reuters [SINGAPORE] Credit Suisse is buying HSBC’s private banking business in Japan, raising its profile in the world’s third-largest economy where it began onshore private banking just two years ago. HSBC, Europe’s biggest bank, said that the value of the gross assets
      Reuters  -  613 words
    • 501 4  -  Move could boost early foray into financial services By KENNETH LIM [SINGAPORE] Commodities logistics company CWT Ltd could buy embattled MF Global Singapore to give its fledgling broking business a shot in the arm. The company was one of about 50 interested parties
      501 words
    • 511 4  -  Money handy as buffer for downturn, war chest for potential acquisitions By EMILYN YAP [SINGAPORE] Large listed companies in Singapore have been hoarding cash at some of the fastest rates in the last two years, building up not just a buffer for the economic
      511 words
    • 468 4 Reuters [TOKYO] Japanese prosecutors raided offices of Olympus Corp and the home of a former executive yesterday in a probe into a US$1.7 billion accounting scandal that has threatened the survival of the once-proud camera and medical equipment maker. Tokyo prosecutors, police and financial
      Reuters; REUTERS/KYODO  -  468 words
    • 1118 6  -  Rollout of the 4G network can turn the situation in their favour By JOYCE HOOI [SINGAPORE] After spending the last two years bracing for regulatory upheaval and bottomline disruption from mounting data usage, the telcos might find things turning in their
      FILE PHOTO/BLOOMBERG  -  1,118 words
    • 680 6  -  By GRACE LEONG [SINGAPORE] Gaming analysts are cautiously optimistic about an all-clear given to a Macau unit of Las Vegas Sands Corp (LVS) after a nine-month probe by Hong Kong regulators ended late last week, as this removes only one of
      680 words
    • 555 6  -  Recovery has ‘paused’, says central bank, citing strong yen and eurozone crisis By ANTHONY ROWLEY in Tokyo THE impact of Europe’s problems began to show through more strongly yesterday as Japan reported a further drop in exports along with a rising trade deficit. Thus,
      555 words
    • 568 6 Bloomberg [PARIS] BNP Paribas, Societe Generale, Credit Agricole and Groupe BPCE, France’s biggest banks, are struggling to fund about 37 billion euros (S$63 billion) of debt payments due in the first quarter. As their access to US dollar short-term funds dries up, and
      Bloomberg  -  568 words

  • Page 3 Advertisements
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      195 words

  • Page 4 Advertisements
    • 23 4 Blueprint ERE Warehouse Space Required Fixed 5000 sq. ft. for Packaging inspection 500 sq. ft. for Office Call Ammy +91 ********** Email Ammy@blueprint.com.sg
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  • Page 5 Advertisements
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      286 words

  • Page 6 Advertisements
    • 455 6 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AYZA CONSOLIDATORS PTE LTD (In Members’ Voluntary Liquidation) Company Reg. No. *****3637H At an Extraordinary General Meeting of the members of AYZA CONSOLIDATORS PTE LTD duly convened and held at 32 Tuas West Road #0102, Singapore *****7 on 19
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    • 275 6 THE COMPANIES ACT (CAP. 50) DVA ASIA PTE LTD COMPANY REG. NO: *****4985Z (MEMBERS’VOLUNTARY WINDING UP) At an Extraordinary General Meeting of the Members of DVAASIA PTE LTD duly convened and held at 701 Geylang Road #04-04 Singapore *****7 on Wednesday, 14 of December 2011 at 11.00 a.m. the following
      275 words

