The Business Times, 30 July 2003

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Total Pages: 26
1 26 The Business Times
  • 15 1 MITA (P) 024/03/2008 85C THE BUSINESS TIMES SINGAPORE I Internet http://business-times.asial.com.sg WEDNESDAY. JULY 30. 2003
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  • 507 1  -  exclusive Mm to avert retrenchment and stave off shift to cheaper locations By< Chuang Peck Ming [SINGAPORE] Pre-emptive layoffs? The labour movement is pushing ahead with wage reform before employers can even think of retrenchment. It is focusing on 50 big
    ARTHUR LEE  -  507 words
  • 600 1  -  And Fed won't raise rates till middle of 2004 Gail Foster Byi Anna Teo [SINGAPORE] Others may speak of the prospects of a US recovery in tentative tones. But to Gail Fosler, the Conference Board's chief economist, there are no ifs or
    BRYAN VAN DER BEEK/ST  -  600 words
  • 775 1  -  I-11 exclusive But offer letters are cancelled only if there are *very strong* reasons By Siow Li Sen (SINGAPORE] You've got your letter of offer and are well on your way to owning your dream home. But did you know that
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  • 74 1 □sn UNJI (-6.28) ST MDEX RIYURES 1,583.00 (-12.00) nSIMSCI FUTURES mM ISSJtO (-0.90) Tuesday Change KLSE (X)MP ***** +344 NIKKEI 225 9.***** -5.60 HANG SENG _I0.I98.60 +€3.72 SET INDEX ***** 119 JAKARTA OOMP _511.47 132 MANILA OOMP .*****3 -3153 TAIPEI WP1 *****6 ***** SEOtTLOOMP ***** *453 SHENZHEN B 229.08
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  • 80 1 FOREX RATES US$ S$ USS (S$ per rs$) 1.763 £(I'SS/8S per 1128 1855 EIROfl'SS/SS/EI. 1.151 2.818 YEN 119J 68.10 RM 3.HUU 2167 HKS 7.799 4 448 BAHT 42.02 2197 RIP1AH 8*00 4.905 RENMINBI 8199 4.714 INDIAN RUPEE 46.14 2632 AS 1.504 0.858 NZ$ 1.699 0.969 PMKRA1ES SINGAPORE* 535 KUALA
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  • Page 1 Advertisements
    • 154 1 INSIDE COMPANIES SembCorp, SembLog shares sink on fraud discovery Pg3 Cycle Carriage interim up 46%; plans $248 m rights Pgs MOTORING Volvo closes in on arch-rival BMW Pgl4 EXEC MONEY Problems of emotional investing Pgi6 The Lang* Datograph. This unmatched technical masterpiece "Made in Germany' is a new Lange milestone
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    • 5 1 IRI 8 "887 8 r*****4
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  • NEXT page
    • 460 2 LATEST US DATA Conference Board index suffers unexpected fall as concerns aboat joblessness pile np AP Reuters Bloomberg [NEW YORK] Consumers, nervous about rising unemployment, lost confidence in their economic prospects in July, resulting in a sharp, unexpected drop in sentiment, according to
      AP; Reuters; Bloomberg  -  460 words
    • 612 2  -  OTOCi Matthias Ym backs gnt call far flexible waft systems, especially in non-union sector Byi Chuang Peck Ming {SINGAPORE] Employers are coming in for a lot of flak for the slow progress of wage reform. And file labour movement is the latest
      612 words
    • 346 2  -  Tokyo once &gftin tops the EIU ranking while Hong Kong comes fifth By Daniel Buenas [SINGAPORE] Although the cost of living here has dropped, Singapore remains one of the 15 most expensive cities in which to live, according to the latest
      346 words
    • 124 2 Woridwkte cost of Iking fMNK CUMMTHtt/tOl art MO ff^f TlSiii tW I 17 Qoporfwyw no 7 15 Qeruva 112 7 17 Rrt 112 0 29 Bertfr* 110 10 I 8 London 100 li a v)w m ft 90 HMM WL It 1 7 ~Hm+* 11 9T K 1
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    • 539 2  -  Contract spans 14 countries, including S'pore, for 10 years By] Raju Chellam [SINGAPORE] In yet another major global IT outsourcing deal, US giant IBM Corp has just won a US$l.l billion contract from Europe's largest electrical engineering company, ABB Group,
      539 words
  • Page 2 Advertisements
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  • SINGAPORE companies
    • 414 3  -  Brokers concerned about governance as it's SembCorp's second restatement By Wong Wei Kong SHARES in Singapore's SembCorp Industries and its unit, SembCorp Logistics (SembLog), tumbled yesterday, as investors sold the stock after the group cut revenues and profits for the past three years
      Source: Bloomberg  -  414 words
