The Business Times, 2 May 2014
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2014-05-02
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The Business Times
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Title Section25 2014-05-02 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Friday, May 2, 201425 words
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Article, Illustration721 2014-05-02 1 LEE U-WEN - Help is being offered to older workers who want to work beyond 65 years, he says By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] The government is throwing its full support behind the tripartite effort to extend the re-em-ployment age in Singapore beyond 65. SpeakingPHOTO: DESMOND FOO/THE STRAITS TIMES - 721 words
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Article, Illustration681 2014-05-02 1 LEE MEIXIAN - By LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT [SINGAPORE] Surbana International Consultants is on an acquisition path to bulk up and fight off intensifying competition from rivals in the region and globally. The urban solutions consultancy firm is preparing to splash $120 million on buying twoPHOTO: ARTHUR LEE - 681 words
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Page 1 Advertisements
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Advertisement101 2014-05-02 1 COMPANIES Collateral-free OCBC loan for startups PAGE 6 OPINION Asian bonds: Retail share must rise PAGE 25 ARTS S’pore photographers make a point PAGE 33 WINE Time transforms an ugly duckling PAGE 36 Guggenheim looks east EXECUTIVE LIFESTYLE PAGE 31 FOR SALE: Twenty-four choice landed homes in Districts 9 10101 words
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Advertisement27 2014-05-02 1 Read Boardroom Matters, a series of articles from the Singapore Institute of Directors on issues relevant to listed companies and corporate governance, on BTInvest every Friday: btd.sg/BMatters27 words
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TOP STORIES
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Article475 2014-05-02 2 Govt pushing to extend re-employment age: PM THE government is throwing its full support behind the tripartite effort to extend the re-employment age in Singapore beyond 65. Speaking at the annual May Day Rally, Prime Minister Lee Hsien Loong encouraged more older workers to continue working. FRONT PAGE475 words
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Article, Illustration565 2014-05-02 2 Reuters [BEIJING] Activity in China’s factories increased marginally in April but export orders fell sharply, a government survey showed yesterday, adding to questions about whether the world’s second largest economy is stabilising after its first-quarter slowdown. The data came a day after PremierReuters; PHOTO: REUTERS - 565 words
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Article, Illustration610 2014-05-02 2 LEE U-WEN - CET campuses show govt’s commitment to help workers remain employable LABOUR CHALLENGES Reports by LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] The ongoing push to promote continuous education and training (CET) among workers is critical, especially in an era when knowledge becomes obsolete muchPHOTO: DESMOND FOO/THE STRAITS TIMES - 610 words
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362 2014-05-02 2 [SINGAPORE] The Republic may experience the occasional hiccup such as public transport breakdowns and a bed crunch at hospitals, but the country does get things right most of the time. Labour chief Lim Swee Say said yesterday that no one could say they362 words
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Article, Illustration310 2014-05-02 2 KELLY TAY - By KELLY TAY kellytay@sph.com.sg @KellyTayBT [SINGAPORE] In its latest Macroeconomic Review, the Monetary Authority of Singapore (MAS) has said that the labour market remained tight in the second half of last year. This web chart (right) illustrates the continued crunch by comparing theBT Graphics: Kelly Tay and Jennifer Chua, Source: Monetary Authority of Singapore, EPG - 310 words
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Article, Illustration1235 2014-05-02 4 NEIL BEHRMANN - They are hoping that undecided voters will choose to remain in Union in September referendum By NEIL BEHRMANN in London STERLING and the UK stock market have ignored the real possibility that the Scottish people may vote for independence in five months time. ThePHOTO: REUTERS - 1,235 words
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Article, Illustration505 2014-05-02 4 AFP [KUALA LUMPUR] Malaysia yesterday made public a report on Malaysia Airlines flight MH370 and other data in its most extensive release of information on the airliner yet, but which contained no new clues on what happened to the missing plane. TheAFP; PHOTO: REUTERS - 505 words
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Page 3 Advertisements
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Advertisement121 2014-05-02 3 Swiss quality. The travel version. Fly directly from Singapore to Switzerland and experience how Swiss quality and hospitality can turn any journey into something special. Find out more on swiss.com r m 'h wwi-. r*-' s*- vvI -j b8 jwP ,v Si SiSS* ipjsfe^EI •> ,JT api'- SSI 1 r^i121 words
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Page 4 Advertisements
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Advertisement134 2014-05-02 4 Attention Local Business Owners! Breach ourro^ 1.3MILLI0N POTENTIAL ■CUSTOMERS FOR FREE! •Average monthly visitors on STDirectory STDirectory.sg is offering a two-month free trial for an enhanced online directory business listing package to local businesses. This package includes: COMPANY LOGO Display your business logo to represent your company’s brand identity COMPANY134 words
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Page 5 Advertisements
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Advertisement418 2014-05-02 5 DAWN SHIPPING GROUP "C OCL 0? DO s j' n> y m y r. rjJ i n I r Jo- 'Op nW •T to DP f MCO^ 5Hi pp D0- <£&«>?>. L*SS -r D} o Ml* 7 MITSUBISHI yn 4538U NLEA3; Gil TM1B2GM XD 2541L WL CdmrcCUihg USA > 4*418 words
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COMPANY NEWS
