The Business Times, 29 May 2003

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Total Pages: 24
1 24 The Business Times
  • 15 1 MITA (P) 024/03/2003 85* THE BUSINESS TIMES SINGAPORE I htip://business-times.asial .com.sg THURSDAY, MAY 29, 2003*
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  • 918 1  -  98 says whitewash proposal is evidence that scrip dividend plan not aimed at diluting Oei's stake By Catherine Ong [SINGAPORE] A rowdy shareholders' meeting at Nat Steel Ltd adjourned yesterday without a compromise on the divisive issue of a scrip dividend or anyone getting
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  • 429 1  -  Firm will return all application monies and relaunch IPO By Denesh Divyanathan [SINGAPORE] In an unprecedented move, the Monetary Authority of Singapore (MAS) yesterday issued an interim stop order on the initial public offering (IPO) prospectus of EC-Asia International, citing concerns that
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  • 801 1  -  exclusive MOM figures show slow and uneven progress in building up the monthly variable component By Wong Wei Kong [SINGAPORE] If the government had its way, more companies would be like OCBC Bank. Last December, OCBC and the Singapore Bank Employees' Union
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  • 81 1 □«n 1,338.60 (+13.30) ST INDEX FUTURES 1,338.00 (+6.00) SIMSCI FUTURES 186.90 (+3.00) Wednesday Change KLSECOMP *****0. +11 89 NIKKEI 225 HjSH IH +113.94 HANK SENG 9.***** *8981 SET INDEX 402.98 *2 29 JAKARTA COMP 492.82 +12 55 MANILA COMP 1.***** +11*1 TAIPEI WPI 4.***** +23,30 SEOI'LCOMP 628 36 *l4iKi
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  • 77 1 FOREX RATES US$ 8$ I 'SS |SS per I'SS) 172* £(l'SS/SS per S| 1.637 1*29 El R()|I SS/SS/E). 1.177 itCM YEN 117.5 <8.011 KM 3JNM 2199 HKS 7 798 4.514 BAHT 41.71 2414 RIPIAH MJ20 4.7-iM RENMINBI H.299 4 MM INDIAN ID PEE 4K94 27 17 PRIME RATES SINGAPORE*
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  • 941 1  -  EVE OK THE ECONOMY Bnt outlook still bleak, with Barclays seeing contraction for fall year By Anna Teo (SINGAPORE) While GDP contraction in the current second quarter seems a foregone conclusion, economists say Singapore will probably escape recession this year but only in
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  • Page 1 Advertisements
    • 12 1 SlA'g wages 'got out of line': NTUC chief, Pg 7 8 88?!
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    • 48 1 Missed that sharp commentary in BT? Log ontoßT Online and check out our archived columns. This value-added service is free to BT newspaper subscribers. For others, it will be a premium subscription service from 4am to 2pm. Call 6388-3838f0r details or go to http://business-times, asia 1. com. sg
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    • 133 1 THE WORST MAY BE OVER FOR AIRLINES 1 Page 2 I I v P fl J «Mille Miglia» The sporting spirit by Chopard j* iT Available at selected watch specialists and Chopard Boutiques worldwide. IN SINGAPORE: Chopard Boutiques: 391 Orchard Road, n* 01-18 Ngee Ann City. Tel. 65/6733 8111 435
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  • NEXT page
    • 585 2  -  SABS OUTBREAK Airlines announce unprecedented marketing plan to rebuild confidence By Donald Urquhart [SINGAPORE] The worst is likely over for airlines sent into a tailspin by the Sars outbreak, according to the industry's global association, as it and other major players announce an unprecedented, big-budget marketing
      AP FILE PHOTO  -  585 words
    • 976 2  -  Changes will see more access, greater autonomy Wong Wei Kong [SINGAPORE] The govern ment has accepted proposals to restructure university education in a way that will lead to more Singaporeans entering university and private universities offering undergraduate courses here. Universities will also be given greater
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    • 353 2 LATEST US DATA Sharp slide reveals fragile state of factory sector Reuters [WASHINGTON] Orders for US durable goods fell sharply in April on slumping demand for cars and military aircraft, the government said yesterday in a report that showed the US factory
      Reuters  -  353 words
  • Page 2 Advertisements
    • 120 2 A a.ui.fc m_-i- _j, m Dirnsn virgin vstaixn Cayman totonds 9 Pihiimi lUuritiuS w—§hw^ in .I «*»«»> Samoa Full nominee, management, corporate secretarial, banking and professional administration services are available. We also specialize in offshore trusts, offshore banks, and captive i H9 insurance companies for qualified applicants. For further information
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    • 12 2 IMF: Concerted action may be needed to stem dollar's fall, Pg 14
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    • 8 2 Hong Kong halts reclamation of three sites, Pgll
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  • SINGAPORE companies
    • 488 3  -  It's 248 th largest company by market cap, UOB and DBS drop behind By Siow Li Sen SINGTEL has moved up the FT Global 500 list that ranks the world's largest companies partly because some of the telecom giants that
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    • 357 3  -  By. Leonard Lim CAPITALAND and Hwa Hong Corporation joint owners of the Trademart site off River Valley have received provisional planning approval to redevelop it into a waterfront condominium. Hwa Hong which yesterday released its first-quarter results hailed the move as helping it to realise the
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    • 382 5  -  Its businesses expected to be 'even more adversely affected' in Q2 By: Michelle Quah ONG Beng Seng's flagship Hotel Properties Ltd (HPL) slipped into the red in the first quarter of this year, as war in Iraq and Sars
      FILE PHOTO  -  382 words
    • 258 5  -  By Denesh Divyanathan UNITED Food Holdings said yesterday its net profit surged 117 per cent to 123.7 million renminbi (5525.7 million) in the first quarter ended March 31 from 57 million renminbi a year ago. The much better showing was achieved as the
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    • 320 5  -  Turnaround from $52m loss aided by $2&3 m gain from sale of book business By Michelle Quah LISTED publishing and media company Blu Inc Group, formerly known as MPH, has returned to the black for the financial year ended March 31, 2003, helped substantially
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    • 284 5  -  By Beth Jinks TRANSPORT logistics group Airocean's net profit and turnover more than doubled to $6.2 million and $335 million respectively in FY2003, boosted by guaranteed profits from its April 2002 acquisition of freight forwarder Wice Holdings. Airocean's pre-tax profit was $9 million for
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    • COMPANYBriefs
      • 91 5 THE Land Transport Authority (LTA) yesterday launched $500 million worth of bonds comprising $300 million of 10-year bonds at a coupon rate of 2.159 per cent per annum and $200 million of 20-year bonds at a coupon rate of 2.9 per cent per
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      • 41 5 CLIPSAL Industries yesterday reported a net loss of $804,000 for the three months ended March 31, reversing earnings of $56,000 in the same period last year. Turnover fell 8.4 per cent to $38.3 million.
