The Business Times, 11 May 2013
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2013-05-11
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The Business Times
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Title Section20 2013-05-11 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g MAY 11-12, 2013 S$1.00 MICA (P) 075/08/2012 Sffll A SINGAPORE PRESS HOLDINGS PUBLICATION20 words
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Article30 2013-05-11 1 DELISTING UOL Group is offering $2.55 in cash per share for its exit offer and delisting proposal for the Pan Pacific Hotels Group.| 230 words
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Article44 2013-05-11 1 spring’s largesse SPRING Singapore disbursed S$1.3 billion worth of government loans to 4,000 SMEs last year, but this is a fraction of the 14,000 loans worth S$6.1 billion it had given out during the global financial crisis. 444 words
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Article32 2013-05-11 1 DAYLIGHT ROBBERY A WORLDWIDE gang of criminals stole US$45 million in hours by hacking into a database of prepaid debit cards and draining cash machines around the globe. 832 words
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Article42 2013-05-11 1 CAPITAL REDUCTION FRASER and Neave plans to pay out $3.28 per share through a capital reduction as it reported that a cloud of non-recurring variables from its ownership transition sent Q2 net profit tumbling 45 per cent.| 1242 words
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Article, Illustration657 2013-05-11 1 Anthony Rowley - This comes as BOJ’s monetary easing sparks capital outflow from Japan into foreign bonds By Anthony Rowley btworld@sph.com.sg Tokyo HE yen has finally broken through the 100 to the US dollar level after a month of failed attempts and appeared to be headingPHOTO: REUTERS - 657 words
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Article, Illustration1218 2013-05-11 1 Joyce Hooi - By Joyce Hooi joyceh@sph.com.sg Singapore THERE is an apt, if overused, maxim about knowing the price of everything but the value of nothing. Motherhood is one of the few things in which the opposite is true. It is valued abstractly and will be clumsilySource: ILO, Singapore Ministry of Manpower - 1,218 words
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Page 1 Advertisements
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Advertisement29 2013-05-11 1 the the DOW REAL ESTATE Shophouse sales surge in Q1|35 MOTORING The all-new Jaguar F-Type L19 the raffles conversation DOW CORNING CEO ROBERT HANSEN 10-11 LIVING Mother’s way L2-429 words
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TOP STORIES
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Article, Illustration893 2013-05-11 2 Kalpana Rashiwala - This is at an 8.97% premium over PPHG’s last traded share price on Thursday By Kalpana Rashiwala kalpana@sph.com.sg Singapore WEE Cho Yaw-controlled UOL Group is offering $2.55 in cash per share for its exit offer and delisting proposal for the Pan Pacific HotelsFILE PHOTO - 893 words
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MARKETS
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Article57 2013-05-11 2 GSTI 3,443.77(+10.99) GSTI FUTURES 3,437.00 (+13.00) GSIMSCI 389.17 (+0.95) GSIMSCI FUTURES 388.40 (+1.60) KL COMP 1,772.38 +6.31 NIKKEI 225 14,607.54 +416.06 HANG SENG 23,321.22 +109.74 SET 1,622.48 +1.36 JAKARTA 5,105.94 +16.60 MANILA 7,262.38 +67.95 KOSPI 1,944.75 -34.70 SHENZHEN B 847.06 +2.76 MUMBAI IND 20,082.62 +143.58 12noon EDT Change DOW57 words
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Article29 2013-05-11 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.378 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.45 Source: Bloomberg29 words
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Article48 2013-05-11 2 US$ S$ US$ (S$ per US$) 1.237 (US$/S$ per 1.544 1.910 EURO(US$/S$/€ 1.303 1.612 Foreign currency per US$ S$ YEN 101.30 81.90 RM 2.988 2.416 HK$ 7.760 6.275 BAHT 29.72 24.03 RUPIAH 9,738 7,874 RENMINBI 6.141 4.965 INDIAN RUPEE 54.57 44.13 A$ 0.995 0.804 NZ$ 1.197 0.96848 words
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777 2013-05-11 4 Malminderjit Singh - Enhanced loan schemes helped firms when banks turned more risk-averse during global crisis By Malminderjit Singh msingh@sph.com.sg Singapore SPRING Singapore disbursed $1.3 billion in government loans to 4,000 small and medium-sized enterprises (SMEs) here last year, and $1.4 billion the year before. These777 words
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Article, Illustration591 2013-05-11 4 Anna Teo - By Anna Teo anna@sph.com.sg Singapore A NEW global body that promotes best practices in competitiveness policies and strategies wants Singapore on board. Launched in 2010, the Global Federation of Competitiveness Councils (GFCC) is a network of more than 30 organisations and councils591 words
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Article, Illustration323 2013-05-11 6 Indra Nooyi Chairman and CEO of PepsiCo “My kids, I worry about my kids.” (On what keeps her up at night MARKET CAP US$128.74 billion APPOINTED August 2006 CHILDREN 2 Chua Sock Koong Group CEO of SingTel “You’re talki ng about 40 years of working life.323 words
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382 2013-05-11 7 Ronnie Lim - The tender for construction of the huge floating oil storage facility likely to be called later this year By Ronnie Lim ronnie@sph.com.sg Singapore GROUND preparations are about to get underway for Singapore’s first floating oil storage facility on Pulau Sebarok. A tender for382 words
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Article, Illustration343 2013-05-11 7 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg Singapore THE government is studying measures to tackle and curb access to online gambling, said S Iswaran, Minister in the Prime Minister’s Office and Second Minister for Home Affairs yesterday. It is working with industry experts to review343 words
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400 2013-05-11 7 Malminderjit Singh - By Malminderjit Singh msingh@sph.com.sg Singapore MALAYSIANS will be able to overcome their post general election issues and “muddle through beautifully”, says a veteran diplomat who served as Singapore’s High Commissioner in Malaysia for five years. K Kesavapany, who was Singapore’s envoy in Kuala400 words