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906 2014-05-02 6 JACQUELYN CHEOK - Observers say bank still needs personal guarantee, which no one will like to offer By JACQUELYN CHEOK jaccheok@sph.com.sg @JacCheokBT OCBC Bank has unveiled a first-of-its-kind collateralfree loan that provides startups as young as six months old with expedited access of up to $100,000, even as906 words
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523 2014-05-02 6 SIOW LI SEN - Returns have been strong so far this year, and flows are returning to region BY SIOW LI SEN |isen@sph.com.sg @SiowLiSenBT INVESTING in Asian debt is a good way to pick up income, said Stephen Chang, head of Asian fixed523 words
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709 2014-05-02 6 R SIVANITHY - HOCK LOCK SIEW By R SIVANITHY sivan@sph.com.sg @RSivanithyBT IN a supposedly well-regulated, disclosure-driven stock market such as Singapore’s, it is acutely disappointing to see the responses given by some listed companies to requests from the Singapore Exchange (SGX) for more information on executive709 words
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Article277 2014-05-02 6 Quotation of taxable book-entry Singapore Government Bonds (April 30,2014) GROSS REDEMPTION YIELD COUPON NUMBER OF DAYS OF ACCRUED INTEREST INTEREST PAYMENT DATES AMOUNT ($m) COUPON RATE CLOSING CLOSING PRICES* (EXCLUDING ACCRUED INTEREST) YEAR RAISED ISIN CODE MATURITY DATE 01.07.2014 NX*****F 2004 3 5/8 5800.00 1/1 1/7 119 100.56 0.35 SG**********277 words
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Page 6 Advertisements
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Advertisement103 2014-05-02 6 IFBO VIETNAM 2014 International Franchise Business Opportunities 4-6 September 2014 10.00am 5.00pm Tan Binh Exhibition Convention Centre Ho Chi Minh City, Vietnam International franchise brands and business concepts under one roof Get free lessons on franchising from the experts! Pick up useful tips on doing business in Vietnam *Enjoy preferential103 words
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Advertisement13 2014-05-02 6 klSS 92^ All the great songs in one place_ S 5* Ki Va13 words
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Page 7 Advertisements
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Advertisement762 2014-05-02 7 0 i 0 I i t ft J E3!SE T if w *9 T*?rn^!r -m% ■BFH'FmF iff? 1^ ■mfsr KHIFff Iff! SflHS fttfcfif H IT ft iiAjtffi- bfp hit bt rtirrtt' -«Ec TTr? IfTf ETF HBrn tffirTf usra*H+IfRu fTR? fnffrflrfni s+fec BFRiiFrnt pf rnf ai Blriliii; Bffi Brrfitrtttf T+fi firWrffFFIrffj762 words
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SINGAPORE NEWS
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Article, Illustration512 2014-05-02 8 KARA QUEK - Its flagship school which offers the IB programme will open here in Sept By KARA QUEK By karaquek@sph.com.sg GEMS Education, the world’s largest operator of private schools, aims to expand its brand of schools in the region over the next few years. Its512 words
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455 2014-05-02 8 RONNIE LIM - CEO says there is good demand in Europe and Japan By RONNIE LIM ronnie@sph.com.sg TO cater to strong demand in its key markets in Europe and Japan, Norwegian solar panel maker REC Solar ASA has approved a US$70 million expansion at its sole455 words
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Page 8 Advertisements
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Advertisement374 2014-05-02 8 FORUM REAL ESTATE OPPORTUNITIES THE R S SE UP TO NGAPORE HE CHALLENGES PROPERTY MARKE i i ill fe! I Real Estate Professionals, earn 2 Non-Core CRD Credit Hours* when you attend this forum ii !0 PI P1 fliTi ...an nr sy mS. AN INSIGHT FOR REAL ESTATE PROFESSIONALS AND374 words
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Advertisement25 2014-05-02 8 One man’s junk is another man’s treasure Shop second-hand or sell your possessions in CLASS 162 To advertise, call the Print Classified Hotline: 1800-289 998825 words
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GLOBAL MEGATRENDS CONFERENCE 2014
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Article, Illustration820 2014-05-02 9 FRANCIS KAN - As the world undergoes a prolonged period of de-leveraging, the search for yield can be a frustrating one over the next few years despite pockets of optimism, reports FRANCIS KAN reports FRANCIS KAN INVESTORS should prepare themselves for a period of meagre returns820 words
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Article, Illustration551 2014-05-02 9 FRANCIS KAN - Profit from stocks with exposure to significant trends By FRANCIS KAN AS Indonesia transforms into an information economy, there will be huge opportunities to provide connectivity to consumers in the world’s fourth most populous country, according to Indonesian tycoon Mochtar Riady. Mr Riady is551 words
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424 2014-05-02 9 FRANCIS KAN - By FRANCIS KAN EMERGING markets have fallen out of favour with investors in recent years, as fears of US quantitative easing and a sharp slowdown in China depressed stocks, bonds and currencies in this once prized asset class. Developing markets led by Asia424 words
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Page 9 Advertisements
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Advertisement88 2014-05-02 9 Credit Suisse Our clients have individual goals and ambitions. Credit Suisse has been helping to achieve them. Since 1856. Credit Suisse. Winner of the Asian Private Banker Awards for Distinction 2013: Best Private Bank in Asia Best Private Bank in Philippines Indonesia Best Private Bank for Family Office Services Best88 words
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MALAYSIA/INDONESIA
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576 2014-05-02 10 PAULINE NG - S’pore has performed better year-to-date, but M’sia has more going for it in coming months By PAULINE NG in Kuala Lumpur LOOKING to buy Singapore or Malaysian equities? On a one-year time frame, opt for Malaysian equities. The recommendation by Citi Research follows576 words
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387 2014-05-02 10 [KUALA LUMPUR] Malaysia Building Society (MBSB), which has trimmed its non-perform-ing loan (NPL) ratio to about 5.5 per cent from 40 per cent seven years ago, is looking at slimming it further to the industry level of 2 per cent387 words