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      • 75 5 GIKEN Sakata has returned to the black with a net profit of $693,000 for the year ended March 31. This compares with a net loss of almost $6 million previously. Turnover was $136 million, up from $91 million. The electronics parts firm also said
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      • 45 5 MAINBOARD-LISTED electronics contract manufacturer Huan Hsin Holdings yesterday posted a 41 per cent jump in net profit for the first quarter ended March 31 to $4.6 million. Turnover surged 125 per cent to $62.9 million from $28 million previously.
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      • 58 5 CITIRAYA Industries, which processes and recycles electronic waste, overturned a net loss of $252,000 in the first quarter last year when it posted a net profit of $229,000 for the three months ended March 31. The better showing was on the back of a 251
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      • 36 5 PROVISIONS Suppliers Corporation yesterday said net profit for the first quarter ended March 31 fell 17.5 per cent to $1.5 million. Turnover dipped 1.5 per cent to (35.8 million.
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    • 465 6  -  Sources say funds for plant's cost of over $5m may come from public listing By Kenneth Lim WITH everyone else scrambling for a slice of the China pie, Henry Loi figured that Mexico was his big enchilada. One year into his appointment as managing
      ARTHUR LEE  -  465 words
    • 653 6  -  nftHI lock siew quak hiang whai IN case you have been holidaying on Mars and still haven't noticed, corporate manoeuvres and asset transactions by major market players have picked up sharply since Temasek Holdings introduced its charter in the middle of last year. And, you
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  • Page 3 Advertisements
    • 366 3 f I m M ll' "111 M" >1 I I'" i j&*-*." y; > Jr* I I r* 1 jk E-Space Interiors' renovation f Mj i Ji Ite. Mjj packages will not blow your JB i l budget. Creatively put together, our residential and commercial packages boast thc latCBt Ixl
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  • SINGAPORE markets
    • Article, Illustration
      321 4 OTHER SINGAPORE INDICES May 28 VALUE CLOSE VTOB/OS 346.00 +378.00 BTCAM -*****.00 +242.00 BT 10-day MA -*****.00 >34.00 AH-SGE<)«ibM 364.20 _±3.68 SG Equftfes Elact 126.29 +1.93 SG Equities Fia 1120.18 +1.00 SG Equities Prop 328.18 +2.92 MmVmtiymn 165.22 +1.98 SMSCI FatHTM 165.90 +3.00 Stock. Volume Chart SemiCond 26c 77.137.000 NewWave
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    • 274 4  -  HOT STOCK/ WARRAHT By Ven Sreenivasan RAFFLES Medical Group's stock has been on an uptrend since mid-Febru-ary, when it was at a low of around 25 cents. The stock closed a cent up at 37 cents yesterday its highest close since
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    • 601 4  -  ■I i comment STOCKS ven sreenivasan A STRONG overnight showing on Wall Street gave the local market some "oomph" yesterday, although trading sentiment was speculative and largely mo-mentum-driven. With talk of corporate action receding, attention turned to companies that are poised to report
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    • 547 4 Bat yen's gains tempered by fears of intervention by Japanese authorities AFP [TOKYO] The US dollar edged down against the euro yesterday after initially rebounding on profit-taking in the European single currency, dealers said. The euro, which hit a record U551.1933 in European trade
      AFP; REUTERS  -  547 words
  • 3311 4 UNIT TRUSTS FUNDS Com Global Hearth mdei Fd 0807/ Com Global Telecom Index Fd 0 4.11/ .i Com Global Infotec Index Fd'" 0 283/ ssr ifX SSSSX3SS=. as s£ K JlsS Com S pore Bond Fi*xV* 1109, Star Asian Tiger Eqty 0629/ Cnto Agricott Asset Mgt S'pore Ltd Star Asia
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  • Page 5 Advertisements
    • 15 5 Reach your shareholders and potential shareholders by publicising your company's financial results in our newspapers.
