The Business Times, 8 March 2016
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2016-03-08
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The Business Times
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Title Section22 2016-03-08 1 THE BUSINESS TIMES S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes CO REGN NO *****2868E MCI (P) 039/08/2015 Tuesday, March 8, 201622 words
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Article, Illustration212 2016-03-08 1 Financial markets expect the European Central Bank to widen negative interest rates by at least 0.1 of a percentage point more from the current -0.3 per cent. TOP STORIES 2 Liquidation of Dolphin Geophysical Pte Ltd commences and preliminary signs are that the proceeds may fall far short212 words
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Article, Illustration1118 2016-03-08 1 Cai Haoxiang - S$1.32-a-share bid for remaining 30.75% stake values lifestyle products group at S$978.9 million By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AS OSIM International’s share price plunged over the past year, privatisation looked more and more attractive to founder and chief executiveFILE PHOTO - 1,118 words
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Article, Illustration1102 2016-03-08 1 Mindy Tan - ASME chief flags the struggles of SMEs, which are mostly in traditional trades and may go out of business amid push to transform the economy By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE president of the Association of Small and Medium Enterprises (ASME) has warned thatFILE PHOTO - 1,102 words
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Article27 2016-03-08 1 Monday Change STI 2,823.51 -13.49 KL COMP 1,697.93 +5.44 NIKKEI 225 16,911.32 -103.46 HANG SENG 20,159.72 -16.98 SHENZHEN B 1,122.61 +4.83 Dow (10.45 EST) 17,022.93 +16.1627 words
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Page 1 Advertisements
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Advertisement60 2016-03-08 1 *****1 *****1 SINGAPORE ECONOMY How S’pore has grown from a policy perspective OPINION 21 y > 1 h a *3 A «Details make perfection, and perfection is not a detail Leonardo da Vinci B V LG A R I ROMA OCTO r rr C' AW OAK BVI i ssu «Details60 words
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Advertisement25 2016-03-08 1 SINGAPORE BUDGET 2016 Keeping powder dry for off-budget measures TOP STORIES 4 SEEKING GROWTH Malaysia-based Axcelasia moving fast into other Asean countries companies markets 625 words
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Advertisement26 2016-03-08 1 Commentary: For Ron Sim, a listing has lost its draw, Page 5 Hock Lock Siew: Where’s the follow-up to SGX queries on trading activity? Page 526 words
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TOP STORIES
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Article, Illustration833 2016-03-08 2 Neil Behrmann - The ECB chief is expected to widen negative rates, but negative rates have dented bank profitability and may dampen stockmarket sentiment and business confidence By Neil Behrmann btworld@sph.com.sg London THE markets expect the European Central Bank (ECB) to widenPHOTO: AFP - 833 words
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Article, Illustration151 2016-03-08 2 BT Infographics WHAT IT SELLS OSIM operates in 23 countries around the world. Flagship OSIM outlets, accounting for about 60% of revenue, sell massage chairs at the S$2,500 (uDiva Classic), S$5,000 (uMagic), and S$8,000 (uInfinity Luxe) price points, as well as smaller handheld massagers. GNC/RichLife outlets sell nutritional supplementsCompiled by Cai Haoxiang from Bloomberg, news reports, financial statements BT Graphics: Ludwig Ilio - 151 words
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626 2016-03-08 3 Tan Hwee Hwee - Appointment of liquidators for Singapore unit comes over two months after Norway parent filed for bankruptcy By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore The liquidation of Singapore-based Dolphin Geophysical Pte Ltd has commenced and the preliminary signs are the proceeds may fall far short of the626 words
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701 2016-03-08 4 Kenneth Lim - Past actions show government would introduce one-off package if economy is clearly headed for contraction SINGAPORE BUDGET 2016 By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore FOR all the attention that the coming Budget statement is getting, it is the off-budget measure that sometimes carries701 words
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Article, Illustration465 2016-03-08 4 KENNETH LIM - The expected economic slowdown will probably hit revenues for the 2016 Singapore Budget. But increased contributions from invested reserves and the possibility of off-budget measures will give the Singapore government room to manoeuvre if a recession occurs. By KENNETH LIM BT Infographics By KENNETH LIMDATA: 2015 Budget statement, Denartment of Statistics, Ministry of Finance, Ministry of Trade and Industry; BT Graphics:Ludwig Tho - 465 words
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368 2016-03-08 4 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore Singapore SINGAPORE may have leapt from Third World to First in a single generation, but businesses now face a more complex, uncertain landscape. How can they restructure and respond? How does Singapore’s near and368 words
