The Business Times, 30 May 2015
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2015-05-30
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The Business Times
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Title Section19 2015-05-30 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg MAY 30-31, 2015 S$1.00 I MCI (P) 052/O8/2014 $31 A SINGAPORE PRESS HOLDINGS PUBLICATION19 words
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Page 1 Advertisements
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Advertisement62 2015-05-30 1 Showcase by Singapore’s I design talents L6—7 Love golf?Hit the sweet spot with Swing, a new monthly special in your BT Weekend issue on MAY 2015 THE BUSINESS TIMES WEEKEND 30-31 EXCLUSIVE swing is like ordering curry’ TAN JU ‘My new KUANG THE JCC SAGA SHOWS NOTHING IS CARVED IN62 words
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Advertisement10 2015-05-30 1 THE RAFFLES CONVERSATION FORMER DIPLOMAT CHARLES W FREEMAN JR 8-910 words
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Advertisement11 2015-05-30 1 DINING The Brits are back L4-5 LIVING Quay attraction L2 311 words
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Article28 2015-05-30 1 TOWN COUNCIL MND has appealed against a ruling that turned down the application to appoint independent accountants to Aljunied-Hougang-Punggol East Town Council. 228 words
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Article19 2015-05-30 1 MONEYLENDING THE government has accepted 12 recommendations on moneylending to strengthen the regulatory regime. 419 words
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Article28 2015-05-30 1 A spectacle and within budget SEA GAMES THE sponsorship committee’s target was S$50 million. The total now stands at close to S$80 million from some 100 firms. 728 words
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Article28 2015-05-30 1 SQ836 A lawyer may mount a case for passengers of an SIA flight which temporarily lost power in its engines amid bad weather. 1028 words
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Article19 2015-05-30 1 TRADE FORECAST EXPORTS from Singapore are expected to rebound over the next five years. 2219 words
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Article, Illustration693 2015-05-30 1 Mindy Tan - Its guidelines, accepted by govt, call for wage increases of at least S$60 for those with basic monthly salary of up to S$1,100 By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE National Wages Council (NWC) has stressed the importance of focusing on skills to ignite693 words
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590 2015-05-30 1 Lee U-Wen - By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore EVERY country in Asia hopes that the relationship between the United States and China will be positive, and no one wants to have to pick sides between the two giants, said Prime Minister Lee Hsien Loong on590 words
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Page 2 Advertisements
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Advertisement184 2015-05-30 2 ppp LASER CLINIC A CLINIC OF DR GOH SENG HENG Everyone can have clear, glowing and healthy skin What are PPP Medical Laser Facials? PPP medical laser facials are safe and non-invasive methods of deep cleaning the skin, helping to clean and control* pimples, pores and pigmentation. ‘Results however, can184 words
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TOP STORIES
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357 2015-05-30 2 Kelly Tay - Ministry advised by AGC to file appeal for the appointment of independent accountants By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE Ministry of National Development (MND) on Friday filed an appeal against a High Court judgment that had turned down the government’s application357 words
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MARKETS
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Article59 2015-05-30 4 HSTI 3,392.11 (-25.66) HSTI FUTURES 3,394.00 (-19.00) HSIMSCI 378.69 (-2.67) HSIMSCI FUTURES 377.60 (-2.30) STOCKS Friday Change KL COMP 1,747.52 -8.04 NIKKEI 225 20,563.15 +11.69 HANG SENG 27,424.19 -30.12 SET 1,496.05 +2.44 JAKARTA 5,216.38 -21.02 MANILA 7,580.46 +75.43 KOSPI 2,114.80 +3.91 SHENZHEN B 1,542.18 +34.53 MUMBAI IND 27,828.44 +321.7359 words
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Article29 2015-05-30 4 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.754 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.85 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg29 words
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Article50 2015-05-30 4 FOREX US$ S$ US$ (S$ per US$) 1.349 (US$/S$ per 1.530 2.063 EURO (US$/S$/€ 1.095 1.477 Foreign currency per US$ S$ YEN 123.80 91.80 RM 3.664 2.717 HK$ 7.752 5.749 BAHT 32.70 24.99 RUPIAH 13,223 9,805 RENMINBI 6.199 4.597 INDIAN RUPEE 63.74 47.26 A$ 1.307 0.969 NZ$ 1.403 1.04050 words
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Article, Illustration615 2015-05-30 4 Jacquelyn Cheok - They aim to protect borrowers while allowing the industry to remain commercially viable By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE government on Friday accepted 12 recommendations by the Advisory Committee On Moneylending to strengthen Singapore’s moneylending regulatory regime. Some of these recommendations were found615 words
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ENGINEERS NEEDED
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437 2015-05-30 5 Fiona Lam - Growing demand for talent as national rail network expands By Fiona Lam fionalam@sph.com.sg Singapore RAIL engineers here can now be accredited as chartered engineers, after railway and transportation engineering was introduced as the latest discipline under the Chartered Engineer (CEng) programme by the Institution437 words
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524 2015-05-30 5 Fiona Lam - Structured career tracks for rail engineers, job rotation, management training and new accreditation By Fiona Lam fionalam@sph.com.sg Singapore TO IMPROVE the reliability of its train services and increase the attractiveness of its engineering jobs, public transport operator SMRT Corporation introduced on Friday a comprehensive524 words
