The Business Times, 6 July 2013
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2013-07-06
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The Business Times
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Title Section15 2013-07-06 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g JULY 6-7, 2013 S$1.00| S$1.00| MICA (P) 075/08/201215 words
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471 2013-07-06 1 Pauline Ng - Rising household debts, bankruptcies prompt tough action from central bank By Pauline Ng btworld@sph.com.sg Kuala Lumpur WITH household debt escalating to a steep 83 per cent of gross domestic product (GDP) and the number of bankruptcies on the rise, Malaysia’s central bank yesterday471 words
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657 2013-07-06 1 latest us data Reuters Washington JOB growth in the US increased more than expected in June, which could draw the Federal Reserve closer to implementing a plan to start scaling back its massive monetary stimulus later this year. Employers added 195,000 new jobsReuters - 657 words
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Page 1 Advertisements
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Advertisement183 2013-07-06 1 the the TREND AND SHOW ME THE MONEY Ranking Singapore’s pension scheme 33 MOTORING The electrifying P1 L19 the raffles conversation TREND MICRO CO-FOUNDER AND CEO EVA CHEN 10-11 SMARTPHONE WOES Samsung falls after profit forecast SHARES of Samsung Electronics were battered yesterday after it forecast its Q2 earnings would183 words
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Advertisement41 2013-07-06 1 Indulge in Pan Pacific Singapore’s special 4-dine-for-the-price-of-3 buffet dinner at Edge. Go to www.btinvest.com.sg/specials/bteats and print out the voucher to enjoy this offer. This is the first in a series of dining promotions exclusive to BT readers. See Living Page 941 words
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TOP STORIES
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Article, Illustration63 2013-07-06 2 NEWS Top Stories 2-8 Week In Review 9 Raffles Conversation 10-11 Companies 12-15 From the Desk of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Design L2-5 Dining L6-8 BT Promotion L9 Home Garden63 words
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MARKETS
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Article59 2013-07-06 2 GSTI 3,169.73 (+22.61) GSTI FUTURES 3,164.00 (+23.00) GSIMSCI 355.99 (+2.84) GSIMSCI FUTURES 354.90 (+4.10) STOCKS Friday Change KL COMP 1,772.27 +0.93 NIKKEI 225 14,309.97 +291.04 HANG SENG 20,854.67 +386.00 SET 1,441.33 +10.45 JAKARTA 4,602.81 +20.87 MANILA 6,500.48 +36.22 KOSPI 1,833.31 -5.83 SHENZHEN B 772.67 +0.13 MUMBAI IND 19,495.82 +84.9859 words
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Article29 2013-07-06 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.355 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 2013-07-06 2 US$ S$ US$ (S$ per US$) 1.277 (US$/S$ per 1.501 1.917 EURO(US$/S$/€ 1.289 1.646 Foreign currency per US$ S$ YEN 100.30 78.50 RM 3.189 2.496 HK$ 7.754 6.071 BAHT 31.16 24.39 RUPIAH 9,943 7,785 RENMINBI 6.133 4.802 INDIAN RUPEE 60.47 47.35 A$ 1.091 0.855 NZ$ 1.278 1.00148 words
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Article, Illustration698 2013-07-06 2 Amit Roy Choudhury - Analysts point to concerns about smartphone market nearing saturation, TV price war By Amit Roy Choudhury amit@sph.com.sg Singapore SHARES of South Korean electronics giant Samsung Electronics, the largest smartphone maker in the world, were battered yesterday after it forecast that itsPHOTO: AP - 698 words
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Article, Illustration776 2013-07-06 4 Lee U-Wen - It is a serious problem for Singapore’s leadership renewal By Lee U-Wen leeuwen@sph.com.sg Singapore ATTRACTING the best people into politics will get more difficult in the coming years, one chief turn-off being the risk of getting flamed online and affecting families inPHOTO: DESMOND WEE/THE STRAITS TIMES - 776 words
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344 2013-07-06 4 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg Singapore SINGAPORE Telecommunications (SingTel) is extending its run as title sponsor to include the 2013 Formula One (F1) Singapore Grand Prix (Sept 20-22), which will make it the sixth year in a row that the telco group has held the position.344 words
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723 2013-07-06 5 Malminderjit Singh - Wealthiest here the world’s 3rd most thrifty, behind Hong Kong and Japan By Malminderjit Singh msingh@sph.com.sg Singapore UNCLE Scrooge would be proud of Singapore’s rich as they are reportedly more likely to save or invest their wealth than spend it on a lavish723 words
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Article, Illustration744 2013-07-06 6 Kelly Tay - Barry Callebaut CEO even dreams of making S’pore its global HQ By Kelly Tay kellytay@sph.com.sg Singapore CHINA loves chocolate; it just doesn’t know it yet. At least that’s what Juergen Steinemann, chief executive of the world’s largest cocoa and chocolate manufacturer Barry Callebaut, believes.744 words
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365 2013-07-06 6 Andy Mukherjee - REUTERS BREAKINGVIEWS By Andy Mukherjee INDONESIA’S anti-corruption drive in recent years is supposed to improve the nation’s investment climate, which ranks at a lowly 128 among 185 economies surveyed by the World Bank just behind Ethiopia. But by focusing on wrong targets,365 words
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Article, Illustration596 2013-07-06 7 Nisha Ramchandani - Key growth markets include India, China, Indonesia, M’sia, Thailand By Nisha Ramchandani nishar@sph.com.sg Singapore THE Wyndham Hotel Group, which runs the newly opened Ramada Singapore and Days Hotel properties at Zhongshan Park, is looking to grow its reach with additional hotels in Singapore andFILE PHOTO - 596 words