    • 485 3  -  flocksiew^ wong wei kong INVESTORS hate nasty surprises, but the SembCorp group has been dishing them out one after another in recent months. It surely begs the question of how tightly the ship is being run. In the latest instance, discrepancies totalling more than $18 million
      485 words
    • 411 3  -  It is now planning a $200 m note issue to raise capital By Ven Sreeniwasan FRASER Neave shareholders yesterday gave the green light to a capital reduction plan that will slash the beverage giant's outstanding shares by some 14 per cent. Under the
      411 words
    • 268 3 OK, so you have just a handful of shares. And your vote doesn't carry as much weight as that of the fellow sitting next to you who has amassed a quarter of a million shares. But who cares! What really matters is that
      268 words
    • 604 4  -  It wins bid to ran scheme by heavily discounting own loan packages By Siow Li Sen DBS Bank last month won the bid to sell home loans to civil servants by undercutting its own packages by almost 100 basis points. A bank
      604 words
    • COMPANY Briefs
      • 90 4 SNP Corporation and parties acting in concert with It look 9et to own at least 75 per cent of Hong Kong-baaed Leefung-Asco Printers Holdings. Its unconditional mandatory cash oSw closed yesterday with valid acceptances for 82.7 million sham, or 20.52 par
        90 words
      • 47 4 CREATIVE Technology Ltd's Malaysian unit Coble Electronics has inked a memorandum of understanding with Kolcj Unlversltl Teknlkal Kebangsaan Malaysia. Under the deal, both will share their experiences in technical education and develop skilled and technical professionals. Cubic runs the largest manufacturing facility for Creative.
        47 words
      • 40 4 DBS Group Holdings Lid (DBSH) has appointed Kwa Chang Seng, chairman and managing director cf ExxonMobil Asia-Pacific, to its board of directors. Mr Kwa. 56, is also chairman of Media Corporation of Singapore.
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      • 49 4 SINGAPORE Power, parent of Singapore Power Telecommunication* (SPT), Mid most of the tatter's 89 staff had either been redeployed within the group or had voluntarily taken early retirement, said Channel NewsAsia. Ten were retrenched. SPTs cable duct leasing operations have been outsourced to sister company PowerGrid.
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    • 504 5  -  Funds to be used to pare debt; company posts 46% rise in first-half net profit By Vince Chong CYCLE Carriage (CCL) yesterday proposed to raise up to $248 million with a one-for-three rights issue, its first in more than 10 years. The
      ARTHUR LEE  -  504 words
    • 469 5  -  Sooth Asian ops, including S'pore, see 28% rise in operating profit By Kalpana Rashiwala RETAILER Dairy Farm International reported an 83 per cent drop in first-half net earnings to US$44 million in the absence of a previous US$225 million exceptional gain from the disposal
      469 words
    • NEWS Roundup
      • 84 5 THE Sars outbreak dragged Wee Cho Yaw's Hotel Plaza group into the red for the second quarter ended June. Net loss was $2 million, or 0.49 cent per share, against net profit of $1.8 million, or 0.45 cent per share, in the previous 02.
        84 words
      • 55 5 PROPERTY group United Overseas Land, also part of the Wee family stable, saw a 13 per cent drop in net profit to $23.7 million for the second quarter ended June. Revenue fell 16 per cent to $96 million. Earnings per share slipped to 3.87
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      • 60 5 HONG KONG-BASED Mandarin Oriental also took a hard knock. For the six months ended June, it suffered net losses of US$6 million against net profits of US$l2 million previously. Turnover declined to US$243 million from US$272 million previously. Loss per share was 0.75 US
        60 words
    • 261 5 STANDARD Poor's says Cheung Kong's Fortune Reit (real estate investment trust) could have an upside potential of 2.1 to 15.7 per cent but also warns that rental rates could decline in Hong Kong. "An uncertain Hong Kong economy could prolong deflation risks and
      261 words
    • 499 5  -  Its first-half profit before property revaluations falls 13% to USsB4m By\ Kalpana Rashiwala HONGKONG Land won't follow in the footsteps of Cheung Kong Holdings, saying it has no plans to float a Real Estate Investment Trust (Reit) in either Singapore or Hong Kong.
