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PRESS DIGEST - Singapore newspapers - Feb 19

Wed Feb 18, 2009 6:57pm EST

Stocks

   

SINGAPORE, Feb 19 (Reuters) - The following are stories from Singapore newspapers on Thursday. Reuters has not verified these stories.

THE STRAITS TIMES

- The Elections Department has made changes to polling districts in Singapore, adding to speculation the government is preparing for early general elections. The city-state last held elections in May 2006 and the next is due by February 2012.

- Prices for certificates of entitlement (COEs), which give holders the rights to buy motor vehicles in Singapore, rose from two weeks ago as people to sought to buy cars ahead of a cut in the number of COEs from April.

- About 200 people who bought structured products linked to failed U.S. investment bank Lehman Brothers from DBS (DBSM.SI) have got together to discuss filing a lawsuit against the Singapore bank. DBS has already compensated some investors who had alleged the bank did not warn them of the risks associated with the products, which paid relatively low interest rates of around 5 percent.

BUSINESS TIMES

- Osim International (OSIL.SI), a maker of health products best known for its massage chairs, has written off its investment in U.S. retailer Brookstone which it bought in 2005 with state investor Temasek [TEM.UL] and U.S. private equity firm JW Childs. Osim on Wednesday reported a S$73 million fourth quarter net loss after taking a charge of S$77 million on Brookstone.

The independent adviser appointed by United Industrial Corp (UICS.SI) (UIC) to evaluate a takeover bid from UOL Group (UTOS.SI) said the offer price of S$1.20 a share was "not fair". The adviser, Dutch bank ING, also warned however that UIC shares may fall if the UOL bid is unsuccessful or withdrawn.



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