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    • 72 5 The Village Centre Adjoining Land Redevelopment Site At South Buona Vista Road/Pasir Panjang Hill The Village Centre and Adjoining Land Established residential enclave Short drive to CBD Near NUS and Science Parks mm m Site area 44,623 sq ft (approx.) Part Commercial/Residential GPR 3.0 1.4, storeys Tender June 2003 (Wed),
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    • 772 5 lICLIPSAL CNpMHnduaMM(HoMlnos)UmNMl 11 nrawwMi Announcement of First Quarter Financial Statement The Board of Directors of Cllpsal Industries (Holdings) Limited is pleased to announce the unaudited financial statement of the Group for the first quarter ended 31 March 2003 as set out below: 2003 2002 SSOOO SS'OOO 1. Revenue 38,341 41,855
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  • Page 6 Advertisements
    • 3488 6 Notices PUBLIC NOTICE fV |p£ INTERNATIONAL FINANCE CORPORATION ENVIRONMENTAL REVIEW SUMMARY IhTIINATKHAL FPiAKT COUOtATX* Disclaimer This Knv ironmcnlal Review Summary is prepared and distributed in advance of (he IK H.iard of Directors consideration of the proposed transaction. Its purpose is to enhance the transparency of IK"s activities. and this document
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  • SINGAPORE news
    • 444 7  -  Adjoining freehold sites seen to have combined market value of $25-28 m Bu Kalpana Rashiwala PARTNERS Nat Steel and Breezeway Development are selling The Village Centre at Pasir Panjang and three adjoining residential sites, said to have a combined estimated market value
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    • 218 7 THE Urban Redevelopment Authority has made available for application by developers a choice residential site next to Kovan MRT Station. Property consultants estimate that the site on the URA's reserve list could attract offers of about $250 million. The 99-year leasehold site can be developed
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    • 276 7  -  Staff must prepare for painful revamp of system, he warns By Kenneth Lim SINGAPORE Airlines (SIA) employees must prepare for painful measures as their company undergoes restructuring to correct a wage system that "got out of line", National Trades Union Congress
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    • 141 7 THE world's first fully online university, Universitas 21 Global, yesterday invited admissions to its Master of Business Administration (MBA) programme. Headquartered in Singapore, Universitas Global is a consortium of 16 world-re-nowned universities, including National University of Singapore, University of British Columbia, and University of Nottingham. The
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    • 154 7 THE Media Development Authority (MDA) has issued a video-on-demand (VOD) trial licence to local company TIVIT Technica. The licence allows TIVIT which distributes TV set-top boxes and provides VOD services to conduct a six-month trial to deliver community-based, infotainment-on-demand services to TV sets via broadband
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  • Page 7 Advertisements
    • 84 7 Where to wine, dine and entertain... b: jtfKfe A World ofExdusive Privileges Treats wwwuunersxom-sg "JJhsrmanonat /ii v I Spring Court IpjUqj The Oldest J 1/ Chinese Restmurant in XVX Singapore since 1929. 74 Anniversary Special PEKING PUCK Limited to one per table with min. order of $50 onwards. 3® "•tSSiiCr
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    • 47 7 Try our popular iteifexa) Kway Teow or Mnxste®? ©©st? Kway Teow Mon-Fri: Lunch from 11.30 am onwards For reservations, please ca*****1 2138 44)1 M»cPkrr*on KoiJ, Singapore )***** WYW Tel: 634} UOSS Fas: 6343 0033 HOTEL www.tiotelwinds.ir.com. tvl N L)SOl\ (tiwnrj W Ho Bcr I VvrLipiwnt. hr Uil
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    • 366 7 Call toll-free 1000 289 8822 FORM 69 (3) NOTICE OF INTENDED PREFERENTIAL PAYMENT Nome of Company NISSI MEDIA (S) PTE LTD (In Liquidation) Address ol Registered Office c/o The Liquidator's Office Last day for receiving Proofs 28 July 2003 Name of Liquidator MR. DON M HO, CPA Address c/o DON
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    • 101 7 INTERNATIONAL FACTORS (SINGAPORE) LTD SSSO.OOO.OOO Floating Rate Notes Due 2006 Pursuant to CONDITION 15 of the Notes, notice is hereby given that, in respect of the Interest Period from May 29, 2003 and ending on (but excluding) November 28, 2003. (a) the Rate of Interest payable upon the principal amount
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    • 362 7 K .»ft **5 B ■JT Mllfl!!jlißfti M M Superior Type Deluxe Type Executive Type An easy way to own a Batam factory from SSS/sqm (from coverage area). Built-in area available from 1,000 6,000 square metres Good Business Environment: Only 18 km from Singapore (45 min ferry ride more than 100
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  • EDITORIAL & opinion
    • 783 8  -  HTTT4 I bottom line OPINION anthony rowley THE spectre of deflation is once more stalking the world's largest economies and what should come as a surprise to us ordinary mortals is not the fact that this is happening but that the central bankers and
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    • 39 8 'We always thought there was a continuum, from autocracy to democracy. But it turns out that you can get halfway there and just stagnate. And that's where Russia is.' Michael McFaul an analyst, on post-Soviet Russia