      AFP  -  499 words
    • 202 5 HELPED by its apartments division's return to the black, Capita Land's Austra-lian-listed subsidiary Australand Holdings yesterday reported a 67 per cent jump in first-half net profits to A 541.2 million (Ss4B million) and projected a 10 per cent increase in its full-year earnings.
      202 words
  • Page 3 Advertisements
    • 91 3 Motors United BMW again introduces the superlative to luxury: the BMW 760U with the new Vl2 engine. Setting new standards in automotive technology, performance and comfort, this striking limousine hat the stee and presence to turn heeds wherevar ft travels. its innovative powar plant features the Performance Motors Limited Performance
      91 words

  • Page 4 Advertisements
    • 2096 4 I SOT 1 IDT HOLDINGS (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore with limited liability) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of IDT Holdings (Singapore) Limited (the "Company") wiH be held at The Executives' Club, 65 Chulia Street, OCBC Centre. #33-01. Singapore *****3 on Thursday, 21
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    • 825 4 I /or I IDT HOLDINGS (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore with limited liability) NOTICE IS HEREBY GIVEN that the annual general meeting of IDT Holdings (Singapore) Limited will be held at The Executives' Club, 65. Chuka Street, OCBC Centre, *33-01, Singapore *****3 on Thursday, August 21, 2003
      825 words

  • Page 5 Advertisements
    • 149 5 r —> r —> fl ~~V Winner Ist Runner-Up 2nd Rnnncr-Up Phillip Securities Pte Ltd Cornerstone Planners Pte Ltd First Principal Financial Ms Lisa Lee Mr Michael Lee Pte Ltd (Head of Financial Advisory) (Principal Officer) Mr Mohd Saiim (Principal Officer) Winner Ist Runner-Up 2nd Runner-Up Ms Seah Hsiao Wen
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  • SINGAPORE markets
    • Article, Illustration
      292 6 OTHER SINGAPORE MOKES Jul 29 VALUE CLOSE IT mn* -374.00 -26.00 ITCUDI -*****.00 -98.00 ITlHayMA -*****.00 -37.00 mmt+Mm 425.06 -1.09 MImMiiIiiI 152.07 -0.85 WpW—Hi 1344.61 -2.37 MfMMiiPnp 395.05 -2.37 194.98 -0.52 MBCIFrt— 196.20 -0,90 MuWVtoHK7c 101,892.000 Frontline 5c 76.453,000 lntWT*5c 27,457.000 RJYuM*10C 25,229,000 IP0020C *****.000 AslaFcxxJ&Prop... 19,118,000 Coaoolrw20c 18,712,000 Chart
      292 words
    • 600 6 Consumer weakness before business investment picks np is ominous Reuters [NEW YORK] The dollar's gains against the euro and yen eroded yesterday after US consumer confidence for July disappointed investors by falling despite expectations for a gain, setting a gloomy start to a
      Reuters; AFP FILE PHOTO  -  600 words
    • 707 6  -  J i comment STOCKS Brokers also cite nervousness about penny stocks after curbs ven sreenivasan THE market slipped yesterday after a mixed overnight close on Wall Street led local players to cash in some of the profit from the recent uptrend.