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Article, Illustration561 2013-05-11 8 Outdated magnetic-strip card technology may be partly to blame for global ATM heist AP New York A WORLDWIDE gang of criminals stole US$45 million in hours by hacking into a database of prepaid debit cards and draining cash machines around the globe, prosecutorsAP; PHOTO: AP - 561 words
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512 2013-05-11 8 Benjamin Aw - By Benjamin Aw benaw@sph.com.sg Singapore A PROTRACTED eurozone crisis could eventually lead to a situation of market stresses globally, warned American economist Nouriel Roubini, who believes that this is the most serious issue facing the international economy today. “In terms of512 words
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Page 2 Advertisements
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Advertisement78 2013-05-11 2 CONTENTS NEWS Top Stories 2-8 Week In Review 9 Raffles Conversation 10-11 Companies 12-16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 Househunt 34 LIVING Cover Story L2-4 Dining L5-8 Style L9-11 Home Garden L12-13 Travel L14-15 Sports L16 Golf L17 Motoring78 words
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Page 3 Advertisements
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Advertisement15 2013-05-11 3 idi i m asffl w f\ m LONDON ION ORCHARD PARAGON MARINA RAY SANDS RURRERRY.COM15 words
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Page 5 Advertisements
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Advertisement213 2013-05-11 5 watches o Of Switzerland 36' Momentous Years Watches of Switzerland celebrates 36 years of handcrafted legacy. With deepest gratitude for your valued support, we present the perfect moment to own that luxurious time piece. CITIBANK Q% INTEREST EQUAL PAYMENT PLAN Choose to purchase your exquisite timepieces over 36 months, at213 words
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Page 7 Advertisements
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Advertisement88 2013-05-11 7 STAMFORD CELLARS The ultimate WINE CELLARAGE Located in Asia’s only ultra-high security freeport dedicated to the storage of fine art and high value collectibles, Stamford Cellars at The Singapore FreePort is committed to absolute standards and highest level of confidentiality. Stamford Cellars the ultimate wine cellarage for wine collectors. For88 words
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Page 8 Advertisements
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Advertisement249 2013-05-11 8 THE BUSINESS TIMES SATURDAY SPECIAL Have a meal on us! Every 3rd person dines with our compliments! Venue: Suki-Ya 112 East Coast Road 112 Katong #03-05, Singapore *****2 Tel: 6636 3789 Website: http://www.suki-ya.com.sg/ Terms Conditions Promotion valid from 12 25 May for dine-in customers only Not valid on public holidays,249 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK May 6-10, 2013
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89 2013-05-11 9 MALAYSIA’S 13th general election turned out to be every bit as hotly contested as the surveys indicated. The ruling Barisan Nasional (BN), or National Front, won a simple majority of 133 seats, allowing it to extend its 56-year rule. It recaptured the states of89 words
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49 2013-05-11 9 WITH the election overhang removed and the incumbent BN government retaining power, Malaysia’s stock market powered to a high of 1,826 points or 7.8 per cent at the opening of trade on Monday but eased later to close 3.4 per cent up.49 words
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55 2013-05-11 9 THE Malaysian ringgit, which took pause on Tuesday after a post-elec-tion surge, is likely to stay strong and end the year at around 3.00 against the US dollar, a level rarely seen over the last 16 years since the Asian financial crisis, according to55 words
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63 2013-05-11 9 THE man who oversaw the development of the Iskandar region in Johor, long-time Johor Menteri Besar Abdul Ghani Othman, is on his way out following his defeat in Sunday’s general election, but observers say the Malaysian special economic zone in which Singapore63 words
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74 2013-05-11 9 WHILE the dust has settled after Hong Kong International Terminals and striking port workers shook hands on a pay rise on Monday, some of the lustre at Singapore-list-ed Hutchison Port Holdings (HPH) Trust, which owns the port, has dimmed. Analysts expect74 words
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38 2013-05-11 9 SINGTEL’S Optus will shell out A$649 million (S$813.4 million) for 4G spectrum in Australia, after successfully bidding in the 700 Megahertz (MHz) and 2.5 Gigahertz (GHz) bands, it said on Tuesday.38 words
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64 2013-05-11 9 SINGAPORE Exchange (SGX) is mulling over new regulation that could let issuers turn wholesale bonds into more retailfriendly products after “seasoning” the debt on the secondary market, sources said. The move is seen as an attempt at breathing life into the secondary bond market, particularly64 words
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Article, Illustration42 2013-05-11 9 Malaysia’s Prime Minister Najib Razak at a press conference in Kuala Lumpur. He began a second term on May 6 after the coalition he leads won a simple majority in the country’s 13th general elections. PHOTO: AFP PHOTO: AFPPHOTO: AFP - 42 words
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71 2013-05-11 9 THE selection of Brazil’s Roberto Azevedo as the next head of the World Trade Organization may help ease emerging markets’ resistance to removing barriers as part of global trade talks. Mr Azevedo defeated former Mexican Trade Minister Herminio Blanco in the final71 words
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57 2013-05-11 9 ALEX Ferguson will retire as Manchester United’s most successful manager after 26 years. The 71-year-old Scot, who guided United to 38 trophies will step down at the end of the season and join the board, United said. Everton manager David Moyes was57 words