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Article, Illustration438 2014-05-02 10 Reuters [JAKARTA] Indonesia’s industry ministry is considering changes to the country’s palm oil export tax system, a government official said on Wednesday, as the top producer and exporter of the edible oil looks to further promote downstream industries. South-east Asia’s biggestReuters; PHOTO: BLOOMBERG - 438 words
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269 2014-05-02 10 [JAKARTA] Thousands of workers gathered at a main traffic circle in the Indonesian capital yesterday morning to mark International Workers’ Day and rally for higher wages and better conditions. Police estimated that around 50,000 workers representing various organisations from Jakarta and the surrounding269 words
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Page 10 Advertisements
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Advertisement1864 2014-05-02 10 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE CWU O.S. No. No. 73 of 2014 In the Matter of the Companies Act, Chapter 50 And In the Matter of ENED ASIA PTE LTD (UEN No. *****6664K) Between LUTHER CORPORATE SERVICES PTE LTD (UEN1,864 words
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Advertisement25 2014-05-02 10 Get your 5th ‘C’ here Choose from various club memberships or sell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 998825 words
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Page 11 Advertisements
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Advertisement623 2014-05-02 11 ASIAL JENRICH Publisher Media Consultancy WOULD LIKE TO CONGRATULATE ALL THE RECIPIENTS OF THE 2^13/2014 SINGAPORE ENTREPRENEURS’ AWARD Asia 1 Enrich A 2013/2014 -$t hoM P -ft Honoring The Below Companies For Their Outstanding Performance 96 Lilia Pte Ltd Advance-Tec Engineering Pte Ltd Aik Koon Tyre Battery Co. Pte Ltd623 words
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CHINA/INDIA
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Article, Illustration417 2014-05-02 12 AFP [BEIJING] Chinese President Xi Jinping ordered a crackdown after a stabbing spree and an explosion at a railway station in the restive Muslim-majority region of Xinjiang left three people dead and 79 wounded, state media reported yesterday. The violence came as MrAFP; PHOTO: REUTERS - 417 words
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589 2014-05-02 12 US will start special review in Sept, addressing concerns with next govt Reuters [NEW DELHI] India has proposed holding wider bilateral talks with the United States in June or July to address concerns over intellectual property (IP) rights and access toReuters - 589 words
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310 2014-05-02 12 But no decision seen before Alibaba’s expected US IPO Reuters [BANGALORE] Alibaba Holdings Inc is in talks with major shareholders to reclaim a stake in fast-grow-ing online-payments affiliate Alipay, The Wall Street Journal reported on Wednesday, citing people familiar withReuters - 310 words
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233 2014-05-02 12 Reuters [BEIJING] China’s commerce ministry has approved with conditions German liquid crystal maker Merck KGaA’s planned US$2.6 billion takeover of UK-listed AZ Electronic Materials. Merck, the world’s largest maker of liquid crystals used in TVs and tablet and smartphone screens, agreed in DecemberReuters - 233 words
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Page 12 Advertisements
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Advertisement285 2014-05-02 12 INTOThe YEAR! th Invest Fair continues to maintain its reputation as the LARGEST local investment exhibition with over 40 local and international exhibitors, over 50 free seminars, over 5 educational workshops and an average of 20,000 visitors over the weekend. 2nd-3rdAUG 2014 SINGAPORE suntec CONVENTION EXHIBITION CENTRE Malaysia MID Valley285 words
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Advertisement73 2014-05-02 12 Myanmar© Urban Development Conference 2014 26 -28 May 2014 Traders Hotel, Yangon Exclusively for International Developers! 50% discount off* published rate Register now! *Terms and Conditions apply Contact Jiahui at +65 6548 5378 or email at jiahui@sphereconferences.com Smart and Connected The only urban planning and infrastructure development conference dedicated to73 words
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Page 13 Advertisements
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WORLD
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598 2014-05-02 14 Pressing criminal charges may cause uncontainable collateral damage Bloomberg [NEW YORK] As US Justice Department prosecutors angle to bring the first criminal charges against global banks since the financial crisis, they’ll have to stare down warnings of uncontainable collateral damage. The 2002 collapseBloomberg - 598 words
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Article, Illustration416 2014-05-02 14 Bloomberg [DEARBORN, Michigan] Ford Motor Co promoted Mark Fields to chief executive officer from chief operating officer effective July 1 as CEO Alan Mulally retires from the second-largest US carmaker, the company said yesterday in a statement. “From the first day we discussedBloomberg; PHOTOS: AFP - 416 words
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428 2014-05-02 14 LATEST US DATA Bloomberg [WASHINGTON] Consumer spending surged in March by the most in almost five years as warmer weather brought shoppers back to auto-dealer lots and malls, a sign the US economy gained momentum heading into the secondBloomberg - 428 words
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359 2014-05-02 14 Daily deals site now selling razors, vitamins and other consumer goods in bulk Bloomberg [PORTLAND, Oregon] Groupon Inc, the daily deals site that’s already expanding in fashion and South Korea, is now selling razors, vitamins and other consumer goods in bulk in anBloomberg - 359 words
