The Business Times, 21 October 2015
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2015-10-21
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The Business Times
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Title Section33 2015-10-21 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 q:h A SINGAPORE PRESS HOLDINGS PUBLICATION wvvw.businesstimes.com.sg [3 D@BTBreakingnews CO REGN NO ’l*****868E MCI (P) 039/08/2015 Wednesday, October 21,201533 words
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Article, Illustration329 2015-10-21 1 New-home construction in the US climbed in September, a sign residential real estate will bolster the world’s largest economy.TOP STORIES 2 Analysts say the divergence of opinion between the Malaysian central bank and the attorney general’s chambers on the 1MDB issue is doing little for investor confidence.TOP STORIES329 words
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Article29 2015-10-21 1 MARKETS Tuesday Change STI 3,019.03 -5.47 KL COMP 1,705.03 -13.17 NIKKEI 225 18,207.15 +75.92 HANG SENG 22,989.22 -86.39 SHENZHEN B 1,159.30 +6.70 DOW (11:45 am EDT) 17,232.51 +1.9729 words
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Article, Illustration696 2015-10-21 1 Lee Meixian - They include detailing non-commercial risks, developing benchmarks, data, analyses of performance and risks, and infrastructure debt asset class By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SINGAPORE’S Deputy Prime Minister Tharman Shanmugaratnam on Tuesday launched three initiatives to make infrastructure investment a morePHOTO: FINANCIAL TIMES - 696 words
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Article, Illustration654 2015-10-21 1 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo PRICES of all main commodities are expected to continue their five year-long slide throughout this year, and make only a “modest recovery” next year, the World Bank said on Tuesday, in a report offeringPHOTO: REUTERS - 654 words
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Page 1 Advertisements
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Advertisement15 2015-10-21 1 8 "*****1 *****4 CITY HARVEST CASE Verdict after two years in court TOP STORIES 615 words
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Advertisement24 2015-10-21 1 CHINA OPENS UP BOC launches RMB bond trading index COMPANIES MARKETS 7 DBS’S LONDON RETREAT Bank is ’dialling up’ presence there TOP STORIES 624 words
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Advertisement11 2015-10-21 1 ZERO INTEREST RATES Expect more of money glut EXECUTIVE MONEY 2711 words
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Advertisement28 2015-10-21 1 Want to catch some world-class tennis action this Sunday? We’ve got three pairs of WTA Finals Category 1 tickets to give away. See Page 25 for contest details.28 words
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TOP STORIES
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Article, Illustration647 2015-10-21 2 Lee Meixian - Mismatches include those between capital and project; debt tenures By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore AS with anything that is on the cusp of growth, the possibilities abound but problems surely exist. So it is on the infrastructure financing scene. Panellists atPHOTO: BLOOMBERG - 647 words
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Article, Illustration591 2015-10-21 2 LATEST US DATA BLOOMBERG Washington NEW-HOME construction in the US climbed in September, a sign residential real estate will bolster the world’s largest economy. Housing starts rose 6.5 per cent to a 1.21 million annualised rate, more than forecast and the second-highestBLOOMBERG; PHOTO: BLOOMBERG - 591 words
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912 2015-10-21 4 Pauline Ng - Analysts see investors losing confidence in country’s due process By Pauline Ng btworld@sph.com.sg Kuala Lumpur HAS the outlook for Malaysia’s financial system become “cloudy with a diminishing chance of clarity”? Analysts say the divergence of opinion between the central bank and attorney-general’s chambers912 words
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Article, Illustration287 2015-10-21 4 KELLY TAY - BT Infographics BY KELLY TAY A whopping 106,783 fires have been detected in Indonesia so far in 2015 and experts think things could deteriorate further. But just how bad is the situation, relative to the past and in comparison to other countries’ emissions? The Business Times peers throughSource: Global Fire Emissions Database, World Resource Institute BTGraphics - 287 words
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Article, Illustration536 2015-10-21 6 Claire Huang - Church founder Kong Hee and his five deputies will know their fate on Wednesday By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE six leaders of City Harvest Church are scheduled to find out on Wednesday if they can heave a sigh ofFILE PHOTO - 536 words
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Article, Illustration838 2015-10-21 6 Siow Li Sen - They also meet key clients. Bank says it is ‘dialling up’ its presence in the British capital By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore DBS GROUP’S tradition of an “off-site” annual board meeting took its nine-di-rectors and 20-strong management committee838 words
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270 2015-10-21 6 Soon Weilun - By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore APPLICATIONS for SkillsFuture Study Awards officially open on Tuesday, and more than 500 awards will be made available to help applicants deepen their specialist skills. Each award is worth S$5,000 and can be used to270 words