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42 2013-05-11 9 CHINA’S growth continues to falter and even the latest trade figures provided scant comfort. Although exports rose, many analysts are questioning the reliability of these numbers saying that they have been artificially inflated.42 words
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34 2013-05-11 9 HARRY Chua, a key figure in Singapore’s real estate agency industry, is looking to sell his baby ERA Realty Network for about $150 million.34 words
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42 2013-05-11 9 A JOINT effort by Britain, the US and Australia to track down those concealing wealth via offshore tax structures has helped identify over 100 individuals already, the UK’s tax authority said on Thursday.42 words
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Article87 2013-05-11 9 US DATA May 13 April retail sales May 15 April producer price index April industrial production May 16 April consumer price index April housing starts May Philadelphia Fed survey SINGAPORE DATA May 15 March retail sales and F&B services indices 2012 international investment position May87 words
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Page 9 Miscellaneous
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Miscellaneous324 2013-05-11 9 Across 1 How a top actor went over as Romeo? (4-7) 9 Deviation from normal unusually rare? Can be (9) 10 Calculator that slides? (5) 11 Stolen gun and car (3,3) 12 Dish for a Scotsman? Girl returns with one (8) 13 Society girl rejecting a title? Rubbish! (6) 15324 words
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Miscellaneous7 2013-05-11 9 SATURDAY with Ludwig ‘We’re not done yet7 words
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THE RAFFLES CONVERSATION
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Article, Illustration2988 2013-05-11 10 / 11 Anna Teo - ‘Now that silicones have been around for 70 years, a lot of them are more common, more standard, and so it’s companies like Dow Corning that have traditionally been and continue to be focused on being the leader in this silicone science.’ Dow Corning Corporation continues to findPHOTO: YEN MENG JIIN - 2,988 words
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COMPANIES
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Article, Illustration557 2013-05-11 12 Kenneth Lim - $4.73 billion capital reduction will return 84 per cent of APB proceeds to shareholders By Kenneth Lim kenlim@sph.com.sg Singapore FRASER and Neave (F&N) plans to pay out $3.28 per share through a capital reduction as the property and drinksPHOTO: BLOOMBERG - 557 words
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310 2013-05-11 12 Samuel Ee - Demand for services to stay strong with more older vehicles By Samuel Ee samuelee@sph.com.sg Singapore WITH more vehicle inspections and tests conducted, Vicom’s net profit for the first quarter ended March 31 rose 6.5 per cent to $7.46 million, as revenue climbed 7.2310 words
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204 2013-05-11 12 Grace Ng - By Grace Ng ngrace@sph.com.sg Singapore HOTEL Royal Ltd’s first-quarter net profit fell 4.7 per cent to $2.29 million from $2.4 million a year earlier. The period saw higher income tax expense due mainly to higher tax provision arising from higher rental204 words
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247 2013-05-11 12 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg Singapore UNITS of Croesus Retail Trust (CRT) jumped as much as 26.9 per cent above its offering price of 93 cents yesterday, after hitting an all-day high of $1.18. The counter, which debuted at $1.12, 20.4 per cent247 words
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549 2013-05-11 13 Cai Haoxiang - It buys 517,000 shares in open market a day after raising offer price By Cai Haoxiang haoxiang@sph.com.sg Singapore UNITED Engineers (UE) boosted its stake in conglomerate WBL Corporation to 40 per cent yesterday, a day after it upped its takeover offer by 35549 words
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448 2013-05-11 13 Andrea Soh - Shares up again as analysts and investors hail deal By Andrea Soh sandrea@sph.com.sg Singapore ANALYSTS and investors have given a thumbs-up to Olam International’s new joint venture with Japanese instant noodle maker Sanyo Foods. The counter rose four cents, or 2.3 per cent,448 words
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401 2013-05-11 13 Carine Lee - By Carine Lee carinel@sph.com.sg Singapore REDUCED corporate activities, higher staff costs and operating expenses saw Boardroom Limited post an 18.5 per cent year-on-year decrease in net profit to $1.11 million from $1.36 million for the fiscal third quarter ended March 31, 2013. The401 words
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321 2013-05-11 14 Ong Chor Hao - It reports earnings of $1 7.6m, against $6m from the same period a year ago; sales grow 21.4% to $21.8m By Ong Chor Hao ongch@sph.com.sg Singapore A SURGE in fair value gain in investment properties helped developer and construction321 words
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221 2013-05-11 14 Mindy Tan - Revenue up 3% to $1 67m, driven by basic building resources unit By Mindy Tan tanmindy@sph.com.sg Singapore PAN United Corporation’s net profit for the first quarter ended March 31, 2013, rose 8 per cent to $10.3 million from $9.5 million a year221 words
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Article, Illustration370 2013-05-11 14 Lim Jia Ying - Revenue down 1 1 to US$147.8m; no dividends declared By Lim Jia Ying sofialim@sph.com.sg Singapore AMTEK Engineering’s net profit plunged 47 per cent year on year to US$4.1 million for its third quarter ended March 31, 2013. Revenue for the three monthsFILE PHOTO - 370 words
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Article, Illustration469 2013-05-11 15 Joyce Hooi - STOCKS Joyce Hooi joyceh@sph.com.sg Correspondent THE Straits Times Index (STI) finished the week on a strong note yesterday, notching up yet another five-year high its third this week. While the outcome of the general election in Malaysia dominated investor attention at the start469 words
