Funan DigitaLife Mall , formerly Funan The IT Mall and Funan Centre , was a shopping centre formerly located near the Civic District in Singapore . Completed in 1985, the mall specialised in electronics and IT -related goods. It was a more upmarket competitor of Sim Lim Square , the latter of which catered more to those seeking more budget purchases. It was closed and demolished in 2016.
57-479: The mall opened in January 1985 as Funan Centre as a general shopping centre, which provided more options for shoppers to shop at other than Orchard Road. In the early 90s, the mall began to attract a critical mass of electronic and IT retailers over the years. Its main and long-time anchor tenant is Challenger Superstore, a major homegrown IT store established in 1984. In 1992, the mall was refurbished. It later adopted
114-1087: A Harvey Norman, the guys on the floor have a real reason to help you. You walk away happy at the end of the day having spent money with them. And so do the staff because some of the money you left in the store goes to them... for helping you solve a problem in your life." Harvey Norman is the flagship brand of Harvey Norman Holdings. Harvey Norman is mainly a household goods retailer – with items being sold in their stores including major appliances , small appliances , information technology (such as computers, printers and mobile phones), furniture, bedding, hardware (bathrooms) and flooring among other things. There are 193 franchise-operated Harvey Norman stores located throughout Australia, as at 23 April 2020, with separate franchisees owning and operating separate departments. The majority of Harvey Norman stores are located in New South Wales (56), followed by Victoria (45), Queensland (44), Western Australia (27), South Australia (10), Tasmania (7), Northern Territory (2) and
171-484: A call system, where an exchange employee called the names of each company and brokers bid or offered on each. In the 1960s this changed to a post system. Exchange employees called "chalkies" wrote bids and offers in chalk on blackboards continuously, and recorded transactions made. The ASX (Australian Stock Exchange Limited) was formed in 1987 by legislation of the Australian Parliament which enabled
228-475: A clearance centre. That had mixed results, and was closed within 12 months. However, the Bennetts Green store expanded into larger premises in 1996, where it operates today. Part of the relocation was a dedicated educational centre, named Kidscape. Specialist employees from Dataflow provided advice to parents on which software was best for their child. Kidscape was installed at a number of stores, but it
285-399: A few Sydney stores opening at midnight, and some regional areas opening at 6 a.m. Harvey Norman sold Apple Computer products for several years. Apple decided to stop supplying the chain in the late 1990s, but returned in 2004 with the iPod range, which later expanded into iPads , iPhones and iMacs . A Norman Ross store was opened at Bennetts Green in 1995, with the purpose of being
342-546: A name for the new business, with Harvey and Lord reluctant to take on the other's name. They eventually decided to retain Norman's name and that of its first store manager, Peter Ross. This spawned the retail chain Norman Ross. Norman Ross became one of the largest appliance retail chains and by 1979 controlled 42 stores with sales of more than $ 240 million. In the early 1980s, Alan Bond and Grace Bros sought to acquire
399-511: A separate entity of management. Thus many superstores are a combination of three or four separate businesses managed independently contributing revenue to Harvey Norman Holdings Ltd. through lease payments and a portion of sales. Overseas, Harvey Norman stores are directly owned and operated by the ASX-listed, Sydney-based parent company, Harvey Norman Holdings Limited. However, sales commissions are still heavily used across all departments of
456-473: A single contract of greasy wool that by the end of the year had traded 19,042 lots. 1969–1970 : The Poseidon bubble (a mining boom triggered by a nickel discovery in Western Australia) caused Australian mining shares to soar and then crash, prompting regulatory recommendations that ultimately led to Australia's national companies and securities legislation. 1976 : The Australian Options Market
513-484: A telegram telling me I was sacked". Norman Ross went into liquidation in 1992. In October 1982, Harvey and Norman purchased a new shopping centre in the outer Sydney suburb of Auburn for A$ 3 million, and opened the first Harvey Norman store. Harvey Norman Holdings Limited was listed on the Australian Securities Exchange on 3 September 1987. In the early 1990s, Harvey Norman adopted