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Article, Illustration468 2014-05-02 14 Reuters [TOKYO] Sony Corp slashed its earnings guidance for the third time in a year yesterday to barely 10 per cent of its initial outlook as further losses from its PC exit cast a pall over its struggling electronics division. TheReuters - 468 words
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900 2014-05-02 15 But it offers no new insight into when it will start raising the near-zero rates NYT [WASHINGTON] The US Federal Reserve continued to retreat from its stimulus campaign, saying it was looking past the economic slowdown during an unusually cold winter becauseNYT - 900 words
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Article, Illustration668 2014-05-02 15 Reu ters [LONDON] The blossoming love affair with indexbased investing and ex-change-traded funds is sweeping aside more traditional investment management with its hefty fee premium, even if it is stoking market volatility. The seemingly contradictory combination of cheaper fees and superior performance isReuters; PHOTO: AFP - 668 words
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Article, Illustration540 2014-05-02 15 They will need more funds to stay afloat if home prices plummeted: agency Bloomb erg [WASHINGTON] Fannie Mae and Freddie Mac could require an additional bailout of as much as US$190 billion in a severe economic downturn, according toBloomberg; PHOTO: REUTERS - 540 words
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631 2014-05-02 15 Bloomberg [CANBERRA] Australia should privatise its rail and postal assets and cut family welfare payments as Prime Minister Tony Abbott seeks to meet election pledges to rein in record public debt, a report ordered by his government advised. Australian Rail Track CorpBloomberg - 631 words
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Page 14 Advertisements
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Advertisement20 2014-05-02 14 0 WWW o my sg lire •I P A 1 Q >4 Download omy Apps omy News iOSAppStore Google Play20 words
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Advertisement34 2014-05-02 14 CHETTIARS: SINGAPORE’S FIRST ‘VENTURE CAPITALISTS’ TABLA! SPEAKS TO FIVE INDIANS HERE WHO OPEN UP THEIR HOMES TO STRANGERS GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)34 words
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Page 15 Advertisements
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Advertisement179 2014-05-02 15 NOTICES IN THE MATTER OF TETRA PAK EQUIPMENT LOGISTICS ASIA PTE LTD (IN MEMBERS VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****1442E NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final General Meeting of the member of the abovementioned Company will be held at179 words
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S SPECIAL LUXURY LIVING
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Article, Illustration1031 2014-05-02 16 / 17 JOSEPH LIM - Let your creativity take flight when you incorporate great design elements in your expansive home By JOSEPH LIM INTERIOR design and getting furniture for a small home is all about space-saving these days. But if you have the luxury of space, the sky is the limit when youPHOTOS: HAUS, MARQUIS QSQUARE, MILLION LIGHTING, MINOTTI, SAMSUNG - 1,031 words
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Article, Illustration1174 2014-05-02 18 / 19 SHERYL QUEK - Bliss is relaxing on your favourite plush armchair or sofa after a hard day’s work By SHERYL QUEK Stressless Magic Recliners by Ekornes One size does not fit all, and Ekornes knows it well. Its Stressless Magic Recliners (above) are available in three sizes: small,PHOTOS: EKORNES, DANOVEL, MERONI FURNITURE, MINOTTI BY MARQUIS INTERIORS, THE BEAR KNOWS, THE FURNITURE CLUB, XZQT HOME - 1,174 words
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Article, Illustration972 2014-05-02 20 / 21 WONG SHER MAINE - Despite its high price tag, durable and beautiful wood furniture is attracting younger buyers By WONG SHER MAINE SIMPLE and natural that’s the way younger home owners like their wood furniture these days, designed along clean lines, free of paint or veneer and showing off natural woodPHOTOS: DANOVEL, MING & QING, TEAK AVENUE - 972 words
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Article, Illustration817 2014-05-02 22 JOSEPH LIM - The comfort and durability of leather furniture trumps other materials By JOSEPH LIM THE impracticality of leather furniture in Singapore’s humid weather is often a concern, but its positive attributes outweigh the cons. “Leather is synonymous with luxury no one can deny the elegance of a beautiful piecePHOTOS: EKORNES, THE BEAR KNOWS - 817 words
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Page 16 / 17 Advertisements
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Advertisement33 2014-05-02 16 / 17 Elegant yet functional: Giorgetti’s Mould sofa and coffee table by Andrei Munteanu (centre) and the Oro dresser (top, right) featuring leather insert details; B&B Italia’s popular Husk chair (top, left) by Patricia Urquiola33 words
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Advertisement159 2014-05-02 16 / 17 0MISURA NUMERO UNO CREATIVE GROUP i: Award winning One Shenton Sky Suite offers an unparalleled luxurious living experience with a good view of the Marina Bay Sands 2: The Esta- SuMisura’s maiden awardwinning project, Highly Commended Interior Design for Private Residence in Singapore 3: Stellar RV Highly commended for Top159 words
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Page 18 / 19 Advertisements
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Advertisement297 2014-05-02 18 / 19 Introducing the new TEMPUR® Breeze 1 Comfort and freshness for a great night's sleep lOTEMPUR MATTRESSES AND PILLOWS A fresh new way of sleeping Getting a good night's sleep in Singapore's tropical climate might be a challenge, especially when high humidity levels cause heat and discomfort. TEMPUR high performance sleep297 words
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Advertisement219 2014-05-02 18 / 19 @M£RONI YOUR DREAM HOME COMES TRUE fef>C$ fe>C$ fc>C$ fc> fef> When Design becomes Fine Art r r si! It m PICCASO ARMCHAIRS Unwind and luxuriate on the simply stunning King Armchair. Like its name, this throne-like piece is fit for royalty with its spacious seat. Coming in a lustrous219 words