      707 words
  • 33 6 UNIT TRUSTS FUNDS lfGCND:Alprieaa>«MkaftManpt tar bi Rnggtt Aaak Bnadhr MvanMM; I Marrowty hxumi; I umm ■Mb »kmvto Madhan DMc ft MMhant* HUWHUdMctipMnM:* M>un mtaftuJon o> unte H* Mf HA-Non OMftnf Day; Hoar MvSHJIS
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  • SINGAPORE news
    • 566 7  -  It is said to have pipped Nokia and a Siemens-led group for the $200 m order By Angela Tan SWEDISH telecom equipment maker Ericsson AG may have pipped rivals to emerge the winner of Singapore Telecommunications' multimillion dollar tender to roll out
      FILE PHOTO  -  566 words
    • 461 7  -  Foster: Provide service with unique characteristics By, Anna Teo [SINGAPORE] Instead of trying to succeed by being cost-competitive, small economies like Singapore should go for "value capability" in today's China-cen-tric world, says Gail Fosler, the chief economist of the Conference Board. China is rapidly
      461 words
    • 180 7 Xinhua [JAKARTA] Indonesian President Megawati Sukarnoputri and Singaporean Prime Minister Goh Chok Tong wUI inaugurate 470km long gas transmission pipeline which connects South Sumatra of Indonesia and Singapore on Aug 4, an oil executive revealed on Monday. The inauguration
      Xinhua  -  180 words
    • 386 7  -  Number of subscribers climbs to &34m in Jnne By' Tang Weng Fai THE local mobile phone market is taking another step closer to saturation, as latest data from the Infocomm Development Authority (IDA) shows that mobile penetration has exceeded 80 per cent for the first
      386 words
    • 255 7  -  By. Leonard Lim BRIGHT students at Chinese High can soon have a seamless educational experience from secondary to tertiary level. In a milestone initiative, talented students from Hwa Chong Junior College and Chinese High (collectively known as Hwa Chong) will be able to enrol in
      255 words
    • 369 7  -  =M 3 on the economy travel By] Leonard Lim COST is what matters when it comes to travel for a majority of Singaporeans. In a MasterCard poll, the Asian Lifestyle survey, 60 per cent of Singaporeans listed cost as the greatest influence in their
      369 words
  • Article, Illustration
    1017 7 Transaction date: Jul 29 DfTBRBAlTK CROSS RATES C$ 80 If IKS Mh o»m rm wmi m m Httb Hm 0 00 0* iff 00 Hmt 1 Aastrai* 0.920 5517 0577 5.84 30.6(8 57.69 0.793 7J35 2520 U29 ***** ***** Ui5 4JH 0J93 22J54 27.929 MM 144S Cana4a 1.087 5.999
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  • Page 7 Advertisements
    • 46 7 I THE MONETARY AUTHORITY OF SINGAPORE li y Average Yield Price 1.16% p.a. and 108.268% I of Competitive Applications at Cut-off Allotted Approximately 54% I of Non-Competitive I Applications Allotted 100% K Issue Code N*****0A (Reopened) I ISIN Code 5G********** I Maturity Date 15 October 2005
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  • EDITORIAL & opinion
    • 791 8  -  17TT3 bottom line OPINION william pesek jr Bloomberg AS ASIAN nations panic over rising currencies, India remains calm. Its easy-going approach towards strengthening the rupee should be a lesson for the region. The search for economic role models rarely, if ever, leads to India.
      Bloomberg  -  791 words
    • 51 8 'If you want me to talk, I can talk till I am blue in the face. I can give explanations or unsolicited advice on how Asian countries can exert influence over the world.' Malaysia's veteran prime minister, on the limits of his influence after he retires in
      51 words
    • 558 8 EDITORIAL JUST as the Philippines looked to be regaining its foothold economically and politically, along comes yet another coup attempt Although this one was peacefully put down within 24 hours, it serves as a sobering reminder of how much Manila still needs to do to fix
      558 words
    • 1052 8  -  Using technology to empower the masses is a growing phenomenon which promises social restructuring on a worldwide scale in dne course By Shib Shanhar Dangupta DURING the last five years, rapid transition from the industrial economy to the digital economy has witnessed massive corporate
      REUTERS  -  1,052 words
    • 336 8  -  maili rm Seah Seng Choon Executive Director Consumers Association of Singapore (Case) I REFER to the letter "Why so sceptical of AIA, Case?" (Mailbag, July 28). We would like to state that we have never advised affected policyholders not to accept AlA's offer.