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268 2013-05-11 15 Ma Xiangyu - Four software licensing contracts during the quarter help boost revenue by 8% to RM1 08.7m By Ma Xiangyu xiangyu@sph.com.sg Singapore SILVERLAKE Axis posted an 8 per cent year-on-year rise in net profit to RM47.4 million (S$19.7 million) for the third quarter ended268 words
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Article231 2013-05-11 15 VOL CLOSE Cedar 1 98 V749 1 0 .0 0 .0 Croesus RTr 1 38 0.0 290 114 .5 0 .0 0 .0 NexGenSCom 1 18 NexGenSCom 775 1 .3 0 0.0 .0 Go l den Agr i 91 91,609 609 54 0 .5 0 .9 Innopac231 words
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Article110 2013-05-11 15 STOCK NAME CLOSE CHANGE CapMallsAsia 2.020 +0.010 CapitaLand 3.820 +0.040 CapitaMall 2.340 -0.020 CityDev 11.50 +0.070 ComfortDelGro 1.980 DBS Grp 17.90 +0.200 GLP 2.880 -0.010 Genting SP 1.515 +0.020 Golden Agri 0.540 -0.005 HK Land 7.370 -0.100 HPH Trust US$ 0.835 JMH 68.30 -0.050 JSH 40.47 +0.320 Jardine110 words
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Article62 2013-05-11 15 BY CENTS CLOSE UP IS S&P500 ***** 142.2 0.7 DBXT Nifty 10US$ ***** 71.7 0.5 DBS.ES.1305 1789 49.0 2.8 JSH 4047 39.6 0.8 DBS Grp 1790 20.0 1.1 DBS MB eCW*****9 25 17.9 252.1 DBXT MSJAP 10US$ 4549 17.3 0.3 IS MSCI Spore 1466 17.3 1.0 Lyxor China62 words
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Article60 2013-05-11 15 BY CENTS CLOSEDOWN GLD 10US$ ***** -264.5 -1.5 DBXT AUDCS 5SG$ ***** -260.0 -1.0 DBXT MSKorea 10US$ 5677 -250.9 -3.5 Jardine C&C 4610 -156.0 -3.3 DBXT MSTHAI 10US$ 2360 -72.9 -2.4 Lyxor Korea 10US$ 504 -19.8 -3.1 DBXT MSMSIA 10US$ 1555 -16.1 -0.8 UOB 2186 -14.0 -0.6 DBXT60 words
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Article, Illustration560 2013-05-11 16 Angela Tan - This is part of a wave of consolidation across smaller gold miners in Australia as gold price falls By Angela Tan angelat@sph.com.sg Singapore THE erosion in the global gold price has ignited a wave of consolidation across smaller gold miners inFILE PHOTO - 560 words
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352 2013-05-11 16 Maria Mala Yogalingam - Chuan Hup hit by sharp fall in net ‘other gains’ By Maria Mala Yogalingam ymaria@sph.com.sg Singapore TWO mainboard-listed service providers for the marine industry –Chuan Hup Holdings and Swissco Holdings have posted a decline in quarterly revenue and profits. Chuan Hup posted a352 words
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288 2013-05-11 16 Cai Haoxiang - By Cai Haoxiang haoxiang@sph.com.sg Singapore STRACO Corporation, a developer and operator of China tourism attractions, reported a net profit of $5.46 million for its first quarter ended March 31, 2013, three times the $1.82 million the same period a288 words
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Page 13 Advertisements
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Advertisement433 2013-05-11 13 -Jt KATS NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF REFINED SOFTWARE SOLUTIONS PTE LTD (IN MEMBER’S VOLUNTARY LIQUIDATION) (Company Registration No. *****3378K) NOTICE IS HEREBY GIVEN that it was resolved at an Extraordinary General Meeting of member of the abovenamed company held433 words
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Page 14 Advertisements
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Advertisement17 2013-05-11 14 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices NOTICES17 words
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Advertisement39 2013-05-11 15 L LXi -J L n q Xj ~> ri v_' U FIND THE ONES 1 u -J THAT FIT Recruit the right people through CATS Recruit. Call 1800 289 8822 or email recruit@sph.com.sg to advertise. u WATS L RECRUIT n39 words
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SINGAPORE
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Article, Illustration663 2013-05-11 17 Mindy Tan - Non-landed home resales plunge 53.9% year-on-year in April; last month also sees 0.4% drop in prices from March By Mindy Tan tanmindy@sph.com.sg RESALE volumes of private homes have continued their downward trajectory, even as prices island-wide continued to soften. A total ofSource: SRX - 663 words
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372 2013-05-11 17 Maria Mala Yogalingam - By Maria Mala Yogalingam ymaria@sph.com.sg NEARLY nine in 10 doctors here actively use electronic medical records (EMR), and believe that the quality of patient care has gone up as a result. An annual survey by Accenture polled 200 Singapore doctors, 87 per cent of whom said372 words
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326 2013-05-11 17 Ng Sai Ying - By Ng Sai Ying nsaiying@sph.com.sg SOMEWHERE in the Fusionopolis research and development (R&D) park is a new laboratory dedicated to looking for solutions to the challenges faced by the marine, energy and offshore sectors. There, more than 10 researchers use computational326 words
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406 2013-05-11 18 Felda Chay - OKH Global’s bid translates to $111 psf ppr and is within expectations of property consultants By Felda Chay feldac@sph.com.sg A RARE 30-year industrial site at Loyang Way that allows for stra-ta-subdivision has attracted a top bid of $61.6 million in a public406 words
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256 2013-05-11 18 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg TIGER Airways saw a 37.1 per cent surge in passengers booked to 639,000 for the month of April, partly due to an improved performance in its operations down under. “(Tiger Australia) was operating at a significantly reduced capacity256 words
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Briefing
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92 2013-05-11 18 PSA International Pte Ltd (PSA) has won the “Best Global Container Terminal Operating Company” award for the eighth year, while PSA Singapore Terminals was voted “Best Container Terminal Asia (over four million TEUs per year)” for the 24th time at the 27th Asian92 words