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Advertisement207 2014-05-02 18 / 19 Made in Norway imagine comfort Imagine a personal oasis of tranquillity where time is your own. A place to lean back, close your eyes and enjoy a well-deserved time-out. But you don’t need to imagine. You can make it real in a Stressless® of your own. Streff/esr) THE INNOVATORS OF207 words
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Page 20 / 21 Advertisements
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Advertisement283 2014-05-02 20 / 21 where life revolves around the kitchen kitchen culture match, we always provide a perfect solution for your kitchen. exclusive brands poggen pohl Kuppersbusch as The Swiss leoder "rational HSCKer [sUB»2eRo| UJOLF lACORHUE LIEBHERR FJ irinox Foster B= KWC linterliibkel fimes 1 C olliction U*»»Qu«*» BBS a I exclusive showroom 2283 words
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Advertisement148 2014-05-02 20 / 21 THE BEAR KNOWS™ Contemporary European Home Furnishing Carpets from: Turkey, Denmark, Belgium, Germany a V; 7. v V-" ch~ ’’Hwfi K"'' v /;A\ -A .dfTO '3®S5>’ 'J '•V J; mn'Aeiafi^ V.'-v Leather Rugs (genuine cow hide) FREE!!! *V yt i.M > Glass Vase Made in Italy with every purchase of148 words
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Advertisement137 2014-05-02 20 / 21 DANOVEL TM The Handcrafted Fabric Sof OVER 50YEARS OF HANDCRAFTING SOFA EXPERIENCE Danovel Sofas meet British Standards for Durability, BS EN *****-2 BS EN1022. I :i i u --< 3 I CUSTOMISED SOFAS BEDS WALLCOVERINGS FABRIC CURTAINS BLINDS INTERIOR STYLING UPHOLSTERY SOFT FURNISHINGS FOR HOME/OFFICE/MARINE DANOVEL PTE LTD Vietnam HuangHuaLi137 words
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Page 22 Advertisements
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Advertisement167 2014-05-02 22 XZQX It's Simply Executive! SALE Italian Bed Storewide Discounts VK Contrast Bed BONALDO BONALDOl Practical Space Saving Sofa By Day, Bed By Night Pierrot King Sofa cum Bed LeVele Video Save On Our Sale Prices I Rota 360" tes desiree^ i Lacoon Island Sofa BONALDO tjjjf Babel Bookcase Good Design167 words
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Advertisement36 2014-05-02 22 m o O M i L. !f H ANGLEPOISE AN ICONIC BRITISH BRAND I 1 I 4 MILLIQN Million Lighting Showroom 9 Penang Road, 02-24/26 Parkmall, Singapore *****9 T: (65) 6337 6167 E: showrooms@millionlighting.com 05f*PJi www.millionlighting.com36 words
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AVIATION/SHIPPING
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458 2014-05-02 23 It is cutting sector exposure; BOA, US hedge fund seen as possible buyers Reuters [LONDON] Lloyds Banking Group has reached an agreement to sell US$500 million of shipping loans from its remaining ship finance portfolio as the British bank cuts sector exposure, financeReuters - 458 words
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Article, Illustration638 2014-05-02 23 Bloomberg [CHICAGO] Boeing Co sees a way to set its new 777X jetliner apart for airlines normally fixated on costs: by making travel easier on a passenger’s nose and throat. Creature comforts such as higher humidity and cabin air pressure to ease jetBloomberg; PHOTO: BLOOMBERG - 638 words
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321 2014-05-02 23 Bloomberg [SINGAPORE] Billionaire Elon Musk’s Space Exploration Technologies Corp won a court order temporarily blocking the US Air Force from buying Russian-made rocket engines from a Boeing Co-Lockheed Martin Corp venture. Judge Susan Braden’s preliminary injunction doesn’t cover earlier purchases or payments.Bloomberg - 321 words
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384 2014-05-02 23 Reuters [COPENHAGEN] Container shipping lines have agreed to raise Asia-US freight rates by US$300 per 40-foot container (FEU) to west coast ports of the US and by US$400 to all other ports in the US from May 15. The increase was agreed byReuters - 384 words
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Article259 2014-05-02 23 SGX '000 Apr 30 S$ +/-Vol Ch Offshore 0.42 0.01 200 Chuan Hup Hldg 0.27 unch 238 Cosco Corp 0.72 0.01 921 Cwt Limited 1.46 -0.04 577 Ezra Hldgs 1.05 -0.01 2152 First Ship Lea 0.10 unch 902 Grand Banks Chuan Hup Hldg Jaya Hold Ltd 0.80 0.01259 words
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308 2014-05-02 23 AFP [ROME] The mammoth project to refloat the doomed Costa Concordia cruise ship has been suspended until a decision is made over which port will scrap the wreck, Italian media said on Wednesday. The ship’s owner Costa has decided temporarily to halt the unprecedentedAFP - 308 words
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446 2014-05-02 23 Philadelphia International Airport is most affected Bloomberg [BOSTON] Heavy rain and air traffic delays spread across the US East Coast from a storm that lashed the South and Midwest with tornadoes and flooding. New York City, under a flood watchBloomberg - 446 words
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Page 23 Advertisements
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Advertisement15 2014-05-02 23 ASEAN-focused private equityfund more than tripled intwoyears To subscribe, call 6388-3838 or go to sphsubscription.com.sg15 words
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EDITORIAL & OPINION
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511 2014-05-02 24 EDITORIAL IN his May Day Rally speech yesterday, Prime Minister Lee Hsien Loong urged Singaporeans to continue working beyond the age of 65 and also supported ongoing tripartite talks on extending the re-employment age. Particularly in a labour-tight economy, there is certainly merit511 words
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Article, Illustration790 2014-05-02 24 FRANK CHING - THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 CHINA released a report in mid-April which disclosed that 16.1 per cent of the country’s soil and nearly one-fifth of its arable land were790 words
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Article, Illustration1441 2014-05-02 24 LEON HADAR - He stresses that the US has achieved its goals in Syria without using military power LEON HADAR Washington Correspondent SINCE US President Barack Obama decided to cancel a threatened missile strike against Syria and to accept instead a deal with Russia to removePHOTO: AFP - 1,441 words