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    • 637 8 EDITORIAL IT is a demand which has serious consequences, not just for the company, but for the economy as a whole. The Airline Pilots Association Singapore (Alpa-S), which represents about 90 per cent of the roughly 1,800 pilots employed by Singapore Airlines (SIA), has demanded that
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    • 1288 8  -  As M'sia turns to small businesses to boost economy, S pore goes for a pro-enterprise movement Is this enough? By Yang Razali Kassim MALAYSIA'S special economic package this week unveiled a slew of new schemes, backed by huge funds, to support small businesses. The
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    • 325 8  -  MAlLi.klb Ong Seng Eng Head. Resource Conservation Department National Environment Agency Singapore I REFER to the letter by Mr Leong Sze Hian, "Singapore should reduce its energy usage" (Mailbag, May 5). Energy is a factor of production. Using per-capita based indicators to compare energy efficiency of
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    • 179 8  -  Mdm Goh Teng Kiat Singapore I AM not sure if Prima's offer made on May 21,2003 to take the company private is a fair deal for minority shareholders. My simple reason is that the NTA per share as at Dec 31, 2002 was $7.57 and
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  • EXECUTIVE suite
    • 650 9  -  Named one of the world's best buildings, the hotel is set to reap dividends from the award By Vince Chong FULLERTON Hotel is set for an occupancy boost if all goes well following its crowning as one of the world's best buildings in the leisure category
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    • 572 9  -  GARDENFR'SITWI By' Thien IT was the most overgrown section of the sprawling nursery in Bah Soon Pah, practically a dump for odds and ends, and fertile ground for weeds. But there, among tangled pots of various forgettables, I found my Cymbidium aloifolium. The wild tropical
      THIEN  -  572 words
  • Page 9 Advertisements
    • 1595 9 Notices X Chiao Tung Bank Co., Ltd. (Development Bank incorporated in Taipei, Taiwan R.0.C.) BOARD OF D|RECT R S Chairman NTS in US$ in Managing Directors Mr. Duai Tsai, Ph. D. ASSETS Thousands Thousands Mr. Pao-Shang Wai Cash and due from banks 89,483,737 2,572,851 Securities and investments tnen (Net of
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    • 210 9 118 0 ,<7 JOO CHIAT Brand new commercial building 4 storeys with elevator Large regular floor plates Approximately 14,400 sf (enbloc/naming rights) Subdivisible from 1000 sf onwards 9 private parking lots Walking distance to Paya Lebar MRT Soto Markabng Agent Commercial 653 I 8677 6531 8666 MB "prime address unbelievable
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  • REGIONAL news
    • 467 10 KUALA LUMPUR Carmaker plays catch-up as rivals already have their partners Bloomberg PERUSAHAAN Otomobil Nasional Bhd, Malaysia's biggest carmaker, known as Proton, has ignited interest in its shares with a plan to revamp itself and seek partners. Some investors question whether the rally
      Bloomberg; Source: Bloomberg  -  467 words
    • 285 10 KUALA LUMPUR Successor likely to be picked from existing ministers who are also MCA members AP MALAYSIA'S Transport Minister resigned yesterday, five days after he stood down as leader of a key party in the ruling coalition to defuse a factional dispute. Ling Liong Sik
      AP  -  285 words
  • Page 10 Advertisements
    • 1305 10 I Bumiputra BSU I I Commerce I I Balance Sheets As At 31 December 2002 Income Statements For The Year Ended 31 December 2002 I The Group The Bank The Group The Bank H 2002 2001 2002 2001 2002 2001 2002 2001 H RM'OOO RM'OOO RM'OOO RMOOO RM'OOO RMOOO RM'OOO
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  • SARS OUTBREAK
    • 337 11 Govt cites property stamp, huge Budget deficit as reasons Bloomberg [HONG KONG] Hong Kong said it will halt three land reclamation projects as the property market continues a five-year slump and the city faces a possible record Budget deficit because of the Severe
      Bloomberg  -  337 words
    • 257 11 AFP [SINGAPORE] Asian economies outside Japan are forecast to outpace the rest of the world and grow an average 5.6 per cent over the next four years, with Severe Acute Respiratory Syndrome (Sars) likely to have minimal long-term impact, a
      AFP  -  257 words
    • 516 11 Visitor arrivals in April plnnge 65% to 490,000 Bloomberg Reuters [HONG KONG] The drop in tourism caused by the Severe Acute Respiratory Syndrome (Sars) outbreak may have cut Hong Kong's gross domestic product by 1.8 percentage points in April and 1.7 percentage
      Bloomberg; Reuters; REUTERS  -  516 words
  • Page 11 Advertisements
    • 559 11 To advertise call toll-free 1800 289 8822 Email recruit@sph.com.sg IN THE HIGH COURT OF THE REPUBLIC Of SINGAPORE Componies Winding Up No 126 of 2003/G In tha Molter of Section 254 of Ihe Companies Act (Cap. 50) And In tfc* Matter of AU BUILDING SUPPLY PTE LTD (RC No. *****5285
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    • 503 11 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF ACT SHIPPING PTE LTD (In Members' Voluntary Liquidation) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly convened and held at D-***** Hamburg. Schoene Aussicht 14, Germany on the 26* day of
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    • 578 11 LOST CERTIFICATES The following share certificates have been reported lost, mislaid or destroyed by the shareholder and administrators of the Estate respectrvelyName of Company Cert Not No. of Shares Inttenamcol Jacks International Limited *****557 1.000 Yeoh Hoay Yam *****565 1.000 Yeoh Hoay Yam Rothmans Industries Limited *****511 1,000 Estate of