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60 2013-05-11 18 THE police have issued conditional warnings against nine persons for participating in an illegal gathering at Merlion Park on May 8. The work and visit passes of the nine in Singapore are being reviewed by the authorities. The police said their respective60 words
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522 2013-05-11 18 Lim Jia Ying - But clear business plan is crucial, say speakers at panel discussion By Lim Jia Ying limjy@sph.com.sg HOMEGROWN jewellery designer Carolyn Kan believes there is no better time to be an Asian designer than now. There are opportunities for talented individuals, as522 words
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WORLD
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590 2013-05-11 19 South Korea’s rate cut on Thursday was the 511th reduction worldwide since June 2007 Bloomberg London GLOBAL central bankers are poised to ease monetary policy even further after a wave of inter-est-rate cuts from India to Poland. As Group of Seven (G-7) financeBloomberg - 590 words
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Article, Illustration343 2013-05-11 19 Bloomberg Beijing CHINA’S two biggest banks said they’re complying with efforts to isolate North Korean financial institutions that support the country’s ballistic missile and nuclear weapons programmes. North Korea’s Foreign Trade Bank doesn’t have an account with Industrial Commercial Bank of China (ICBC), a pressBloomberg; PHOTO: BLOOMBERG - 343 words
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Briefing
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Article77 2013-05-11 19 Reuters New Delhi India’s railway minister Pawan Kumar Bansal resigned yesterday, two Indian television channels reported, dealing a fresh blow to the scandal-weakened government as it limps toward elections. The resignation came just days after police arrested Mr Bansal’s nephew for accepting a bribe. Opposition demandsReuters - 77 words
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86 2013-05-11 19 Bloomberg London Half of London’s new-home buyers come from abroad as the city’s reputation as a safe haven attracts rising investment and sustains development. Foreigners spent more than £3 billion (S$5.7 billion) on new homes in the UK capital last year, a 25Bloomberg - 86 words
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76 2013-05-11 19 AP Hong Kong HONG Kong’s economy stagnated in the first quarter as the highly trade-dependent city was held back by an unsteady global economy. Data released yesterday showed that the southern Chinese city’s economy grew 0.2 per cent in the first three monthsAP - 76 words
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60 2013-05-11 19 Bloomberg Dhaka Rescuers combing through the debris of the garment factory building that collapsed in Bangladesh pulled out a woman who survived for 17 days under the rubble yesterday, even as the death toll from the disaster reached 1,045. The woman, identified as Reshma,Bloomberg - 60 words
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58 2013-05-11 19 AP Washington The Federal Reserve has broadened its oversight beyond banks and now monitors a wide-range of financial institutions that could hasten another financial crisis, chairman Ben Bernanke said yesterday. Among them is the so-called shadow banking system, which includes loans that areAP - 58 words
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Article, Illustration586 2013-05-11 20 It alleges that the bank ran a debt collection mill from 2008 to 2011 WP Washington AS the US economy struggled from 2008 to 2010, JPMorgan Chase filed hundreds of lawsuits a day against Americans for credit-card default using erroneous or flimsy evidence, according to a lawsuitWP - 586 words
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Article, Illustration442 2013-05-11 21 Restructuring costs, slumping sales lead to near-record 754b yen loss AP Tokyo JAPANESE consumer electronics giant Panasonic Corp yesterday reported a near-record net loss of 754 billion yen (S$9.34 billion) for the fiscal year through March due to restructuring costs and slumping sales,AP; PHOTO: BLOOMBERG - 442 words
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676 2013-05-11 21 Jewellers rush to beat central bank curbs on overseas bullion buys WP New Delhi GOLD imports by India, the world’s largest consumer, are set to exceed 100 tonnes for a second month in May as jewellers rush to beat centralWP - 676 words
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232 2013-05-11 21 Reuters Seoul SOUTH Korea yesterday said that it would allocate nearly three-quarters of the US$5 billion worth of additional fiscal spending plans in the next seven weeks to lift a still slow recovery in Asia’s fourth-largest economy. The government ofReuters - 232 words
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545 2013-05-11 22 President visits Texas to highlight school and industry programmes as ways to firm up growth AFP Manor, Texas US President Barack Obama has launched yet another effort to pressure Congress to act on his plans to invest in education and innovation to createAFP - 545 words
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372 2013-05-11 22 Reuters Rome ITALY’S Economy Minister said he did not believe that additional tax hikes and spending cuts would be necessary in 2013, outlining the new government’s plans for addressing a prolonged recession in the eurozone’s third-largest economy. Asked whether Italy would needReuters - 372 words
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Page 20 Advertisements
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Advertisement93 2013-05-11 20 as m i Era 0 z, da 1 EXPLORE 1 3 :f W An Evening With Feng Zhengjie Unveiling ZbBz’s inaugural art event S w fr U lEi si 7k f\\\ I a AV ym 7 S*4*PA MAY ISSUE OUT NOW AT LEADING BOOKSTORES r Kt»L T iil:H Antiques Of93 words
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Page 22 Advertisements
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Advertisement48 2013-05-11 22 Chevron is looking for a HR Business Partner MINDEF Singapore has vacancies for Defence Executive Officers MSD is recruiting a Senior Manager, Quality NTUC FairPrice Group has positions open for Team Leaders STATS ChipPAC is hiring Manufacturing Supervisors Check out more than 500 positions available in CATS Recruit48 words