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Article, Illustration328 2016-03-08 4 VIVIEN SHIAO - Singapore stocks face one of their toughest years with the Pan-El crisis, negative growth and a turbulent take-off for SIA. BY VIVIEN SHIAO years BY VIVIEN SHIAO he collapse of Pan-Elec-tric Industries is arguably one of the most important events in the history ofBT Graphics: Lynette Neo - 328 words
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Page 2 Advertisements
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Advertisement149 2016-03-08 2 12 -15 April 2016 Tuesday Friday Singapore Expo ASIA’S LEADING AND MOST COMPREHENSIVE INTERNATIONAL FOOD AND HOSPITALITY TRADE SHOW IS HERE! tamirna Find us: Food&HotelAsia 97,OOOsqm of exhibition space 3,000 exhibitors from 70 countries/regions 60 international group pavilions New group pavilions from Algeria, Czech Republic, France, Hungary, Korea, Morocco, Poland149 words
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Advertisement17 2016-03-08 2 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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Page 3 Advertisements
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Advertisement65 2016-03-08 3 PRESIDENT'S AWARD FOR THE ENVIRONMENT Nominate exceptional individuals educational institutions and organisations that have made an impact towards a sustainable Singapore. Nominations close on 4 April 2016 For more information log on to: www.mewr.gov.sg/presidentsaward The President's Award for the Environment (PAE) is the highest environmental accolade that recognises outstanding contributions65 words
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Page 4 Advertisements
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Advertisement28 2016-03-08 4 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 998828 words
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Advertisement50 2016-03-08 4 The Business Times has been there to report and analyse the most significant news since 1976. Every week, this feature will showcase excerpts from the biggest stories for each year that the paper has been in operation. The full text of all the stories can be found online at bt.sg/bt_4050 words
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COMPANIES & MARKETS
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Article, Illustration886 2016-03-08 5 Wong Wei Kong - There’s the sense that he is chafing at the increasing burden of being a listed entity PRIVATISING OSIM COMMENTARY By Wong Wei Kong weikong@sph.com.sg @WongWeiKongBT RON Sim, a vocal critic of some of the Singapore Exchange’s rules and practices, will finally886 words
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699 2016-03-08 5 R SIVANITHY - HOCK LOCK SIEW BY R SIVANITHY sivan@sph.com.sg @RSivanithyBT THE sudden rise in the share price of healthy-lifestyle firm OSIM International in the days before it announced a privatisation offer illustrates one of the most troubling governance lapses in the local stock699 words
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Article, Illustration691 2016-03-08 6 Anita Gabriel - Strategic alliances or mergers acquisitions not ruled out as business consultancy firm seeks fast growth By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THERE may be very little that’s not dull about a company that offers tax advisory, consultancy and business support such as691 words
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Article, Illustration562 2016-03-08 6 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore OUE Hospitality Trust (OUE H-Trust) is carrying out an underwritten rights issue to raise S$238.6 million in gross proceeds to fund the purchase of the Crowne Plaza Changi Airport hotel extension. OUE H-Trust is562 words
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395 2016-03-08 6 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore BOOSTED by higher revenue, better margin and a fall in other losses, structural steel specialist TTJ Holdings reported a 40 per cent year-on-year increase in second-quarter net profit to S$5.41 million. The quarter ended395 words
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293 2016-03-08 6 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore MAINBOARD-LISTED retailer Courts Asia will issue S$75 million of notes, upsized from an initial target size of S$50 million, at a fixed rate of 5.75 per cent per year. Payable semi-annually and in arrear,293 words
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418 2016-03-08 7 Grace So - Asset manager’s survey finds they invest less than men, and when they do invest, they do so conservatively By Grace So graceso@sph.com.sg Singapore TODAY’S women can be as financially savvy as men, but Singapore women still lack confidence in their418 words
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489 2016-03-08 7 Jacquelyn Cheok - By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore MEDIA and telecommunications titans SPH (Singapore Press Holdings) and StarHub have signed a memorandum of understanding (MOU) to collaborate and innovate in areas of content creation, data analytics, marketing and advertising sales. The partnership will489 words
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311 2016-03-08 7 R Sivanithy - By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE International Chamber of Commerce (ICC) Academy will celebrate its first year of operation by hosting the 4th annual supply chain financing (SCF) summit on March 9-10. To be held at Maxwell Chambers in Maxwell311 words
