PRESS DIGEST - Singapore newspapers - March 27

SINGAPORE, March 27 (Reuters) - The following are stories from Singapore newspapers on Thursday. Reuters has not verified these stories.

THE STRAITS TIMES

- The island-wide search for accused Islamic militant Mas Selamat bin Kastari, who escaped on Feb. 27, will scale down in about a week and switch to targeted searches based on specific leads, deputy prime minister Wong Kan Seng said, adding that authorities believe the fugitive is still in Singapore.

- The Pramerica Real Estate Investors property fund has put in the top bid of S$800.9 million ($580 million) for a 99-year leasehold retail mall and bus interchange site, beating out five other bidders in the government tender.

- Low cost carrier Jetstar Asia will stop flying from Singapore to the Thai resort island of Phuket from March 29, while rival Tiger Airways will half its service to just once daily, citing poor demand and better opportunities in other markets like Indonesia, Vietnam and India.

THE BUSINESS TIMES

- Singaporeans' share of purchases in private apartments fell to 63 percent in 2007 compared with 77 percent in 2000, and the lowest since figures became available in 1995. Foreigners took up 29 percent of the purchases, up from 16 percent in 2000, while companies bought the remainder, a Jones Lang LaSalle report said.

- Allco Commercial Real Estate Investment Trust ALCR.SI, which received in-principle approvals last week to extend its debt repayment due date for S$550 million from end-July 2008 to end-Dec 2009, said the refinancing was "a lot more expensive".

- Retailer Robinson & Co.'s RBSS.SI independent financial advisors ANZ Bank have recommended that shareholders accept a takeover offer of S$7 per share from Dubai's Al-Futtaim Group. The offer closes on April 3.