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Article, Illustration458 2015-10-21 6 Samuel Ee - By Samuel Ee samuelee@sph.com.sg Singapore PARALLEL imports (Pis) are exploding back on the scene as the certificate of entitlement (COE) quota expands and replacement buyers seek out less expensive models. A total of 5,036 parallel imports were registered from January to September 2015,PHOTO: BLOOMBERG - 458 words
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637 2015-10-21 6 Amit Roy Choudhury - By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore LINKEDIN and National Trades Union Congress (NTUC) have come together to host a series of mentorship sessions called Meet LinkedIn Power Profiles. These closed-door sessions designed for 10637 words
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Advertisement121 2015-10-21 2 A first class cabin that feels as private as a private jet. When it comes to our First Suite on the 787 Dreamliner, we guarantee our guests the utmost privacy and comfort. With access to your own chilled refreshments, personal wardrobe, and a 24-inch flat-screen TV, you can sit back121 words
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Advertisement286 2015-10-21 4 FRANCHISING LICENSING ASIA 2015 DAY countdown EXHIBITION CONFERENCE 29 31 OCTOBER 2015 10.30am 6.30pm (Thu Fri) 10.30am 5.30pm (Sat) Sands Expo Convention Centre, Level 1, Hall B i Marina Bay Sands, Singapore ACTIVATE YOUR AMBITION Gain direct access to leading franchise brands from all over the world, all under one286 words
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Advertisement11 2015-10-21 6 Honda joins Toyota to lead surge in new cars, Page 2011 words
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COMPANIES & MARKETS
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642 2015-10-21 7 Melissa Tan - Size of IPO in HK will be up to 40% of enlarged share capital; funds for buying new aircraft, general corporate purposes By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE proposed float of the Bank of China’s Singapore-based aircraft leasing unit could fetch642 words
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397 2015-10-21 7 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BANK of China (BOC) on Tuesday launched its RMB (renminbi) Bond Trading Index a move that comes on the back of the gradual internationalisation of China’s capital markets and its currency. The index will allow overseas investors to397 words
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389 2015-10-21 7 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore EXCHANGE traded fund businesses expect to grow by nearly 18 per cent per year for the next three to five years, a global survey of the ETF industry by EY shows. This is expected as they continue to389 words
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604 2015-10-21 8 Tan Hwee Hwee - Thanks to vessel transaction, Q4 earnings jump to US$36.3m despite revenue fall By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore DESPITE lower revenue and a gross loss, EMAS Offshore Ltd emerged from a volatile fiscal fourth quarter with a more than doubling in net profit604 words
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236 2015-10-21 8 Anita Gabriel - By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore MAPLETREE Industrial Trust (MIT) posted a 7.3 per cent increase in distribution per unit to 2.79 Singapore cents in the second quarter ended September from 2.60 Singapore cents a year ago. Gross revenue rose 6.2236 words
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694 2015-10-21 8 Lynette Khoo - By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CNQC (South Pacific), mainly known for its development and construction businesses in Singapore, has undergone a backdoor listing on the Hong Kong mainboard through a reverse takeover (RTO). The RTO deal involved Hong Kong-listed building contractor CNQC International (formerly694 words
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Article391 2015-10-21 8 ShareInvestor A SUBSIDIARY OF sfh GKE on track to strengthen earnings base with strategic investments taking shape GKE Corporation Limited (“GKE”), a leading integrated logistics solutions provider continues to grow prudently in the warehousing and logistics value chain space in Singapore, while streamlining and improving operational efficiencies.391 words
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559 2015-10-21 8 Amit Roy Choudhury - By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore DATA centre and logistics provider Keppel Telecommunications Transportation (Keppel T&T) on Tuesday reported a 17.1 per cent drop in third-quarter net profit to S$ 15.31 million, from S$ 18.47 million one year ago. Revenue for559 words
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433 2015-10-21 9 Tan Hwee Hwee - Marine and engineering firm’s full-year profit rises 2% to US$27.15m as Q4 earnings climb 59% By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore OFFSHORE marine and engineering player Triyards Holdings posted a steady full-year net profit of US$27.15 million, backed by a constant order intake for433 words
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238 2015-10-21 9 Melissa Tan - By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore COMMODITIES trader Noble Group has clinched what it called a “significant number of slots” for mid-term delivery of liquefied natural gas (LNG) cargoes to Egypt’s second floating LNG import terminal, it said on238 words
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CORPORATE DIGEST
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Article18 2015-10-21 9 BOUSTEAD Projects, a real estate solutions provider, has clinched two contracts worth S$59 million in Singapore.18 words
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Article30 2015-10-21 9 COSCO Corp’s shipyard division has won contracts worth US$150 million to build an oil tanker for an Asian company and two cargo transfer vessels for a European firm.30 words