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    • 246 11 IN THE MATTER Of THE COMPANIES ACT. CAP. 50 AND IN THE MATTER Of VOLVO AERO SERVICES (SINGAPORE! PTE I.TD (In Members' Voluntary Liquidation I NOTICE Of FINAL MEETING NOI R E IS HEREBY GIVEN pursuant lo Section V# of the Companies Act. Cap V) that Ihe Einal Meeting of
      246 words
    • 792 11 HSBC Republic HSBC REPUBLIC BANK (SUISSE) SA Head Office 2 Place du lac. P() Box 3580. CN-1211, Cienewt 3. Switzerland Singapore Branch 21 Collyer Quay. »14-01 HSBC Building. Singapore *****0. Telephone. 6224X080 Fax: *****14b BALANCE SHEET STATEMENT OF INCOME (laCHFOOO) (IaCHFMO) Dk 31, Dec 31 Yarn** Year ended aooi p
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  • REGIONAL world
    • 427 12  -  It expects 4.5% full-year expansion, despite slowdown dne to war, Sars From, Diana Oom Abdullah in Kuala Lumpur THE Malaysian central bank yesterday announced first-quarter economic growth of 4 per cent, and reiterated that it expected a 4.5 per cent expansion
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    • 221 12 WASHINGTON LAT-WP THE Bush administration on Tuesday announced plans to sign the US-Chile Free Trade Agreement on June 6. ending its diplomatic cold-shoulder treatment of the South American nation for failing to support the war in Iraq. The planned ceremony would come
      LAT-WP  -  221 words
    • NOTEBook
      • 75 12 Bloomberg [BANGKOK] Thailand's economy will slow in the second quarter as a virus outbreak causes visitors to cancel trips to Asia, leaving empty seats on planes and unoccupied rooms in Phuket's resorts, the finance ministry said. Second quarter growth may be as low
        Bloomberg  -  75 words
      • 111 12 AFP Reuters [HONG KONG] Hong Kong Chief Executive Tung Chee-hwa yesterday announced plans for a three-month review of the city's health system by a panel of international medical experts in the wake of the Sars crisis. An 11-member body consisting of experts from the US,
        AFP; Reuters  -  111 words
      • 60 12 AFP [KUALA LUMPUR] Malaysia's Prime Minister Mahathir Mohamad leaves this week to join an informal dialogue on the sidelines of the G-6 summit in France on June 1, in one of his last international appearances before stepping down in October. He will be attending in
        AFP  -  60 words
  • Article, Illustration
    1078 12 TranaactUni date: May 28 QfTERBAMK CROSS RATES AS C$ Rmb Euro HK$ Ind »s Bupiah Yen Wow HI IIB Wih Mo S$ towd Sh *TS 8afct Hmi USS Australia 0.899 5.424 0.555 5.097 30.674 53.722 0.76* 7.S46 2.483 1.128 37.641 34.700 1129 5.366 0.844 ***** ***** 0399 0354 Canada
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  • 1619 12 SIC01PUTURES May2t RUBBER Futures (Closing prices) RSS1 (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Jun 03 178.75 Jul 03 171.00 Aug 03 ***** Sep 03 164.25 RSS 3 (US cents/kg) Volume Open Month High Low Sett (tonnes) Interest Jun 03 102.50 102.50 102.50 450 i250
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  • WORLD news
    • WORLDWatch
      • 67 13 AFP [SEOUL] Creditors have decided to put SK Global, the ailing trading arm of South Korean conglomerate SK Group, under court receivership for liquidation, a spokesman for top creditor Hana Bank said yesterday. The liquidation of SK Global, whose fraudulent bookkeeping triggered a liquidity crisis
        AFP  -  67 words
      • 93 13 AP [WASHINGTON] The US said on Tuesday it was lifting most remaining sanctions on Iraq, freeing US companies to do business with the country for the first time in nearly 13 years. The action followed a UN Security Council resolution last week that ended
        AP  -  93 words
      • 87 13 Reuters [TOKYO] Japan's Economics and Finance Minister Heizo Takenaka (right) denied yesterday a newspaper report that he is considering leaving his job for a teaching position in the United States. "It's nonsense," he told reporters after leaving Parliament. The New York Times online edition
        Reuters  -  87 words
      • 69 13 Bloomberg Reuters [TOKYO] Sony Corp, the world's second largest consumer electronics maker, said it may close or combine some of its 52 factories worldwide to boost competitiveness against South Korean and Chinese companies. Sony also said yesterday that it would consider splitting its financial units
        Bloomberg; Reuters  -  69 words
      • 78 13 Bloomberg [WELLINGTON] Australia New Zealand Banking Group Ltd (ANZ Bank) may pay As 6 billion (Ss6.B billion) for Lloyds TSB Group pic's New Zealand unit, making it the biggest bank in the nation of four million people, analysts said. Melbourne-based ANZ Bank aims
        Bloomberg  -  78 words
      • 53 13 AFP [ZAANDAM, Netherlands] Dutch food retailer Ahold said on Tuesday that new accounting irregularities detected in the group's operations were mainly concentrated at its US subsidiary Tops Markets. But it added that similar irregularities appeared to have been uncovered in some of its other US-based
        AFP  -  53 words
    • 276 13 WASHINGTON Reuters US President George Bush was scheduled to sign into law yesterday a tax cut package totalling US$35O billion, an amount he once derided as "little bitty" but later embraced as a major down payment on future tax policy changes. The White
      Reuters  -  276 words
    • 479 13 WASHINGTON Executives will have to sign off on adequacy of checks and balances LAT-WP Bloomberg AP THE Securities and Exchange Commission (SEC) on Tuesday unanimously approved rules that will force executives at public companies to review safeguards for detecting financial fraud, a move that
      LAT-WP; Bloomberg; AP  -  479 words