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  • COMPANY NEWS
    • 698 8  -  HOCK LOCK SIEW By JOYCE HOOI WHEN the lights winked out on SMRT trains last Thursday, passengers and the public were kept in the dark in more ways than one. Public outrage predictably ensued, and SMRT has made all the appropriate noises on Twitter where its
      698 words
    • 334 8 The US bank is a member of MF Global’s creditors committee Bloomberg [NEW YORK] JPMorgan Chase Co, a lender to bankrupt MF Global Holdings Ltd, asked a judge if it can trade claims on the company, including its bank loans
      Bloomberg  -  334 words
    • 772 8 NYT [NEW YORK] Federal authorities investigating the collapse of MF Global have uncovered e-mails that detail the transfers of money in the firm’s last days, including transfers that contained customers’ money, according to people close to the investigation. One e-mail chain refers
      NYT; AFP  -  772 words
    • 562 8  -  By LYNN KAN MRT commuters who have stayed away because of the slower and less frequent service after two major train disruptions have some reason to hop back on board. Last night, SMRT announced it will try upping train speeds over
      562 words
    • 664 9  -  China Sky says SGX has failed to justify order; trading resumes today By JAMIE LEE IN a follow-up response to a reprimand by the Singapore Exchange (SGX), China Sky Chemical Fibre yesterday accused the SGX of continued failure to state the basis
      664 words
    • 301 9  -  By CONRAD TAN DUKANG Distillers Holdings has launched a range of sake products to tap rising demand for healthier alcoholic beverages in China. Dukang Distillers, which produces and sells baijiu, a popular Chinese alcoholic beverage, said that it had appointed Taiwan Tobacco Liquor Corp to
      301 words
    • 227 9 Reuters [KUALA LUMPUR] The Ascott Ltd, the world’s largest serviced residence owner-operator, may group its assets in Malaysia and float them on the local bourse, The News Straits Times reported yesterday. It may also inject the assets into Ascott Residence Trust (ART), a
      Reuters  -  227 words
    • 349 9  -  RM428m deal subject to nod from PacificMas creditors and shareholders By CONRAD TAN OCBC Bank has agreed to buy the operating companies of its Malaysian subsidiary, PacificMas Bhd, for RM428.2 million (S$175.2 million) after the latter’s board accepted its offer last
      349 words
    • 412 11  -  The project will be executed in a tie-up with a US engineering firm By LYNETTE KHOO SHARES of IEV Holdings surged yesterday, buoyed by news that its 30 per cent-owned associate had won a turnkey supply and installation contract worth RM262 million
      412 words
    • 158 11 Bloomberg [TORONTO] Singapore investment company Temasek Holdings increased its stake in Mosaic Co to become the biggest shareholder of North America’s second-largest fertiliser producer. Temasek owns 17.9 million shares in Mosaic, according to a filing with the US Securities and Exchange Commission made public
      Bloomberg  -  158 words
    • COMPANY BRIEFS
      • 76 11 LEADER Environmental Technologies’ subsidiary, Jilin Anjie Environmental Engineering Co Ltd, has entered into an agreement with Tonghua Iron Steel Co Ltd “to undertake operations and maintenance (O&M) of the desulphurisation system of a sintering system”. The one-year contract beginning in 2012 has a value
        76 words
      • 72 11 AEI Corporation’s indirect subsidiary, Form Technik (Shanghai) Co Ltd (FTS), has entered into a strategic alliance agreement with Everite China Ltd (ECL), a wholly owned company of Everite Machine Products Co. In the move aimed at growing sales and profits for both parties, ECL
        72 words
      • 46 11 FRASER and Neave’s (F&N) indirect subsidiary, Times Printers Private Ltd (TPPL), has exercised a call option to acquire the remaining 49 per cent of the issued share capital of JCS Digital Solutions Pte Ltd (JCSDS) for $2.8 million.
        46 words
      • 68 11 Bloomberg [TOKYO] UBS AG, Switzerland’s biggest bank, said it hired Daisaku Ueno as a currency strategist based in Tokyo. Mr Ueno, who joins from Gaitame.com Research Institute Ltd, will start work on Jan 4 and report to Mansoor Mohi-uddin, UBS’s Singapore-based head of
        Bloomberg  -  68 words
      • 78 11 DBS Vickers has maintained a “buy” call on Hutchison Port Holdings Trust (HPH Trust), with a 12-month share price target of US$0.85 (previous US$0.95). DBS analysts estimate that volumes handled at Hong Kong port for HPH Trust have grown by about 4 per
        78 words
    • 365 11 Bloomberg [SINGAPORE] Hanjin Shipping Co, South Korea’s largest shipping line, rose the most in three weeks in Seoul trading on market expectations that a new alliance of carriers will help stem a decline in rates and bolster competitiveness. Hanjin Shipping advanced
      Bloomberg; FILE PHOTO  -  365 words
  • Page 8 Advertisements
    • 284 8 MATS NOTICES ADVENTUS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****1072R) Corrigendum to the Circular to Shareholders dated 15 December 2011 Dear Shareholders, The Board of Directors of Adventus Holdings Limited (the “Company”) would like to clarify that, due to an inadvertent oversight, there is an
      284 words
    • 207 8 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF WORLD TELECOM PTE. LTD. Registration No. *****7338G (IN MEMBERS’ VOLUNTARY WINDING-UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap 50, that a Final Meeting of the Members
      207 words
    • 42 8 r J L O 0 FIND THE ONES THAT FIT! 7 "7 C J ri Recruit the right people j through CATS Recruit. Call 1800 289 8822 or email recruit@sph.com.sg >-TJ v to advertise. hi r u L3 m nj RECRUIT V
      42 words

  • Page 9 Advertisements
    • 53 9 Blow your blues at the launch of Weekday Lunch set meal for 17, Bali Lane (S) *****3 $5.90 <l6E?» Enjoy Happy Hours from Monday to Friday with 50% off your 2nd jug of Tiger beer FOR RESERVATIONS, PLEASE CALL 8181 7330 For a limited time only* *T c Apply. We
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    • 92 9 Tap into the markets whatever your device The IG Markets FX/CFD trading app now on iPad and Windows Phone 7 Ht Download your app at igmarkets.com. sg/app IG MARKETS CFD Trading can result in losses that exceed your initial deposit. IG Markets (ACRA No. *****621X) is licensed by the MAS
      92 words