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Article50 2015-10-21 9 UNITED Overseas Bank (UOB) Hong Kong has moved to bigger premises which has increased its total area by 70 per cent to accommodate its expanding wholesale banking business. The biggest office is at Garden Road, which accounts for more than 60 per cent of the total area.50 words
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Article29 2015-10-21 9 CITIC Envirotech has secured a 400 million yuan (S$88 million) engineering, procurement, construction (EPC) contract to construct a wastewater treatment plant in Tianshui City, Gansu Province, China.29 words
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Article36 2015-10-21 9 SUNMOON Food Company said it has reached full and final settlement to pay nTan Corporate Advisory a sum of S$2.1 million plus 7 per cent GST in instalments in relation to a suit.36 words
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Article, Illustration713 2015-10-21 10 R Sivanithy - Turnover remains a tepid 2.5b units worth S$935 million as traders await next week’s FOMC meeting STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT PENNY stocks dominated a broadly mixed session on Tuesday which ended with the Straits Times Index down 5.47 points at 3,019.03,Source: Bloomberg - 713 words
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Article313 2015-10-21 10 For full listings of SGX prices, go to http://btd.sg/BTmkts Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 240 -3 245/240 271 213 6.1 6073.1 CapitaLand 305 -7 312/303 379 267 11.2 3 *****.2 CapitaMall Trust 204 unch 207/204 228 184.5313 words
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Article37 2015-10-21 10 VOLUME Loyz Energy 188,193,700 Debao Property 129,631,900 China Env 109,686,900 MMP Resources 104,683,700 QT Vascular 91,169,000 Market volume 2,612,266,000 VALUE Wilmar Intl 73,222,447 Singtel 58,312,767 DBS Grp 58,094,789 CapitaLand 48,035,541 Noble 45,246,913 Market value 935,077,00037 words
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Article108 2015-10-21 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 307 121 307/305 355/280 306/307 DBXT MSKorea US$ US5411 -10 48 5411/5411 6246/4478 5402/5416 7.8 UETF SSE50China 230 -1 48 230/226 340/151 226/231 71.9 DBXT MSINDO us$ US1162 20 1169/1161 1492/911 1162/1166 IS ASIA108 words
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Article77 2015-10-21 10 Oct 20 VALUE CLOSE BT OB/OS 584.00 -105.00 BT CADI -*****.00 +8.00 BT 10-day MA -*****.00 +59.00 FTSE ST Mid Cap 700.46 -0.40 FTSE ST Small Cap 428.06 +0.18 FTSE ST All Share 728.65 -1.07 FTSE ST China Top 180.76 +2.15 FTSE ST China 222.57 +2.67 FTSE77 words
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Article, Illustration35 2015-10-21 10 STI FTSE ST All-Share ftse ST All-Share index Oct 20,2015 728.65 -1.07 (-0.15%) Current streak 2 days Day high 731.08 Day low 727.73 52-week high 847.98 (Apr 15, 2015) 52-week low 676.13 (Sept 29, 2015)35 words
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Article, Illustration33 2015-10-21 10 STI MSCI EAFE MSCI EAFE Index Oct 19,2015 1,754.61 -8.57 (-0.49%) Current streak 1 day Day high 1,765.20 Day low 1,753.49 52-week high 1,949.49 (May 15, 2015) 52-week low 1,609.50 (Sept 29, 2015)33 words
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Article186 2015-10-21 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 6 5 0 0 0 4 6 5 Manufacturing 48 40 31 13 8 7 61 48 38 Commerce 23 17 13 8 7 2 31 24 15 Tpt/Stor/Comms 14 11 12186 words
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Article121 2015-10-21 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 22,988 22,988 68,665 68,665 Manufacturing 342,374 240,015 582,389 143,351 22,136 165,487 Commerce 148,875 313,911 462,786 69,222 22,012 91,234 Tpt/Stor/Comms 156,160 1,851 158,011 135,507 161 135,669 Finance 40,449 395 40,844 135,140 55 135,195 Construction 129,348 57,854121 words
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Article74 2015-10-21 10 BY CENTS CLOSE UP 52w high/low SPDR DJIA US$ ***** 1248.8 5.5 *****/***** B&M Trustees 630 110.0 21.2 630/320 SPDR S&P500 US$ ***** 86.0 0.3 *****/***** DBXT DBCDJUBS US$ 1992 50.0 1.8 2662/1932 Wilmar Intl 317 26.0 8.9 342/246 BY PERCENTAGE CLOSE UP 52w high/low New Silkroutes 0.2 100.074 words
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Article74 2015-10-21 10 BY CENTS CLOSE DOWN 52w high/low Lyxor Idonesia US$ 7322 -101.3 -1.0 9182/6250 JMH USD 5300 -59.7 -0.8 6788/4502 DBXT Vietnam US$ 2427 -31.9 -0.9 2963/2139 Lyxor Mal US$ 741 -25.0 -2.4 1041/654 Hyflux 6% CPS ***** -20.0 -0.2 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low Charisma W*****3 0.274 words
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Article80 2015-10-21 10 VOL CLOSE($) CHANGE Loyz Energy 188,193.7 0.091 +0.016 +21.33 China Env 109,686.9 0.107 +0.017 +18.89 SunVic Chemical 5,670.0 0.290 +0.050 +20.83 SinoCloud 27,549.5 0.003 +0.001 +50.00 Ley Choon 700.6 0.039 +0.004 +11.43 InnoPac 26,508.5 0.006 +0.001 +20.00 Debao Property 129,631.9 0.054 +0.010 +22.73 CosmoSteel 2,784.2 0.150 +0.023 +18.1180 words
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Article472 2015-10-21 10 Claire Huang - Compiled by Claire Huang M1 Buy Oct 20 close: S$2.92 Target price: S$3.26 UOB Kay Hian, Oct 20 M1’s Q3 2015 results were in line with expectations. There was modest growth in postpaid mobile coupled with continued strong growth in fibre broadband. The stock has suffered a steep472 words
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Article18 2015-10-21 10 DATA I Oct 21, 4pm Singapore COE Bidding Results I Oct 21, 8pm US MBA Morgage Applications18 words