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Article, Illustration903 2014-05-02 25 MATTHEW COLEBROOK - Tapping the region’s vast pools of savings via a more active retail bond market would benefit bond issuers and savers By MATTHEW COLEBROOK The writer is head, retail banking and wealth management, at HSBC Singapore Developing efficient bond markets across Asia is crucial toPHOTO: REUTERS - 903 words
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Article, Illustration996 2014-05-02 25 SHU-CHING JEAN CHEN - By SHU-CHING JEAN CHEN THE point of contention in the controversial China-Taiwan service trade agreement that prompted mass protests in Taiwan and the closure of its parliament has come down to small mom-and-pop shops that employ most of the island’s workforce, whoPHOTO: AFP - 996 words
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576 2014-05-02 25 RADOSAW SIKORSKI - By RADOSAW SIKORSKI The writer is Poland’s Minister for Foreign Affairs. The 10th anniversary of Poland’s EU accession fell on May 1 WHEN Poland’s prime minister and top diplomat signed the European Union accession treaty, little could576 words
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PROPERTY
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Article, Illustration878 2014-05-02 26 US$350m Beekman Hotel will have 287 rooms and a condo tower next door NYT [NEW YORK] For years, development plans came and went at 5 Beekman St like City Hall workers filing in and out of their nearby offices inNYT; PHOTO: REUTERS - 878 words
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445 2014-05-02 26 MALMINDERJIT SINGH - By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT [SINGAPORE] Commonwealth Towers, Hong Leong Holdings’ high-rise condominium project, took off on its first day of sales yesterday. As at 8pm yesterday, out of the 300 units initially launched, 175 units had been snapped up, with more445 words
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Page 26 Advertisements
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Advertisement533 2014-05-02 26 Call Toll-free 1800-289-9988 To Place Your Classified Advertisements D04 HOUSE FOR SALE SENTOSA Bungalow Sentosa 3½-Storey 8159 sqft,6+1 ensuite, 2 living, Pool, Lift, Berth. Also for rent. Owner 9144 0027/ 9771 6341 D10 HOUSE FOR SALE DALVEY ROAD Tropical GCB *****/ ***** sqft. 6 bdrms, large pool, entertainment area, garage,533 words
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Advertisement121 2014-05-02 26 D14 APARTMENT FOR SALE THE MIDAS New Listing! The Midas. 2 units Penthouse, 3rm 4rm, double storey, 1593/ 2109 sqft. $1.39m $1.84m. Call Gary Ong 9191 9500 D16 APARTMENT FOR SALE BAYSHORE Serious Seller! $1050 psf. Penthouse 3800 sqft. Vacant. Facing Sea. Beautiful Renovation. Belinda 9820 5400 D19 APARTMENT FOR121 words
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Page 27 Advertisements
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Advertisement1121 2014-05-02 27 HOUSES FOR SALE D09 DIO DIO Holland Park 2 Sty GCB, 2 Houses Approx. *****/***** sqft, D11 Olive Road 2 Sty GCB Approx. *****/***** sqft D23 Jalan Remaja 3 Sty Semi-D, Best Value! Approx. 3310/ 4200 sqft 4+1+1 rm, Quiet D21 Pisang Emas 3.5 Sty Semi-D, 2 units Approx. 2160/1,121 words
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Advertisement110 2014-05-02 27 D01 OFFICE FOR RENT AFRO ASIA BUILDING 63 Robinson Rd 200-***** sf. Offer rate fr $4.80 psf. 1 min walk to Han’s/ Kopitiam/ other eateries. 10 mins walk to Raffles Place MRT. 9424 1207 D02 SHOP FOR RENT 49 51 CANTONMENT ROAD 1 pair Conservation Shophse. 3½ storey, floor area110 words
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Article2240 2014-05-02 28 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE2,240 words
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Page 28 Advertisements
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Advertisement39 2014-05-02 28 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping times FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? The Business Times Shpping Dues39 words
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Page 29 Advertisements
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Advertisement209 2014-05-02 29 mporters coking for Warehouse Can they find your services here in the Shipping Times? ii TO ADVERTISE, CALL JOE WONG AT *****327 FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 1327 Can they find your services here in the Shipping Times? The Business Times I209 words
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Advertisement18 2014-05-02 29 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times18 words
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FINANCE & COMMODITIES
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Article571 2014-05-02 30 May 1 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.09 *****.03 *****.09 Jun14 *****.00 *****.00 *****.00 *****.00 ***** *****8 Sep14 *****.00 3 8659 MSCI TAIWAN INDEX FUTURES SPOT 317.23 317.38 313.54 May14 314.10 314.80 313.70 ***** *****2 Jun14 313.60 313.80 313.60 107 86571 words
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373 2014-05-02 30 In local curr In S$ In US$ dy yr dy yr dy yr Apr 30 Index Change Change Change Change Change Change World Preliminary 1195.1 0.0 0.9 0.1 0.9 0.1 1.4 EAFE Preliminary 951.5 0.0 -0.5 0.3 0.5 0.3 1.1 Europe Preliminary 1389.2 0.0 2.5373 words
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Article471 2014-05-02 30 Apr 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.017 5.812 0.673 7.199 56.067 107.381 0.952 9.592 3.032 1.085 91.388 41.393 1.166 9.792 0.821 28.087 30.032 0.552 0.929 Canada 0.983 5.715471 words
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Article30 2014-05-02 30 Apr 30 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (S$) 1 mth Source: Thomson Reuters30 words
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Article80 2014-05-02 30 Apr 30 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.35 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.3 101.35 101.34 5-Year NX*****W 2.5 01-Jun-19 105.11 105.17 105.10 10-Year NX*****H 2.750 01-Jul-2380 words