570-559: Is City Hall MRT station (NS25/EW13). Harvey Norman Harvey Norman is an Australian multinational retailer of furniture, bedding, computers, communications and consumer electrical products. It mainly operates as a franchise , with the main brand and all company-operated stores owned by ASX -listed Harvey Norman Holdings Limited . As of 2022, there are 304 company-owned and franchised stores in Australia , New Zealand , Europe and South-East Asia operating under
627-687: Is a NASDAQ OMX ultra-low latency trading platform based on NASDAQ OMX's Genium INET system, which is used by many exchanges around the world. It is one of the fastest and most functional multi-asset trading platforms in the world, delivering latency down to ~250 microseconds. ASX Trade24 is ASX global trading platform for derivatives. It is globally distributed with network access points (gateways) located in Chicago, New York, London, Hong Kong, Singapore, Sydney and Melbourne. It also allows for true 24-hour trading, and simultaneously maintains two active trading days which enables products to be opened for trading in
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#1732793975772684-1045: Is a furniture, bedding, flooring, computers, electrical and homewares chain independently operated by franchisees (and whose brand is owned by Harvey Norman Holdings). They focus on fashion and design in their furniture range, with their hallmark being their range of contemporary, Australian-made furniture. While their focus is on furniture and bedding, certain outlets (such as former Joyce Mayne stores) also stock higher-end cooking appliances. As of 9 June 2016, there are 17 Domayne franchised complexes Australia-wide, with 10 in New South Wales ( Alexandria , Auburn, Belrose , Caringbah , Castle Hill , Liverpool , North Ryde , Penrith , Warrawong , West Gosford ), 3 in Queensland ( Bundall , Fortitude Valley , Maroochydore ), 2 in Victoria (Melbourne QV, Springvale ) and Western Australia (City West Perth, Osborne Park ), and 1 each in
741-482: Is a pre-market session from 7:00 am to 10:00 am Sydney time and a normal trading session from 10:00 am to 4:00 pm Sydney time. The market opens alphabetically in Single-price auctions , phased over the first ten minutes, with a small random time built in to prevent exact prediction of the first trades. There is also a single-price auction between 4:10 pm and 4:12 pm to set
798-648: Is an Australian public company that operates Australia's primary securities exchange , the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as, the Sydney Stock Exchange , a separate entity). The ASX was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges, and merged with
855-415: The 2016 Bathurst 1000 now run by Nissan Motorsport using a Nissan Altima L33 and sporting the new number #360. In 2017 Harvey Norman became the major backer for Simona de Silvestro in the #78 Nissan Motorsport Nissan Altima L33. At the end of 2019 the partnership between Harvey Norman and Kelly Racing ended. Australian Securities Exchange Australian Securities Exchange Ltd ( ASX )
912-569: The Australian Capital Territory (2). Harvey Norman Design and Renovations is a subsidiary of Harvey Norman Holdings Limited. The design and renovations arm of the company specialises in bathroom , kitchen , wardrobe , home office , bars and home theatre renovations, and featured showroom franchises in Victoria, South Australia and New South Wales. The Victorian and South Australian outlets have since closed, leaving five New South Wales outlets in operation. Domayne
969-644: The Harvey Norman , Domayne and Joyce Mayne brands in Australia, and under the Harvey Norman brand overseas. Gerry Harvey and Ian Norman opened their first store in 1961, that specialised in electrical goods and appliances. Harvey and Norman had first met when both were working as door-to-door vacuum cleaner salesmen. The store's success prompted Harvey and Norman to expand the business and conduct talks with retailer Keith Lord, who sought to expand his own retail group. They could not settle on
1026-602: The ASX could not offer them. The court held they were options and so LEPOs were introduced in 1995. 1995 : Stamp duty on share transactions was halved from 0.3% to 0.15%. The ASX had agreed with the Queensland State Government to locate staff in Brisbane in exchange for the stamp duty reduction there, and the other states followed suit so as not to lose brokerage business to Queensland. In 2000 stamp duty
1083-633: The ASX in 1998. 2000 : In October, ASX acquires a 15% stake in the trading and order management software company IRESS (formerly BridgeDFS Ltd). 2001 : Stamp duty on marketable securities abolished. 2006 : The ASX announced a merger with the Sydney Futures Exchange, the primary derivatives exchange in Australia. ASX Group has two trading platforms – ASX Trade, which facilitates the trading of ASX equity securities and ASX Trade24 for derivative securities trading. All ASX equity securities are traded on screen on ASX Trade. ASX Trade