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454 2015-10-21 11 CURRENCIES REUTERS London THE euro rose 0.5 per cent against the US dollar on Tuesday, helped by solid data and a change in the mood music from European Central Bank policymakers before Thursday’s meeting, beating back market bets on further monetary easing. QuarterlyREUTERS - 454 words
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FOREX RATES
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Article471 2015-10-21 11 Oct 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.948 4.631 0.643 5.651 47.307 99.426 0.873 8.232 3.096 1.067 76.125 33.695 1.012 9.655 0.695 23.590 25.799 0.471 0.729 Canada 1.055 4.886471 words
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Article155 2015-10-21 11 Oct 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0116 1.0126 0.7290 0.7294 Canadian dollar 1.0673 1.0683 0.7695 0.7692 Euro 1.5746 1.5756 1.1348 1.1350 NZ dollar 0.9480 0.9493 0.6832 0.6838 Sterling pound 2.1480 2.1498 1.5480 1.5486155 words
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Article22 2015-10-21 11 Oct 20 S$ Bid Offer 1-month 1.3885 1.3892 2-months 1.3895 1.3903 3-months 1.3903 1.3913 6-months 1.3932 1.3943 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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203 2015-10-21 11 Most active Oct 20 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 12.8 -1 5613 0.1 1860 4 FTSEChinaA50 9500 MBePW*****7 10.4 -0.8 4781 0.0 --1 Rowsley Ltd W*****3 2.8 -0.1 4770 1 18 12 KepCorp203 words
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373 2015-10-21 11 In local curr In S$ In US$ dy yr dy yr dy yr Oct 19 Index Change Change Change Change Change Change World Preliminary 1273.6 -0.1 -0.2 0.1 2.8 -0.2 -1.7 EAFE Preliminary 1005.7 -0.2 1.9 -0.2 3.4 -0.5 -1.1 Europe Preliminary 1409.5 0.0 2.0373 words
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Article389 2015-10-21 11 Oct 20 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Oct15 *****.50 *****.50 9972.50 *****.00 *****4 *****0 Nov15 *****.00 *****.00 9922.50 *****.50 ***** ***** NIKKEI 225 INDEX FUTURES Dec15 *****.00 *****.00 *****.00 *****.00 ***** *****5 Mar16 *****.00 *****.00 *****.00 *****.00 7 732 MSCI TAIWAN389 words
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BANK RATES
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Article154 2015-10-21 11 Oct 20 $S Offer Bid 0vernight 0.05 0.03 1-month 0.875 0.750 2-months 0.9375 0.8125 3-months 1.00 0.875 Overnight mode: 0.18 US$ Offer Bid 7 days 0.22 0.12 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.80 0.60 12154 words
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Article61 2015-10-21 11 Oct 20 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.53 5-Year N*****0S 2.000 01-Jul-20 101.05 10-Year NX*****Z 2.375 01-Jun-25 99.75 99.90 99.85 15-Year NZ*****F 2.875 01-Sep-30 102.25 102.50 102.50 20-Year NZ*****V 3.375 01-Sep-33 109.45 30-Year NA*****N 2.750 01-Apr-4261 words
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AGRI METALS ENERGY
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Article193 2015-10-21 11 Oct-19 Price Net change change Last Trade Agricultural Oct-19 CBOT Soybeans (US cents/bu) 891.00 -7.25 -0.81% 13/11/2015 CBOT Soybean Oil (US cents/lb) 28.14 -0.46 -1.61% 14/12/2015 CBOT Wheat (US cents/bu) 485.75 -6.50 -1.32% 14/12/2015 Oct-19 LIFFE Cocoa (£/tonne) 2155.00 38.00 1.79% 14/12/2015 LIFFE Coffee (US$/tonne) 1582.00 -31.00 -1.92%193 words
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Article57 2015-10-21 11 Oct 20 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 15 2217.0 2262.0 2265.0 2217.0 355 6557 Dec 15 2238.0 2284.0 2285.0 2234.0 7827 ***** Jan 16 2270.0 2319.0 2320.0 2268.0 ***** ***** Feb 16 2300.0 2351.057 words
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Article1991 2015-10-21 12 Transaction date: Oct 20 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil 82 42 8Telecom Last Sale vol ('000) High Day Low 153 131.5 AIMSAMP Cap Reit 139 +0.5 45 139 138.5 1 8 882.2 34 18.6 AP1,991 words
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Article394 2015-10-21 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale vol ('000) High Day Low Div C'vr GrYld Net P/E MCap 35 50 32 t Atlantic Nav t 3Cnergy 45 5 t BlackGoldNatural 29.5 18 t CNMC Goldmine.............................21394 words
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Article122 2015-10-21 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1440 991 CIMBASEAN40 S$D 1175 0 1175 1175 vol 4258 2750 DBXT China50 US$ US3184 -3 1 3184 3175 8.8 High 472 226 DBXT MSBrazil US$ US256 256122 words
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Advertisement187 2015-10-21 8 Prof Tim Boatswain Chairman, TEG Board of Directors, former Pro-Vice Chancellor of III University of Huddersfield, I University of Bedfordshire glynd\ UNIVEi University of Sunderland TEG c'; Education is our business where students come first. Mi Master of Business Administration MBA (Accounting and Finance) MBA (Human Resource Management) MBA (International187 words
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Advertisement40 2015-10-21 8 21.10,12pm «awi!>*wm mmm (mm)) mv f-sS 0S SCAN WATCH NOW more @showbiz.otny.sg W T 7 m n ■M SNIFF OUT GOOD DEALS AT AUCTIONS Check out information on auctions in The Straits Times Notices. THE STR AITS T IMES NOTICES40 words
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Advertisement383 2015-10-21 9 Kwek Leng Beng Awarded The Prestigious Lifetime Achievement Award By HICAP For over 25 years, Hotel Investment Conference Asia Pacific (HICAP) has been the unequalled gathering place for Asia-Pacific’s who’s who of the hotel community. Each year, the accomplishments and contributions of outstanding hoteliers in the Asia Pacific region and383 words