    • 500 14 FRANKFURT Dollar has lost 30% against the euro this year; further drop seen AFP Reuters Bloomberg CONCERTED action by governments and central banks will be needed if there is a further rapid decline in the dollar, the International Monetary Fund's
      AFP; Reuters; Bloomberg  -  500 words
  • Page 13 Advertisements
    • 106 13 Have you grown enough to be recognised? Nominations for the 2003 eso.startup Award are now open. To be eligible, a company must: l| be a privately-held enterprise be under 5 years old (from date of incorporation) have a strong nexus T|fft w to Singapore* j \l£ have at least 1
      106 words
    • 1298 13 KRUNG THAI BANK PUBUC COMPANY LIMITED m B Head Office: 35 Sukhumvit Road, Klong Toey Nua Subdistrict, Wattana District, A M Bangkok ***** Thailand Singapore Office: 65 Chulia Street, #32-05/08 OCBC Centre, Singapore *****3 Tel: (65) 6533-6691. Fax: (65) 6533-0930 Balance Sheet Income Statement As at December 31, 2002 and
      1,298 words

  • 6006 14 Transaction date: May 28 w* t»ft Vol Day Last Quote GrfXv tXv GrVW MM MG«p Hl» Law Compawy Sale W- HMO) Low Buyor Safcr Cw W1 Sw3l ABNAmroNLG 56c 9 -12 34 1388 16.5 9 ACE Dynamits20c 14 +1 5 14 14 12.S 14 100 142.9 138 21
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  • 64 14 iSTL *2. <Wt» Mv GftM MM mem "P Cifiq rWW WN» I—> »T»r Mir Cw wt S«3I *10 89 Diamonds US8?80cd 4020 2700 ISOJUSTech US3740cd 800 3750 III" 555 555 IS MSG Spore USSSS ***** 8200 ISS4PSOO U*****cd ***** 8280 STOW US82S0cd Ill 1713 1230 ST1ETT100 1369 *13
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  • 1519 14 ■ijTL. *£L <«»• vnt MM mcj* **r l 1 Ciwpi«i *>• r—t W» l— turn Utm Cm m $3 i££& 5c H 5 71 125 12 115 125 21 in 1! 5 30 195 1,5 19 20 27 26 69 7.1 17 41 10 AS Auto 10c 18
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  • 314 14 u* Imt Val Day LMQuoU Gfttv W» GrtW MM MCaa LW Cl—m w- (HW Ml u» tayr HMm Cm HI jmk 134 81 AVJwwwngiAiSc A130cd *4 719 130 127 129 131 40 3 4 7.7 7 6 279.8 Cathay Pat 20c HK720 720 265 2.1 7.4 6 *****2
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  • Page 14 Miscellaneous
    • 180 14 CRYPTIC CROSSWORD ACROSS 25 Saw graduate detained 26 Accompany Filipino around 13 Turned up in a rare trous- Across: 1 Sal volatile, 9 Knee, n00n(3,5) seau (9) 10 Stethoscope, 11 Vile, 14 14 A couple of dock-watchers Suitors, 16 Special, 17 Signs, DOWN 4 are cheating (3-6) 1 8 Meal,
      180 words

  • 4903 15 Tratisaction date: May 28 HONG KONG vol hkrinci i6i 002 ***** MK$ '000 Hong Kong Electric 3120 <120 1764 Hongkong Chinw 0 80 unch ***** AlphaI General 0.24 unch 24 Hongkong Chinese ltd .0 80 unch ***** AnandaWingOn 001 unch 0 Hopewell Holdings 7 10 0 10 3081
    4,903 words
  • 2546 15 Transaction date: May 28 KUALA LUMPUR GeneralCorp .0.47 unch 87 ygl General Sod 1.26 unch 0 RM *1- C000) Genting 13 40 0.20 300 George Kent .0.25 0.02 39 ASM Realty 0.76 0 02 3 Globetronics Tech 4.94 0 14 622 Atone 0.72 0.01 163 GlomacBhd 1.60 0 06
    2,546 words
  • 723 15 Transaction date: May 28 m Ow ■> Om Omm MmanSk 040 0040 UM» 05? }«Q •0M0 C*C lit U90 -O ISO OOK til nw 0.490 Cj*MaLml 1.10 IWO .0010 OUf DM lt» «0.»0C Owimmsi aw ubo <iin mmthb< 0m 0.740 CBfOaoSk IN 1MB -OOK MnKnd»«30t is OB) «<LU0 Cnm*onO»*TO
    723 words
  • 569 15 BONDS WARRANTS L» Vat Cam Em fear '32 *m- rmm 0»0» Ufa lag u» AST) W*****1 5 2 3 1 16 57 213 13 Acma Ltd \MM111S 2 unch 175 1 50 447 4.75 18 Amtek W*****0 St 2 95 1 33 I 1.55 25 Armstrong W*****0 2 unch 415
    569 words
  • Page 15 Advertisements

  • BizIT
    • 699 16  -  Distant guest speakers appear larger than life at virtual forum. Yangßaz&ll Kassim reports Yang Razali Kassim THE keynote speaker was Th a r m a n Shanmugaratnam, the soon-to-be education minister and former managing director of the Monetary Authority of Singapore. Speaking on a range of issues
      699 words
    • 208 16 Xinhua [BEIJING] Chinese Internet users with a poor command of English can now visit websites by typing in domain names in Chinese characters, according to the China Daily on Tuesday. The service was introduced by the China Internet Network Information Centre
      Xinhua  -  208 words
    • 212 16 Xinhua [LOS ANGELES] The demand for the Linux-based laptop personal computers made by Hewlett-Packard has been "overwhelming" on the Thai market, according to Tuesday's online edition of PC World. The laptops, priced at US$46B, come equipped with an 800-MHz processor from Via Technologies,
      Xinhua  -  212 words
    • 700 16  -  Iiicomment INFOTECH Just how compelling is wireless e-mail? The Blackßerry will tell kenneth james REMEMBER the nursery rhyme about the fine lady on a white horse, who rode a cock horse to Banbury Cross? "With rings on her fingers and bells on her toes, she shall
      700 words
    • 197 16 Reuters [SEATTLE] Microsoft Corp, which came under criticism last year for its shift to a new licensing plan that raised costs for some customers, said on Tuesday that it would enhance its licensing program for software upgrades. The world's largest software maker
      Reuters  -  197 words
  • Page 16 Advertisements
    • 281 16 jaamßß. A; sfl dikf >at:* *£fl «*■''^^F. f&: #S2l& ■l J|^sJ ?i v«* jfln&i ipr JH W* >s i JHr January Hj k* Discovered A May 5003 H -.''*?<• ;:i^^i -»4 Your current host based antivirus solutions (including desktop, server and email rtii*^** J WKtKt^KKKttK&'iu-rt I gateways) while generally effective,
      281 words

  • SHIPPING TIMES
    • 272 17 Reuters THE Baltic Dry Index fell 54 points to 2218, the Baltic Capesize Index fell 89 points to 2989, the Baltic Panamax Index fell 62 points to 2114 and the Baltic Handymax Index fell 107 points to *****. TIME-CHARTER: Anangel Solidarity (built 1993) *****5 dwt 14.5 on 55
      Reuters  -  272 words