1140-441: The ASX operating rules. The Reserve Bank of Australia (RBA) has oversight of the ASX's clearing and settlement facilities for financial system stability. Products and services available for trading on ASX include shares, futures, exchange traded options, warrants, contracts for difference, exchange-traded funds, real estate investment trusts, listed investment companies and interest rate securities. The biggest stocks traded on
1197-567: The ASX, in terms of market capitalisation , include BHP , Commonwealth Bank , Westpac , Telstra , Rio Tinto , National Australia Bank and Australia & New Zealand Banking Group . The major market index is the S&;P/ASX 200 , an index made up of the top 200 shares in the ASX. This supplanted the previously significant All Ordinaries index, which still runs parallel to the S&;P ASX 200. Both are commonly quoted together. Other indices for
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#17327939757721254-468: The Australia-based online store of Harvey Norman. Flexirent has had very close ties to Harvey Norman since 1995 and is heavily marketed in stores. Flexirent is alleged to have strong elements of predatory lending practices. In addition, Gerry Harvey has himself asserted on primetime Australian television in a January 2008 airing of Today Tonight that Flexirent should be turned down by
1311-661: The Australian Capital Territory ( Fyshwick ) and South Australia ( Marion ). As of December 2019, some Domayne stores are listed as 'Harvey Norman @ Domayne'. Joyce Mayne is a retail chain offering similar products to Harvey Norman. They mainly offer whitegoods, small appliances, stationery and IT products (such as mobile phones, computers and printers). There are seven Joyce Mayne stores in Australia as of 1 November 2018 – four in Queensland ( Maroochydore , Chancellor Park , Toowoomba and Townsville ), two in New South Wales ( Nowra and Warrawong ) and one in
1368-676: The Harvey Norman brand to Asia in 1999. Harvey Norman Ossia (Asia) bought 50.6% of Pertama Holdings, a Singapore electronics retailer that was publicly listed on the Singapore Stock Exchange for SGD$ 36 million. Goh was appointed as the Deputy Chairman of Pertama Holding Limited. Harvey Norman Ossia (Asia) acquired 14 electronics stores in Singapore, formerly known as Electric City and owned by Pertama Holdings, and rebranded them as Harvey Norman stores. As of 2022,
1425-574: The Harvey Norman website. As of 31 January 2023, Harvey Norman Holdings' overseas operations (all conducted under the Harvey Norman brand) are in: With the exception of Malaysia and Singapore, all overseas operations are directly owned and operated by Harvey Norman Holdings Ltd. or its associated companies. George Goh Ching Wah, founder and chairman of publicly-listed Singapore sporting goods and fashion distributor Ossia International Limited, partnered Gerry Harvey to form Harvey Norman Ossia (Asia) Pte Ltd as an SGD33 million joint venture vehicle to bring
1482-665: The Hobart exchange. In November 1903 the first interstate conference was held to coincide with the Melbourne Cup . The exchanges then met on an informal basis until 1937 when the Australian Associated Stock Exchanges (AASE) was established, with representatives from each exchange. Over time the AASE established uniform listing rules, broker rules, and commission rates. Trading was conducted by
1539-955: The Northern Territory ( Darwin ). In August 2007, market analysts suggested Harvey Norman would launch a rival "big-box" stationery and office supplies competitor to Officeworks before June 2008. Harvey Norman has registered the brand name OFIS and as a result of the acquisition of former Megamart and Retravision stores, has access to well-placed potential sites on which to open Officeworks-sized outlets. In December 2007, Harvey Norman announced it would be opening its first two OFIS stores in Albury and Auburn in March 2008.They aimed to have 100 stores within ten years. In all, five OFIS outlets were established, but proved unprofitable and in February 2009 Harvey Norman stated it would close all of
1596-569: The Stock Exchange Automated Trading System (SEATS). It was a far cry from the original system which dated back over 100 years. During that time there had been three different forms of trading on the Australian stock exchanges. The earliest was the auction-based call system, which saw a stock exchange employee (the caller) call the name of each listed security in turn while members bid, offered, sold or bought