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Article, Illustration63 2016-03-08 8 STI Catalist Straits Times Index March 7,2016 2,823.51 -13.49 (-0.48%) Current streak 1 day Day high 2,850.52 Day low 2,809.72 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index March 7,2016 473.21 +11.86 (+2.57%) Current streak 7 days Day high 473.79 Day low63 words
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Article78 2016-03-08 8 BY CENTS CLOSE UP 52w high/low DBXT Nifty50 ETF10 ***** 290.1 1.9 *****/***** Lyxor Indonesia US$ 8154 222.4 2.0 9094/6250 Lyxor LATAM US$ 433 128.5 27.4 577/340 Lyxor US DJIA US$ 1710 60.8 2.6 1859/1573 DBXT MSJAP US$ 4651 48.4 0.8 5277/4031 BY PERCENTAGE CLOSE UP 52w high/low TechOil&Gas78 words
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Article74 2016-03-08 8 BY CENTS CLOSE DOWN 52w high/low JMH USD 5440 -288.8 -3.7 6598/4500 JSH USD 2912 -125.7 -3.0 3578/2524 Jardine C&C 3877 -78.0 -2.0 4258/2636 GLD US$ ***** -34.5 -0.2 *****/***** DBS Bk 4.7% NCPS ***** -20.0 -0.2 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low NobleGrpMBeCW*****1 0.4 -55.6 -0.5 6.1/0.474 words
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Article78 2016-03-08 8 VOL CLOSE($) CHANGE Soon Lian 0.100 M Development 718.0 0.004 +0.001 +33.33 Serrano 80.4 0.049 +0.006 +13.95 Chinese Global 6,236.0 0.025 -0.001 -3.85 Europtronic 2,600.3 0.005 +0.001 +25.00 Lion Asiapac 0.290 Charisma Energy 71,743.7 0.015 +0.001 +7.14 Magnus Energy 4,777.2 0.004 +0.001 +33.33 Tech Oil & Gas 46,520.778 words
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Article, Illustration630 2016-03-08 8 R Sivanithy - 13-point drop comes after cumulative gains of 234 points; many offshore marine stocks see big percentage hikes in high volume STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times Index (STI), after having risen over six consecutive days during which itSource: Bloomberg - 630 words
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Article313 2016-03-08 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 239 -5 243/238 271 209 6.1 6277.9 CapitaLand 313 -4 318/311 379 267 12.5 2.9 *****.4 CapitaMall Trust 213 -4 217/212 228 184.5 5.3 7404 CityDev 770 cd +10 774/762 1095 661313 words
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Article, Illustration36 2016-03-08 8 ST I/ FTSE ST All-share ftse ST All-Share index March 7,2016 689.57 -4.33 (-0.62%) Current streak 1 day Day high 695.90 Day low 688.02 52-week high 847.98 (Apr 15, 2015) 52-week low 625.37 (Jan 21, 2016)36 words
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Article, Illustration33 2016-03-08 8 STI MSCI EAFE MSCI EAFE Index March 4,2016 1,628.83 +17.13 (+1.06%) Current streak 7 days Day high 1,630.83 Day low 1,610.76 52-week high 1,949.49 (May 15, 2015) 52-week low 1,492.43 (Feb 12, 2016)33 words
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Article35 2016-03-08 8 VOLUME Ezra 332,089,900 Noble 212,658,000 Vallianz 115,951,000 Rex Intl 113,587,100 Loyz Energy 105,801,600 Market volume 2,973,561,000 VALUE DBS Grp 136,923,344 Noble 94,189,942 Singtel 76,985,610 OCBC Bank 72,136,626 Keppel Corp 70,010,107 Market value 1,547,607,00035 words
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Article105 2016-03-08 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 283 -1 508 286/281 355/254 283/284 IS MS INDIA US$ US641 +6 92 645/641 827/575 639/644 80.1 Lyxor Taiwan US104.1 +4.3 84 104.6/104.1 128.5/90 -/-24.8 DBXT MSBrazil US$ US271 +12 68 273/271 399/190 270/271105 words
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Article77 2016-03-08 8 Mar 7 VALUE CLOSE BT OB/OS 482.00 -7.00 BT CADI -*****.00 +87.00 BT 10-day MA -*****.00 +48.00 FTSE ST Mid Cap 679.36 +0.48 FTSE ST Small Cap 398.07 +3.11 FTSE ST All Share 689.57 -4.33 FTSE ST China Top 162.04 +0.55 FTSE ST China 192.28 -0.32 FTSE77 words
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Article186 2016-03-08 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 4 1 1 0 0 10 4 1 Manufacturing 48 38 22 13 5 11 61 43 33 Commerce 26 12 13 7 1 5 33 13 18 Tpt/Stor/Comms 15 17 4186 words
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Article119 2016-03-08 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 34,486 952 35,438 119,102 210 119,312 Manufacturing 383,177 71,580 454,757 176,885 2,589 179,474 Commerce 251,396 249,502 500,898 214,369 12,098 226,466 Tpt/Stor/Comms 522,680 765 523,445 243,577 63 243,639 Finance 84,172 84,172 283,476 283,476 Construction 25,088 71,798119 words
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BROKERS’ TAKE
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Article169 2016-03-08 8 Frasers Centrepoint Trust Buy Target price: S$2.11 March 7 close: S$1.93 DBS Group Research, March 7 WE remain excited about the planned asset enhancement initiative (AEI) and integration of the Northpoint asset with the extension wing currently built by the sponsor. With an enlarged footprint, we see Northpoint as a169 words
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Article139 2016-03-08 8 Hongkong Land Sell Target price: US$4.86 March 7 close: US$6.00 Deutsche Bank Research, March 7 WHILE the performance of the Hong Kong Grade-A office market has been resilient so far against falling prices/rents in retail/residential, we expect the office market to soften alongside a weakening economy and an upcoming supply139 words
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Article162 2016-03-08 8 Kenneth Lim - Hotel Properties Buy Compiled by Kenneth Lim Target price: S$4.83 March 3 close: S$3.55 OCBC Investment Research, March 7 WHILE management expects the group’s hospitality results to remain fairly resilient given the strong branding and geographical diversification of their hotel portfolio, they anticipate challenging conditions ahead given stiff competition, uncertainties162 words