    • 277 17 MX '000 M*y2l SS *1- Yoi CWT Distribution 0.58 0.03 68 Chuan Hup 0.39 0.01 1541 CH Offshore 0.20 0.01 280 Cosco Investment ...0-27 0.01 8315 Freight Links 0.05 0.01 300 GB Homings 0.63 0.03 47 Jaya Holdings 0.34 unch 306 Kepp*i Corp 4.56 0.02 1001 KlVtnturt 0.19
      277 words
    • 639 17  -  Hai Soon Diesel company director pleaded guilty to bribery charge By Beth Jinks [SINGAPORE] Singapore's third biggest bunker supplier, Hai Soon Diesel Trading Pte, has had its trading licences suspended by the Maritime and Port Authority of Singapore (MPA) after company director Lim Kim
      639 words
    • 381 17 NYT [MIAMI] An injured crew member of a cruise ship which suffered a boiler room explosion has filed a suit in Miami against the shipowner, Norwegian Cruise Line (NCL), and its parent, Star Cruises of Malaysia. He is seeking punitive and compensatory
      NYT; AP  -  381 words
    • PORTShots
      • 141 17 Reuters [OSLO] World Nordic Shipping on Tuesday reopened a US$l.4 billion takeover offer for Norwegian shipping line Bergesen until Wednesday after failing to win full control. World Nordic, controlled by the Sohmen family of Hong Kong, said it wanted to buy at least 3.5 million
        Reuters  -  141 words
      • 68 17 Bloomberg [AUCKLAND] Ports of Auckland Ltd, New Zealand's largest port, said the volume of containers it handled in April rose 13 per cent from the same month last year. The company, which handles about half the containers shipped to and from New Zealand, shifted the
        Bloomberg  -  68 words
      • 80 17 [SINGAPORE] Tasman Orient Line has added Port Taranki in New Plymouth, New Zealand, to its multi-purpose Southeast Asia service. The five-vessel service will call New Plymouth every 15 days—the last port of its New Zealand rotation—providing fast connections to Surabaya, Jakarta, Manila, Subic Bay
        80 words
    • 536 17  -  AET sale to Misc set to be completed by end Jnly By Beth Jinks [SINGAPORE] Neptune Orient Lines (NOL) shareholders yesterday unanimously approved the sale of its oil transport division American Eagle Tankers (AET) to Malaysia International Shipping Corporation Berhad (Misc). NOL announced its
      536 words
    • 246 17 Bernama [KUALA LUMPUR] Malaysia International Shipping Corporation Bhd (MISC) posted a lower pre-tax profit of RM1.31 billion (*****.2 million) for the financial year ended March 31,2003, a 7.4 per cent fall on the previous year's RM1.42 billion. MISC attributed the fall to the
      Bernama  -  246 words
    • 667 18  -  NEWBUXLDS -By David Hughes AS the accompanying table shows, China Shipping Development is among the latest to sweU the number of VLCC (very large crude carriers) on order around the world. And the number of newbuUdings of all sizes of tankers is growing
      FILE PHOTO  -  667 words
    • 114 18 PAGE BSA 4 B'tangMas 6 CM A CGM 3 COSCO 3 Columbus 5 China Shpg 5 CWT Globelink ...4 Delmas 4 Dongnama 3 ECL 3 Far Shpg 5 Foong Sun 5 Fujitrans 2 Gemartrans 4 Hangli 4 E Hyundai 4 Heung-A 3 I IRISl 5 Kapal Kris
      114 words
    • 8341 22 THEBUSINESSTlMES EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest n Same Nan* Number Number SIN Dest'n Nam* Name Number Number 05/04 18/04 Kien Hung CHARLOTTE SCHULTE HNS 65 *****133 To ABIDJAN (ABJ) 2003 Cot* D'lvoire 21/04 cma com csav Montreal oms
      8,341 words
    • SHIPS IN PORT
      • 547 23 Vessel Voy Wo Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL ATLANTIS 7 A7147 J3 A/SIDE 29/05 0630 CAGAYAN 26 J5 A/SIDE 29/05 2100 FORTUNE SEA 0305 J10/11 A/SIDE 29/05 0800 LABROY 158 EBLS13 J2 A/SIDE 29/05 1200 PAC VALOUR 73 J12 A/SIDE 29/05 0400 PAN OASIS V018 J8 A/SIDE
        547 words
      • 1964 23 CONTAINERS TERMINAL AND VESSEL SCHEDULES Vessel Out In Bth Berthing Un Berth Name Voy Voy seq berthing Nmbr ABU DHABI C244W C244W 1 **********00 0106/2003-02 00 B06 AC* MARGUERI 018S 0185 1 **********00 02/********** ACX VIOLET 056N 056N 1 3105/2003 1500 01/06/*****300 ALAMJAYA 2 8846A 8846A 1 **********00
        1,964 words
      • 132 23 May 29 Indonesia: Ascention Day France: Ascention Day Germany: Ascention Day May 31 Brunei: Armed Forces Day Jul China: Children's Day. Job 2 Italy: Anni of the Rep. NZ: Queen's Birthday. Joa 4 Hongkong. Tuen Ng Festival. Taiwan: Dragon Boat Festival. Jon 9 S Korea: Memorial. Jon 7
        132 words
      • 851 23 THIS report, compiled by Cockett Ma rine Oil Ltd. shows price ranges in US dollars instead of single prices for a more comprehensive description of the market Prices shown are based on average sized stem Market movements are indicated. The Cockett Bunker Price Index change and
        851 words
      • 517 23 Carlo* 00 Mm 1005.1 0.7 15.6 0.08 M4 0.03 May 22 OmMy KaUr lesMw A:i HI hi Sifaii Mo Mm E25 5 0 4 0 I 0 %H/a 380 Aw *2.6 0-3 13.6 0.04 18 0.02 Uwm 380 IUI 995.0 LS 18.0 0.07 74 0.04 »m/m
        517 words
    • AIR & LAND transport
      • 513 24 Inspection of a 1997 incident had revealed defect but it was not disclosed to NTSB sleuths AFP [WASHINGTON] Airbus, the world's largest jetmaker, knew of a fatal flaw in the tailfin of its planes five years before a fin snapped off
        AFP  -  513 words
      • 559 24 British Airways needs to focus on cost-cutting analysts Reuters [LONDON] Richard Branson's Virgin Atlantic has taken aim at larger rival British Airways by entering tie-up talks with a UK regional carrier, but analysts expect little impact on BA as it motors ahead with
        Reuters; FILE PHOTO  -  559 words
      • 249 24 Reuters [HONG KONG] Hong Kong's main carrier Cathay Pacific Airways launched discounted flights on Tuesday to lure back travellers. Meanwhile, its smaller rival Dragonair said it had seen the first pick up in bookings for weeks. Cathay, whose business has been devastated by