1653-725: The Sydney Futures Exchange in 2006. Today, ASX has an average daily turnover of A$ 4.685 billion and a market capitalisation of around A$ 1.6 trillion , making it one of the world's top 20 listed exchange groups, and the largest in the southern hemisphere. ASX Clear is the clearing house for all shares, structured products, warrants and ASX Equity Derivatives. ASX Group is a market operator, clearing house and payments system facilitator. It also oversees compliance with its operating rules, promotes standards of corporate governance among Australia's listed companies and helps to educate retail investors. The Australian Securities & Investments Commission (ASIC) has responsibility for
1710-813: The Sydney Stock Exchange. 1885 : Two years after the Broken Hill Mining Company (private company) was established by a syndicate of seven men from the Mount Gipps Station , the company was incorporated to become the Broken Hill Proprietary Company Limited (BHP). In 1885, BHP listed on the Melbourne Stock Exchange. 1937 : The Australian Associated Stock Exchanges (AASE) was established in 1937. Since 1903
1767-485: The amalgamation of six independent stock exchanges that formerly operated in the state capital cities. After demutualisation , the ASX was the first exchange in the world to have its shares quoted on its own market. The ASX was listed on 14 October 1998. On 7 July 2006 the Australian Stock Exchange merged with SFE Corporation, holding company for the Sydney Futures Exchange. 1861 : Ten years after
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1824-489: The average family. This is why Harvey Norman promotes the product to its commercial customer base. Harvey Norman partnered with Tickford Racing to support the #200 Ford Falcon FG X wildcard driven by Simona de Silvestro and Renee Gracie under the name Harvey Norman Supergirls for the 2015 Bathurst 1000 . In 2016 Harvey Norman once again sponsored the Harvey Norman Supergirls wildcard entry for
1881-607: The bigger stocks are the S&P/ASX 100 and S&P/ASX 50 . The origins of the ASX date back to the mid-1800s when six separate exchanges were established in Australia's state capital cities of Melbourne , Victoria, (1861), Sydney , New South Wales (1871), Hobart , Tasmania (1882), Brisbane , Queensland (1884), Adelaide , South Australia (1887) and Perth , Western Australia (1889, the Stock Exchange of Perth ). A further exchange in Launceston , Tasmania, merged into
1938-409: The chain had 100 stores. In 2006, Retravision was struggling, and a number of Retravision stores were acquired by Harvey Norman. Many were later converted to either Harvey Norman or Joyce Mayne stores, but those that were not successful were closed down. Harvey Norman's operating structure is unusual in that each store department (flooring, bedding, furniture, computer and electrical) is operated by
1995-559: The chain, spawning a bidding war that saw Grace Bros incorporate the chain in 1982. Three weeks later however, a determined Alan Bond successfully convinced the Grace Bros director Michael Grace to sell the chain to Bond. Shortly after, Harvey and Norman were given notice and redundancy package of six months pay. Reasons for their sacking were not publicised, although Harvey later told The Daily Telegraph : "I said I wished Alan Bond would pack up his marbles and go back to Perth. Then I got
2052-544: The company owns 14 outlets in Singapore . Its flagship store is at Millenia Walk , which was opened in 2015, and is the largest electronics store in the city area with 100, 000 sq ft. Harvey Norman Holdings Ltd. and its associated companies effectively own 80.2% of Pertama, with Ossia International, holding 19.8%. Formerly listed on the Singapore Exchange (SGX), on 8 July 2013, it was finally delisted after
2109-770: The daily closing prices. Security holders hold shares in one of two forms, both of which operate as uncertificated holdings, rather than through the issue of physical share certificates : Holdings may be moved from issuer-sponsored to CHESS or between different brokers by electronic message initiated by the controlling participant. Short selling of shares is permitted on the ASX, but only among designated stocks and with certain conditions: Many brokers do not offer short selling to small private investors. LEPOs can serve as an equivalent, while contracts for difference (CFDs) offered by third-party providers are another alternative. In September 2008, ASIC suspended nearly all forms of short selling due to concerns about market stability during
2166-417: The electronic CLICK system for derivatives began. 1998 : ASX demutualised to become a listed company. It was the first exchange in the world to demutualise and list on its own market, a trend that has been imitated by several other exchanges over the years. The Australian Mutual Provident Society began in 1849 as an organisation offering life insurance. Now known as AMP it became a publicly listed company on