      336 words
    • 200 8  -  Denis Distant Singapore I USUALLY use the various machines at banks to do my banking. But recently, I had to take a queue number and wait my turn. It took 45 minutes before I reached the counter at Standard Chartered Bank in Scotts Road. I had
      200 words
    • 234 8  -  Sim Beng Choon Singapore DEREGULATION, night spots, bar-top dancing and nudist beaches will not make Singapore a fun place. Such things may give enjoyment to a few mostly single business stayers. But the bottom line is: No place is a flin place if the whole
      234 words

  • REGIONAL news
    • 495 9 CYBERJAYA, Malaysia The Multimedia Super Corridor has surpassed its targets: DrM AFP BRITISH banking group HSBC and Sweden's telecoms firm Ericsson yesterday launched regional centres here in a boost to Malaysia's bid to become a high-tech hub. Prime Minister Mahathir Mohamad launched HSBC's
      AFP; AP  -  495 words
    • 484 9 JAKARTA Govt can finance budget, hlmwf of payments if reforms continue, it says Reuters INDONESIA'S decision to end its International Monetary Fund (IMF) loan programme this year shows "tremendous improvement" in the country's economy and the government will be able to finance next year's
      Reuters  -  484 words
    • 449 9 AFP [CYBERJAYA, Malaysia] British banking group HSBC said yesterday a "sudden invasion' of Malaysia by foreign banks is unlikely when the financial sector is liberalised in 2007. Foreign banks might have more operational flexibility but may "not necessarily gain" because there are in
      AFP  -  449 words
    • NOTE Book
      • 81 9 AP [PHNOM PENH) Prime Minister Hun Sen's party was assured of victory yesterday in general elections, but seemed likely to fall short of the two-thirds majority it needed to govern, forcing it to seek a coalition with hostile rivals. With vote counting completed,
        AP  -  81 words
      • 67 9 Bloomberg [JAKARTA] Hie Jakarta Stock Exchange halted trading of PT Bumi Resources' shares because the Indonesian mining company hasn't given enough Information about its proposed purchase of coal miner PT Kaltim Prima Coal. Bumi hasn't provided enough details on the conditions of the proposed transaction, Yose
        Bloomberg  -  67 words
      • 56 9 Xinhua [JAKARTA] Close to 12,000 Indonesian civil servants will lose their positions due to restructuring early next year, the daily Jakarta Post reported yesterday. "Civil servants who no longer hold structural, managerial positions will be relegated to skills-based functional positions," State Minister for
        Xinhua  -  56 words
      • 83 9 Bloomberg (HONG KONG] Arab Banking Corp is in talks with "at least" one party about the possible sale of its 55 per cent stake in International Bank of Asia, the Hong Kong-based lender said in a statement. The statement from International Bank
        Bloomberg  -  83 words
      • 63 9 Reuters [YANGON] Red Cross officials, allowed for the first time to meet detained Myanmar pro-democracy leader Aung San Suu Kyi, said yesterday she was in good health and high spirits after two months in government custody. Hie Nobel Peace laureate has been detained
        Reuters  -  63 words
    • 345 9 KUALALUMPUR Companies will be given grants for brand promotion THE government has set up an RMIOO million (5546.1 million) fund to help promote Malaysian brands internationally, the Malajh. sian Business Times reports. International Trade and Industry Minister Rafidah Aziz said the allocation, to be
      345 words
    • 453 10 SHANGHAI Central bank raises bill issue to 30b ynan for second consecutive week Reuters CHINA'S central bank is making fresh efforts to drain money from circulation after statistics showed a surge in money supply, fanning worries over potential inflation, bankers said
      Reuters  -  453 words
    • 253 10 HONGKONG Reuters CHINESE property firm Shanghai Land Holdings Ltd yesterday said it has begun legal proceedings against its chairman arrested tycoon Zhou Zhengyi and his wife Mao Yuping, claiming U5534.2 million. Shanghai Land, a Hong Kong-listed property development firm, said in a statement