  • SINGAPORE MARKETS
    • 585 10  -  STOCKS Index manages a 58.87-point or 2.3 per cent rebound to 2,673.32; but turnover is a poor 776m units worth $733m R SIVANITHY Senior Correspondent THANKS to a Tuesday bounce in Western markets, the Straits Times Index (STI), which had fallen a total of
      Source: Bloomberg  -  585 words
    • 4 10 DAILY
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    • 66 10 Dec 21 VALUE CLOSE BT OB/OS -657.00 +7.0 BT CADI -*****.00 +145.0 BT 10-day MA -*****.00 -66.00 FTSE ST Mid Cap 586.57 +6.77 FTSE ST Small Cap 395.98 +3.73 FTSE ST All Share 639.96 +12.56 FTSE ST China Top 185.65 +2.53 FTSE ST China 220.34 +3.14 FTSE
      66 words
    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 0 4 0 0 0 10 0 4 Manufacturing 72 31 29 5 5 5 77 36 34 Commerce 20 14 19 2 1 7 22 15 26 Tpt/Stor/Comms 20 6 13
      186 words
    • BROKERS’ TAKE
      • Article, Illustration
        346 10 Dec 21 close: $3.10 DBS VICKERS SECURITIES, Dec 21 SINGTEL will launch its 4G (Long Term Evolution LTE)-based mobile broadband service today for both consumers and businesses in selected districts. 4G plans will initially be limited to dongle-based users as there is a lack of LTE-ena-bled smartphones in the
        Source: Bloomberg  -  346 words
      • 387 10  -  Dec 21 close: $1.00 KIM ENG RESEARCH, Dec 21 Compiled by JAMIE LEE The Additional Buyer’s Stamp Duty (ABSD), believed to be the government’s response to calls for more affordable property prices and for differentiation of privileges between locals and non-locals, has dimmed the outlook for the
        Source: Bloomberg  -  387 words
      • 137 10 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half m-o-m month on month NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first,
        137 words
    • 119 10 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,171 17,171 53,974 53,974 Manufacturing 106,660 3,062 109,722 98,892 107 98,999 Commerce 50,260 1,632 51,892 79,247 201 79,448 Tpt/Stor/Comms 68,437 22,860 91,297 102,455 2,589 105,044 Finance 18,204 10 18,214 170,962 2 170,964 Construction 38,473 4,033
      119 words
    • 112 10 Stock name Close Change CapMallsAsia 1.160 CapitaLand 2.290 +0.060 CapitaMall 1.705 +0.020 CityDev 9.000 +0.050 ComfortDelGro 1.400 DBS Grp 11.700 +0.440 F&N 6.300 +0.100 GLP 1.720 +0.055 Genting SP 1.530 +0.025 Golden Agri 0.700 +0.010 HK Land 4.640 +0.140 JMH 47.180 +2.040 JSH 28.110 +1.390 Jardine
      112 words
    • 497 10 CURRENCIES Bloomberg [TAIPEI] Asian currencies strengthened, led by South Korea’s won, as housing data in the US beat economists’ estimates, brightening the export outlook. Housing starts in the US increased 9 per cent to a 685,000 annual rate in November, exceeding the highest
      Bloomberg; BLOOMBERG FILE PHOTO  -  497 words
    • 58 10 VOLUME Golden Agri 30,190,000 Genting SP 30,023,000 PSL Hldgs 25,090,000 GMG Global 22,900,000 Sky One 19,297,000 IEV 18,953,000 Dyna-Mac 17,499,000 MDR 16,666,000 SingTel 15,941,000 HPH Trust US$ 12,912,000 VALUE($) DBS Grp 65,774,285 SingTel 49,261,510 OCBC Bk 48,303,479 Genting SP 45,772,045 UOB 45,639,584 Keppel Corp 33,640,760 Olam 27,192,990
      58 words
    • 119 10 BY CENTS CLOSE UP DBXT MSKorea 10US$ 5189 373.1 5.9 GLD 10US$ ***** 371.8 1.8 JMH 4718 263.3 4.5 DBXT E50 10US$ 3387 200.1 4.8 JSH 2811 179.4 5.2 DBXT Nifty 10US$ 8915 178.1 1.6 Jardine C&C 4939 135.0 2.8 DBXT MSTaiwan 10US$ 1569 89.1 4.6 Asia Pac Brew
      119 words
    • 127 10 BY CENTS CLOSE DOWN DBXT S&P Short 10US$ 4196-171.7 -3.1 DBXT MSAsExJp 10US$ 2746 -24.5 -0.7 DBXT FTVietnam 10US$ 1905 -22.0 -0.9 DBS BP ePW*****2 50 -15.5 -23.7 STI 2750BPePW*****9 16.9 -12.1 -41.7 DairyFarm 897 -10.3 -0.9 OCBC Bk 4.5%NCPS 100 ***** -10.0 -0.1 DBS.ES.1112 1156 -9.0 -0.8 STI
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    • 5 10 DAILY
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  • Page 11 Advertisements
    • 310 11 Fujfrsu Fujitsu recommends Windows® 7 Your PC, simplified. Your professional companion. Capitalise on new business opportunities anywhere with the STYLISTIC Q550 the most secure PC slate in the market. Q550 S $1,688 43J£2£2?*I A/ Enhanced Usability and User Experience. Sharpen your competitive edge with the STYLISTIC Q550'sergonomic design, ultra-light at
      310 words