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393 2016-03-08 9 CURRENCIES REUTERS London THE euro fell by around half a per cent at the start of the run-in to a European Central Bank meeting on Thursday widely expected to ease monetary policy further to help shore up still shaky eurozone growth. The ECB is expectedREUTERS - 393 words
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FOREX RATES
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Article471 2016-03-08 9 Mar 7 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.989 4.827 0.675 5.755 49.707 96.848 0.842 8.915 3.033 1.095 77.593 34.761 1.024 11.380 0.738 24.264 26.252 0.522 0.741 Canada 1.011 4.882471 words
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Article155 2016-03-08 9 Mar 7 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0235 1.0238 0.7408 0.7409 Canadian dollar 1.0352 1.0355 0.7494 0.7493 Euro 1.5159 1.5162 1.0972 1.0973 NZ dollar 0.9349 0.9352 0.6767 0.6768 Sterling pound 1.9588 1.9597 1.4178 1.4182155 words
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Article22 2016-03-08 9 Mar 7 S$ Bid Offer 1-month 1.3822 1.3827 2-months 1.3829 1.3836 3-months 1.3839 1.3848 6-months 1.3867 1.3874 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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Article395 2016-03-08 9 Mar 7 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Mar16 9370.00 9520.00 9275.00 9330.00 *****0 *****9 Apr16 9270.00 9422.50 9195.00 9260.00 2411 2721 NIKKEI 225 INDEX FUTURES Mar16 *****.00 *****.00 *****.00 *****.00 *****7 *****1 Jun16 *****.00 *****.00 *****.00 *****.00 ***** ***** MSCI TAIWAN395 words
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214 2016-03-08 9 Most active Mar 7 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****9 0.2 0.1 ***** 1 1 100 3.00 56 Rowsley Ltd W*****3 1.5 0.2 ***** 1 18 7 DBS MB eCW*****1 14.1 0.5 7075 0.1214 words
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377 2016-03-08 9 In local curr In S$ In US$ dy yr dy yr dy yr Mar 4 Index Change Change Change Change Change Change World Preliminary 1228.8 0.5 -3.8 -0.3 -6.2 0.7 -3.2 EAFE Preliminary 949.8 0.7 -6.3 0.1 -8.0 1.1 -5.1 Europe Preliminary 1344.1 0.9 -4.9377 words
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BANK RATES
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Article154 2016-03-08 9 Mar 7 $S Offer Bid 0vernight 0.10 0.03 1-month 1.125 1.000 2-months 1.1875 1.0625 3-months 1.2500 1.1250 Overnight mode: 0.1875 US$ Offer Bid 7 days 0.45 0.35 1 month 0.48 0.38 2 months 0.65 0.45 3 months 0.75 0.55 6 months 1.00 0.80 9 months 1.20 1.00 12154 words
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Article67 2016-03-08 9 Mar 7 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.56 5-Year NX*****X 2.250 01-Jun-21 102.35 102.45 102.40 10-Year NX*****Z 2.375 01-Jun-25 101.87 101.99 101.90 15-Year NZ*****F 2.875 01-Sep-30 103.81 104.05 103.55 20-Year NZ*****V 3.375 01-Sep-33 110.35 110.40 110.2067 words
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AGRI METALS ENERGY
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Article250 2016-03-08 9 Mar-4 Price Net change change Last Trade Agricultural Mar-4 CBOT Soybeans (US cents/bu) 870.50 14.25 1.66% 14/03/2016 CBOT Soybean Oil (US cents/lb) 30.73 0.32 1.05% 14/03/2016 CBOT Wheat (US cents/bu) 454.75 1.50 0.33% 14/03/2016 Mar-4 LIFFE Cocoa (£/tonne) 2216.00 31.00 1.42% 14/03/2016 LIFFE Coffee (US$/tonne) 1363.00 -3.00 -0.22%250 words
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Article1784 2016-03-08 10 Transaction date: Mar 7 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Last Vol Day Div GrYld 153 127 AIMSAMP Cap Reit 134.5 -2 520 137 134.5 1 8.2 854.6 MCap 175.5 101 ARA Asset Mgmt 115cd unch1,784 words
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Article316 2016-03-08 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale vol ('000) 1 0.3 t Advanced Systems 0.3 unch 166 0.3 0.3 7.9 Day Low 17.6 4.5 t Alliance Mineral 10.5 +1.2 ***** 10.7 9.3 41.4 C'vr GrYld316 words
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Article97 2016-03-08 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1039 700 CIMBASEAN40 US$ US847 +5 5 847 847 132.8 4258 2355 DBXT China50 US$ US2687 +15 6 2710 2685 7.4 399 190 DBXT MSBrazil US$ US271 +1297 words
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Page 5 Advertisements
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Advertisement456 2016-03-08 5 I r* Budget Seminar 2016 Thursday, 7 April 2016 9:00 a.m. to 5:30 p.m. (Registration begins at 8:30 a.m.) Raffles City Convention Centre Fairmont Ballroom, Level 4 80 Bras Basah Road Singapore *****0 Achieving competitive growth in an uncertain economy is the new business reality today. How will the Singapore456 words
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Page 6 Advertisements
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Advertisement200 2016-03-08 6 $53.50 Value.able shares with us the right mindset which every investor should have and how we can identify the extraordinary businesses in the stock market. Most importantly, it teaches us the different valuation models for stocks valuation. By following the 3 simple steps mentioned in the book, investors are able200 words
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Advertisement65 2016-03-08 6 A people able to look facts squarely in the face, able to calculate the odds, to weigh the chances and then to decide to go it are a people not likely to go under.” Speech at the National Day Rally in 1966 NOW AVAILABLE IN CHINESE Piquant quotes from Lee65 words