      Reuters; APPLE DAILY FILE PHOTOS  -  253 words
    • 575 10  -  By Joyce Koh [SINGAPORE] East Asian economies are facing brighter prospects with an expected pick-up in growth for the second half and a stronger showing next year, according to an Asian Development Bank (ADB) report released yesterday. However, this optimistic assessment
      575 words
    • NOTE Book
      • 61 10 Bloomberg [HONG KONG] Hong Kong Exchanges Clearing Ltd, which runs the city's financial markets, plans to open an office in Beijing to attract more listings from China. The office "will farther strengthen our communications and relationship with the China Securities Regulatory Commission and other relevant
        Bloomberg  -  61 words
      • 91 10 AFP [BEIJING] Canon, Japan's largest maker of office equipment, plans to set up its Asian marketing centre in Beijing amid ambitious plans to boost its China operations, state media said yesterday. The marketing centre is meant to take over some of the functions currently covered
        AFP  -  91 words
      • 92 10 AFP [TAIPEI] Taiwanese authorities on Monday eased restrictions on the import of Chinese science and technology experts as part of the island's efforts to woo talent from abroad. Under the new measures, Chinese personnel engaged in science and technology research or sci-tech management and
        AFP  -  92 words
  • Page 9 Advertisements
    • 773 9 Cal toll-free 1800 259 K22 IN THE MATTER Of THE COMPANIES ACT. CHAPTER 50 AND IN THE MATTE! Of TECHWAH PLASTICS INDUSTRIES PTC LTD (Members' Voluntary liquidation) At an Extraordinary General Meeting of the Mimbtri of TECHWAH PLASTICS INDUSTRIES PTE LTD. duty convened and hold on 25* Juty 2003 the
      773 words
    • 139 9 We are pleased to announce that with effect from 1 July 2003, the name of SGY Asset Management (Singapore) Limited has been changed to SG Asset Management (Singapore) Ltd. This name change ensures consistency of SG Asset Management's global brand and is part of the Group's strategy to reinforce a
      139 words

  • 1492 10 BlOUMFUTUHBg Jul 29 KSSKScMbAD Close fttmm OpM —Ml M# Low Sag (town) lotoroat A«| 03 179.75 Sep 03 175.75 OR 01 174.00 Nov 03 ***** ISS 3 (US carts/kg) VoiMN OpM mm IN* Lot Sett (tomec) Merest Am 03 02.00 ***** 102.00 2400 3700 Sop 03 100.00 98.75 99.75
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  • WORLD news
    • 926 11 NEW YORK Citigroup, JP Morgan helped Enron defraud investors SEC NYT ENRON lied to investors about its financial condition, but it could not have done so without active help from its friendly bankers. And that help constituted fraud. That was the conclusion reached
      NYT  -  926 words
    • 381 11 MILKWAUKEE He also says the US economy is 'springloaded' to bounce back AFP Reuters US Treasury Secretary John Snow said yesterday that China was considering relaxing its yuan currency trading band and urged the country to do so. During an interview to be aired
      AFP; Reuters  -  381 words
    • 161 11 NEW YORK Reuters CITIGROUP Inc, the world's largest financial company, won a contract to service US$3OO billion in assets handled by seven in the Fedaog-Home Ltmti Bank sy*Mfe Cftfgroup beat Bostonbased State Street Corp, the world's largest custodian with US$B.5 trillion in assets, in getting
      Reuters  -  161 words
    • WORLD Watch
      • 119 11 Reuters [NEW YORK] American Express Co on Monday reported quarterly earnings rose 11 per cent and full-year earnings would exceed Wall Street expectations as consumers charged more and it gained card customers. Chairman and CEO Kenneth Chenault said he would sacrifice some of this
        Reuters  -  119 words
      • 100 11 Bloomberg [LONDON] UK insurer Prudential pic cut its dividend on common shares for the first time since 1914 after profit fell 27 per cent in the six months through June. Operating profit fell to £397 million (Ssl.l billion)or 13.8 pence a share, from £543
        Bloomberg  -  100 words