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Article, Illustration680 2015-05-30 7 Lee U-Wen - SEA Games to be a spectacle and within budget: sponsorship chief Sport Singapore’s Richard Seow hails “unprecedented level” of support from firms By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore IT was about two years ago when a group of nine prominent corporate chiefs got together with one task in mind to680 words
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Page 3 Advertisements
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Advertisement349 2015-05-30 3 DBS Altitude Visa Signature Card S$1 up to 6 miles The fastest way to fly anywhere is now twice as fast. Only till 31 July. mr 1111 w-n 12,000 miles when you sign up online Upgrade to the fastest earning miles card by applying before 30 June 2015, and spend349 words
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Page 4 Advertisements
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Advertisement51 2015-05-30 4 CONTENTS LIVING Living L2-3 NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-25 Opinion 26-27 Wealth 28-30 Life Culture 31 Dining L4-5 Design L6-7 Style L8 Health L9 Motoring L10-11 Golf51 words
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Page 5 Advertisements
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Advertisement17 2015-05-30 5 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices17 words
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Advertisement236 2015-05-30 5 THE SOUND VISION SPECIALIST The Headphone Bar SALE Parrot Audeze Cypher Labs Parrot Zik2.0 V Zik2.0 j I Zikmu Audinst B&O Burson Westone shure Grado kef HiFiMAN JAYS Klipsch AKG FiiO RHA Sennheiser Heir Audio WOO Audio Fischer Audio Ultimate Ears Harman Kardon Selection of over 200 models available 1236 words
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Page 6 Advertisements
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Advertisement247 2015-05-30 6 BT Infographics A numbers game The 28th SEA Games starts on June 5, and Singapore is ready to put on a monumental show to dazzle the region. BT Weekend crunches the numbers ahead of the big day. TEAM SINGAPORE 749 athletes 342 officials Competing in 386 events Youngest athlete: 6-year-old247 words
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Page 7 Advertisements
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Advertisement131 2015-05-30 7 TURNING PASSION INTO OPPORTUNITY As a franchise owner you will enjoy Simple, effective systems for educating, marketing, sales and operations Extensive, proprietary curriculum, customised to the educational requirements of each student A time tested business model proven to attract and retain students A low overhead model with tremendous growth potential131 words
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THE RAFFLES CONVERSATION
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Article, Illustration2685 2015-05-30 8 / 9 Leon Hadar - Former career diplomat Charles W Freeman Jr leverages on his networks to build a company which sees profitability in sustainability. By Leon Hadar By Leon Hadar AMBASSADORCharles (“Chas”) W Freeman Jr, a former career diplomat who has become later in life an international businessman, publishedPHOTO: LEON HADAR - 2,685 words
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COMPANIES & MARKETS
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795 2015-05-30 10 Chan Yi Wen - US lawyer says the case bears ‘remarkable similarities’ to Qantas Flight 72 that fell 2,000m in 2008 By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore THE American lawyer who launched one of the largest aviation compensation claims in Australia over a 2008 Qantas flight795 words
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465 2015-05-30 10 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieleeBT Singapore GROWTH in lending by Singapore banks this year may just skim, or miss their expectations of at least 5 per cent rise, judging from the dismal loan figures for April, and465 words
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404 2015-05-30 10 Kelly Tay - By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore TAT Hong Holdings slipped into the red in its fourth quarter, reporting a net loss of S$17.08 million for the three months ended March 31, 2015, compared to a net profit of S$4.2 million in Q4404 words
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Article, Illustration523 2015-05-30 11 R Sivanithy - stocks R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent IT’S been a dismal five days for the local market, perennially living as it does in the shadow of Hong Kong and China and having to endure never-ending comparisons with those two markets, comparisons523 words
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Article79 2015-05-30 11 BY CENTS CLOSE UP 52w high/low IS MS INDIA S$D 1013 63.0 6.6 1116/874 Great Eastern 2494 54.0 2.2 2600/2150 DBXT MSKorea US$ 5821 53.9 0.7 6735/5484 IS MS INDIA US$ 763 33.7 3.4 1000/696 IS ASIA BND S$D 1447 27.0 1.9 1474/1303 BY PERCENTAGE CLOSE UP 52w high/low79 words
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Article80 2015-05-30 11 BY CENTS CLOSE DOWN 52w high/low JMH USD 6147 -168.5 -2.0 6788/5700 DBXT MSEurope US$ 6087 -155.0 -1.9 6492/5366 JSH USD 3324 -102.4 -2.2 3810/3233 Lafe Corp 1 124 -56.0 -31.1 200/124 Lyxor LATAM US$ 533 -52.6 -6.8 773/519 BY PERCENTAGE CLOSE DOWN 52w high/low Heeton W*****3 0.1 -90.080 words
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Article35 2015-05-30 11 VOLUME Noble 118,591,600 Singtel 57,323,000 OLS Enterprise 55,429,000 Joyas Intl 54,422,400 Weiye 53,667,400 Market volume 1,964,321,000 VALUE Singtel 235,900,073 UOB 178,219,347 DBS Grp 166,913,274 OCBC Bank 150,157,906 Keppel Corp 107,685,104 Market value 2,208,950,00035 words
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606 2015-05-30 11 R Sivanithy - By R Sivanithy sivan@sph.com.sg @RSivanithyBT Singapore THE market capitalisation of Singapore stocks inched down to S$994 billion in May from an all-time high of S$998 billion at the end of April. Over the same period, the Straits Times Index (STI)606 words