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Advertisement47 2016-03-08 6 HOT PROPERTY PRIME HDB CORNER eating hse @Tampines 3800sf+ORA 968sf 10+1 stalls 91yr wef'94 JOO CHIAT RD grd flr retail shop with attached toilet. 355 sf, FH, s/pool. gym. function rm. SHOP SPACES FOR SALE! Check out these properties and more in The Straits Times Classified now!47 words
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Page 7 Advertisements
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Advertisement83 2016-03-08 7 AccountServe A Stone Forest Company RSM Need Help with XBRL Reporting? turnaround time* reports since Nov 2007 *Terms conditions apply 24 Hrs -*r Over 8,000 www.AccountServe.com.sg XBRL@AccountServe.com.sg T+65 6222 6868 RIDE TO YOUR NEXT JOB, ON US APPLY FOR A JOB ON STJOBS AND GET TO YOUR INTERVIEW ON TIME.83 words
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Page 8 Advertisements
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Advertisement9 2016-03-08 8 For full listings of SGX prices, go to http://btd.sg/BTmkts9 words
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Page 10 Advertisements
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Advertisement71 2016-03-08 10 ON THIS OPPORTUNITY Reach out to investors and affluent readers in this Investor Information Page. Advertise at less than $5,800 per full colour ad (a special package for 4 leading newspaper titles The Straits Times, The Business Times, Lianhe Zaobao and The New Paper Sunday). Contact our Sales Team now!71 words
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REAL ESTATE
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Article, Illustration618 2016-03-08 11 Regulators concerned about rising risks in loan markets, rapidly rising home prices Beijing CHINESE regulators plan to impose new rules to end the practice of homebuyers taking out loans to cover downpayments, as they step up scrutiny of financing riskBLOOMBERG FILE PHOTO - 618 words
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337 2016-03-08 11 Tan Hwee Hwee - By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore CAPITALAND’S serviced residence business unit, The Ascott, has snagged a lease award from JTC Corporation for a prime property in Singapore’s one-north business park. Ascott’s newly added property is a 50-unit serviced residence in the business337 words
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366 2016-03-08 11 BLOOMBERG Hong Kong HONG KONG residential home sales plunged 70 per cent in February from a year earlier to a 2 5-year low, as falling prices and economic uncertainty deterred buyers. Last month, 1,807 homes were sold in Hong Kong, compared withBLOOMBERG - 366 words
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Article, Illustration502 2016-03-08 12 Japanese real estate giant will export its development system of office buildings, apartments and hotels to Yangon to address chronic shortage WP Tokyo MAJOR real estate firm Mitsubishi Estate Co is planning to start a roughly 50 billion yen (about S$600WP; PHOTO: BLOOMBERG - 502 words
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912 2016-03-08 12 BLOOMBERG Toronto CANADA’S housing agency, looking for new methods to track foreign ownership in the country’s soaring real estate markets, may tap money laundering police and classify international university students as foreign buyers, according to internal documents. Canada Mortgage HousingBLOOMBERG - 912 words
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503 2016-03-08 12 BANGKOK POST Bangkok MYANMAR has experienced dramatic changes economically and politically over the past few years. As foreign investors rush to set up shop in the newly opened market, office space in the country’s commercial capital is among the most expensive in theBANGKOK POST - 503 words
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Article, Illustration957 2016-03-08 12 BLOOMBERG New York THROUGHOUT his US presidential campaign, Donald Trump has attacked China and warned about the dangers of deficient immigrant screening. “They’ve taken our jobs, they’ve taken our money, they’ve taken everything,” he said of China inBLOOMBERG; PHOTO: REUTERS - 957 words
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Page 11 Advertisements
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Advertisement294 2016-03-08 11 GOLDEN WALL CENTRE 89 Short Street, S(*****6) Freehold Commercial Site adjacent to Rochor MRT station Strategically located at the fringe of Central Area Within Bras Basah Bugis Planning Area, where Urban Design Guidelines seek to create a pedestrian-friendly district with an active bustling street-life and vibrant colourful street-scape Envisioned to294 words
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Advertisement291 2016-03-08 11 FOODCOURTS IN PRIME LOCATIONS Corner HDB Eating House with Living Quarter at Tampines GFA about 3,800sf plus Outdoor Refreshment Area of about 968sf Faces Orchard Road and near Somerset MRT station Strata area 2,648sf Tenure: Freehold 4+1 stalls, water supply grease trap 10+1 stalls, watersupply grease trap 91 years from291 words
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BANKING & FINANCE
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Article, Illustration885 2016-03-08 13 Senior Managers Regime replaces a system that UK lawmakers criticised for giving illusory control over individuals with little prospect of enforcement action REUTERS London NEW rules to hold bosses responsible for wrongdoing at British banks is deterring some bankersREUTERS; PHOTO: BLOOMBERG - 885 words