        Reuters  -  249 words
      • 385 24 AFP [TAIPEI] Taiwan's EVA Airways will cancel flights to three Japanese cities in June as passenger loads have sharply dropped because of the Sars scare, a company official said. Severe Acute Respiratory Syndrome (Sars) has claimed 76 lives and infected 596 people on
        AFP; FILE PHOTO  -  385 words
      • 434 24 It will be renamed Astar Air Cargo on completion of the purchase Reuters [WASHINGTON] A federal judge on Tuesday said he would press ahead with deciding if DHL Airways is a US-owned company, even as it moves towards new ownership and a new name
        Reuters  -  434 words
      • 118 24 Bloomberg [SHANGHAI] Hainan Airlines, whose largest shareholder is US financier George Soros, said it is slashing its proposed dividend by two-thirds to save 29.2 million yuan (Ss6 million) after Sars hurt travel demand. The carrier, based in the southern Chinese island of Hainan, will cut
        Bloomberg  -  118 words
      • 1621 24 an tuowt no nurn no BM Ml MM Ml M KM 109 M OS MM VB M W» 228 WO W 5WI M or* *40 ori2 228 hm mm n MM MMM BUT 1495 ***** 01)0 «5 H5 tifW 2255 WW M M 55 —> M
        1,621 words
  • Page 17 Advertisements
    • 19 17 HBH Virgin's tie-up Hh talks E£m|U. won't affect BA Airbus knew of taiffin flaw before 2001 crash BACK PAGE
      19 words
    • 209 17 ■KKpniRH Call toO-frce 1800 289 8822 The cargo shipped under the Bill of lading No MOLU *****1178 is presently lying at PSA Keppel Terminal Yard KO9. The persons entitled to claim the cargo has not claimed for the cargo. PSA had notified MOL (Singapore) Pte Ltd that they would be
      209 words

  • Page 18 Advertisements
    • 706 18 ■Ete^ttSHEtiEssSßSEßaS^**^^ TSIMPORT NORTH AMERfCH AUSTRALIA/NEW ZEALAND I SUPER SHUTftCW» IC tSftQ [AUSTRALIA ASIA EXPRESS jAAX) I JB» WT a |"l WW VPSa I VOY I 0N( I SYP IH| AM Htt ■5« PIS OOQ AMEXKA MWI9 14/ M 11/06 03/ M API IVOtT SON 11/05 14/ M 17/#$ 10/ M
      706 words
    • 510 18 Lines services represented by |M Members of the Registry ol I Sjntfopow Shippng Association gj|| ULY UNE MALE f rasa VOT ETA in HA A r. KLAWG SfOtl mu Princess lily 0503 04/06 06/06 15/06 Moid Corrier 739 A 13/06 15/06 24/06 Princess Uly 0603 23/06 25/06 03/07 Mold Star
      510 words

  • Page 19 Advertisements
    • 1153 19 TO USA (SAX SERVICE) rasa vot six eta lax oak mi hou chi cot mum mi nyc AftSMDCN 0071 04/06 19/06 23/0* 24/0* 24/06 24/06 24/06 21/0* 27/06 27/06 API HOLLAND 1171 11/06 26/06 30/06 01/07 01/07 01/07 01/07 01/07 04/07 04/07 AMtNGLANO 11* 10/06 03.07 07.07 00/07 00/07 0»/07
      1,153 words
    • 1689 19 "mcAMovtsißviciraoa. ■■■■kV SUMAFOH TOBUCKSUfUratTSW OBWUgmWE) If DAYS MOMBBOII M ***** U4B/OMSIi HUL SZH£ssi?«ES!!uwiei S COSTAR SNIPPING PTE LTD SSmVE?' mwn) mum/n I CONHANTZA (ROMANIA) 23 DATS I m. ihihmmwi IB; *77* IW (MM) ■OTOP/O' *****714 *2MS3If/4f I UWr 1 78/OfWOM t/Wlg *****12S t»S)lt/« I JOHorsowtt: (Obvwtwui *4 20 si so
      1,689 words
    • 548 19 rasa wrrin SR6 JP GAMIAMUM HO7» 130/5 I 4/5 5/5 IQ7S 12/5 >4/5 HITHIIHUM QIS I 31/? .ITS WZ HUM MUM Wit I t/t pi7T IV6 177T1W 7\/h MfTMI BHUM OK I 7/4 10/4 11/4 HUWSA BHUM H067 113/6 111/4 \l/i ?4/4 24/4 71/4 MfTHI IHUM 03S I l</4 17/4
      548 words

  • Page 20 Advertisements
    • 1029 20 HMI HYUNDAI MERCHANT MARINE CO., LTD. HmiMH; I—?l^—i Q MO. 120+7M0Q0QH ivesa vot sm sou uh «m ant w| Ifrosa vot I sou Il» tra ant hu |mv| Ul HTFRHDON 311W I*/M 10/ M M/M M/M M/M MX PRECISION OOOE 02/05 o]/tS 71/04 71/64 20/05 CORAL l'/«S M/M 10/* I!/*
      1,029 words
    • 22 20 SiMFWIMII Bunkum Bunker? Check it out in Shipping Times daily Bunker reports. FOR STRAIGHT TALK ON SHIPPING MATTERS EVERY WEDNESDAY SHIPPING TIMES
      22 words
    • 473 20 yN\ WAN HAI LINES X TEk *****588 FAX: *****163 INTRODUCING:- NEW WEEKLY EXPRESS SERVICE TO: HODEIDAH PORT SUDAN CALLING SIN EVERY THURSDAY TWICE WEEKLY EXPRESS SERVICE TO: JEDDAH CALLING SIN EVERY TUESDAY THURSDAY* For more details, call HOTLINE: *****588/1000-*****00 w? 3! Wtt m Iffl JAKARTA TP asu arms nu S/S
      473 words
    • 636 20 I BSA x MYANMA FIVE STAR UNE (Myeww Nrtwd Um) *Ksa vot pi n m MMN 3MW SU> NPMM 107W SU) M RAIATStA: OOUSTtAD SNIPPING MOCKS Kid: 03-*****)00 HI: 03-317M101 04-*****02 BANK LINE (A MfVKt fc*twW*SM»<D 1 NOHTHBOUNP TO EUKOPE V CONUMB, RORO, nuu t HUVYUFTS w m HMK NUU
      636 words

  • Page 21 Advertisements
    • 1267 21 [VESSEL VOY KHH HKO |«N I MCI I PXI 0A» DMM MC MAN TEHRAN PCL 313 27/05 28/03 31/05 01/06 o*/06 09/06 16/06 It/06 UNOAVIA PCL 314 03/06 04/06 07/06 04/06 15/06 16/06 22/06 24/06 IRAN KERMAN PCL 315 10/06 11/06 14/06 15/06 22/06 23/06 29/06 01/07 IRAN ISFAHAN PCL
      1,267 words
    • 490 21 UK CONTINENT SERVICE Loading tor SMART RDM/ATW/BMN/UK/NAN GULSER ANA RDM/ATW/BMN.OJK/NAN Loads Singapore. E/W Malaysia, Indonesa MIDDLE-EAST SERVICE Loading for PACIFIC SUN II JOH/AQA MARILIS T DBI/ABU/DOH/BRN/DMM/KWT J SAFE D6I/ABU/DOH/BRN/DMM/KWT LOK MAHESHWARI JOH/AQA Toads Srigapore. E7W Malaysia. Indonesia USA SERVICE Loadrigtor ALFONSO MZLAAX/VCW SEA BEE CAM/NFK/SAV/NOL toads E7W. Malaysia. Indonesia F.E./S.E.A,
      490 words
    • 917 21 58i sb fa ma m MI jq *M rm 30/05 MMUHffll 7 M 47 29/05 31/05 "gf essi iLzss 3i/t? Mtmn i2u KM_zSmH PH« 07/04 MfUTt? ana HM__azM_ Kg* 8418 03/8* 03/0* pkortor 9204 09/04 n/04 ma am nm IH^^HTFnvnPrTrTTIM^^H PXIMM OHM 05/04 04/0* P4C UmA WMH ~t 07/06 07/0*
      917 words


  • Page 23 Miscellaneous
    • 124 23 HHHH i jf ir »sp "■aaaBBBSBi. I 11 'm j_ 4 1 5r j> y Issued by Meteorological Service Division,NEA LEGEND: <x Thunderstorm Wind speed symbols V Showers Full circle w/o line indicates calm or light and vanable winds Rain One half fleche represents 5 Knots Cloudy Day One full
      124 words