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Article307 2015-05-30 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 240 -9 249/240 271 219 6.1 6069.1 CapitaLand 349 -3 350/346 379 293 12.8 2.6 *****.4 CapitaMall Trust 217 -4 220/215 228 188.5 5 7529.3 CityDev 1052 +11 1053/1042 1095 915 12.6307 words
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Article114 2015-05-30 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US763 +25 727 763/736 1000/696 752/763 95.4 STI ETF 343 -3 239 346/342 355/319 342/344 UETF SSE50China 302 -6 209 308/293 325/140 302/308 94.4 IS ASIA HYG US$ US1079 cd -10 76114 words
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Article28 2015-05-30 12 May 29 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** Source: Thomson Reuters28 words
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Article796 2015-05-30 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 25 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Civmec Ltd 28-May-15 Michael Lorrain Vaz Buy 100 0.44 ***** 3.13 ***** 3.15 Aspial Corp 27-May-15 Koh796 words
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Article186 2015-05-30 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 7 2 0 0 0 5 7 2 Manufacturing 35 56 41 9 14 8 44 70 49 Commerce 18 21 19 2 4 3 20 25 22 Tpt/Stor/Comms 15 13 9186 words
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Article123 2015-05-30 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 30,608 30,608 170,684 170,684 Manufacturing 166,417 97,891 264,308 163,403 5,146 168,548 Commerce 219,242 32,991 252,233 158,348 2,149 160,497 Tpt/Stor/Comms 220,360 2,364 222,724 441,240 170 441,410 Finance 48,781 5 48,786 562,685 1 562,686 Construction 45,758 33,356123 words
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Article77 2015-05-30 12 May 29 VALUE CLOSE BT OB/OS -254.00 -99.00 BT CADI -*****.00 -58.00 BT 10-day MA -*****.00 -26.00 FTSE ST Mid Cap 783.50 +0.18 FTSE ST Small Cap 498.28 -0.74 FTSE ST All Share 816.60 -4.86 FTSE ST China Top 214.21 -1.70 FTSE ST China 254.39 -1.07 FTSE77 words
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Article83 2015-05-30 12 VOL CLOSE($) CHANGE Debao Property 33,998.6 0.050 +0.013 +35.14 Joyas Intl 54,422.4 0.035 +0.005 +16.67 Longcheer 2,207.1 0.105 +0.019 +22.09 Allied Tech 573.0 0.021 +0.003 +16.67 Tung Lok Rest 85.0 0.119 +0.009 +8.18 Lafe Corp 1 0.42 1.240 -0.560 -31.11 Serrano 103.0 0.139 -0.041 -22.78 Fuji Offset 20.083 words
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Article193 2015-05-30 13 May-28 Price Net change change Last Trade Agricultural May-28 CBOT Soybeans (US cents/bu) 926.00 -1.00 -0.11% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.06 0.33 1.04% 14/07/2015 CBOT Wheat (US cents/bu) 488.75 1.00 0.21% 14/07/2014 May-28 LIFFE Cocoa (£/tonne) 2125.00 -1.00 -0.05% 16/07/2015 LIFFE Coffee (US$/tonne) 1584.00 4.00 0.25%193 words
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Article57 2015-05-30 13 May 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 15 2179.0 2170.0 2180.0 2160.0 59 1079 Jul 15 2207.0 2215.0 2222.0 2205.0 2304 ***** Aug 15 2206.0 2216.0 2223.0 2200.0 ***** ***** Sep 15 2210.0 2220.057 words
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Article61 2015-05-30 13 May 29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.46 5-Year N*****0H 1.625 01-Oct-19 99.7 99.85 99.85 10-Year NX*****Z 2.375 01-Jun-25 99.62 99.65 99.65 15-Year NY*****E 2.875 01-Jul-29 102.44 20-Year NZ*****V 3.375 01-Sep-33 107.99 30-Year NA*****N 2.750 01-Apr-4261 words
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Article155 2015-05-30 13 May 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0312 1.0327 0.7650 0.7655 Canadian dollar 1.0833 1.0846 0.8040 0.8037 Euro 1.4759 1.4773 1.0949 1.0951 NZ dollar 0.9606 0.9620 0.7126 0.7131 Sterling pound 2.0615 2.0636 1.5293 1.5297155 words
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STOCK MARKETS
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Article, Illustration20 2015-05-30 13 ytd change: +0.80% 52-week high: 3,539.95 on April 15,2015 52-week low: 3,154.21 on Oct 16,2014 Source: BloombergSource: Bloomberg - 20 words
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Article, Illustration20 2015-05-30 13 YTD change: +16.18% 52-week high: 28,442.75 on April 28,2015 52-week low: 22,585.84 on Dec 17,2014 Source: BloombergSource: Bloomberg - 20 words
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Article, Illustration21 2015-05-30 13 YTD change: +42.57% 52-week high: 4,941.71 on May 27,2015 52-week low: 2,023.74 on June 19,2014 Source: BloombergSource: Bloomberg - 21 words
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Article, Illustration19 2015-05-30 13 YTD change: +17.84% 52-week high: 20,563.15 on May 29,2015 52-week low: 14,532.51 on Oct 17,2014 Source: BloombergSource: Bloomberg - 19 words
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Article, Illustration26 2015-05-30 13 YTD change: +1.70% 52-week high: 18,312.39 on May 19,2015 52-week low: 16,117.24 on Oct 16,2014 (Chart shows Thursday’s index closing) Source: BloombergSource: Bloomberg - 26 words
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212 2015-05-30 13 Most active May 29 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left WE Holdings Ltd W*****5 0.2 unch 7360 1 0 3 FTSEChinaA50 ***** MBeCW*****0 7.5 -0.7 5023 0.0 2 OLS Enterprise W*****5 0.3 -0.1 4294 1 1 18212 words
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373 2015-05-30 13 In local curr In S$ In US$ dy yr dy yr dy yr May 28 Index Change Change Change Change Change Change World Preliminary 1364.6 -0.2 7.0 -0.3 6.8 -0.2 4.7 EAFE Preliminary 1117.0 -0.1 13.2 -0.2 10.0 -0.1 7.8 Europe Preliminary 1556.2 -0.3 12.6373 words
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747 2015-05-30 14 Family is seeking control of Indonesia coal miner, after having five listed firms in S’pore Bloomberg Singapore INDONESIAN billionaire Eka Tjipta Widjaja is getting support from Singapore financiers to fund expansion as he bids for a London-listed mining company. A reverse takeoverBloomberg - 747 words