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652 2016-03-08 13 IFR Hong Kong A GROWING reluctance among banks to hold large corporate deposits is adding to calls for the development of a commercial paper market in Asia. Banks are in discussions with corporate clients about charging for demand depositsIFR - 652 words
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Article, Illustration446 2016-03-08 13 REUTERS New York WELLS Fargo Co, in a bid to boost its dealmaking franchise, is hunting for a new head of mergers and acquisitions, according to people familiar with the matter. The bank’s existing head of mergers, John Laughlin, has moved toREUTERS - 446 words
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Page 13 Advertisements
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Advertisement623 2016-03-08 13 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices IN THE MATTER OF THE COMPANIES ACT CAP. 50 AND IN THE MATTER OF SMBA LIMITED (Co. Reg. No. *****6114K) NOTICE OF RESOLUTION FOR MEMBERS’ VOLUNTARY WINDING-UP (Pursuant to Section 290) At the Extraordinary General Meeting of the members of the623 words
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Advertisement867 2016-03-08 13 ENVICTUS INTERNATIONAL HOLDINGS LIMITED Company Registration No: *****3131Z (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the shareholders of Envictus International Holdings Limited (the “Company”) will be held at Crystal Suite, Level 2, Holiday Inn Singapore Orchard867 words
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ENERGY & COMMODITIES
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Article, Illustration949 2016-03-08 14 CME Group and ICE may make unsolicited offers, after LSE said it was in merger talks with Deutsche Boerse BLOOMBERG New York A FIGHT for control of London Stock Exchange Group plc (LSE) could get bare-knuckled as potential buyersBLOOMBERG; PHOTO: REUTERS - 949 words
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562 2016-03-08 14 Pauline Ng - By Pauline Ng btworld@sph.com.sg Kuala Lumpur BUMI Armada Bhd plunged 21 per cent to 79 sen on Monday after it announced that Woodside Energy Julimar Pty Ltd had terminated the charter of an FPSO unit mid-term, prompting investor concerns over562 words
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512 2016-03-08 14 BLOOMBERG New York HEDGE funds unwound bearish bets at the fastest pace in 10 months as fears of oil sinking to US$20 a barrel faded. A lot has happened since Goldman Sachs Group made that forecast a month ago. SomeBLOOMBERG - 512 words
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Article, Illustration737 2016-03-08 14 BLOOMBERG London EVEN if Saudi Arabia wins its struggle with US shale producers over market share, it will face a new billion-barrel adversary. It won’t be regional nemesis Iran, a resurgent Iraq or long-standing competitor Russia. The answer will beBLOOMBERG; PHOTO: AFP - 737 words
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Page 14 Advertisements
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Advertisement61 2016-03-08 14 She 77K ASIA’S LARGEST EDUCATIONAL KIDS’ FAIR 20 MARCH 2016*SINGAPORE EKPOHaIT UAM-9PM*FREE ADMISSION JOIN US FOR NON-STOP FUN It EXCITEMENT FOR THE WHOLE FAMILY! MEET* GREET WITH YO-KAI WATCH, PEPPA PIG, MY LITTLE PONY lc TRANSFORMERS win from $20,000 worth of Lucky Praw Prizes! see you there! For more information,61 words
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Advertisement54 2016-03-08 14 FULL-DAY WORKSHOPS 2016 MARCH SERIES M A R 1 6 30WEDNESDAY SPH News Centre 9.30am to 6.00pm SURVIVING AND THRIVING CORPORATE STORMS Trainer Suganthi Shivkumar Early Bird by 25 Mar$489 Price From 26 Mar$589 Productivity and Innovation Credit (PIC) Claimable To register or find out more about our workshops, visit54 words
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TECHNOLOGY
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Article, Illustration1186 2016-03-08 15 The hunt in America for scarce talent that can build and run the massive data centres behind cloud computing is pitting three generations of companies against one another NYT San Francisco AMAZON Web Services (AWS), a globespanning cloud computing network that is part ofNYT; PHOTO: NYT - 1,186 words
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Page 15 Advertisements
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Advertisement609 2016-03-08 15 FULL-DAY WORKSHOPS THE MODERN WORKPLACE: ARE YOU EQUIPPED FOR IT? Who should attend: Directors, Business Owners, Supervisors, Professionals, Managers, Executives, and Leaders who wish to grow further in their roles. VISUAL STORYTELLING We live in an age of information abundance and attention scarcity where audiences have lesser time to take609 words
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CONSUMER
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Article, Illustration994 2016-03-08 16 Marketing specialists say US companies recognised the economic value of baby boomers but were hesitant to shift marketing budgets away from the 83 million millennials NYT New York BRENT Bouchez opened Agency Five0 six years ago in New York as an advertising firmNYT; PHOTO: NYT - 994 words
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Article, Illustration734 2016-03-08 16 Trend may also help global brewing giants unlock frothier profits REUTERS Shanghai SMALL-SCALE brewers from Brooklyn to Beijing are tapping growing demand from cosmopolitan Chinese consumers for high-end beers, a trend which could also help global brewing giants finallyREUTERS; PHOTO: REUTERS - 734 words