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Advertisement71 2015-10-21 12 SGX== Access the world Capture opportunities in global stock markets with Exchange Traded Funds. Find out more at sgx.com/etf Singapore Exchange This advertisement has been published for general circulation only. It is notUT! offertir solicitation to buy or sell,*or financial advice or recommendation In relation, to any nvestment product. Advice71 words
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Article, Illustration1432 2015-10-21 13 A Special Feature Brought to You By Singapore Management University Using checklists might cause auditors to miss key risk factors, asserts SMU Associate Professor of Accounting Seow Poh Sun WHEN deciding whether to give a firm a clean bill of health, auditors usually go1,432 words
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Advertisement201 2015-10-21 13 SMU MASTER OF PROFESSIONAL ACCOUNTING Opens Up a World of Opportunity Accounting is the language of business. Anyone seeking career advancement and professional growth will benefit from the SMU Master of Professional Accounting (MPA). Designed to develop your technical accounting competencies and business skills, the programme provides a technical grounding201 words
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REAL ESTATE
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Article, Illustration879 2015-10-21 14 Private equity firm, working with Canadian investor ivanhoe Cambridge Inc, will pay about US$5.3b for the 32 hectare enclave BLOOMBERG New York BLACKSTONE Group LP reached an agreement to buy New York’s Stuyvesant Town-Peter Cooper Village, a deal that would put Manhattan’s biggest apartmentBLOOMBERG; PHOTO: BLOOMBERG - 879 words
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534 2015-10-21 14 Tycoon is turning housing projects across country into self-contained communities BLOOMBERG Manila PHILIPPINE billionaire Manuel Villar, who made a fortune building affordable homes, is considering merging his residential and shopping mall units as he turns housing projects across the country intoBLOOMBERG - 534 words
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238 2015-10-21 14 REUTERS New York LARGE purchases of farmland can at times be cloaked in secrecy, but a new online database is aiming to shed light on such deals globally by publishing contracts between governments and investors, according to its organisers. OpenLandContracts.org, based at Columbia UniversityREUTERS - 238 words
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358 2015-10-21 14 BLOOMBERG Sydney SYDNEY’S surging housing market may be cooling with the proportion of home auctions that successfully found a buyer last week falling to the lowest level in 10 months. Sydney’s auction clearance rate, a gauge of housing demand in Australia’s largestBLOOMBERG - 358 words
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Advertisement72 2015-10-21 14 ITSHOW 2016 10-13 March 2016 SUNTEC Singapore Levels 3,4&6 L3,11am-9pm L4 L6, 12-9pm itshow.sg fb.com/ComexITShow NOW! Singapore’s LARGEST I.T. consumer electronics exhibition. Thousands of consumers will be there to buy your tech products services! Beverage Fair, COM EX, World Book Your Space NOW! *Limited Booths Available Call *****620 or email72 words
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Advertisement167 2015-10-21 14 Supermarket Space within Shopping Malls For Sale By Expressions of Interest City Gate key junction of Beach Road Kensington Square fronting Upper Paya Lebar Road Anchor tenant space on level 2 with direct link to Nicoll Highway MRT 30-storey mixed development with 131 residential and 188 retail units Prominent wide167 words
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BANKING & FINANCE
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Article, Illustration812 2015-10-21 15 Lenders are struggling to adapt to rising capital requirements, record-low interest rates BLOOMBERG Frankfurt EUROPE’S last global banks are caving in to pressure from regulators and preparing to tell investors just how much their aspirations will shrink. “The European banksBLOOMBERG; PHOTO: BLOOMBERG - 812 words
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238 2015-10-21 15 REUTERS Sydney AUSTRALIA on Tuesday accepted most key recommendations of a gov-ernment-backed inquiry which called for more competition and stronger capital reserves for the country’s four major banks as well as reforming the US$1.2 trillion superannuation system. The review, chaired by formerREUTERS - 238 words
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492 2015-10-21 15 REUTERS New York MORGAN Stanley’s multiyear effort to build up its wealth management arm’s lending business began to pay off on Monday as the unit emerged as one of the few bright spots in the bank’s generally bleak quarterly earnings. The New York-based bank saidREUTERS - 492 words
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Article, Illustration372 2015-10-21 15 Antony Currie - REUTERS BREAKINGVIEWS By Antony Currie REUTERS New York MORGAN Stanley’s latest quarterly earnings cast doubt on chief executive James Gorman’s low-risk strategy. The bank earned US$740 million in the three months to September, after stripping out accounting gains on its own liabilities.REUTERS - 372 words
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516 2015-10-21 15 BLOOMBERG Shanghai THE People’s Bank of China is helping cement London’s dominance of yuan trading in Europe by conducting its first ever overseas debt sale in the city, a move timed to coincide with a state visit by PresidentBLOOMBERG - 516 words
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Advertisement102 2015-10-21 15 5v gnts 4^ V' t' Szechuan Court Sizzles with New Menu Discover the rich and intricate art of Chinese cooking with Master Chef Mok Wan Lok's new menu. Featuring a multitude of cooking techniques and a commitment to preservation of tradition balanced with thoughtful innovation, Chef Mok presents a harmony102 words