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Article, Illustration309 2015-05-30 14 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore FROM September, the Straits Times Index (STI) constituents must be more actively traded to be part of the benchmark. This puts the spotlight on the stable of companies under the Jardine group that have been on theSources: SPH, SGX, FTSE Russell - 309 words
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Corporate Digest
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Article111 2015-05-30 14 THE Energy Market Authority (EMA) has short-listed four companies BG Singapore Gas Marketing, Pavilion Gas, Sembcorp Industries, and Shell Eastern Petroleum to participate in stage two of its Request-for-Proposal (RFP) to import the next tranche of liquefied natural gas (LNG) into Singapore. Stage two will take place111 words
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Article58 2015-05-30 14 SWING Media Technology Group reported a 19.7 per cent drop in its profit for the year ended March 31, 2015, to HK$66.76 million (S$ 11.62 million). Sales rose 0.5 per cent to HK$1.1 billion. Earnings per share stood at 9.97 HK cents for FY2015 down from58 words
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Article102 2015-05-30 14 LIONGOLD Corp’s net loss narrowed to S$4.94 million for the three months ended March 31, 2015, compared to S$122.34 million in Q4 FY2014. Revenue was up 69.8 per cent to S$21.9 million. For the 2015 financial year, LionGold’s net loss narrowed to S$52.09 million from S$174.39 million in FY2014.102 words
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Article87 2015-05-30 14 WILLAS-ARRAY Electronics (Holdings) posted a 10.2 per cent increase in net profit to HK$31.96 million for the year ended March 31, 2015. This was attributed to a 6.1 per cent increase in revenue, to HK$3.39 billion in FY2015 from HK$3.2 billion in FY2014. Earnings per share stood at87 words
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REAL ESTATE
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Article, Illustration627 2015-05-30 15 Citigroup says he may sell assets to raise cash while DBS sees him seeking another partner Bloomberg Hong Kong KWOK Ying Shing weathered a corruption probe, a bond default and a failed white-knight takeover to regain control of Kaisa GroupBloomberg; PHOTO: BLOOMBERG - 627 words
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270 2015-05-30 15 Reuters Wellington NEW Zealand’s central bank has announced new mortgage regulations for lenders, requiring them to hold more capital against loans to residential property investors, in an attempt to curb risky lending as house prices hit record highs. From Oct 1,Reuters - 270 words
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350 2015-05-30 15 Bloomberg Los Angeles NEVERLAND Ranch, the former home of the late pop star Michael Jackson, is up for sale with an asking price of US$100 million, according to a person with knowledge of the offering. Thomas Barrack Jr said last July thatBloomberg - 350 words
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Article1078 2015-05-30 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN APRIL 15 AND APRIL 21, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 3 NON-LANDED Alex Residences Apt 16/04/2015 99 926 1585 1712 Commonwealth Twr Apt 20/04/2015 99 4741,078 words
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BANKING & FINANCE
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Article, Illustration788 2015-05-30 17 Iron and steel industry accounts for close to 20 per cent of restructuring cases by value Bloomberg Mumbai INDIA’S state-run banks’ restructured loans are souring at a record pace, threatening their appetite for new lending with profitability already at aBloomberg; PHOTO: BLOOMBERG - 788 words
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672 2015-05-30 17 They face legal issues and heavy tax burden unless there is special legislation in place Reuters London SUKUK issuance by governments around the world is expanding, helping to bring Islamic finance into the mainstream. But in one respect, the sovereign issues are provingReuters - 672 words
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ENERGY & COMMODITIES
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665 2015-05-30 18 They are expanding as new rules allow them to import nearly double the amount of crude Bloomberg Shanghai CHINA’S lead over the US as the world’s biggest buyer of crude oil is poised to get bigger, and it’s largelyBloomberg - 665 words
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Article, Illustration668 2015-05-30 18 Bloomberg New York WEALTHY Chinese who made their country into the world’s sec-ond-biggest market for diamonds are now increasingly travelling abroad to buy the stones, at a time when ostentatious purchases are frowned upon at home. That’s the view of TiffanyBloomberg; SPH FILE PHOTO - 668 words
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TECHNOLOGY
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740 2015-05-30 19 More consolidation in the chip industry is likely, especially since interest rates are low Bloomberg New York AVAGO Technologies’ purchase of Broadcom Corp represents the biggest technology deal of all time. It may not stay at the top for long. The US$37 billionBloomberg - 740 words
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Article, Illustration575 2015-05-30 19 AFP San Francisco GOOGLE unveiled its pay-with-a-phone system for Android devices, ramping up its challenge to Apple in mobile payments. Android Pay, unveiled at the Google developers conference in San Francisco, brings together mobile carriers, payment networks, banks and retailers toAFP; PHOTO: AFP - 575 words
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CONSUMER
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569 2015-05-30 20 Volume in Glaxo options contracts surged to the highest level since 2007 this month Bloomberg London OPTIONS traders are getting busy with a UK stock they have rarely paid attention to. Volume in GlaxoSmithKline Plc contracts surged to the highest level since 2007 thisBloomberg - 569 words