2223-597: The floor of the Sydney Exchange was suspended throughout Friday. Damage totaled $ 2 million and repairs took more than six months, with new carpet laid and cables and computers replaced. Stockbrokers who had taken advantage of joint access were able to trade on the Melbourne Stock Exchange. And, with the Sydney trading floor closed by floodwaters, the Melbourne Exchange enjoyed its busiest trading day for
2280-466: The ground rules for commissions and the flotation of government and semi-government loan raisings. 1938 : Publication of the first share price index. 1939 : Sydney Stock Exchange closed for the first time due to the declaration of World War II . 1960 : Sydney Futures Exchange began trading as Sydney Greasy Wool Futures Exchange (SGWFE). Its original goal was to provide Australian wool traders with hedging facilities in their own country. SGWFE offered
2337-408: The name Funan The IT Mall in 1997 to reflect its current focus on IT related outlets. In 2005, the mall received minor upgrades, and was again renamed to Funan DigitaLife Mall. There were a total of 178 outlets spread over six floors. Challenger Superstore occupied almost the entirety of the sixth floor, and was accompanied by another anchor tenants such as Harvey Norman in the other floors. Due to
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2394-531: The new trading day in one time zone while products are still trading under the previous day. The normal trading or business days of the ASX are week-days, Monday to Friday. ASX does not trade on national public holidays: New Year's Day (1 January), Australia Day (26 January, and observed on this day or the first business day after this date), Good Friday (that varies each year), Easter Monday, Anzac day (25 April), King's Birthday (June), Christmas Day (25 December) and Boxing Day (26 December). On each trading day there
2451-597: The official advent of the Gold Rush , Australia's first stock exchange was formed in Melbourne. In the 1850s Victoria was Australia's gold mining centre, its population increasing from 80,000 in 1851 to 540,000 in 1861. 1871 : Thirty years after it lit the first gas street light in Sydney, the Australian Gas Light Company took its place in history again, becoming the second company to list on
2508-421: The popularity of online shopping, business at the mall had been declining over the past few years, forcing tenants to close down. The mall was initially planned to be renovated in 2014. However, it was later slated for demolition. The last day of mall operation was 30 June 2016. All tenants have since relocated and the building was later demolished. The new commercial building whose name was stripped down to Funan
2565-891: The proportion of shares in free float fell below 10%. Under the former ownership structure, as of July 2013 Harvey Norman Singapore (a wholly owned subsidiary of ASX-listed Harvey Norman Holdings Ltd.) and Harvey Norman Ossia (Asia) Ltd.—a 60/40 joint-venture with Ossia International—had held over 83% of Pertama's shares. Harvey Norman Holdings Ltd previously operated Norman Ross stores in New Zealand. The first store opened on 4 December 2007 in Lower Hutt . All Norman Ross stores were rebranded as Harvey Norman in February 2013. On 22 December 2011, Harvey Norman launched Harvey Norman Direct Import based in Ireland to ship games to buyers in Australia. The prices for video games are cheaper than
2622-465: The state stock exchanges had met on an informal basis, but in 1936 Sydney took the lead in formalising the association. Initially this involved the exchanges in Adelaide, Brisbane, Hobart and Sydney. Melbourne and Perth joined soon after. Through the AASE the exchanges gradually brought in common listing requirements for companies and uniform brokerage and other rules for stockbroking firms. They also set
2679-547: The stock at each call. This system proved inadequate to handle the increased volume of trading during the mining booms. It was replaced by the 'post' system in the early 1960s, which involved stocks being quoted on 'posts' or 'boards'. 'Chalkies' were employed by the Stock Exchange and it was their function to record in chalk the bids and offers of the operators (employees of stockbrokers) and the sales made. This system stayed in place until 1987. 1990 : A warrants market
2736-522: The store to motivate salespeople, drive sales and improve service. Retail marketing consultant Kevin Moore argues that this 'high reward-based remuneration structure' drives Harvey Norman's point of difference and is what contributes, at least partly, to its retail dominance. "Almost all the people in a Harvey Norman are there because they are great salespeople, can propose solutions for customers and are paid in line with what they sell... So when you walk into