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ENERGY & COMMODITIES
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Article, Illustration741 2015-10-21 16 Producers such as Total, Shell and BP are getting “buy” ratings as they cut spending, reduce output to ride out the downturn BLOOMBERG London ENERGY companies are finally starting to come back into favour. After enduring the longest oil-price collapse in more thanBLOOMBERG; PHOTO: BLOOMBERG - 741 words
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431 2015-10-21 16 Govt is pushing mills to export more sugar and clear cane arrears to farmers REUTERS Mumbai INDIAN mills have contracted exports of almost 100,000 tonnes of home-grown white sugar, but will likely struggle to meet an ambitious government target,REUTERS - 431 words
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233 2015-10-21 16 REUTERS Vienna NEW liquidity rules for banks in the European Union could raise costs for those trading gold by up to 300 per cent, forcing them to withdraw from the market, the head of the London Bullion Association (LBMA) said.REUTERS - 233 words
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Advertisement1366 2015-10-21 16 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE ADM No. 47 of 2014 Between 1. SINDO DAMAI SHIPPING PTE LTD (Singapore UEN *****4756W) 2. SEA-HAWK FREIGHT PTE LTD (Singapore UEN *****2192K) ...Plaintiffs And 1. WAN HAI LINES (SINGAPORE) PTE LTD1,366 words
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TECHNOLOGY
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489 2015-10-21 17 Starburst, which plans to open S’pore office, ties up with firms such as Boeing and Raytheon to organise events where startups present products REUTERS Washington BUSINESS development company Starburst Accelerator, which calls itself the world’s largest incubator for aerospaceREUTERS - 489 words
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Article, Illustration644 2015-10-21 17 REUTERS Bengaluru, India INTERNATIONAL Business Machines Corp (IBM) posted a bigger-than-ex-pected drop in revenue and cut its full-year profit forecast, as a stronger US dollar accentuated weakness in demand from China and emerging markets. It was the 14th quarter in aREUTERS; PHOTO: BLOOMBERG - 644 words
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328 2015-10-21 17 WP Washington EARLIER this month the European Union’s top court struck down a major trade agreement that thousands of companies use to transfer Europeans’ personal data to the United States, ruling that it violates the privacy rights of EuropeansWP - 328 words
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Advertisement851 2015-10-21 17 On the 22/6/2015 Amstel Exploitatie BV filed before the District Court of Limassol in Cyprus, a claim with number 2332/2015 against 1. Dag Dvergsten 2. Arnold Rorholt 3. Vikram Walia4. Treatmil Holdings Ltd 5. Dag Dvergsten AS 6. Lifex Holdings Ltd 7. Teras Conquest 3 Pte Ltd 8. Fetch Marine851 words
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Advertisement70 2015-10-21 17 CALL FOR NOMINATIONS SINGAPOREAN OFTHEYEAR2015 Do you know someone or a group whose inspiring or extraordinary acts have made the local community a better place? The Straits Times Singaporean Of The Year Award, in partnership with UBS, seeks to honour the positive impact made by this person or group and70 words
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CONSUMER
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Article, Illustration420 2015-10-21 18 NYT New York AT first glance, Miguel Díez Ferreira would seem to make an ideal customer for Netflix. Mr Díez Ferreira, 44, got hooked on House of Cards, the popular political drama starring Kevin Spacey, while living in Miami and San Francisco. AfterNYT; FILE PHOTO - 420 words
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410 2015-10-21 18 Jacquelyn Cheok - The Singapore company, which launched in HK recently, plans to use the funds for further Asia expansion By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore HONESTBEE, a homegrown on-de-mand grocery delivery startup, has bagged US$ 15 million in Series A funding led by Silicon Valley-based410 words
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Article, Illustration535 2015-10-21 18 BLOOMBERG Zurich A BIGGER threat than smartwatches is no watches at all, according to Omega president Stephen Urquhart. The maker of luxury watches some tied to the James Bond movie franchise that sell on average for more than US$6,000 is trying toBLOOMBERG; PHOTO: BLOOMBERG - 535 words
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Advertisement70 2015-10-21 18 A CA R FO R E V E RY PUR SE PURP OSE 7 AND 8 NOVEMBER 201 5 SATURDAY SUNDAY 10AM 8PM SINGAPORE EXPO HALL 5 ADMI SS I O N I S FREE IT’S TIME TO BUY A NEW CAR “Presenting the best offers from all your favourite70 words
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GOVERNMENT & ECONOMY
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Article, Illustration604 2015-10-21 19 AFP Jakarta INDONESIAN President Joko Widodo took office last year on the hopes that an outsider and “man of the people” would swiftly usher in a new era of cleaner, more effective governance. Twelve months on, critics said that those hopes have comeAFP - 604 words
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680 2015-10-21 19 ECB president might consider taking this finding from Denmark: negative rates don’t provide a quick fix BLOOMBERG Frankfurt UNTIL not so long ago, the idea of sub-zero interest rates was about as far-fetched as the prospect of a brashBLOOMBERG - 680 words
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Article, Illustration895 2015-10-21 19 Jeff Hutton - By Jeff Hutton btworlx@sph.com.sg Jakarta IN THE village of Berengbengkel, about 20 km from the capital of the province of Central Kalimantan of Palangkaraya, thick yellow smog blots out the sun, making midday seem more like dusk.PHOTO: REUTERS - 895 words