  • SINGAPORE NEWS
    • 637 12  -  Cautious sentiment amid economic uncertainty is moderated by healthy sales and tourism projections By MINDY TAN SINGAPORE’s retail rents remained stagnant in the fourth quarter of this year, and prime retail rent is likely to stay flat come 2012, say market watchers.
      637 words
    • 339 12  -  By TAM YU LING TOURISTS are likely to increase their spending here by an average of 9 per cent to $2,381 over the next two years, according to a survey by Visa. The global travel intentions survey polled over 10,000 respondents
      YEN MENG JIIN  -  339 words
    • 569 12  -  69% of firms want to make greater use of such tools By CHUANG PECK MING CHANGE and communication have always posed a big challenge in staff management particularly when it comes to getting employees in sync with a company’s profit-making goal. The arrival
      569 words
    • 277 12 LEADING video game hardware company Razer has secured US$50 million from a Beijing-based venture capital fund that takes it potentially closer to a public listing, the company said yesterday. A date for the initial public offering (IPO) has not yet been set
      277 words
    • 234 12  -  By SHERMAN TAN IT ONLY just set up a subsidiary in Singapore this month, but Hitachi Plant Technologies already has several more planned all over South-east Asia and India. But its Singapore arm, Hitachi Plant Technologies (Asia) Pte Ltd, will be
      234 words
    • 404 12  -  Strong bidding from taxi firms pushes up Cat A premium By SAMUEL EE TAXI companies bidding strongly for certificates of entitlement (COEs) pushed up the small car premium yesterday, leading some motor distributors to contemplate the link to the recent cab fare increase. “First,
      404 words
  • Page 12 Advertisements
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      24 words
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      82 words

  • ECONOMY WATCH
    • 1374 13 Bernanke’s easy-money policies show signs of speeding up the economic rebound after the oil price run-up and Europe debt crisis Bloomberg [WASHINGTON] FEDERAL Reserve chairman Ben Bernanke finally may be catching a break: His easy-money policies are showing signs of speeding up the
      Bloomberg  -  1,374 words
  • Page 13 Advertisements
    • 2216 13 TECHNICS OIL GAS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****5249E) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at 72 Loyang Way, Singapore *****2 on Monday, 16 January 2012 at 10.00 a.m. to transact
      2,216 words

  • MALAYSIA/INDONESIA
    • 504 14  -  Economic blueprint seeks greater foreign participation in banking By PAULINE NG in Kuala Lumpur MALAYSIA has reiterated its commitment to finan-cial-sector liberalisation by encouraging greater foreign participation in its banking institutions, including allowing for more flexible equity limits and employment opportunities. These were some recommendations
      504 words
    • 565 14 Reuters [JAKARTA] As the long-est-running strike in Indonesia’s mining industry draws to a close, mine owners need to brace themselves for a spate of copycat pay disputes, an official from the Indonesian Mining Association (IMA) said on Tuesday. Workers at Freeport McMoRan
      Reuters  -  565 words
    • 463 14  -  Says contributions were used to fund ‘social programmes’ By S JAYASANKARAN in Kuala Lumpur THE Malaysian deputy finance minister yesterday admitted to receiving political contributions from a “long-time donor” to fund “social programmes” in Bachok, Kelantan. But Awang Adek Hussein, a former adviser to
      463 words
    • 270 14 Bloomberg [SINGAPORE] Malaysia’s inflation slowed in November, increasing the central bank’s scope to leave interest rates unchanged while assessing the risks to growth from a faltering global economy. Consumer prices rose 3.3 per cent from a year earlier after climbing 3.4 per cent in October,
      Bloomberg  -  270 words
    • 777 14 Indonesia wants to triple domestic cocoa consumption in 3 years [JAKARTA] Arriving in Indonesia just a little over a decade ago, Belgium chocolatier Thierry Detournay was dismayed at the lack of quality chocolate on offer in the world’s third-largest cocoa producer. But now, less
      REUTERS  -  777 words
  • Page 14 Advertisements
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  • GREATER CHINA/INDIA
    • 558 15 Premier also tells nation’s banks to clean up lending policies Reuters Bloomberg [BEIJING] China’s Premier Wen Jiabao said China will stabilise export policy, including on rebates, and provide capital support to small companies. He also told the nation’s banks to clean up lending policies
      Reuters; Bloomberg  -  558 words
    • 691 15 It’s one of the most open among the exporters in Asia Reuters [TAIPEI] Taiwan could be the hardest hit among Asian peers next year should the whole global economy spiral into crisis, as the exports that propel its growth fall away
      Reuters  -  691 words
    • 70 15 [LUOYANG] A piece of tri-coloured glazed pottery painting by Chinese ceramic artist Guo Aihe ofLuoyang, in central China’s Henan province. Mr Guo developed “sancai” tri-colour glazed pottery of the Tang Dynasty (618-907) into a new type of art combined with glazing.
      XINHUA  -  70 words
    • 573 15 Activists, opposition parties criticise bill for lacking teeth Bloomberg [NEW DELHI] India’s cabinet approved powers for a graft-fighting agency that fell short of demands made by activists, who pledged to next week renew protests against the government that had earlier won nationwide support.
      Bloomberg  -  573 words
    • 291 15 Reuters [WUKAN, China] Organisers of a Chinese village protest that tested the ruling Communist Party for more than a week decided yesterday to end their action after senior officials offered concessions over a land dispute and a suspicious death in custody. Residents of
      Reuters  -  291 words
  • Page 15 Advertisements