2793-801: The stores by June 2009 and abandon the concept. School Locker is aimed at primary and high school students, selling school uniforms, stationery as well as sports and musical equipment. There are two big box -style retail stores in New South Wales and four in Queensland in addition to a dozen School Campus stores. There were five Big Buys stores in Australia (all now closed), located in Springvale, Victoria , Cambridge, Tasmania , Munno Para, South Australia , Auburn, New South Wales and Maroochydore, Queensland . They sold some of Harvey Norman's range, plus music instruments, camping gear, luggage, pet and baby products. Big Buys also had an online store via
2850-474: The superstore format then successful in the United States , and entered the computer and furniture markets. The first computer superstore was opened at Bennetts Green , Newcastle , in late 1993 with much fanfare. That was followed several weeks later by the opening of a larger superstore at Auburn. Many stores later expanded their computer sections. The launch of Windows 95 was a huge success, with
2907-443: The supervision of real-time trading on Australia's domestic licensed financial markets and the supervision of the conduct by participants (including the relationship between participants and their clients) on those markets. ASIC also supervises ASX's own compliance as a public company with ASX Listing Rules. ASX Compliance is an ASX subsidiary company that is responsible for monitoring and enforcing ASX-listed companies' compliance with
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#17327939757722964-465: The year. After that episode a back-up site was established outside the Sydney CBD. 1987 : The Australian Stock Exchange Limited (ASX) was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament. The formation of the national stock exchange involved the amalgamation of the six independent stock exchanges that had operated in the states' capital cities. Launch of
3021-577: Was abolished in all states as part of the introduction of the GST . 1996 : The exchange members (brokers etc.) voted to demutualise . The exchange was incorporated as ASX Limited and in 1998 the company was listed on the ASX itself, with the Australian Securities & Investments Commission enforcing the listing rules for ASX Limited. 1997 : Electronic trading commences as the option market moves from floor to screen. A phased transition to
3078-432: Was being built on its former site. The new commercial building would have a 24-hour drive-thru, underground walkway to City Hall MRT station , The Adelphi Lifestyle Mall and Capitol Theatre . It also would have serviced apartments and offices as well. Originally slated to be reopened in 2020, the building was re-opened earlier than the scheduled reopening date on 28 June 2019. The nearest MRT Station to Funan DigtaLife Mall
3135-946: Was discontinued at a number of them within two years. Some stores also opened early for the Windows 98 launch, which included a number of offers, including an SPC CD with Harvard Graphics and Quicken . Other products, such as modems and printers , were promoted at $ 98. Harvey Norman has relied on 'bricks & mortar' stores as its strength. When suppliers such as Compaq and IBM started supplying direct, Harvey Norman stopped selling those products in-store. After Compaq later stopped selling direct, Harvey Norman returned to selling Compaq PC products in 2001. Harvey Norman's growth occurred organically until it acquired Joyce Mayne in 1998. A number of electrical stores in Western Australia, some of which were owned by Wesfarmers , were purchased. Further acquisitions followed and by 2000
3192-497: Was established, trading call options . 1980 : The separate Melbourne and Sydney stock exchange indices were replaced by Australian Stock Exchange indices. 1984 : Brokers' commission rates were deregulated. Commissions have gradually fallen ever since, with rates today as low as 0.12% or 0.05% from discount internet-based brokers. 1984 : Sydney Stock Exchange closed due to heavy rain and flooding on 9 November 1984 with 70 millimetres of rain falling in one half-hour. All trading on
3249-702: Was established. 1993 : Fixed-interest securities were added (see Interest rate market below). Also in 1993, the FAST system of accelerated settlement was established, and the following year the CHESS system (see Settlement below) was introduced, superseding FAST. 1994 : The Sydney Futures Exchange announced trading in futures over individual ASX stocks. The ASX responded with the Low Exercise Price Option or LEPO (see below). The SFE went to court, claiming that LEPOs were futures and therefore that
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