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Article137 2014-05-02 30 Apr 30 GOLD(US$/oz) Apr 30 Apr 29 Hong Kong 1292.00 1296.00 Apr 30 Apr 29 London 1293.36 1298.95 1294.05 1299.75 Source: Thomson Reuters CAST BAR Apr 30 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 79 50 5gm 313 258 10gm 582 518137 words
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Article57 2014-05-02 30 Apr 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 14 2719.0 2691.0 2722.0 2658.0 987 3559 Jun 14 2650.0 2640.0 2660.0 2631.0 4040 ***** Jul 14 2631.0 2623.0 2647.0 2615.0 ***** ***** Aug 14 2628.0 2616.057 words
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Article155 2014-05-02 30 Apr 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1656 1.1666 0.9284 0.9286 Canadian dollar 1.1461 1.1474 0.9133 0.9128 Euro 1.7332 1.7346 1.3805 1.3807 NZ dollar 1.0746 1.0756 0.8559 0.8562 Sterling pound 2.1105 2.1121 1.6810 1.6812155 words
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Article109 2014-05-02 30 Apr 30 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 14 1530.75 1524.00 1532.00 1516.00 Jul 14 1512.75 1517.25 1517.75 1502.25 Aug 14 1440.75 1443.00 1446.25 1433.25 Sep 14 1310.25 1313.00 1314.75 1302.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 14109 words
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Article94 2014-05-02 30 Apr 30 COCOA (£/tonne) Close Prev High Low May 14 1835 1831 1849 1824 Jul 14 1848 1841 1867 1835 Sep 14 1850 1844 1869 1839 Dec 14 1847 1840 1862 1833 COFFEE(US$/tonne) Close Prev High Low May 14 2167 2130 2171 2144 Jul14 2168 2139 2189 2151 Sep94 words
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1178 2014-05-02 30 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 Conv Asia-Pacific Strategic W*****6 Exer Acma Ltd W*****7 Prem Disc Asiatic Grp(Hldgs) Ltd W*****5 2.2 0.1 282 0.0 2 17 Asiatravel.com HoldingsW*****7 2.6 1 25 3 Asiatravel.com HoldingsW*****51,178 words
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Article70 2014-05-02 30 CRUDE OIL PRODUCTS Apr 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 107.78 -1.55 WTI (Near Mth) 99.78 -1.30 Dubai (1-Mth F) 104.59 -0.32 Tapis blend 112.49 -0.20 Minas 110.69 -0.70 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.61 -0.39 Jet Kerosene 120.34 -0.44 US$/barrel OpecOil Basket70 words
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Article23 2014-05-02 30 Apr 30 Apr s$ Bid Offer 1-month 1.2555 1.2563 2-months 1.2555 1.2563 3-months 1.2555 1.2563 6-months 1.2553 1.2562 Source: OCBC23 words
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Article65 2014-05-02 30 Apr-30 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1756.25 1771.00 3 months 1800.00 1813.00 Copper, Grade A(US$/tonne) Cash 6659.50 6731.00 3 months 6642.00 6715.00 Lead(US$/tonne) Cash 2081.25 2085.25 3 months 2106.00 2110.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.0065 words
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Article121 2014-05-02 30 As at 9am Apr 30 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.190 1.134 Can dollar 1.168 1.124 Euro 1.775 1.691 Sterling pound 2.152 2.070 NZ dollar 1.099 1.057 US dollar 1.282 1.221 Local dollars to 100 units of foreign121 words
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Article157 2014-05-02 30 Apr 30 $S Offer Bid 0vernight 0.08 0.03 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.16 US$ Offer Bid 7 days 0.20 0.10 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12157 words
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executive lifestyle
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Article, Illustration1001 2014-05-02 31 HELMI YUSOF - Guggenheim UBS’s new collection of Asian works is a small step for the museum, and a giant leap for Asian art, reportsHELMI HELMI YUSOF helmi@sph.com.sg FOR seven decades, the Guggenheim Museum in New York has been a temple for art lovers. But in its vast collection ofPHOTOS: SOLOMON R. GUGGENHEIM MUSEUM, NEW YORK GUGGENHEIM UBS MAP PURCHASE FUND - 1,001 words
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Article, Illustration728 2014-05-02 31 Navin Rawanchaikul (Thailand) Places of Rebirth, 2009; acrylic on canvas, 220cm x 720 cm Navin Rawanchaikul is a born-and-bred Thai, but his surname was originally Rawal a North Indian name. During the violent 1947 partition of South Asia, his family was forced to seek refuge in728 words
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CINEMA/MUSIC
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Article, Illustration599 2014-05-02 32 DYLAN TAN - The obligatory checklist of campy repartee and 3D pyrotechnics needs an update, writes DYLAN TAN writes DYLAN TAN SIZE matters, unfortunately, when it comes to superhero flicks. Ever since Marvel spoilt the market by lining up an ensemble for The Avengers (2012), one599 words
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Article, Illustration531 2014-05-02 32 DYLAN TAN - By DYLAN TAN dylantan@sph.com.sg @DylanTanSYBT BEFORE Glee, there was Grease, a high-school musical that many of us born on the other side of the new millennium (minus a decade or two, let’s not be picky) grew up with. Set in the late 1950s to531 words
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Article, Illustration530 2014-05-02 32 DYLAN TAN - By DYLAN TAN By dylantan@sph.com.sg @DylanTanSYBT IMAGINE going for dinner and the waiter forgetting your main course that's probably how mov-ie-goers might feel when they sit through Blue is the Warmest Colour, the controversial French coming-of-age drama that had its much talked-about lesbian sex scenes530 words
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Article, Illustration533 2014-05-02 32 DYLAN TAN - By DYLAN TAN dylantan@sph.com.sg @DylanTanSYBT NOT too long ago in a country far far away, Star Wars fans decided to celebrate everything they liked about the landmark George Lucas sci-fi film series on the fourth day of May every year. Also knownPHOTO: JOHN HENG - 533 words
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ARTS
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Article, Illustration1610 2014-05-02 33 RACHEL LOI - From sparse exhibitions and a lack of appreciation for prints to a successful ambitious 20 book project by 20 local photographers, the photography scene in Singapore has seen a boom in the last few years, but it still has a long way still to go, reports RACHELPHOTOS: DARREN SOH, SARAH CHOO JING; PHOTOS: 2902 GALLERY, SIPF - 1,610 words