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Article, Illustration824 2015-05-30 20 Bloomberg Winnipeg A YEAR after record deluges damaged the lentil crops in Canada, vegetarians across India are getting sticker shock for the legumes that they eat at almost every meal. Stockpiles in Canada, the world’s biggest exporter, are downBloomberg; PHOTO: BLOOMBERG - 824 words
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TRANSPORT
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Article, Illustration733 2015-05-30 21 It’ll help fund, build and manage the US$3.6b new facility replacing the 50-year-old terminal Bloomberg New York A GROUP led by Swedish construction company Skanska AB and a Vancouver-based airport operator have been selected to help finance, build and manage a US$3.6 billionBloomberg; PHOTO: BLOOMBERG - 733 words
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384 2015-05-30 21 Reuters Seoul SOUTH Korean lawmakers passed a bill on Friday to ban taxi services provided by private drivers, marking what is likely the first nationwide legislation to outlaw Uber Technologies Inc’s low-cost uberX service. The ban, which will takeReuters - 384 words
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Page 22 Advertisements
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Advertisement10 2015-05-30 22 45Why the US and not Europe took action, Page 2710 words
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GOVERNMENT & ECONOMY
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585 2015-05-30 22 Chan Yi Wen - It will be boosted by economic and trade rejuvenation of Asia’s emerging markets By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore EXPORTS from Singapore are expected to rebound over the next five years, off the recovery of Asian economies as well as585 words
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Article, Illustration460 2015-05-30 22 Asian, African, Latin American states seen to rally around him Reuters Zurich WORLD soccer boss Sepp Blatter was expected to be re-elected on Friday, defying growing calls for him to step down in the face of corruption scandals engulfing the sport’sReuters; PHOTO: AFP - 460 words
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Briefing
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69 2015-05-30 22 AFP New Delhi India on Friday reported economic growth of 7.3 per cent for 2014-15, up from 6.8 per cent the previous year but missing by a whisker the government’s own forecast. The growth rate for the financial year ended March 31, 2015AFP - 69 words
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78 2015-05-30 22 Reuters Washington The US economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent US dollar and disruptions at West Coast ports, but activity has rebounded modestly. The government on Friday slashed itsReuters - 78 words
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82 2015-05-30 22 Reuters London Dealmaking in the United States has made its strongest start to a year since Reuters records began in 1980, climbing 52 per cent year-on-year to US$746.9 billion in the Jan 1 to May 28 period. Merger and acquisition (M&A) activityReuters - 82 words
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88 2015-05-30 22 Reuters Kuala Lumpur Malaysia’s beleaguered state fund 1MDB has signed a deal securing US$1 billion in funding from Abu Dhabi, days ahead of a looming deadline to repay a loan of that size, in what the government said was a significantReuters - 88 words
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459 2015-05-30 23 China’s central bank also warns of a slowing economy, rising debt levels There are worries China’s buoyant stock market is being powered by its looser monetary policy, at the expense of small businesses which are grappling with high real interest rates and a shortageReuters - 459 words
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Article127 2015-05-30 23 Bloomberg Beijing CHINA will use its New Silk Road project stretching from Asia to Europe to boost use of its currency in trade that may total US$2.5 trillion in a decade, according to Yao Gang, vice-chairman of China Securities Regulatory Commission. The One Road, OneBloomberg - 127 words
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353 2015-05-30 24 Prisca Ang - The four have helped grow certain industry sectors and shared insights with the govt By Prisca Ang prisang@sph.com.sg Singapore FOUR senior business executives have received national honours for their sterling contributions to Singapore. They are: 45Dominic Barton, global managing director of McKinsey Company; 45Michael353 words
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Article, Illustration533 2015-05-30 24 Bloomberg Tokyo THE Bank of Japan’s (BOJ) main gauge of inflation slowed to zero, as cheaper oil prices counter governor Haruhiko Kuroda’s effort to reflate the economy. Consumer prices excluding fresh food and effects of last year’sBloomberg - 533 words
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589 2015-05-30 24 Vikram Khanna - Rate hike will remove uncertainty distortion, says JP Morgan chairman There has been too little debate about the cost of staying too long with negative real interest rates By Vikram Khanna Singapore THERE is too much public debate about the cost of exit from a zero interest rate policy and589 words
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Article, Illustration1037 2015-05-30 25 History shows disastrous results Beijing faces if it prematurely opens capital account: academic Bloomberg Beijing MORE than three decades after Deng Xiaoping led Communist China down the path of economic liberalisation, its current-day leaders are taking the nation into what mayBloomberg; PHOTO: REUTERS - 1,037 words
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Advertisement8 2015-05-30 23 45Reforms on path littered with casualties, Page 258 words