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Advertisement51 2013-05-11 22 The Finder Singapore Download today! IT’S FREE www.TheFinder.com.sg W. DIRTY DANCING ...get up close to the stars m for a healthy happier you er EATING OUT? SEE PAGE 36 Short trips, cut u more spa Print Digital FREE DOWNLOAD Available on the awioioappoj. App store Google play MAY ISSUE OUT51 words
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Article8210 2013-05-11 23 Transaction date: May 10 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 13 13 10.6 0.8 10.7 62.3 5 3 A-Sonic 3.5 -0.2 73 3.5 3.4 3.5 4 3.7 25.1 AAT8,210 words
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Article1863 2013-05-11 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21.5 15 t 800 Super 19.3 19.3 21 3.3 5.2 5.8 34.5 6.2 2.8 t AA Grp 4.1 3.5 5.7 205 3.9 40 17.2 t1,863 words
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Article186 2013-05-11 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 2 5 0 0 0 8 2 5 Manufacturing 58 53 44 14 7 10 72 60 54 Commerce 22 18 21 3 4 5 25 22 26 Tpt/Stor/Comms 21 10 11186 words
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Article786 2013-05-11 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 6 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Annik Ltd 9-May-13 Low Kheng *Buy 123 0.10 ***** 27.05 ***** 27.10 Annik Ltd 9-May-13 Ow Chin786 words
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Article123 2013-05-11 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 27,736 27,736 99,229 99,229 Manufacturing 277,059 329,162 606,221 179,725 15,374 195,098 Commerce 279,122 32,845 311,967 122,447 4,099 126,546 Tpt/Stor/Comms 123,943 14,335 138,278 177,287 5,543 182,830 Finance 104,166 1,635 105,801 169,961 827 170,789 Construction 83,257 6,577123 words
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MARKETS
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Article94 2013-05-11 27 May 9 COCOA (£/tonne) Close Prev High Low May 13 1554 1556 1574 1546 Jul 13 1542 1558 1557 1539 Sep 13 1549 1565 1564 1546 Dec 13 1554 1569 1569 1552 COFFEE(US$/tonne) Close Prev High Low May 13 1992 1955 1997 1958 Jul 13 2043 2006 2048 199994 words
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Article66 2013-05-11 27 May 10 GOLD(US$/oz) May 09 May 10 Hong Kong 1478.30 1462.40 May 08 May 09 London 1467.16 1464.96 1467.93 1465.76 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 29.69 28.80 Source: UOB PLATINUM Lon (US$/oz) May 09 Close Previous PM Fix 1506.00 1494.00 AM Fix 1502.00 1489.00 Source:66 words
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Article60 2013-05-11 27 May 10 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 13 2289.0 2290.0 2290.0 2280.0 31 1183 Jun 13 2298.0 2305.0 2324.0 2295.0 1384 6729 Jul 13 2297.0 2319.0 2334.0 2296.0 ***** ***** Aug 13 2294.0 2316.060 words
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Article90 2013-05-11 27 May 10 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 12-Aug-13 0.24 6-Month BS*****N 01-Nov-13 0.25 1-Year BY*****H 02-May-14 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 100.07 5-Year N*****0T 2.375 01-Apr-17 100.0290 words
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Article155 2013-05-11 27 May 10 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2425 1.2439 1.0051 1.0054 Canadian dollar 1.2246 1.2260 0.9910 0.9906 Euro 1.6111 1.6127 1.3033 1.3035 NZ dollar 1.0324 1.0337 0.8351 0.8355 Sterling pound 1.9088 1.9105 1.5441 1.5442155 words
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Article118 2013-05-11 27 May 10 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.272 1.212 Can dollar 1.248 1.200 Euro 1.645 1.567 Sterling pound 1.942 1.868 NZ dollar 1.059 1.019 US dollar 1.258 1.199 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article105 2013-05-11 27 May 9 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 13 1491.25 1479.00 1500.25 1475.25 Jul 13 1408.75 1390.75 1410.00 1387.00 Aug 13 1340.00 1329.50 1340.75 1325.00 Sep 13 1264.25 1257.00 1265.25 1252.00 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low May 13 49.07 48.66 49.29105 words
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Article68 2013-05-11 27 May 09 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 103.89 0.07 WTI (Near Mth) 95.92 -0.60 Dubai (1-Mth F) 100.70 -0.24 Tapis blend 108.99 -0.72 Minas 101.79 -0.72 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 94.28 0.06 Jet Kerosene 116.25 0.41 US$/barrel OpecOil Basket Price 102.7568 words
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Article71 2013-05-11 27 May 09 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1862.00 1876.25 3 months 1890.00 1908.00 Copper, Grade A (US$/tonne) Cash 7331.00 7394.25 3 months 7354.00 7419.00 Lead (US$/tonne) Cash 1995.75 2045.00 3 months 2015.50 2064.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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373 2013-05-11 27 In local curr In S$ In US$ dy yr dy yr dy yr May 9 Index Change Change Change Change Change Change World Preliminary 1070.3 -0.2 14.1 -0.3 12.6 -0.4 11.9 EAFE Preliminary 892.8 -0.3 15.3 -0.6 10.9 -0.7 10.2 Europe Preliminary 1263.2 -0.1 10.1373 words
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PERSPECTIVE
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Article, Illustration1054 2013-05-11 28 / 29 Antonio L Rappa - Race-based politics, allegations of corruption and the marginalisation of opposition constituencies have left Malaysian voters disaffected. By Antonio L Rappa By Antonio L Rappa ~The writer is associate professor and head of management and security studies at SIM University’s School of Business. He wrote hisPHOTO: AP - 1,054 words
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Article, Illustration987 2013-05-11 28 / 29 Bill Rylance - By Bill Rylance ~The writer is chief executive officer of Watatawa, a Singapore-based strategy and communications consulting firm IS MCKINSEY Co the Chauncey Gardener of consulting? In the film Being There, the main character (played by Peter Sellers in his final and finest role) isPHOTO: AFP - 987 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1304 2013-05-11 30 / 31 Genevieve Cua - IP Global’s Tim Murphy says although the market has gone up a lot, there is also more affordability which bodes well for the next 10 years. By Genevieve Cua By Genevieve Cua gen@sph.com.sg REAL estate will continue to be rewarding over a 10-year horizon, evenPhotos: AFP, Reuters, Bloomberg;; Source: IP Global - 1,304 words