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Article, Illustration607 2013-07-06 8 Pilot project in Shanghai to make currency more freely convertible NYT Shanghai CHINA has taken another step towards loosening its capital controls and making its currency more freely convertible by approving the creation of a new kind of free trade zone. The country’sNYT; PHOTO: BLOOMBERG - 607 words
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641 2013-07-06 8 AP Beijing CHINA yesterday promised sweeping changes to its state-run banking industry including allowing the creation of private lenders to support its credit-starved entrepreneurs and curb what regulators worry are growing financial risks. Analysts including the World Bank say an overhaul of aAP - 641 words
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Advertisement18 2013-07-06 2 JERRY LUM Snr Director MBA CES :b CEA Licence no: R *****6 jerrylum.myweb HP 8288 0098 View sg18 words
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Page 3 Advertisements
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Advertisement64 2013-07-06 3 A i E r ARD A The award-winning 3.6L Pentastar V6 Engine. Exceptional blend of high torque, fuel efficiency and low emission Experience the all new Chrysler 300C now. $248,000 Incl COE CO 2 emission: 227 g/km; Fuel consufffption: 9.71/lOOkm y ■•I r R V r? STAY DRIVEN CHRYSLER JEEP64 words
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Page 4 Advertisements
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Advertisement95 2013-07-06 4 r ORLD’S PREMIER AUCTIONEERS OF MODERN AND VINTAGE TIMEPIECE WWW.ANTIQUORUM.COM SINGAPORE VALUATION DAY Saturday to Sunday 20 th -21 th July, 2013 10am-6pm "BY APPOINTMENT** Four Seasons Hotel Singapore Business Centre, 2 nd floor, 190 Orchard Boulevard, Singapore *****6 v j ‘JF Watch Expert Mr. Genki Sakamoto, will be available95 words
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Advertisement9 2013-07-06 4 45Long road to finding haze solution: PM, Page 179 words
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Page 5 Advertisements
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Advertisement7 2013-07-06 5 ~For the full report, go to http://www.btinvest.com.sg/reports7 words
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Advertisement54 2013-07-06 5 s PEARL ISLAND Sentosa Cove, Singapore Sentosa Cove The world's most desirable address. Long-Term Social Visit Pass Scheme* Exclusive oceanfront international subject to government approval residential community. Pearl Island 4 levels of exquisite living spaces. Foreign individuals may be eligible to buy Photo 6271 2811 www.pearlisland.com.sg For enquiry: 6100 862854 words
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Page 7 Advertisements
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Advertisement145 2013-07-06 7 n 5^ 5 V BESt-i I I wm G G tS? w YOUR TRUSTED HEALTHCARE PARTNER 1 I, MANUFACTURING HafflesOne One Group One Practice Your Corporate Healthcare Solution As corporate healthcare needs have evolved significantly in the recent years, Raffles Medical Group’s RafflesOne experience seeks to confer operating benefits and145 words
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Page 8 Advertisements
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Advertisement50 2013-07-06 8 TMIS is looking for a Manager (HOD, Sales Marketing) Ace Equipment has a vacancy for an Accountant SilkAir has a position open for a Business Solutions Analyst ExxonMobil is recruiting Marine Quality Assurance Advisors Cheers is hiring a Training Executive Check out more than 400 positions available in CATS Recruit50 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK July 1-5, 2013
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Article40 2013-07-06 9 CHINA’S President Xi Jinping said that officials should not be judged solely on their record in boosting gross domestic product (GDP), the latest signal that policymakers are prepared to tolerate slower economic expansion.40 words
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54 2013-07-06 9 SC Global has managed to cancel the qualifying certificates (QCs) that were issued to its developments after it delisted from the stock market in March, saving millions of dollars it would otherwise have to pay for failing to meet the sales deadline under54 words
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57 2013-07-06 9 IN spite of recent turmoil in equity markets around the world, the active initial public offering (IPO) market in Singapore looks set to continue in the second half of the year. Nonetheless, IPO valuations might have to be adjusted to take into consideration57 words
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Article56 2013-07-06 9 THE Urban Redevelopment Authority’s second-quarter flash estimates showed that its benchmark private home price index rose 0.8 per cent from Q1, supported by a 3 per cent escalation in prices of non-landed homes in suburban areas. This compares with respective increases of 0.6 per cent56 words
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59 2013-07-06 9 SINGAPOREANS’ obsession with property has pushed their debt levels to a steep 75 per cent of GDP, doubling from 38 per cent in 2000. Household leverage at 75 per cent of GDP is high relative to other countries in the region, says a59 words
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62 2013-07-06 9 SWISS bank UBS AG has become the third bank to open a gold vault here, catering to investors who value the long-term stability gold affords, even as the market turns bearish on the yellow metal. UBS said it started storing gold for62 words
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51 2013-07-06 9 CHINA’S only sovereign wealth fund dedicated to infrastructure in the Asean region is pioneering a commercial investment model not seen in other such Chinese funds. Three years in operation and more than US$500 million invested, the China-Asean Investment Cooperation Fund has seen mixed51 words
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62 2013-07-06 9 RIDING on the rush for physical gold in Singapore, an online trading platform for physical bullion investors has been launched here. The Singapore Precious Metals Exchange (SGPMX) will allow retail customers worldwide to buy and sell physical gold or silver from one another,62 words