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Advertisement1373 2015-05-30 23 Head Office No. 46, Guancian Rd., Jhongjheng District, Taipei City *****, Taiwan (Republic of China) Singapore Branch 80, Raffles Place, #34-01, UOB Plaza 1, Singapore *****4. Tel: +65 *****555 B O A R D O F D I R E C TO R S Chairperson of the Board Shiu Kuang-Si1,373 words
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Advertisement62 2015-05-30 25 HOT PROPERTY HILLTOP GROVE 1012SQFT. 2+study. Full/P/furn. Quiet Vacant, 100% Move-in, Mrt $2.3K. PARC SEABREEZE 1600 sf 4rm, sea view. Min to Park-way/ I12 Katong. Rent neg. Early July. KENSINGTON PARK S'GOON Gardens. Near French, US, Aussie Schools. 4 Rms 4 Baths. High Flr. LOOKING FOR A PLACE TO RENT?62 words
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Page 26 / 27 Miscellaneous
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Miscellaneous17 2015-05-30 26 / 27 SATURDAY with Ludwig ‘We’re looking for a smart HDB flat that’s so smart it can re-finance itself.’17 words
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OPINION
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Article, Illustration903 2015-05-30 26 / 27 Benoit Leleux - Any soft and fuzzy factors are differentiators, not drivers, and help such enterprises to deliver in today’s complex and dilemma-filled environments.By Benoît Leleux environments.By Benoit Leleux ~The writer is professor of entrepreneurship and finance at IMD and teaches in the Leading the Family BusinessPHOTO: BLOOMBERG - 903 words
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Article, Illustration762 2015-05-30 26 / 27 John Nauright - Political football: Why the US and not Europe took action on Fifa corruption By John Nauright ~The writer is professor of sport and leisure management at the University of Brighton, UK The Conversation THE arrest of seven top Fifa officials and the indictment of a group of 14 on corruptionThe Conversation; PHOTO: REUTERS - 762 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1460 2015-05-30 28 / 29 John Grossmann - More startup founders are passing on the desire for creating something new to their children from a very young age. By John Grossmann By John Grossmann NYT PERHAPS the most compelling family business narrative has long been about passing on an enterprise to the nextNYT; PHOTO: NYT - 1,460 words
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Article375 2015-05-30 28 / 29 Chan Yi Wen - Compiled by Chan Yi Wen IHH Healthcare Sell May 29 close: S$2.25 Target Price: S$1.77 UOB Kay Hian, May 29 IHH’s results were below our expectations on the back of lower-than-expected inpatient volume growth at Parkway Pantai Life (PPL) Malaysia and the Acibadem business. Margins are likely to375 words
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Article, Illustration1037 2015-05-30 30 Aaron M Kessler - Buyers now want the exclusivity of custom-tailored limited-production sedans. By Aaron M Kessler NYT IN the rarefied world of ultraluxury cars, buyers can already own some of the most lavish vehicles on the planet. But these days, just owning a Rolls-Royce or aNYT; PHOTO: NYT - 1,037 words
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Page 31 Miscellaneous
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Miscellaneous329 2015-05-30 31 CRYPTIC CROSSWORD Across 1 Close after mixing in crew’s quarters (10) 6 Back plans for junk mail (4) 9 Active serviceman dropped into drink... (5) 10 left crew circling English Channel (9) 12 Film director took a trip in Italy (7) 13 Tones down fashion before case of excess (5)329 words
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LIFE & CULTURE
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Article, Illustration435 2015-05-30 31 Elizabeth Mak - Misconceptions about the alcoholic beverage are dispelled By Elizabeth Mak eamak@sph.com.sg Singapore ABOUT 70 senior executives at The Business Times’ quarterly networking event were given a talk on Whisky 101 and invited to ditch their misconceptions about how the drink can bePHOTO: SHAWN TEO - 435 words
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548 2015-05-30 31 AFP Guanlong Island, China AS sunset falls on his private island in the South China Sea, entrepreneur Lin Dong likes few things better than to lounge on a hammock strung between two trees as waves lap the shore. “I don’tAFP - 548 words
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Page 32 Advertisements
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Advertisement112 2015-05-30 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE BRASSUS. THE EARLY WATCHMAKERS WERE SHAPED HERE, IN AWE OF THE FORCE OF NATURE YET DRIVEN TO MASTER112 words
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Advertisement65 2015-05-30 1 THE BUSINESS TIMES WEEKEND MAY 30 31 2015 BT Living QUAY ATTRACTION Robertson Quay’s river promenade is poised to be an entertainment haven L2-3 PHOTO: RB CAPITAL DINING Brit brands invade F&B scene L4-5 DESIGN NUS industrial design show L6-7 MOTORING Revving up the motors L10-11 STYLE New fashion wings65 words
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BT Living
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LIVING
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Article, Illustration1105 2015-05-30 2 / 3 Tay Suan Chiang - Robertson Quay is poised to be a premier F&B draw, with its river promenade re-imagined to be a lush entertainment haven. Quayattraction By Quayattraction Tay Suan Chiang taysc@sph.com.sg @T aySuanChiangBT HEAD down to Robertson Quay on any weekend, and the place is buzzing with families, couples and groupsbusiness. PHOTOS: RB CAPITAL, SCDA, SUPER LOCO, SOI 60, TAY SUAN CHIANG - 1,105 words
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DINING
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Article, Illustration941 2015-05-30 4 / 5 Daven Wu, Tay Suan Chiang - One soft opens this weekend. Another is putting finishing touches for its planned opening at the end of June. The third is expanding with a second location soon. Get ready for a British invasion of Singapore but this time of a culinary kind. We take aPHOTO: MEATLIQUOR - 941 words