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BROKERS’ TAKE
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Article769 2013-05-11 30 / 31 Kenneth Lim - Compiled by Kenneth Lim Sell Maybank Kim Eng Research May 10 Close: S$4.62 DOWNGRADE to “sell”. Admittedly, this is a risky call amid the current liquidity and yield compression conditions, but we had held on to our “buy” call with the highest TP on the Street even when the769 words
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Article, Illustration874 2013-05-11 32 Russ Koesterich - Investing on a country or regional basis may help investors, says the writer but argues against BRIC as a bloc wealth insights Russ Koesterich ~The writer is chief investment strategist at BlackRock ONE of the most interesting and consequential developments in financial markets overPHOTOS: AFP, BLOOMBERG - 874 words
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Article, Illustration1608 2013-05-11 33 Teh Hooi Ling - But data collection needs to be inclusive and in the world of Internet options are aplenty SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent ~The writer is a CFA charterholder IN a paper entitled Real Estate Prices in Beijing, 1644 to 1840, ProfPHOTO: REUTERS - 1,608 words
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WEALTH REAL ESTATE
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Article1132 2013-05-11 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN APRIL 10 AND APRIL 16, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Marina Bay Suites Apt 10/04/2013 99 2067 6847 3313 The Clift Apt 15/04/2013 991,132 words
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Article, Illustration1202 2013-05-11 35 Kalpana Rashiwala - Run-up in prices in the past few years has led to net rental yields diving to below 3% By Kalpana Rashiwala kalpana@sph.com.sg Singapore SHOPHOUSE transactions spiked in the first quarter of this year, riding on a diversion of interest from investorsPHOTO: ARTHUR LEE - 1,202 words
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Page 36 Advertisements
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Advertisement41 2013-05-11 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. CONGRATULATIONS LEBRON JAMES. AWARDED MOST VALUABLE PLAYER FOR THE 2012-13 SEASON. FOURTH MVP TITLE IN FIVE YEARS. SINGAPORE AUDEMARS PIGUET BOUTIQUE 541 ORCHARD ROAD LIAT TOWERS #01-03 TEL (65) 6836 4918 audemarspiguet.com41 words
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Advertisement69 2013-05-11 1 Living MOTHER’S WAY Mothers are carving out new retail niches for other mums L2-4 BT THE BUSINESS TIMES WEEKEND MAY 11 12 2013 PHOTO: MAMA SHOPPE HOME GARDEN Let there be light L12-13 GOLF Shoe-in for teeing off in style L16 DINING Vegetables the new haute cuisine? L6-8 MOTORING Hot69 words
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BT Living
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LIVING
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Article, Illustration557 2013-05-11 2 / 3 Tay Suan Chiang - A growing number of yuppie mumpreneurs have their own designs on motherhood. BT Weekend finds out why their customers just can’t seem to get enough By Tay Suan Chiang taysc@sph.com.sg LIKE any doting mum, Shereen Ng, an education curriculum designer, likes to have attractive and good quality productsPHOTOS: SHEREEN NG, JOY LUCK CLUB - 557 words
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Article, Illustration478 2013-05-11 2 / 3 Sara Yap - By Sara Yap sarayap@sph.com.sg WHEN Ng Ling Siew thought of starting an online store selling products for mothers and babies, she wanted it to be a business with a difference one that helps other mothers, as well as women in need. That was how MamaPHOTOS: MAMA SHOPPE - 478 words
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Article, Illustration617 2013-05-11 2 / 3 Tay Suan Chiang - By Tay Suan Chiang HOW do you keep a child occupied? Some parents resort to using the iPad and other smart devices, but not Adora Tan-Richer. “I prefer to keep my girls occupied with books and crafts,” says Ms Tan-Richer, who is mum toPHOTOS: ADORA TAN-RICHER - 617 words
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Article, Illustration630 2013-05-11 2 / 3 Rachel Loi - By Rachel Loi btnews@sph.com.sg GOOGLE the word “multitasking”, and what comes up are links to articles advising against it. But Lynn Yeow De-Vito does not care. Not only does she have four boys to care for at home, including an eight-month-old baby and her restaurant-owner husband, MsPHOTO: YEN MENG JIIN - 630 words
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Article, Illustration621 2013-05-11 4 Rachel Loi - By Rachel Loi ASK a kid what his favourite game is and chances are he would say Angry Birds, Fruit Ninja, or some other game he discovered on his mother’s iPad. But pose that same question to Pamela Tan’s six-year-old son, Isaac, and his answerPHOTOS: YEN MENG JIIN - 621 words
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Article, Illustration482 2013-05-11 4 EVERYONE knows that a protective mother is a force to be reckoned with. So when sensitive skin posed a problem to Ms Laurel Tan’s baby boy Kyle, her motherly instincts led to what she calls an “obsession” with hunting down baby-safe products to keep hisPHOTOS: LAUREL TAN - 482 words
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DINING
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Article, Illustration1172 2013-05-11 5 Debbie Yong - He sprung forth a new gastrobotanics philosophy with his love of all things green and edible, and now Spanish 1-Michelin star chef Rodrigo de la Calle wants to launch an offshoot here. By Debbie Yong guest chef By Debbie Yong debyong@sph.com.sg RODRIGO de la Calle is upset. HePHOTO: RESORTS WORLD SENTOSA - 1,172 words