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733 2016-03-08 16 REUTERS London AS online deliveries surge and shop sales fall, Britain’s retailers are looking to refit their once-bustling superstores with new attractions such as rivals’ fashion brands to fill empty spaces and keep shoppers coming through the door. In aREUTERS - 733 words
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Page 16 Advertisements
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Advertisement24 2016-03-08 16 Singapore's status as infrastructure hub boosted by World Bank's new centre World Bank's new centre iS-£IRS To subscribe, call 6388-3838 or go to sphsubscription.com.sg24 words
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TRANSPORT
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Article, Illustration806 2016-03-08 17 Their lawyer says many are conflicted about doing this, for they believe the victims are alive, held in an unknown place AFP Beijing RELATIVES of a dozen Chinese passengers aboard missing flight MH370 began filing suits against Malaysia AirlinesAFP; PHOTO: AFP - 806 words
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Article, Illustration934 2016-03-08 17 Conglomerate’s US plans are now somewhat on the back burner, adds exec REUTERS New Delhi INDIAN conglomerate Mahindra Mahindra is re-thinking the strategy for its loss-making Korean automaker Ssangyong Motor Co, tapping the brakes on its planned push into theREUTERS; PHOTO: REUTERS - 934 words
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541 2016-03-08 17 BLOOMBERG Singapore DAEWOO Shipbuilding Marine Engineering Co, the world’s second-big-gest shipbuilder, posted a record loss last year as it wrote down more charges from offshore projects under construction. The net loss including minority interests totalled 5.13 trillion won (S$5.8BLOOMBERG - 541 words
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384 2016-03-08 17 BLOOMBERG Atlanta UNITED Continental Holdings Inc chief executive officer Oscar Munoz, who underwent a heart transplant after falling ill five months ago, will return to full-time duty next week. Mr Munoz, 57, had been participating in all major corporate decisionsBLOOMBERG - 384 words
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GOVERNMENT & ECONOMY
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Article, Illustration726 2016-03-08 18 Anthony Rowley - Kuroda also seen adopting a more relaxed attitude towards achieving the central bank’s 2% inflation target By Anthony Rowley btworld@sph.com.sg Tokyo BANK of Japan governor Haruhiko Kuroda appeared to suggest in a speech on Monday that the central bank willPHOTO: AFP - 726 words
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Article, Illustration941 2016-03-08 18 REUTERS Berlin NERVOUSNESS among buyers of German goods around the world often over problems that have yet to materialise is forcing some of the nation’s small-and-mid-sized manufacturers to postpone investments, and threatening to stunt economic growth. These largely family-owned companies ofREUTERS; PHOTO: REUTERS - 941 words
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719 2016-03-08 18 BLOOMBERG London MARK Carney’s scope to sidestep “Brexit” is dwindling. With a referendum on Britain’s European Union membership looming, the Bank of England governor has spent months trying to skirt the high-ly-charged debate. An appearance before lawmakers this week may throw him right in,BLOOMBERG - 719 words
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Article, Illustration689 2016-03-08 18 WP Washington THE Obama administration is in a mad rush to draft regulations before the clock runs out and an obscure law makes it easier for foes in Congress to repeal rules they don’t like. The to-do listWP; PHOTO: AFP - 689 words
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567 2016-03-08 19 It says capital outflows likely driven more by local firms paying down US dollar-denominated debt than investors ditching assets BLOOMBERG London PERSISTENT capital outflows from China since mid-2014 were probably driven more by local companies paying down their dollar-denominated debt in anticipation ofBLOOMBERG - 567 words
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Article, Illustration830 2016-03-08 19 AFP Los Angeles NANCY Reagan, devoted wife and trusted confidante to late US president Ronald Reagan who became the most ardent guardian of his legacy, died on Sunday, aged 94. The former first lady, who suffered heart failure at her homeAFP; PHOTO: AFP - 830 words
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Article, Illustration817 2016-03-08 19 REUTERS Tokyo RETIRED Japanese airline employee Tarou Tanzawa said that he hadn’t thought much about his own death until his 84-year-old mother was diagnosed with malignant lymphoma and decided against costly and invasive life-prolonging treatment. He watched his mother die peacefullyREUTERS; PHOTO: REUTERS - 817 words
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361 2016-03-08 19 REUTERS London A LONG-RUNNING dispute over the leadership of Libya’s US$67 billion sovereign wealth fund reached London’s High Court on Monday, potentially paving the way for litigation against two global investment banks to move forward. The Libyan Investment AuthorityREUTERS - 361 words
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OPINION