  • WORLD
    • 725 16 They are at impasse over how to extend the aid and how to offset the cost NYT [WASHINGTON] More than three million people stand to lose unemployment insurance benefits in the near future because of an impasse in Congress over how to extend
      NYT; AFP  -  725 words
    • 674 16 RIM board wants to turn it around with better use of assets Reuters [TORONTO] Research In Motion turned down takeover overtures from Amazon.com Inc and other potential buyers because the BlackBerry maker prefers to fix its problems on its own, according to people with knowledge
      Reuters; REUTERS  -  674 words
    • 717 16 NYT [WASHINGTON] The Federal Reserve has proposed rules that would require the largest US banks to hold more capital and to keep it more easily accessible to protect against another financial crisis. But the Fed, the nation’s chief banking regulator, added
      NYT  -  717 words
    • 423 16 Reuters [TOKYO] The Bank of Japan kept monetary settings unchanged yesterday but cut its assessment of the economy on mounting evidence of the pain Europe’s debt crisis is inflicting on global growth and Japan’s recovery prospects. Slowing exports, worsening business sentiment and
      Reuters  -  423 words
    • 712 17 Move pushes euro to a one-week high versus the US dollar, sparks rally in stocks Reuters [FRANKFURT] Banks took a huge 489 billion euros (S$828.3 billion) at the European Central Bank’s (ECB) first ever offering of three-year funding yesterday, raising hope
      Reuters; XINHUA  -  712 words
    • 722 17 Carbon prices have slumped, making it cheaper to pollute AP [BRUSSELS] Europe’s main weapon in the battle against climate change is now fighting for its own survival. In January, investors in the continent’s cap-and-trade system had to pay some 14 euros (S$23.70) for the
      AP  -  722 words
    • 519 17 Reuters [BEIJING] North Korea will shift to collective rule from a strongman dictatorship after last week’s death of Kim Jong-il, although his untested young son will be at the head of the ruling coterie, a source with close ties to Pyongyang
      Reuters  -  519 words
    • 461 17 LATEST US DATA AP [WASHINGTON] The number of Americans who bought previously occupied homes rose last month. But the National Association of Realtors says it overstated more than three million sales during and after the Great Recession, showing the housing market was
      AP  -  461 words
    • 502 17 Rare slip-up raises questions about health of tech sector Reuters [SAN FRANCISCO] Oracle Corp’s earnings fell short of Wall Street’s forecasts for the first time in a decade as software and hardware sales sputtered, sending its shares down more than 10 per cent
      Reuters  -  502 words


  • EDITORIAL & OPINION
    • 463 18 EDITORIAL FROM January, some retail investors will have to pass an examination if they want to trade complex products such as structured warrants, extended settlement contracts and exchange-traded funds. This is a recent Monetary Authority of Singapore (MAS) requirement which is in line with
      463 words
    • 739 18  -  THE BOTTOM LINE JEFFREY FRANKEL The writer is professor of capital formation and growth at Harvard University LIBYANS have a new lease on life, a feeling that, at long last, they are the masters of their own fate. Perhaps Iraqis, after a decade
      739 words
    • 933 18  -  They will claim the lion’s share of global growth and be the source of innovation by 2020 By JAVIER SANTISO The writer is professor of economics at ESADE Business School and director of the ESADE Centre for Global Economy and Geopolitics (ESADEgeo) in Madrid OVER
      REUTERS  -  933 words
    • 1241 19  -  Imagine a peace treaty to break the legacy of mutual suspicion between North Korea, its neighbours and the US ANTHONY ROWLEY Tokyo Correspondent I’M no Martin Luther King, and I’m not even Asian, yet “I have a dream” of what Asia, or at least
      AFP  -  1,241 words
    • 1086 19  -  By CLIVE CROOK The writer is a Bloomberg View columnist. The opinions expressed here are his own THE Federal Reserve, according to reports, has decided that big US banks will have to comply with an emerging new global rule on
      REUTERS  -  1,086 words