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Article, Illustration1898 2013-05-11 6 / 7 Debbie Yong - Meat maketh the man or doth it? Debbie Yong looks into the growing haute cuisine trend of letting vegetables take centre stage Debbie Yong debyong@sph.com.sg BUCKLE up. The global circuit of haute cuisine is experiencing a gradual but seismic shift, and tremors of the movement are just starting to1,898 words
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Article, Illustration726 2013-05-11 6 / 7 Debbie Yong - Places to dine at daily that have found flavour with more green-conscious diners. By Debbie Yong debyong@sph.com.sg Jaan Level 70, Equinox Complex, Swissotel The Stamford Z6837 3322 Celebrated chef Julien Royer recently tipped as the region’s chef to watch on the Asia’s 50 Best Restaurants list proves that726 words
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STYLE
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Article, Illustration631 2013-05-11 9 Corinne Kerk - Coco Chanel first sported the camellia motif in 1923, a key element of her personal style. Today, her high jewellery range exalts the flower to cult status. By Corinne Kerk btnews@sph.com.sg IT is a familiar Chanel motif a flower that appears on everything from clothes andPHOTOS: CHANEL - 631 words
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Article, Illustration869 2013-05-11 10 / 11 May Yip - For one night, the former army barracks of Loewen Cluster was transformed into a glitzy venue for the world premiere of Chanel's Cruise collection. By May Yip By May Yip THE choice of location wasn’t the most novel (Belgian designer Dries Van Noten had held his Spring/Summer 2008 womenswearPHOTOS: JOHN HENG - 869 words
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Article, Illustration907 2013-05-11 10 / 11 May Yip - Move over, 2.55. The head of Chanel’s fashion business, Bruno Pavlovsky, declares that the future of fashion lies in, well, clothes. By May Yip By May Yip btnews@sph.com.sg LUXURY is a lucrative business, and there is nothing more lucrative than the dispensing of “entry-level” wares such asPHOTO: JOHN HENG - 907 words
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HOME & GARDEN
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Article, Illustration1123 2013-05-11 12 / 13 Breaking up the grid of a 35-year-old mass-produced l l terrace house was a turning point for owners Josephine and A l an Tan. By tearing down wa l ls and putting up g l ass divides, the once sombre house i s now a sunbathed,PHOTOS: YEN MENG JIIN - 1,123 words
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TRAVEL
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Article, Illustration1485 2013-05-11 14 / 15 Cheah Ui-Hoon - The Liechtenstein princely family’s two appointmentonly museums in Vienna have a storied heritage that adds to the fairy-tale quality of their art collections, as Cheah Ui-Hoon discovers Cheah Ui-Hoon uihoon@sph.com.sg CINDERELLA’S carriage is real. So you might think at the sight of the magnificent Golden Carriage takingPHOTO: REUTERS; ALL PHOTOS OF LIECHTENSTEIN PALACE BY CHEAH UI-HOON - 1,485 words
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SPORTS
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Article, Illustration1088 2013-05-11 16 John Leicester - By John Leicester ~The writer is an international sports columnist for The Associated Press AP Paris IN getting machines to help men spot when goals are scored, football is making a mistake. This pact with the devil of goal-line technology will comeAP; PHOTO: AP - 1,088 words
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GOLF
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Article, Illustration1238 2013-05-11 17 Justine Moss - Producing a lightweight shoe is one of the current trends in the golf shoe market today. By Justine Moss By Justine Moss btnews@sph.com.sg FOR the average golfer, the desire to hit the ball further and with more accuracy would more often than not take precedencePHOTO: FOOTJOY - 1,238 words
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MOTORING
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Article, Illustration825 2013-05-11 18 Samuel Ee - The new Range Rover Sport is sportier even though it now comes with seven seats. By Samuel Ee samuelee@sph.com.sg A GAY don in Italy may be a mafioso’s nightmare, but Gaydon in England has to be every car nut’s dream. Here at Land Rover’s headquarters in the British825 words
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Article, Illustration717 2013-05-11 19 Samuel Ee - The Jaguar F-Type is a breakthrough roadster for the British carmaker. By Samuel Ee samuelee@sph.com.sg IT is lower, wider and shorter than any other Jaguar in history and ultra lightweight to boot. Its distinctive styling reveals exquisite little details but not everyone will agree that the all-new Jaguar717 words
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Article, Illustration604 2013-05-11 20 Samuel Ee - Until more hard-wearing tyres are available, some careful driving may be necessary to conquer the Spanish Grand Prix. By Samuel Ee f1 watch By Samuel Ee samuelee@sph.com. sg FORMULA One returns to its home ground this weekend and Ferrari’s Fernando Alonso to his home race. The Gran PremioPHOTO: AFP - 604 words
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Advertisement985 2013-05-11 8 wine&dine with BTWeekend Peach Blossoms Marina Mandarin Singapore 6 Raffles Boulevard, Level 5 Exquisitely The Best For Mum Till May 31,2013 Treat Mum to a luxurious and wholesome meal at Peach Blossoms as we introduce our Bird’s Nest promotion in the month of May. Now, you can savour this prized985 words
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Advertisement258 2013-05-11 12 / 13 Tf /f HEART, STROKE CANCER CENTRE ~A medical centre of Singapore Heart. Stroke and Cancer Centre' \Preserving Health and Longevity i Expertise in the Prevention, early Detection and Management of Heart disease. Stroke and Cancer Multi-disciplinary team at highly experienced specialists in various fields led by internationally renowned Cardiologist Medical258 words
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Advertisement32 2013-05-11 17 HOME NEE S Can't find your keys? Get a locksmith! To find out more, turn to CLASS 105 in CATS Classified in The Straits Times now > BUY IT• SELL IT* FIND IT32 words
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