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Article, Illustration21 2013-07-06 9 SGPMX founder and CEO Victor Foo (left) and Certis Cisco COO Chua Chwee Koh at the MOU signing.21 words
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67 2013-07-06 9 THE Republic’s manufacturing sector continued to buck the regional trend of faltering factory activity last month, as the purchasing managers’ index (PMI) rose to a two-year high. But the sub-indices tracking new domestic and export orders have slipped,67 words
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58 2013-07-06 9 TEMASEK Holdings saw the value of its portfolio grow to a record $215 billion at the close of its financial year ended March 31, 2013 a performance it attributed to havi n g“ ma i n t a i ne d a s t58 words
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77 2013-07-06 9 ECONOMIC and political prospects for Japanese Prime Minister Shinzo Abe received a further boost on Thursday with news that fiscal and monetary conditions have begun to improve in the world’s third largest economy under the impact of “Abenomics”. The government’s tax revenue rose to77 words
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39 2013-07-06 9 EGYPT’S chief justice Adly al-Man-sour was sworn in as interim president on Thursday after the army ousted and detained Mohamed Morsi in an abrupt end to the Islamist’s first year in office.39 words
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Article74 2013-07-06 9 US DATA July 10 May wholesale inventories July 11 June import/export prices July 12 June PPI CHINA DATA July 9 CPI, producer price index July 10 Trade balance, exports, imports SINGAPORE DATA July 8 June international reserves July 12 Q2 advance GDP estimates EVENTS July74 words
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Page 9 Miscellaneous
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Miscellaneous338 2013-07-06 9 Across 1 Severe strain unsettled man (10) 9 Lock up silver in church (4) 10 Make an impression on Telegraph, perhaps, but one gets fired before one retires! (10) 11 New missile contract (6) 12 It’s hell for nine at sea (7) 15 Return roster to dog warden (7) 16338 words
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Miscellaneous24 2013-07-06 9 SATURDAY with Ludwig INTERNET GAMBLING CLICK TO PLAY ‘You’ve heard about people who earn money online well, he’s one of those who lose them.’24 words
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THE RAFFLES CONVERSATION
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Article, Illustration2305 2013-07-06 10 / 11 Amit Roy Choudhury - Eva Chen shares the story of her journey from sport writing to the top of anti-virus software firm Trend Micro. By Amit Roy Choudhury By Amit Roy Choudhury amit@sph.com.sg TREND Micro’s CEO, Eva Chen, does not fit into the image of a hard-nosed, go-get-ting power businesswoman. RelaxedYEN MENG JIIN - 2,305 words
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COMPANIES
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565 2013-07-06 12 Grace Leong - It rebuts claims by US firm over its Titanic-themed exhibition By Grace Leong gleong@sph.com.sg Singapore MAINBOARD-listed Kingsmen Creatives, whose subsidiary is embroiled in an intellectual property infringement dispute with the parent of the US salvor of the RMS Titanic, said the565 words
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378 2013-07-06 12 Carine Lee - By Carine Lee carinel@sph.com.sg Singapore THE managing director of Viz Branz Limited has through his special purpose vehicle made a 78 cents per share mandatory unconditional cash offer for all the issued and paid-up ordinary shares in the Singapore-listed manufacturer and exporter of378 words
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264 2013-07-06 12 Ng Zhuo Yang - By Ng Zhuo Yang ngzy@sph.com.sg Singapore THE Ong family of Armstrong Industrial Corporation and a Japanese group have teamed up to take the mainboard-listed company private. A joint announcement yesterday by Armstrong and AGP Asia Holding Pte Ltd said264 words
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282 2013-07-06 12 Kenneth Lim - By Kenneth Lim kenlim@sph.com.sg Singapore CAPITALAND, Genting Singapore PLC and Hotel Properties have disposed of their jointly owned mixed developments in London for £46.9 million (S$89.6 million) in cash and the discharge of about £175.3 million in debt, the companies announced yesterday. The282 words
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430 2013-07-06 13 Carine Lee - It expects to raise between $6.73m and $8.96m from issue of up to 56m new shares at 1 6 cents each By Carine Lee carinel@sph.com.sg Singapore TUNG Lok Restaurants (2000) Ltd yesterday announced plans to undertake a renounceable non-underwritten rights issue of up to430 words
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289 2013-07-06 13 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg Singapore MAINBOARD-listed Advanced Integrated Manufacturing Corp (AIM) is looking to purchase a vacant bungalow lot and three condominium units in Penang for RM24.2 million (S$9.7 million). Providing a breakdown, AIM said it is looking to acquire a 19,791289 words
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316 2013-07-06 13 Teo Si Jia - By Teo Si Jia teosj@sph.com.sg Singapore BOUSTEAD Singapore’s industrial real estate arm, Boustead Projects, will design and build technology firm Seagate’s research and development centre at the Fusionopolis, in a deal valued at over $100 million. The group said in a filing to the316 words
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379 2013-07-06 13 Annabeth Leow - By Annabeth Leow leowhma@sph.com.sg Singapore THE initial public offering (IPO) of building maintenance and estate upgrading company ISOTeam was launched yesterday for a listing on Catalist. The 15-year-old company is offering 32.2 million placement shares, comprising 30.73 million new379 words