  • 3025 20 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
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  • Page 20 Advertisements

  • AVIATION/SHIPPING
    • 410 21  -  It is in discussions with airports in Sapporo, Fukuoka, and Okinawa By VEN SREENIVASAN [SINGAPORE] Jetstar Japan, which plans to take to the skies at the end of next year, has lodged its Air Operators Certificate application in Tokyo. Jetstar Group CEO Bruce Buchanan,
      410 words
    • 278 21 SGX '000 Dec 21 S$ +/-Vol CH Offshore 0.34 -0.01 194 Chuan Hup Hldg 0.20 unch 12 Cosco Corp 0.89 0.03 3555 CWT Ltd 0.99 unch 56 Ezra Hldgs 0.85 0.02 1648 First Ship Lea 0.28 unch 1563 Freight Links 0.06 unch 159 Grand Banks unch unch 0
      278 words
    • 529 21 AFP [BRUSSELS] The European Union (EU) will go ahead with its hotly contested plan to charge airlines for carbon emissions despite US threats of reprisal, should it win European Court of Justice (ECJ) backing, EU sources said on Tuesday. “There’s no
      AFP  -  529 words
    • 318 21 Rivals facing capital shortages from Europe debt crisis Bloomberg [HAMBURG] DNB ASA and Nordea Bank AB, the largest providers of ship financing, may benefit as competitors face capital shortages from Europe’s sovereign debt crisis. DNB and Nordea are better positioned to lend money
      Bloomberg  -  318 words
    • 197 21 [SINGAPORE] Tiger Airways has become the first low-cost carrier to offer direct services between Singapore and Dhaka, Bangladesh. The budget carrier yesterday announced it would launch four services a week between Changi and the capital city of Bangladesh. “Dhaka is
      197 words
  • Page 21 Advertisements
    • 25 21 FREIGHT Er FORWARDER urgently needed by shippers Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES
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    • 34 21 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. THE BUSINESS TIMES SHIPPING TIMES Legal services required by shippers owners Can they find your services here in the Shipping Times?
      34 words
  • Page 21 Miscellaneous
    • 324 21 CRYPTIC CROSSWORD Across 1 Visit Corby? That’s right out for me! (4,2) 4 Country view, not golden (6) 8 Be the lead singer in something Alice would wear? (8) 10 Recipe has famous cake maker taking more risks (6) 11 False son, one rescued from flood (4) 12 Instrument, one
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  • SINGAPORE STOCKS
    • 7950 22 Transaction date: Dec 21 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 11.6 8Telecom 15.5 5 15.5 7.8 3.9 3.2 74.2 9.5 4 A-Sonic 4 -0.5 5 4 4 4 5
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    • 1603 23 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.1 t 800 Super 12.8 +0.2 50 12.8 12.6 12.8 14.8 4.7 4.3 5 22.9 5.5 2.5 t AA Grp 3.3 2.5 3.5
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    • 9964 23 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.11/ APS Alpha Fund (USD)!** 0.85/ AXA Life Secure Ascent 2020 Fund 0.9921/0.9921 AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.56/ Aberdeen Asset Mgt Asia Limited American Opp 0.605/ Asian Local Ccy
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    • 254 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 55.5 34 AVJennings A35 -0.5 13 36 35 35 40 3.6 10 2.8 91.1 49 25.5 Genting HK US$ US27 +1 5531 27 26 26.5 27 1777.8
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    • 888 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 109.5 ABF SG Bond ETF 116.7 -5.3 327 116.7 116.2 116.1 116.7 532.7 1261 856 CIMBAsean40 100US$ US956 +16 145 957 953 953 961 38.2
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  • FINANCE & COMMODITIES
    • 373 24 In local curr In S$ In US$ dy yr dy yr dy yr Dec 20 Index Change Change Change Change Change Change World Preliminary 814.0 1.9 -9.3 1.5 -8.1 2.2 -9.3 EAFE Preliminary 668.7 1.2 -16.5 1.3 -15.2 2.0 -16.3 Europe Preliminary 1001.6 1.8 -14.3
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    • 114 24 As on 20 December 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METALS GOLD FUT FEB2012 1612.80 1598.20 1617.70 32 CURRENCY AUD-USD FUT MAR2012 .9995 .9823 .9971 4026 EUR-USD FUT MAR2012 1.3141 1.3004 1.3095 6327 USD-JPY FUT MAR2012 77.87 77.57 77.62 3582 BASE METAL
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    • 107 24 Dec 20 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 12 1144.50 1137.00 1149.75 1135.50 Mar 12 1154.50 1146.75 1159.50 1145.00 May 12 1164.75 1157.25 1169.75 1155.50 Jul 12 1174.75 1167.25 1179.75 1165.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 12 49.38
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    • 77 24 CRUDE OIL PRODUCTS Dec 20 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 106.81 3.19 WTI (Near Mth) 97.25 3.55 Dubai (1-Mth F) 102.42 1.30 Tapis blend 113.38 1.14 Minas 111.28 1.14 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 98.17 2.11 Jet Kerosene 119.25 1.05 US$/barrel Opec Oil