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Article, Illustration738 2015-05-30 4 / 5 Daven Wu - By Daven Wu TO say that Gordon Ramsay (right) has had a rough couple of years is to understate matters. In mid-2013, the Scotland-born chef’s 12-year old flagship restaurant Gordon Ramsay at Claridge’s was shuttered amid disappointing reviews and a failure to renew the contractPHOTO: BREAD STREET KITCHEN - 738 words
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Article, Illustration537 2015-05-30 4 / 5 Tay Suan Chiang - By Tay Suan Chiang taysc@sph.com.sg @T aySuanChiangBT IT used to be that if you wanted some pastas, grills or salads with Jamie Oliver’s name on it, you would have to make your way to VivoCity. But not anymore. Jamie’s Italian a partnership between celebrity chef Jamie OliverPHOTO: JAMIE’S ITALIAN - 537 words
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DESIGN
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Article, Illustration1071 2015-05-30 6 / 7 Tay Suan Chiang - From tableware to tabao-ware, projects by NUS’s School of Design and Environment students promise to make life easier and more interesting. By Tay Suan Chiang By Tay Suan Chiang SINGAPORE design talents are being spotted at a young age, going by the promising work onPHOTO: (left, L-R) Ms Goh, Ms Bae and Ms Huang - 1,071 words
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STYLE
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Article, Illustration1050 2015-05-30 8 May Yip - Just like shopaholics purging their wardrobes to update sartorial options, it’s that time of year for malls to weed out the old and breathe life into their tenant mix with new additions. By May Yip By May Yip FOR those thinking that it’s been “mall of the same”1,050 words
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HEALTH
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Article, Illustration1460 2015-05-30 9 Michael Lim - Understanding the mechanisms and causes of strokes go a long way in preventing them Michael Lim ~Dr Lim is the medical director at Singapore Heart, Stroke Cancer Centre. He is also the founding editor of ‘Heart Asia’, a journal of the British Medical Journal Publishing Group.FILE PHOTO - 1,460 words
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MOTORING
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Article, Illustration531 2015-05-30 10 Samuel Ee - The Volvo S80 T5 Drive-E offers both power and fuel efficiency. By Samuel Ee samuelee@sph.com.sg VOLVO seems to have struck the perfect balance between displacement and performance with its Drive-E engines. These two-litre, four-cylinder turbocharged units were developed inhouse for low consumption but high output. On the olvo531 words
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Article, Illustration775 2015-05-30 11 Samuel Ee - The new Audi Q7 debuts with a wide range of intelligent driver assistance features. By Samuel Ee By Samuel Ee samuelee@sph.com.sg AS with its sharpened, more chiselled styling, the Audi Q7 will also be interesting for the innovative driver assistance systems that are being introduced with it. This775 words
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BT CORPORATE GOLF LEAGUE 2015
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Article, Illustration599 2015-05-30 12 Justine Moss - From responses at the networking night, teams are eagerly awaiting the start of the 2015 BT Corporate Golf League. By Justine Moss By Justine Moss THIS year’s edition of the Business Times Corporate Golf League kicked off on Thursday evening with a networking night599 words
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Advertisement809 2015-05-30 6 / 7 wine&dine with BTWeekend Peach Blossoms Marina Mandarin Singapore 6 Raffles Boulevard, Level 5 Z6845-1118 Rice Dumpling Festival Satisfy your glutinous rice cravings this Rice Dumpling Festival at Peach Blossoms. Look out for all-time favourites such as Hong Kong Style Rice Dumpling with Pork Belly, Conpoy, Mushrooms, Salted Egg, Chestnut, Lotus809 words
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Page 1 Advertisements
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Advertisement70 2015-05-30 1 30-31 MAY 2015 THE BUSINESS TIMES WEEKEND DAVIDLEADBETTERER EXCLUSIVE ‘My new swing is like ordering curry’ TAN JU KUANG THE JCC SAGA SHOWS NOTHING IS CARVED IN STONE UNDERCOVER PRO A CHEAT CAN NEVER SHAKE THE TAG ON TOUR OYSTER PERPETUAL DATEJUST k/ 6* N ROLEX Cortinawatch CHINATOWN POINT, #01-08/09.70 words
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THE BUSINESS TIMES WEEKEND SWING
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editor’s letter
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Article, Illustration530 2015-05-30 2 S. MURALI - FROM LEADBETTER AND JURONG’S SAD DEMISE BY S. MURALI It has been an eventful month since the last issue of Swing, especially in Singapore. The big bombshell moment came when Jurong Country Club (JCC) members were told that their course would be taken away in November next year,530 words
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singapore scene
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Article, Illustration799 2015-05-30 3 TAN JU KUANG - U N CE RT; he impending and premature closure of J urong Country Club has led to questions on the presumed sanctity of government leases, and the price our golf community has to pay towards national development. BY TAN JU KUANG Imagine this: You have 15ST file photo - 799 words
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tried & tested
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Article, Illustration275 2015-05-30 4 TAN JU KUANG - BY TAN JU KUANG Marina Bay Golf Course is turning to the novel to inject new life into the traditional sport of golf. In its recent foray into a new realm, the NCI Golf-operated establishment will offer its golfers the chance to cruise around its Phil275 words
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Article, Illustration335 2015-05-30 4 Golf’s ultimate putter craftsman Scotty Cameron expands his putter range with two new models Roundback and new GoLo. The Roundback is a mid mallet putter that features an aluminium sole with crisscross sight lines that aid alignment. It has a shape similar to the ever-popular335 words
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Play it