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Article, Illustration606 2013-07-06 14 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent IF IT looks like central banks might stop with their liquidity life support, or if it looks like the economic situation is improving, then the preferred strategy is to go short at every available opportunity. However,606 words
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Article114 2013-07-06 14 Stock name Close Change CapMallsAsia 1.875 +0.020 CapitaLand 3.060 +0.010 CapitaMall 1.970 +0.010 CityDev 10.750 +0.100 ComfortDelGro 1.845 +0.015 DBS Grp 15.900 +0.160 GLP 2.880 +0.040 Genting SP 1.365 +0.005 Golden Agri 0.565 +0.010 HK Land 6.790 -0.020 HPH Trust US$ 0.745 +0.005 JMH 60.000 -0.310 JSH 36.800114 words
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548 2013-07-06 14 Kenneth Lim - By Kenneth Lim kenlim@sph.com.sg Singapore SINGAPORE and North Asian equities are still attractive despite recent concerns about tapering of monetary easing in the US and slower growth in China, because multiples are still historically low and markets are not properly pricing548 words
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Article196 2013-07-06 14 VOL CLOSE S i ngHaiy i 141 961 2.2 0 0 0 0 LifeBrandz 120 01 1 1 .4 0 2 16 7 HanKore 1 1 7 ,487 4.6 0 3 7 0 Mirach Energy 78 268 31 0 5 1 6 H i ap Tong 74196 words
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Article60 2013-07-06 14 TOP GAINERS BY CENTS CLOSE UP IS S&P500 ***** 176.2 0.9 DBXT MSJAP 10US$ 4532 80.4 1.4 JSH 3680 76.6 1.7 UOB.ES.1307 2044 62.0 3.1 DBXT MSAsExJp 10US$ 3082 39.6 1.0 DBS Bk 4.7% NCPS 100 ***** 35.0 0.3 UOB 2033 26.0 1.3 DBS.ES.1307 1598 25.0 1.6 Lyxor60 words
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Article62 2013-07-06 14 BY CENTS CLOSEDOWN DBXT MSKorea 10US$ 5151 -264.3 -3.9 GLD 10US$ ***** -203.0 -1.3 Hyflux 6% CPS 10 ***** -178.0 -1.7 JMH 6000 -39.6 -0.5 UOB 5.05%NCPS 100 ***** -20.0 -0.2 Lyxor EmergingMkts 1 947 -19.2 -1.6 IS LC BND 100US$ 974 -17.9 -1.4 IS MSCI Spore 127262 words
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Business briefing
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39 2013-07-06 14 SINGAPORE Technologies Electronics, a unit of ST Engineering, has secured about $206.8 million worth of contracts for rail electronics, satellite communications and communications projects in the second quarter of 2013.39 words
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Article41 2013-07-06 14 HO BEE Investment has set up a subsidiary, HB Doncaster, in Australia to acquire a residential site in the state of Victoria. The 5,457 sq m site has a planning approval for 185 residential apartments.41 words
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Article30 2013-07-06 14 KSH Holdings has established a $300 million mul-ti-currency medium term note programme, with DBS Bank appointed to act as the sole arranger and dealer.30 words
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Article, Illustration329 2013-07-06 15 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg Singapore YTL Corporation Berhad has executed the conversion of its convertible preferred units (CPU) in Starhill Global Reit, raising its stake from 29.38 per cent to 36.27 per cent. This follows YTL Corporation and its subsidiary’s conversion329 words
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308 2013-07-06 15 Ven Sreenivasan - By Ven Sreenivasan ven@sph.com.sg Singapore CAMBRIDGE Industrial Trust (CIT) is selling its stake in a Hillview Avenue 10-storey light industrial building for $140.8 million. The stake is being bought by mainboard-listed Envi-ro-Hub Holdings and BS Capital, a privately owned vehicle of308 words
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285 2013-07-06 15 Lynn Kan - Geden Holdings will redeliver another later this month By Lynn Kan lynnkan@sph.com.sg Singapore SOME good news was in store for the much embattled ship leasing trust, First Ship Lease Trust, whose trustee-manager yesterday made public the shock resignations of four board directors including285 words
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Page 15 Advertisements
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Advertisement449 2013-07-06 15 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF XIN RESTAURANT PTE. LTD. (Co. Reg. No.: *****1741K) (Incorporated in Singapore) (In Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the Members of XIN RESTAURANT PTE. LTD. convened and held at 15A Kaki449 words
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Advertisement83 2013-07-06 15 JULY ISSUE OUT NOW! SMART WATCH SHOOTOUT GADGETS ON YOUR WRIST M >* One Box to Rule Them All Everything you need to know about C Microsoft's Xbox one gaming console p INSIDE SMARTPHONE PHOTOGRAPHY GOOGLE I/O BLACKBERRY LIVE H GUIDE: PART 2 APPLE WWDC COMPUTEX 2013 M IN THIS83 words
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FROM THE DESK OF
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Article, Illustration833 2013-07-06 16 Richard Margetic - Putting in place a cogent social media strategy can help boost advocacy for your products which in turn impacts purchase FROM THE DESK OF Richard Margetic Global director, social media and community at Dell SOCIAL networks connect 85 per cent of the world, with833 words
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SINGAPORE
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533 2013-07-06 17 Lee U-Wen - The issue is set to be debated in Monday’s Parliament session as 24 MPs are fielding 30 haze-related questions By Lee U-Wen leeuwen@sph.com.sg FINDING a solution to the haze problem will take a very long time, even with “the best will in533 words
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415 2013-07-06 17 Malminderjit Singh - By Malminderjit Singh msingh@sph.com.sg MINISTER for Foreign Affairs and Law K Shanmugam said the government had served notice that it would tighten the flow of foreign workers years ago, but businesses here not expecting follow-through on this had not taken the message415 words
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Article, Illustration568 2013-07-06 17 Jaime Ee, Debbie Yong - By Jaime Ee, Debbie Yong jaime@sph.com.sg d e by o ng@s p h .co m .sg HE came, he chopped a little but mostly he was mobbed by a deluge of fans who turned Maxwell Food Centre into a celebri-ty-driven circus not seen sincePHOTO: JOSEPH NAIR - 568 words