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411 2015-10-21 19 BLOOMBERG Beijing CHINA’S financial sector shrugged off a slumping stock market to underpin growth in the world’s second-largest economy last quarter. Financial services jumped 16.1 per cent in the three months through September from a year earlier, the National BureauBLOOMBERG - 411 words
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Advertisement737 2015-10-21 19 NOTICES INDIABULLS PROPERTIES INVESTMENT TRUST (a Business Trust constituted on 7 May 2008 under the laws of the Republic of Singapore) Managed by Indiabulls Property Management Trustee Pte. Ltd. (as Trustee-Manager of Indiabulls Properties Investment Trust) NOTICE OF BOOKS CLOSURE DISTRIBUTION PAYMENT DATE NOTICE IS HEREBY GIVEN that the Transfer737 words
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TRANSPORT
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718 2015-10-21 20 Samuel Ee - Total number of new passenger cars on S’pore roads in first nine months nearly double that from a year ago By Samuel Ee samuelee@sph.com.sg Singapore THANKS to the expanding supply of COEs, the total number of new passenger cars on the718 words
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Article, Illustration683 2015-10-21 20 BLOOMBERG Bangkok BANGKOK Mass Transit System Pcl, the operator of the Thai capital’s elevated railway network, has opened bidding to buy as many as 43 trains valued at 10 billion baht (S$392 million) for its current routeBLOOMBERG; PHOTO: BLOOMBERG - 683 words
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679 2015-10-21 20 BLOOMBERG Frankfurt FACED with billions of euros in costs for its emissions cheating scandal, Volkswagen AG (VW) may have to consider an overhaul of a 12-brand empire built in the last two decades that makes everything from cheap cars to motorbikesBLOOMBERG - 679 words
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452 2015-10-21 21 Appointment comes four days after CEO Oscar Munoz suffers heart attack REUTERS Seattle UNITED Continental Holdings Inc on Monday said it appointed an interim leader four days after chief executive officer Oscar Munoz suffered a heart attack, raising uncertainty about whether itsREUTERS - 452 words
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953 2015-10-21 21 DAVID HUGHES - Its senior official Johan Roos says the body is working with EU officials to come to ‘realistic solutions’ to controlling emissions STRAIT TALK By DAVID HUGHES THESE days, it is vital to be represented in the corridors of power, nationally, regionally953 words
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Article, Illustration647 2015-10-21 21 REUTERS Washington US regulators said on Monday that they could expand their investigation into Takata Corp air bag inflators beyond 11 carmakers, as questions arose about whether vehicle design played a role in the devices posing a deadly risk to the public. NationalREUTERS; PHOTO: BLOOMBERG - 647 words
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Article2093 2015-10-21 24 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR DEL SOL 030 40 122 28/10 29/10 2/11 PRECIOUS CORAL 001 60 28/10 30/11 3/11 5/112,093 words
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Advertisement59 2015-10-21 20 ROYAL CARIBBEAN' PRESENTS ■IOSS92j r T{ jn yss N OVj Celebrate love at sea with your loved ones on board the Mariner of the Seas! 2 incredible 9-Night cruises for 2, to Ho Chi Minh City, Hong Kong, Xiamen, and Shanghai to celebrate your Honeymoon or Anniversary! ¥> K3facebook.com/kiss92fm #/059 words
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Advertisement16 2015-10-21 20 VISIT WWW.STCARS.SG NOW! Buy, sell or rent. At www.STCars.sg, your ideal car isn’t hard to find.16 words
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Advertisement28 2015-10-21 20 Capitalize opportunities in the market using CFDs regardless of bull or bear market Open a new CFD trading account and enjoy 50% commission rebate* *Terms and conditions apply28 words
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Page 21 Advertisements
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Advertisement17 2015-10-21 21 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices17 words
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Advertisement610 2015-10-21 21 Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED 30 SEPTEMBER 2015 The Directors of Keppel Telecommunications Transportation Ltd advise the following unaudited results of the Group for the third quarter and nine months610 words
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OPINION
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523 2015-10-21 22 EDITORIAL THERE are just a little over ten weeks to go before Asean, or the Association of Southeast Asian Nations, reaches a historical milestone on Dec 31. That is the day when the Asean Economic Community (AEC) is officially inaugurated,523 words
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Article, Illustration840 2015-10-21 22 Frank Ching - THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE Kuomintang (KMT), Taiwan’s ruling party, fearful of a disastrous outcome at presidential and legislative elections in January, finally took840 words
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Article, Illustration1563 2015-10-21 22 MICHAEL STÜRMER - She extended an invitation to the waves of displaced peoples into her country, but her people are asking if there is a line in the sand, and support for her is slipping. BY MICHAEL STÜRMER BY MICHAEL STÜRMER T The writer is chief correspondentPHOTO: REUTERS - 1,563 words