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    • 83 24 Dec 21 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****X 22.03.2012 0.35 0.3 0.3 1-Year BY*****W 01.11.2012 0.35 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 102.91 102.96 102.95 5-Year N*****0W 1.125 01.04.2016 102.19
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    • 448 24 Dec 21 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar12 99.3400 0 3350 Jun12 99.2800 0 804 Sep12 99.2500 0 401 Dec12 99.2400 0 506 EUROYEN TIBOR FUTURES Mar12 99.6625 363 2349 Jun12 99.6650 0 1440 Sep12 99.6600 0 711 Dec12 99.6650 0 115 Mar13 99.6550
      448 words
    • 169 24 Dec 21 SICOM RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jan 12 338.0 338.0 338.7 8 308 Feb 12 341.0 341.0 342.7 10 217 Mar 12 348.1 347.6 348.3 7 324 Apr 12 355.1 354.0 355.0 62 129
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    • 71 24 Dec 20 Dec 20 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1985.00 1947.75 3 months 2003.00 1962.00 Copper, Grade A (US$/tonne) Cash 7394.00 7243.25 3 months 7410.00 7260.00 Lead (US$/tonne) Cash 1937.00 1917.75 3 months 1959.00 1937.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 26 24 Dec 21 Open High Sett STI Dec 2660 2660 2673 SIMSCI Dec 298.9 305.7 305.2 Taiwan Dec 239.7 251.0 250.5 Source: SGX Derivatives
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    • 2132 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 55 49.00 29 ASJ Hldgs W*****1 0.1 1 4 24 33.00 2 AlliedTech W*****2 1.7 1 4 23 Aztech Grp W*****3 0.2 1 20 135
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    • 82 24 Dec 20 COCOA (£/tonne) Close Prev High/Low Mar 12 1400 1343 1408/1341 May 12 1418 1362 1420/1360 Jul 12 1434 1378 1437/1376 Sep 12 1447 1392 1451/1390 COFFEE (US$/tonne) Close Prev High/Low Jan 12 1847 1834 1858/1840 Mar 12 1887 1878 1902/1881 May 12 1921 1913 1932/1916 Jul 12
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    • 464 24 Dec 21 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.044 6.464 0.777 7.933 53.644 93.400 0.793 11.721 3.226 1.314 91.702 44.518 1.317 8.270 0.947 30.876 31.844 0.649 1.020 Canada 0.958 6.192
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    • 82 24 Dec 21 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 138 24 Dec 21 GOLD (US$/oz) Dec 20 Dec 21 Hong Kong 1606.00 1634.20 Dec 19 Dec 20 London 1592.14 1615.29 1593.86 1617.01 Source: Thomson Reuters CAST BAR Dec 21 (S$) Selling Buying Kilobar "72,554.56" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 163 68 5gm 461 338 10gm 824
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    • 57 24 Dec 21 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 12 3034.0 3020.0 3079.0 3034.0 390 2803 Feb 12 3034.0 3021.0 3075.0 3032.0 3782 ***** Mar 12 3031.0 3020.0 3072.0 3026.0 ***** ***** Apr 12 3024.0 3011.0
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    • 154 24 Dec 21 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3161 1.3175 1.0195 1.0198 Canadian dollar 1.2606 1.2621 0.9766 0.9769 Euro 1.6938 1.6956 1.3121 1.3125 NZ dollar 1.0012 1.0025 0.7756 0.7760 Sterling pound 2.0289 2.0309 1.5717 1.5720
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    • 22 24 Dec 21 S$ Bid Offer 1-month 1.2910 1.2920 2-months 1.2910 1.2920 3-months 1.2907 1.2918 6-months 1.2890 1.2903 Source: OCBC
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    • 121 24 As at 9am Dec 21 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.341 1.278 Can dollar 1.286 1.237 Euro 1.734 1.668 Sterling pound 2.072 1.993 NZ dollar 1.027 0.979 US dollar 1.318 1.268 Local dollars to 100 units of foreign
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    • 154 24 Dec 21 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 3/16 2-months 5/16 3/16 3-months 5/16 3/16 Overnight mode: 0.02 US$ Offer Bid 7 days 0.30 0.20 1 month 0.45 0.25 2 months 0.55 0.35 3 months 0.70 0.50 6 months 0.95 0.75 9 months 1.15 0.95 12
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 953 25  -  It notes that many firms are getting more discerning with the management and security tools available to them, and possible lock-in pitfalls, reports VICTORIA HO FOR virtualisation market leader VMware, keeping ahead of the competition has moved beyond the mechanics of providing virtualisation technology these days,
      953 words
  • Page 25 Advertisements
    • 823 25 ADVERTORIAL Samsung recommends Windows® 7 1 r l T < st IE 1 v L. fc > POWER THE MOBILE WARRIOR With a Samsung Series 7 Slate PC, the office worker will have computing power at his fingertips, while retaining the convenience of portability on the road. Speak to any
      823 words