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Article, Illustration385 2013-07-06 18 Ng Zhuo Yang - Health ministry plans to introduce enhanced standards for nursing home licensing by 2015 By Ng Zhuo Yang ngzy@sph.com.sg THE Ministry of Health (MOH) has announced its intention to introduce an enhanced set of nursing home licensing standards by 2015. This is partFILE PHOTO - 385 words
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Article417 2013-07-06 18 THE Court of Appeal ruled yesterday that the Prime Minister must call an election when a parliamentary seat falls vacant; he does not have “unfettered discretion” over the timing of this by-election. This overturns a High Court judgment made last year, which came after a Hougang417 words
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Page 18 Advertisements
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Advertisement288 2013-07-06 18 THE BUSINESS TIMES SATURDAY SPECIAL A complimentary Tom Yum chicken soup for two Two diners to qualify. No minimum spending. Just that a truly enjoyable Thai dining experience is not complete without our signature Tom Yum soup Venue: Ruby, Thai Inspired Cuisine Restaurant Bar 9 Raffles Boulevard #01-06/07/08 Millenia Walk288 words
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WORLD
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350 2013-07-06 19 Plan is to wind down industries plagued by overcapacity, move to high-end manufacturing Reuters Beijing CHINA’S government said yesterday that it will harness its financial sector to help bring about an orderly closing of some factories in industries plaguedReuters - 350 words
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Article, Illustration555 2013-07-06 19 Reuters London THE Middle East coronavirus that has killed 40 people since emerging late last year has not yet reached pandemic potential and may simply die out, according to new estimates of how easily it is transmitted. In a study in TheReuters - 555 words
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305 2013-07-06 19 Reuters Beijing A SENIOR Chinese official said yesterday that the government did not know precisely know how much debt local governments had built up and warned that it could be more than previous estimates. Estimates of local government debt range fromReuters - 305 words
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Article, Illustration668 2013-07-06 20 Trend exposes Spain’s political risks Bloomberg London SPANISH bonds are losing their allure as the near collapse of the government in neighbouring Portugal highlights the political risks closer to home. After returning more than twice as much as their Italian counterparts inBloomberg; PHOTO: REUTERS - 668 words
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638 2013-07-06 20 AFP Brussels EUROPEAN security experts are set to meet their US counterparts in Washington next week as European Union (EU) nations, incensed by reports of US snooping, link negotiations on a mega EU-US trade deal with talks on intelligence-swapping. Italy and FranceAFP - 638 words
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Article, Illustration512 2013-07-06 22 President warns that it may not be able to raise money on bond markets when its bailout programme expires AFP Lisbon PORTUGAL’S Prime Minister Pedro Passos Coelho patched up his ruling coalition yesterday to avert a potentially calamitous breakup as the nation’s president warned ofAFP - 512 words
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478 2013-07-06 22 AP Johannesburg NELSON Mandela is in critical but stable condition, the South African government said yesterday, while a close friend said the anti-apartheid leader was conscious and responsive earlier this week. The government reiterated that Mr Mandela is not in a vegetative state,AP - 478 words
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177 2013-07-06 22 Reuters Nicosia CRIMINAL investigators will help judges in Cyprus dig deeper into what caused a financial crisis that forced the island to ask for a bailout by international lenders, authorities said yesterday. An inquiry into Cyprus’ financial practices led by three former Supreme CourtReuters - 177 words
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Page 21 Advertisements
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Advertisement214 2013-07-06 21 Best of Both Worlds '-‘S'' i«« 4MiMt0fe i. ==sCs THE BUSINESS TIMES 19-20 The Business Times THE BUSINESS TIMES B to scoop up bulk HC Midget giveaways Lit. ,E, .4 =sr OUE buys tallest bu.Virx, Cqn m Lffy U, The Business Times AIMn-One Package and Forbes Asia magazine. Read corporate214 words
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Page 22 Advertisements
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Advertisement51 2013-07-06 22 HOT PROPERTY E 520w'’9 0 M V cars. Ce ng lift Pool. Park 4 QUSter 4ro0/ E 4O0O snft E ph D Land «y.4en°s^^4S° ,d2 5 LOOKING FOR HIGH CEILING? Check this and many other properties in CATS Classified in The Straits Times now! WATS BUY IT SELL IT FIND51 words
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SGX
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Article8085 2013-07-06 23 Transaction date: Jul 5 Transaction date: Jul 5 Transaction date: Jul 5 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 12.2 12.3 12.8 10.6 0.9 10.1 58.4 8.8 3 A-Sonic8,085 words
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Article1785 2013-07-06 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 $mil 21.5 17.1 t 800 Super 19.8 19 19.8 3.3 5.1 5.9 35.4 6.2 2.8 t AA Grp 2.8 2.8 5 140 2.7 10.9 7.1 t1,785 words
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Article186 2013-07-06 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 5 0 0 0 0 8 5 0 Manufacturing 58 34 37 14 1 11 72 35 48 Commerce 25 16 19 6 3 2 31 19 21 Tpt/Stor/Comms 26 6 6186 words
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Article789 2013-07-06 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jul 1 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) CWT Ltd 3-Jul-13 Loi Kai Meng *Buy 1000 1.46 *****0 37.59 *****0 37.75 CWT Ltd 3-Jul-13 Loi789 words