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Article, Illustration342 2014-05-02 33 Upcoming photography events to check out: Platform The launch of the seventh book in the TwentyFifteen series A Little Big of Me from Everything Else by Matthew Teo is on at 7.30pm on May 6 at the National Museum of Singapore. Log on to http://twentyfifteen.sg forPHOTO: OBJECTIFS - 342 words
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Article, Illustration744 2014-05-02 34 writesCHEAH UI-HOON - The popular 1980s TV series Yes, Prime Minister moves from small screen to the big stage with more capers in the age of Twitter, writes CHEAH UI-HOON writesCHEAH writesCHEAH UI-HOON uihoon@sph.com.sg TIMES may change but government and governance remain pretty much the same. So thinks RobinPHOTO: ALEX RUMFORD - 744 words
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Article, Illustration832 2014-05-02 34 CHEAH UI-HOON - By CHEAH UI-HOON uihoon@sph.com.sg FOR many Singaporeans under the age of 40, the Little India riots would have been their first brush even if seen through the lenses of social media and viral news with disorder and chaos on home ground. Singapore’s colourfulPHOTO: DRAMA BOX - 832 words
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Article, Illustration815 2014-05-02 34 CHEAH UI-HOON - By CHEAH UI-HOON uihoon@sph.com.sg ON one wall, it is about capturing time in dripping paint. On the other, it is about capturing the electromagnetic pulses of dying stars which, in their last moments, become visible to the human eye. At first glance though, what you seePHOTO: FAREEZ AHMAD - 815 words
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Article, Illustration467 2014-05-02 34 RACHEL LOI - By RACHEL LOI rachloi@sph.com.sg DO you “Like!” musicals? Or more specifically, did you “Like!” any of local theatre company Toy Factory Productions’ original musicals from the last 24 years? If your answer is “yes” to the above, then you might be glad to hear about Toy Factory’sPHOTO: TOY FACTORY - 467 words
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PURSUITS
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Article, Illustration1588 2014-05-02 35 SARAH LYALL RIDGEFIELD - New Yorker cartoonist Roz Chast chronicles her late parents’ decline in her new graphic novel, Can’t We Talk About Something More Pleasant? By SARAH LYALL RIDGEFIELD NYT BY way of introducing her parents, Roz Chast opened her closet door and rummaged through some stuff onNYT; PHOTO: NYT - 1,588 words
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Article, Illustration371 2014-05-02 35 ADRIAN CHEONG - By ADRIAN CHEONG IT was art and fashion at its best at the glamorous ICON Ball on Tuesday, when 300 of Singapore’s social and business who’s who gathered at this annual high society event. Held at the Shangri-La Hotel, guests were dressed according to371 words
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Article, Illustration437 2014-05-02 35 GEORGINE VERANO - By GEORGINE VERANO gverano@sph.com.sg PREPARE to drink up when the sixth Beerfest Asia returns for its biggest edition to date this year. Festivalgoers and beer afficionados can look forward to up to 400 different types of products, including ciders, whiskies and wines, says LowPHOTO: BEERFEST ASIA - 437 words
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Around Town
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Article, Illustration189 2014-05-02 35 >Christie’s Hong Kong Spring Auctions: Christie’s annual Hong Kong Spring Auctions are back. The Singapore preview of the event will include 20th-century and contemporary art, paintings as well as jewellery and watches. This year’s preview will also include Christie’s Art Forum, a new addition for educational189 words
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Article243 2014-05-02 35 Explosion of Colours, by Justin Y: in Explosion of Colours, self-taught Hong Kong-based painter Justin Y explores the vibrant world of flora and fauna through the paintings of his solo exhibition. Using only his fingers and media that he can mould with his hands, this exhibition is inspired by243 words
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Article, Illustration314 2014-05-02 35 Georgine Verano - Compiled by Georgine Verano gverano@sph.com.sg Shakespeare in the Park The Mer- chant of Venice: The Shakespeare in the Park series is back, this time with a lighter story than last year’s Othello. Presented by the Singapore Repertory Theatre, The Merchant of Venice is the latest play in the highlyPHOTO: JUSTIN Y - 314 words
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WINE
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Article, Illustration1176 2014-05-02 36 NK YONG - Tasting the Vieux Chateau Certan 2007 in 2008 and savouring it now reveals how time transforms vinous taste profiles, writes NK YONG writes NK YONG I EXPECT that most of us are familiar with Hans Christian Anderson’s tale, The Ugly Duckling inPHOTO: AFP - 1,176 words
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Page 31 Advertisements
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Advertisement9 2014-05-02 31 MUSIC Grease musical’s trek down memory lane PAGE 329 words
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Page 33 Miscellaneous
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Miscellaneous357 2014-05-02 33 CRYPTIC CROSSWORD Across 1 Bit of material in old paper probed by female copper (6) 5 Helpless person made lax when coming into fortune (4,4) 9 March around end of town is featured in West End show song (2,3,5) 10 Company doctor providing something for nit inspection? (4) 11 Ray357 words
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Page 36 Advertisements
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Advertisement132 2014-05-02 36 Concentrated watercolors, water-based acrylics, and water A i I V Everywhere is Arf Simply look a little deeper That is what artists do. They look beyond the expected, often finding inspiration in surprising places. At UBS, we apply a similar kind of attitude to everything we do. It is through132 words
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