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Article, Illustration100 2015-05-30 4 Raffles Country Club’s annual charity event will be held on July 4 and 5, at both Palm and Lake Courses. As is typical of Raffles’ charitable efforts, the target of S$500,000 to be raised will go towards several charitable organisations that include Handicaps Welfare Association,100 words
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singapore scene
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Article, Illustration750 2015-05-30 5 GODFREY ROBERT - A TOUGH, FA t’s unique. It’s fascinating. It’s challenging. And, best of all, Horizon Hills Golf and Countiy Club, located in the heart of Iskandar Development region in Johor, is an enjoyable layout. Many holes of the Ross \\‘atson—designed course leave you with750 words
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Article, Illustration1125 2015-05-30 6 DAVID LEE - 1 d iing B ting to ustry. 1 teaching, he average "y difficult. to play or play well. he Alternaficult thing is a lot of BY DAVID LEE Congrats on your new book. Why come up with A Swing now? DAVID LEADBETTER: This is my first instructiontnp photo: Choo Chwee Hua - 1,125 words
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Article, Illustration103 2015-05-30 7 In the May issue, Golf Digest fitness adviser Ben Shear unveiled an Eccentric Training programme for golfers that emphasises the often-ignored second half of an exercise, such as the lowering of the weight in a bench press. Here’s one more to try: 1 Lace your hands behindphotos by David Brandon Geeting - 103 words
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Article219 2015-05-30 7 MOVE IT TO THE TOP OF YOUR VITAMIN LIST Natural Vitamin D is difficult to get during the winter because the sun’s UV rays can’t sufficiently penetrate the atmosphere. But come summer, there’s no excuse. Ten to 20 minutes of sun exposure directly on the skin—without the use of219 words
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us open 2015
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Article, Illustration907 2015-05-30 8 ALEX MYERS - ’.."4‘“"?»".‘7"~\x I TS T“‘<%:«;.~f?3'a;+.>-««£; Wzafg "-wcfir A l': 1.». 1. u "LT-I"""§“ §§‘~“3“=.“-‘$9 -«mg; 7’ ‘vi. '.>' ‘.5-;, ‘-5 2-.‘« 55¢ :.‘_~'.~<~‘-: .-?">«\~_. W .3. ;\d *7” ..»’-_:;r_ ff")? 7 ‘Z r. .\‘..< H« A 1 .1: 4: 4 W. 1 ““'4.”.”=‘.«e3* l‘- .3.‘ x)’ I *1-'3 ‘;*‘>‘photo by J.D. Cuban - 907 words
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Article59 2015-05-30 8 Phil Mickelson has been a US Open runner-up a record six times. His 10 top-10 finishes: US OPEN Shinnecock Hills Olympic Pinehurst Southern Hills Bethpage Black Shinnecock Hills Winged Foot Bethpage Black Pebble Beach Merion FINISH T-4 T-10 2 T-7 2 2 T-2 T-2 T-4 T-2 199559 words
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Article, Illustration302 2015-05-30 9 BUTCH HARMON - TRY THIS DRILL TO STEADY YOUR CHIPPING BY BUTCH HARMON Butch Harmon is based at Rio Secco Golf Club near Las Vegas. Here’s what jumps out at me when I see players yipping chip shots: The left arm stops deadjust before impact, and the right hand flips. If302 words
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Article, Illustration228 2015-05-30 9 RICK SMITH - YOU THREE-PUTT FROM THE FRINGE BY RICK SMITH Rick Smith is a Golf Digest Teaching Professional. The old saying is defi nitely true: Your worst putt is better than your worst chip. So if you’re just off the green, grab that putter whenever you can. A lot228 words
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Article, Illustration80 2015-05-30 9 When you’re putting from off the green, think of it as two putts: one from the ball to the green, the other from the edge of the green to the hole. The trick is getting the speed right when it transitions to the second80 words
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Article, Illustration103 2015-05-30 9 In the 2009 British Open, Tom Watson, at age 59, needed a par on the 72nd hole to win the Claret Jug for the sixth time. He hit a perfect drive and a great approach, but his ball trickled off the back of thephotos by J.D. Cuban, jim Luft, Ross Kinnaird/Getty Images; illustration by Paul Blow - 103 words
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Article, Illustration1618 2015-05-30 10 / 11 GUY YOCOM - FATHER SON M DAVIS TO DRU BEYOND Davis BY GUY YOCOM FATHER SONS VIDEOS Golf’s role in family is the theme of videos featuring Davis Love III, Hale Irwin, Jack Nicklaus, Nick Price and Dave Stockton, with their sons, starting June 1 at golf digest.com/go/fathersandsons W G OCOM ayis Lovephoto by Walter looss Jr. - 1,618 words
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Article, Illustration675 2015-05-30 10 / 11 Max Adler - UNDERCOVER TOUR PRO with Max Adler With galleries and TV cameras you’d think it never happens. Nudge your ball marker a quarter of an inch, and the clip ends up on YouTube. Make the slightest sketchy manoeuvre, and the story moves down the675 words
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Advertisement128 2015-05-30 5 Ramadhan Golf Promotion Weekdays (Tuesdays -Fridays) Sundays Afternoon RM 127.20 nett per pax RM 164.30 nett per pax Inclusive of green fee, buggy (twin sharing) golfer’s insurance Terms conditions: No rain check Not applicable on public holidays Caddy is compulsory Validity: 18 June to 16 July 2015 Ramadhan Baazar Venue-128 words
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Advertisement115 2015-05-30 7 6y YeChun Xiao Jiang Nan 50 POPULAR DISHES prepared by Yang Zhou Chefs Healthy and Delicious! j OPENING OFFER Dine at YECHUN and get a FREE Trip to Jiang Nan Simply spend $98.00++ per person get a Free 5 Days Jiang Nan Tour (Include Return Ticket) FIRST COME, FIRST SERVE!115 words
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Advertisement36 2015-05-30 12 OYSTER PERPETUAL DAY-DATE V t ROLEX MO fssZ, fl c S I \&> cortmawatch CHINATOWN POINT, #01-08/09. TEL: 6702 0061 PARAGON, #01-13. TEL: 6235 008-4 RAFFLES CITY, #OI-36A. TEL: 6339 9185 WATCH FEATURED SUBJECT TO STOCK AVAILABILITY36 words
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