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Article123 2013-07-06 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 34,947 34,947 57,623 57,623 Manufacturing 258,493 57,653 316,146 102,108 8,233 110,341 Commerce 220,882 66,359 287,241 80,717 4,389 85,105 Tpt/Stor/Comms 105,870 88,601 194,471 110,991 34,201 145,192 Finance 39,548 251 39,799 139,374 93 139,467 Construction 69,473 9,013123 words
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MARKETS
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Article94 2013-07-06 27 Jul 4 COCOA (£/tonne) Close Prev High Low Jul 13 1510 1476 1517 1479 Sep 13 1532 1498 1540 1502 Dec 13 1535 1506 1541 1509 Mar 14 1525 1501 1529 1507 COFFEE(US$/tonne) Close Prev High Low Jul 13 1790 1794 1810 1789 Sep 13 1820 1810 1822 180394 words
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Article66 2013-07-06 27 Jul 5 GOLD(US$/oz) Jul 04 Jul 05 Hong Kong 1263.00 1250.90 Jul 03 Jul 04 London 1257.34 1247.49 1259.56 1249.71 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.47 24.68 Source: UOB PLATINUM Lon (US$/oz) Jul 04 Close Previous PM Fix 1339.00 1361.00 AM Fix 1343.00 1362.00 Source:66 words
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Article118 2013-07-06 27 Jul 05 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.192 1.136 Can dollar 1.234 1.187 Euro 1.682 1.602 Sterling pound 1.954 1.879 NZ dollar 1.021 0.982 US dollar 1.300 1.239 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article57 2013-07-06 27 Jul 5 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 13 2376.0 14 1285 Aug 13 2370.0 2385.0 2388.0 2350.0 4038 ***** Sep 13 2364.0 2385.0 2387.0 2345.0 ***** ***** Oct 13 2361.0 2379.0 2382.0 2338.0 608857 words
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Article92 2013-07-06 27 Jul 5 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.26 0.20 0.2 6-Month BS*****X 27-Dec-13 0.28 1-Year BY*****H 02-May-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 100.08 5-Year N*****0T 0.592 words
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Article155 2013-07-06 27 Jul 5 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1697 1.1708 0.9161 0.9164 Canadian dollar 1.2130 1.2142 0.9504 0.9500 Euro 1.6454 1.6466 1.2887 1.2888 NZ dollar 0.9988 0.9997 0.7823 0.7825 Sterling pound 1.9160 1.9173 1.5006 1.5007155 words
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Article104 2013-07-06 27 Jul 3 SOYBEANS(5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 13 1583.50 1573.00 1593.00 1572.75 Aug 13 1441.25 1433.50 1450.00 1432.75 Sep 13 1297.50 1293.75 1308.50 1292.50 Nov 13 1250.75 1242.50 1259.75 1241.75 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low Jul 13 47.22 46.92 47.33 46.82104 words
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Article68 2013-07-06 27 Jul 04 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 104.70 -1.14 WTI (Near Mth) 101.06 0.02 Dubai (1-Mth F) 100.99 0.29 Tapis blend 110.26 0.52 Minas 105.81 0.52 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 95.72 0.44 Jet Kerosene 119.03 0.80 US$/barrel OpecOil Basket Price 102.3968 words
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Article72 2013-07-06 27 Jul 04 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1767.75 1763.25 3 months 1812.00 1807.00 Copper, Grade A (US$/tonne) Cash 6954.50 6996.00 3 months 6950.00 6993.00 Lead (US$/tonne) Cash 2065.25 2070.00 3 months 2074.00 2078.00 Nickel (US$/tonne) Close Previous Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)72 words
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373 2013-07-06 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 4 Index Change Change Change Change Change Change World Preliminary 1047.9 0.7 11.7 0.4 12.6 0.5 8.2 EAFE Preliminary 862.4 1.7 11.3 1.1 8.1 1.3 3.9 Europe Preliminary 1220.3 2.6 6.4373 words
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PERSPECTIVE
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Article, Illustration1211 2013-07-06 28 / 29 Peter Brabeck-Letmathe, Asit Biswas - Rising demand, poor management practices and erratic rainfall patterns are causing water crises. By Peter Brabeck-Letmathe and Asit Biswas By Peter Brabeck-Letmathe, Asit Biswas ~Peter Brabeck-Letmathe is the chairman of the board of Nestle and chairman of 2030 Water Resources Group. Asit Biswas is Distinguished Visiting Professor atPHOTO: REUTERS - 1,211 words
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Article, Illustration730 2013-07-06 28 / 29 Lee Kuan Yew - By Lee Kuan Yew ~The author is former Prime Minister, Senior Minister and Minister Mentor of Singapore. ON OCT 1,1949, at the Gate of Heavenly Peace in Beijing, Mao Zedong, leader of the Communist Revolution, declared the founding of the modernFILE PHOTO - 730 words
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Page 28 / 29 Advertisements
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Advertisement14 2013-07-06 28 / 29 This story was sourced from the July 15, 2013 issue of Forbes Asia magazine.14 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1030 2013-07-06 30 / 31 Nathaniel Popper - But as bond markets tumble, it assures investors they are going to be fine with the fund manager at the helm. By Nathaniel Popper By Nathaniel Popper NYT AS investors prepare for a long-term shift in interest rates, few large financial firms are asNYT; PHOTO: REUTERS - 1,030 words
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301 2013-07-06 30 / 31 NYT INVESTORS pulled a record amount of money from Pimco’s flagship Total Return bond fund in June, a stark indication of how rising interest rates have pushed bonds out of favour. The Total Return fund, the largest mutual fund in the world,NYT - 301 words
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BROKERS' TAKE
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Article308 2013-07-06 30 / 31 Buy DMG Partners Research July 5 July 5 close $1.60 PHASE 1 of the asset enhancement initiative (AEI) at Suntec City Mall was part of the three-phase $410 million AEI project initiated last June. This recently completed phase, encompassing an area of around 193,000 sq ft, was relaunched308 words