  • PROPERTY
    • 1009 26 But they face many hurdles in accessing huge Chinese market NYT [NEW YORK] With the slowdown in commercial building in the United States, some US developers are planning projects in China, hoping to capitalise on an immense, increasingly urbanised market with a
      NYT; AFP  -  1,009 words
    • 1477 26 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED The Sail Marina Bay Apt 28/11/2011 99 1033 2980 2885 The Sail Marina
      1,477 words
    • 777 27 Restructuring firm expects the most failures in 4 years, including big players Bloomberg [LONDON] UK retail insolvencies may reach the highest level in four years as weak Christmas sales leave chains struggling to meet rent payments due this month, according to restructuring firm
      Bloomberg; REUTERS  -  777 words
    • 840 27 Bloomberg [TOKYO] Hulic Co’s takeover of Shoei Co, in a transaction estimated at 268.7 billion yen (S$4.47 billion), underscores the plight of smaller Japanese builders struggling to survive as loans dry up. Shoei will swap three of its shares for each Hulic stock in
      Bloomberg  -  840 words
    • 998 28 These trusts which invest in real estate other than the traditional office, retail, residential and industrial sectors have shown exceptionally solid returns this year NYT [NEW YORK] Real estate investment trusts, or Reits, have largely outperformed other investment vehicles in the sluggish US economy of
      NYT; BLOOMBERG  -  998 words
  • Page 26 Advertisements
    • 33 26 Your Industrial Needs Our Industrial Expertise Savills has over 200 offices and associates worldwide to meet all your real estate needs, anywhere in the world. Call 6836 6888 lsavills.com savills AGENCY NO. L*****88B
      33 words

  • Page 27 Advertisements
    • 246 27 FOR SALE BY TENDER CROWN JEWEL OF THOMSON... THOMSON VIEW RARE DISTRICT 20 RESIDENTIAL SITE Gigantic Land: 50,196.9 sq metres (540,314 sqft or 12.4 acres) Master Plan 2008: Residential Use With Gross Plot Ratio 2.1; Up to 24 storeys High Elevated Ground Above Upper Thomson Road Panoramic Views of Blue
      246 words
    • 174 27 For Sale By Tender Freehold Industrial Land in MacPherson Site Area 30,157 sf MP 2008 ‘B1’, PR 2.5 Prominently located at the junction of MacPherson Rd and Howard Rd Less than 10 minutes’ walk to Tai Seng MRT Station. Tender Closing: Thurs, 12 Jan 2012, 3 pm Contact: DTZ Investment
      174 words
    • 62 27 n D€C 11 St5.00 SffiWiBtZ JPRAM \^\hi *£Si8S?j is PARTY Hitt-SS LBD RiiRIi ULttS iSWSite n«s ID too GIFT IDEAS £#tiBIN WHO'S THE L* BOSS f§±*T 10, K«itS7qr« IT NOW 16 SETS OF BEAUTY PRODUCTS WORTH $214 29 SETS OFMW3JmJH/AX'IN FOR YOUTH SERUM WORTH $134 20 SETS OF HAMPER WORTH
      62 words

  • Page 28 Advertisements
    • 247 28 A -fv'iif •""'I.' f MB! c 1 .iff 't 7 \v V!? 4W e v -f\ s J ar A V X r f is '■•*«-,*y ■<>■'. A, '"i i-j..*'; >; J tTP"'? I :•*..> t V r r4- r i ''4r i /5», ti > ""V. "'til £i•' '"*V
      247 words
    • 126 28 International Property Group Pte Ltd A Singapore based Boutique Real Estate Broker Focusing On Commercial Real Estate In Central Region of Singapore. We deal with the following types of assets 3 4 Star Hotels Shopping Mall Office Commercial Buildings Boutique Budget Hotels Commercial Shophouses Strata Office Units Retail Space Light
      126 words