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975 2015-10-21 23 Kemal Dervis - COMMENTARY By Kemal Dervis T The writer, former minister of economic affairs of Turkey and former administrator for the united Nations Development Programme, is a vice-president of the Brookings institution PROJECT SYNDICATE Washington, DC AT the recent annual meetings of the World Bank and thePROJECT SYNDICATE - 975 words
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786 2015-10-21 23 David Marsh - By David Marsh T The writer is managing director of the Official Monetary and Financial institutions Forum DAVID Cameron, the UK prime minister, who hosts Chinese President Xi Jinping in Britain this week, has become the Cinderella of Beijing’s up-and-down relationships with the786 words
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303 2015-10-21 23 Tan Lye Huat - LETTER TO THE EDITOR Tan Lye Huat Chartered director fellow (FIoD) I REFER to the commentary “Enforcing the comply or explain requirement” by Professor Mak Yuen Teen (BT, Oct 20) and, as much as I had been greatly disappointed with the lack of clarity303 words
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Article, Illustration1336 2015-10-21 23 LEON HADAR - She may have to transform herself once again after the Democratic primaries into a centrist politician to win over the general electorate. BY LEON HADAR BY LEON HADAR IT is close to being official in the aftermath of the first Democratic presidential1,336 words
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Advertisement96 2015-10-21 24 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times SHIPPING TIMES Make A Splash In The Maritime World Via s|£i3hnaritime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime industry, log on to SPHMaritime.com for a sea96 words
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LIFE & CULTURE
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Article, Illustration509 2015-10-21 25 Lee U-Wen - Only five of the eight berths have been confirmed; the draw ceremony, open to the public, takes place this Friday By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THERE are just four days to go until the first match of the BNP Paribas Women’s Tennis AssociationPHOTO: AFP - 509 words
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605 2015-10-21 25 AFP Zurich FIFA’s executive committee were gathering on Tuesday as acting president Issa Hayatou attempts to steer football’s embattled governing body through the latest storm of scandals to blight their Zurich headquarters. The extraordinary meeting was announced on Oct 9 after Fifa’s ethicsAFP - 605 words
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Article, Illustration735 2015-10-21 25 BLOOMBERG New York HEADPHONES at work are more than just a universal “Do Not Disturb” sign: They’re a must-have accessory for those squeezing as much productivity as possible out of the day. An extensive body of research shows what headphone wearersBLOOMBERG; PHOTO: BLOOMBERG - 735 words
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Advertisement116 2015-10-21 25 Win WTA Finals tickets! two players who will be competing at the 2015 BNP Paribas WTA Finals presented by SC Global. E-mail your answer, together with your full name and contact details to btnews@sph.com.sg by 6pm on Wednesday. Indicate “WTA Finals contest” in the subject heading. Three winners selected at116 words
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Page 25 Miscellaneous
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Miscellaneous310 2015-10-21 25 CRYPTIC CROSSWORD Across 1 Sit and canoodle, forming bond together (11) 9 Such trees are barely recognisable in winter (9) 10 Indeed, all the odd bits will be perfect (5) 11 High-spirited child? (6) 12 A fashion editor’s heavenly body (8) 13 Deposit covers new bid that’s reserved (4,2) 15310 words
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EXECUTIVE MONEY
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Article, Illustration952 2015-10-21 26 Restricted access to corporate financial information can hinder trading, analysts note BLOOMBERG London INVESTORS are campaigning for private companies to make their financial information more available in a push for greater transparency in Europe’s growing high-yield bond market. The Association for Financial MarketsBLOOMBERG; PHOTO: BLOOMBERG - 952 words
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467 2015-10-21 26 ON THE RADAR GLOBAL mutual funds continued to sell more Singapore stocks than they bought in the three months to Oct 14. Based on transactions on the top five stocks, net sells came to S$ 1.01 billion compared to net buys467 words
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Article, Illustration885 2015-10-21 26 Stonecastle CDO is backed by subordinated debt from small community banks BLOOMBERG New York JOSHUA Siegel is bringing back one of the most toxic financial vehicles ever devised and arguing that this time, it is going to be different. His StoneCastle FinancialBLOOMBERG - 885 words
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Article, Illustration1227 2015-10-21 27 Joachim Fels - While there are reasons to expect less bang for each QE buck than in previous episodes, the returns should still be positive MONEY MATTERS By Joachim Fels T The writer is managing director and global economic adviser, Pimco THE existence of a global money glutPHOTO: BLOOMBERG - 1,227 words
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Advertisement594 2015-10-21 27 Your Gateway To Effective Personal Branding, Selling and Higher Workplace Productivity Who should attend: Senior and Middle Management, Supervisors, Business Owners, Marketing Managers and Advertising Executives FULL-DAY WORKSHOPS Buzan Mind Mapping For Higher Workplace Productivity Productivityand Innovation Credit (PIC) Claimable 2015 OCTOBER SERIES O C T 1 5 28WEDNESDAY SPH594 words
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