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Article390 2013-07-06 30 / 31 Andrea Soh - Compiled by Andrea Soh Sell OCBC Investment Research July 5 July 5 close $0.75 THE macro environment is looking increasingly gloomy. China’s official Purchasing Managers Index and the HSBC flash numbers have been hovering for several quarters around the 50 mark separating expansion from contraction for the manufacturing390 words
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Article, Illustration1154 2013-07-06 32 Anthony Ho - They look cheap and may have a short-term bounce but their underperformance may have further to run WEALTH INSIGHTS Anthony Ho ~The writer is managing director, Asset Management Solutions Global Multi Asset Group, JP Morgan Asset Management EMERGING market equities (EME)PHOTO: BLOOMBERG; Source: JPMorgan Asset Management - 1,154 words
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Article, Illustration1326 2013-07-06 33 Teh Hooi Ling - Singapore scores significantly below average in adequacy in global pension index; Denmark tops the chart SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent ~The writer is a CFA charterholder THESingaporepensionscheme gets only a C grade, and the Republic is ranked 13th among theSource: Survey Research Centre, University of Michigan - 1,326 words
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WEALTH REAL ESTATE
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246 2013-07-06 34 Bloomberg Berlin BRITISH Land Co, the UK’s second-larg-est investment trust by market value, has bought offices, stores and land near Paddington Station, the London terminus of the Heathrow Express rail line, from Aviva plc and other investors for £470 million (S$901 million).Bloomberg - 246 words
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Article795 2013-07-06 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JUNE 5 AND JUNE 11, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Marina Bay Residences Apt 05/06/2013 99 2379 9040 3800 District 3 NON-LANDED Echelon Apt795 words
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Article, Illustration762 2013-07-06 35 Mindy Tan - Compared to May, 21% fewer condos change hands; HDB resale transactions plunge too By Mindy Tan tanmindy@sph.com.sg Singapore THE property resale market saw a significant drop in both private and public transactions as effects of the cooling measures finally kicked in. According toPHOTO: BLOOMBERG - 762 words
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616 2013-07-06 35 Bloomberg Hong Kong HONG KONG builders will put the brakes on home sales for the rest of the year after government curbs to rein in prices sapped demand, according to Bocom International Holdings Co and Centaline Property Agency Ltd. Builders including Sun HungBloomberg - 616 words
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Page 30 / 31 Advertisements
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Advertisement13 2013-07-06 30 / 31 Brokers who wish to send in their reports can email us at btnews@sph.com.sg13 words
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Page 36 Advertisements
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Advertisement174 2013-07-06 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX, THE JURA. FOR MILLENIA, A HARSH, UNYIELDING ENVIRONMENT A PLACE OF RAW NATURE AND UNFORGIVING CLIMATE. FIRST SETTLED IN THE SIXTH CENTURY BY MONKS WHO SAW IN THIS AUSTERE EXISTENCE A SERENITY AND SPIRITUALITY; MORE RECENTLY, SINCE174 words
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Page 1 Advertisements
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Advertisement59 2013-07-06 1 DINING Untying the apron strings L6-8 HOME GARDEN Club class L10-11 BT Living THE BUSINESS TIMES WEEKEND JULY 6 7 2013 STYLE Guilt-free fashion L12-13 THE ART OF LIVING Let art into your home L2-5 PHOTO: BRAND VON EGMOND NO HOLDS BARRED Dragons on fire at the Bay L16 MOTORING59 words
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DESIGN
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Article, Illustration3512 2013-07-06 2 / 3 Tay Suan Chiang - Art is finding its way into homes, in ways big and small. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg I T used to be that art was meant to be admired on the walls of museums or galleries, behind velvet ropes and deterrent “Do3,512 words
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DINING
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Article, Illustration2779 2013-07-06 6 / 7 Debbie Yong, Tan Teck Heng - Life should be enviously smooth sailing when you’re a handsomely paid executive chef or when you run a lucrative gourmet food business, but three top chefs and the former owners of Jones the Grocer Singapore tell Debbie Yong and Tan Teck Heng why they left thePHOTOS: JANE ALETHEA SEET - 2,779 words
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Article761 2013-07-06 8 with BTWeekend AquaMarine Level 4, Marina Mandarin Singapore 6 Raffles Boulevard Tel: 6845-1111 Celebrating Iftar 10 July to 7 August2013 Discover delightful flavours of Indonesian cuisine and local favourites at our Halal-certified food stations during Iftar, as AquaMarine invites guest chefs from Hotel Borobudur in Indonesia to serve up761 words
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Page 8 Advertisements
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Advertisement19 2013-07-06 8 Reach out to more than 100,000 readers daily in the Wine Dine Scheme. Contact Amy Leo at 6319 212919 words
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READER'S PROMOTION
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Article, Illustration861 2013-07-06 9 Edge at Pan Pacific Singapore is an open-concept buffet haven serving delectable Asian and Pacific cuisines IF there’s one thing Singaporeans can’t resist, it’s a buffet the wider the spread, the better. But variety is nothing without quality something Edge at the newly revamped Pan861 words
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Page 9 Advertisements