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592 2016-03-08 20 EDITORIAL AGAINST all odds, a fragile ceasefire seems to have taken hold in strife-torn Syria. Given that an estimated 250,000 people have been killed in the past five years of fighting and at least 4.5 million have fled abroad as592 words
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Article, Illustration1152 2016-03-08 20 CLAIR DEEVY, ELAINE KIM - According to Unicef, the more women are empowered in economic activities, the more families will spend on children’s nutrition, health and education.BY CLAIR DEEVY AND ELAINE KIM education.BY CLAIR DEEVY, ELAINE KIM T The writers are respectively Facebook head of economic growth initiatives APAC andFILE PHOTO - 1,152 words
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Article, Illustration783 2016-03-08 20 Robert J Samuelson - THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP Washington BY 1915, the United States was the world’s richest nation and yet, most Americans were dirt poor by today’s standards. Adjusted for inflation, men’s average wages wereTHE WASHINGTON POST WRITERS GROUP - 783 words
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Article, Illustration1277 2016-03-08 21 Leon Hadar - COMMENTARY By Leon Hadar Washington IN the aftermath of their super victories in the Super Tuesday primaries and a few others thereafter, a general presidential election matchup in November between the two winners, Democrat Hillary Clinton and Republican Donald Trump, seems to be very likely,1,277 words
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Article, Illustration1699 2016-03-08 21 LINDA YC LIM - How S’pore has grown from a policy perspective Essays by economists show how policies have worked (or not) in the last 50 years as Singapore and the world outside changed.BY changed.BY LINDA YC LIM T The writer is guest editor of “A Fifty-Year Retrospective on the Singapore Economy” published inPHOTO: REUTERS - 1,699 words
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Page 22 Advertisements
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Advertisement606 2016-03-08 22 the Business times Shipping times Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10606 words
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Advertisement133 2016-03-08 22 FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION BERJAYA I 04/16 14/03 16/03 BELITUNG/PKL BALAM SRIJAYA 8 07/16 10/03 12/03 JAMBI/PEKAN BARU CARAKA JN3 II 03/16 09/03 11/03 PALEMBANG/PANJANG SIANIRI 02/16 09/03 11/03 BELAWAN/MALAHAYATI INDONESIA JAVA SULAWESI PORTS VESSEL VOY ETA ETD DESTINATION FLORA 8133 words
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Advertisement198 2016-03-08 22 Open yard storage of 16,000sqm Unstuffing/Stuffing Inland Transportation Solutions Painting Engineering Works Providing a one-stop solution for all your logistics needs Call 8121 0966 or email 2WASSINEPCOperation@2wglobal.com for more details TOKO LINE REGULAR RORO/CONVENTIONAL SERVICE JAPAN/HONGKONG/STRAITS/BATAM/JAKARTA 171 TRAS STREET #06-177/179 UNION BUILDING, SINGAPORE *****5 TEL: *****144/*****355 FAX: (65) *****852 TELEX:198 words
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LIFE & CULTURE
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Article, Illustration568 2016-03-08 23 AFP Hong Kong AS the film and music industries grapple with the fallout from the race rows that dogged the Oscars and the Brit Awards, English author Bali Rai warns publishing too has a serious diversity issue. The award-winning writer, who has Indian heritageAFP - 568 words
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Article, Illustration1239 2016-03-08 23 Two major self-financed UK lenders are offering non-recourse loans secured by art NYT London ART and money have long been closely linked, but in the 21st century, it seems, the two have become synonymous. One way to extract the latter from the former isNYT; PHOTO: AFP - 1,239 words
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Article, Illustration1161 2016-03-08 23 WP Washington THEY’RE one of the biggest boy bands in the world. Their concerts make One Direction’s look poorly attended. Compared with their fans, Beliebers seem halfhearted. They’re Big Bang, and you’ve probably never heard of them. For a decade, theseWP; PHOTO: GAVIN FOO/THE STRAITS TIMES - 1,161 words
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Page 23 Miscellaneous
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Miscellaneous307 2016-03-08 23 CRYPTIC CROSSWORD Across 4 Some bits of cricket, fiery, went too far (8) 8 Wish for river to engulf schoolmaster (6) 9 Person managing test no longer an underground worker (8) 10 A liberal college head entertains jolly local dignitary (8) 11 One’s checked sailor’s effect of sun (6) 12307 words
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SME
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Article, Illustration1289 2016-03-08 24 GRACE SO - With no qualifications and very limited English, David Chan built a business beacon. BY GRACE SO beacon.BY GRACE SO graceso@sph.com.sg SINGAPORE’S homegrown “Crystal King” David Chan received numerous warnings from friends and family when he started Garden Home Gifts and Souvenirs in 2006. After all, thisPHOTOS: ARTHUR LEE - 1,289 words
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Article, Illustration828 2016-03-08 24 Charmian Aw - COMMENTARY By Charmian Aw The writer is a director at Drew Napier llc THE Personal Data Protection Act (PDPA) came into full force two years ago, and yet many small and medium enterprise (SME) owners lack full understanding of how the PDPA applies to themFILE PHOTO - 828 words
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