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Advertisement65 2013-07-06 9 READER’S PROMOTION 4 dine for the price of 3. Simply go to www.btinvest.com.sg, click on Specials –> BTEats –> Edge at Pan Pacific Singapore and print the PDF voucher. Present to the restaurant to enjoy the offer. Valid from 7 July 2013 to 6 August 2013. Promotion is applicable to65 words
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HOME & GARDEN
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Article, Illustration1204 2013-07-06 10 / 11 Tay Suan Chiang - Roy Teo plays out the gentlemen’s club theme to perfection at his stunning Marina Bay apartment. personal space By Tay Suan Chiang taysc@sph.com.sg WOW is an understatement when you step into this apartment in the Marina Bay area. First there’s the view a stunning near 180-degree panoramic viewPHOTOS COURTESY OF THE MILL - 1,204 words
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STYLE
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Article, Illustration2101 2013-07-06 12 / 13 May Yip - Retailers and designers may be unravelling the origins of garments for greater accountability, but are shoppers and big players willing to sacrifice savings for a clear conscience? By May Yip By May Yip btnews@sph.com.sg WHEN the impeccably chic Christina Dean made the leap from being a dentist toPHOTO OF CHRISTINA DEAN BY LUKE CASEY - 2,101 words
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GADGETS
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Article, Illustration616 2013-07-06 14 Christopher Lim - Touchscreens and trackpads are great, but there’s no getting around keyboards for harnessing gizmos. By Christopher Lim By Christopher Lim limchris@sph.com.sg Logitech G19s $299 LOGITECH has been making gaming keyboards for a while but is drawing attention to this with its new G-Series Gaming Gear line. The616 words
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Page 14 Advertisements
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Advertisement28 2013-07-06 14 HOME NEE S a i Rid your home of unwelcome guests. To find out more, turn to CLASS 116 in CATS Classified in The Straits Times now. WATS28 words
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HEALTH
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Article, Illustration771 2013-07-06 15 Cheah Ui-Hoon - Mushrooms help boost our immune system to target and fight harmful germs. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg MENTION “magic mushrooms” in Asia, and the word association might just trigger off “health” and “lingzhi”, rather than the shrooms with hallucinogenic effects known in the West. For thePHOTOS: CEREBOS - 771 words
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Article, Illustration175 2013-07-06 15 Cheah Ui-Hoon - Cheah Ui-Hoon HAVING a child and wanting to eat better? Local food can still be tasty and healthful, if you follow the recipes in this cookbook published by KK Women’s and Children’s Hospital (KKH). And you can even find out the nutritional values that you will175 words
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Page 15 Advertisements
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Advertisement216 2013-07-06 15 HEART,STROKE&CANCERCENTRE “A medical centre of Singapore Heart, Stroke and Cancer Centre” PreservingHealthandLongevity Expertise in the Prevention, early Detection and Management of Heart disease, Stroke and Cancer www.shsccentre.com Prevent Sudden Death If you suspect heart disease or have risk factors such as high cholesterol, high blood pressure, diabetes mellitus, smoking or216 words
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Advertisement60 2013-07-06 15 ~The cookbook is priced at $20 (inclusive of GST) and is now available at KKH’s Patient Education Centre, Admissions Office and Retail Pharmacy. The book will also be sold at major bookstores at $25 (inclusive of GST) by the end of July 2013. Proceeds from the book sales will go60 words
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SPORTS
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Article, Illustration804 2013-07-06 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent TALK about making a big splash. That’s exactly what DBS Bank did with the second instalment of its annual dragonboating extravaganza. he DBS Marina Regatta billed as Singapore’s biggest water festival was held over two weekends this804 words
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GOLF
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Article, Illustration1201 2013-07-06 17 Justine Moss - Pulses race as the 142nd Open Championship returns on July 18. l By Justine Moss btnews@sph.com.sg WHEN the 142nd Open Championship returns to Muirfield, Scotland, on July 18 for the first time in 11 years, one player should be feeling a little more confident thanPHOTO: KHALID REDZA - 1,201 words
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MOTORING
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Article, Illustration764 2013-07-06 18 Samuel Ee - The Audi R8 V10 plus has a more powerful 5.2-litre engine and a new dual-clutch transmission. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE Audi R8 never seems to grow old it just keeps reinventing itself. The latest version of this mid-engined high-performance car from the brand764 words
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Article, Illustration683 2013-07-06 19 Samuel Ee - The $1.5 million McLaren P1 is a plug-in petrol-electric hybrid super sports car. By Samuel Ee samuelee@sph.com.sg THE limited edition McLaren P1 is here but will only be available as a left-hand-drive model. That is not stopping a couple of Singaporeans from eyeing this petrol-electric supercar though.683 words
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Article, Illustration797 2013-07-06 20 Samuel Ee - The mystery of the exploding tyres is solved and F1 will continue with new rubber from here on. By Samuel Ee f1 watch By Samuel Ee samuelee@sph.com.sg THE Formula One (F1) tyre saga came to an explosive climax literally last weekend at the British Grand Prix. Since PirelliPHOTO: AP; PHOTO: REUTERS - 797 words
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