      • 105 11 Reuters [TOKYO] Honda Motor Co posted yesterday a 12 per cent fall in quarterly operating profit, hit by a sales slump at home and a weak US dollar, but raised its ftill-year forecasts on expectations for smaller currency losses. Operating profit for the three months
        Reuters  -  105 words
      • 85 11 Bloomberg [TOKYO] Sharp Corp said fiscal first-quarter profit rose 14 per cent helped by stronger sales of its Aquos televisions, cellular phones with built-in cameras and components. Group net income rose to 14 billion yen (*****.7 million), or 12.74 yen a share, in the
        Bloomberg  -  85 words
      • 117 11 Bloomberg [NEW YORK] Hamburger chain McDonald's Corp said 9econd-quarter profit fell 5.3 per cent because at an increase in advertising spending that helped boost sales in the US for the third month in a row. Net income dropped to U*****.9 million, or 37
        Bloomberg  -  117 words
      • 102 11 Reuttrs [TOKYO] More Japanese found work and households stepped up their spending in June, according to data released yesterday. But economists and government officials alike were quick to say the economy was not out of the woods just yet At 5.3 per cent the unemployment rate
        Reuttrs  -  102 words
    • 445 11 WASHINGTON AFP THE Pentagon plans to let online traders bet on the likelihood that Palestinian leader Yasser Arafat might be assassinated, or that Jordan's King Abdullah II might be overthrown, as part of an effort to predict and prevent terrorist acts. The scenarios
      AFP  -  445 words
    • 497 13 NEW YORK Letters may boost rivals' efforts to derail its plan for bankruptcy re vamp Bloomberg WORLDCOM Inc chief executive Michael Capellas was told by SBC Communications Inc three months ago that his company was illegally avoiding millions of dollars in access
      Bloomberg; BLOOMBERG  -  497 words
  • Page 11 Advertisements
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    • 66 11 EEr $5.80 Nett Per Item With FREE Chotce of One Cotfee/lea/Soft Drinks or Chin Chow Oyako Don (Chicken Egg with Rice) Penang Fried Kway Teow Slice Fish Hor Fun Hainanese Mutton Stew Sautled Chicken with Chinese Sausage It'sT^fcrttme All Day Mag#s4.M nett each Juf#Sls.oo nett each lt*44 'l"" For enquiries,
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    • 62 11 I MERITUS MANDARIN SINGAPORE T Quintessential Sty l& A The Mezzanine Ty Relish an alluring fashion extravaganza against a plush ambience and indulge in the special concoctions of the night. Every Thursday 3,10,17,24,31 July 2003 IT 9:30 pm to 10HM) pm Enquiries: 6831 6286/88 Mezzanne Q MERITUS MANDAtIN tftlt 333
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  • 6 12 Transaction date: Jul 29
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  • 474 12 BONDS WARRANTS Last M Cm Enr Dim fiaar-'Sfia C—p—y **a rmm —«e Mm >ag Uft AST1W*****1 1 16 13 125 11 AcmaLtdWMIIIi 1 1 50 364 11.00 16 AmMk W*****0 »1 -0.5 80 1 33 1 1.40 23 Armstrong W*****0 -0.5 77 1 10 12 3.13 10 BousteadWO4O0O2 V -05
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  • Page 12 Advertisements

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  • 1612 13 la« Ml My IMQH OOfer Mr CftW M MCa f tin* Ma w- rmm MM t— 3mm s«6er cw m U 24 73 AMHklgik 20 w«h 2S6 20 20 20 20.5 386 30 15 APCMSc .28 -05 284 265 255 26 285 21 N2i 4 95 228 33
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  • 285 13 a-Wk Ml Mi Oar IMQMI Mb Mr CftH Ml MCap i—i u» CT w- rw» i— Mj» SM cw 1Ct r AVJennmgi A25c A155 *2 156 154 155 156 40 3.4 6.5 9 HI* CMhaytaXk HK720 265 11 74 6 *****2 Owwg KongSOc HK17K 240 6J 6.7 3
    285 words
  • Page 13 Miscellaneous
    • 312 13 CRYPTIC CROSSWORD 7 What aristocrats get in vain, H we hear (4,5) j I 8 Hit on the head by furious ~~ta™ 10 A view of the sea in a Saudi 1 Scrupulous and hardworking, WM Hfl[ |_j iHI even if coarse (8) PV flH__pH 12 Chap one may account
      312 words

  • BT motoring
    • 733 14  -  The humble hatchback has been grabbing market share this year, finds Samnel Ee Samuel Ee ONCE it was a niche car. But today, the hatchback is becoming a major player in the Singapore car market. Since late last year, it has been growing steadily in numbers and currently
      733 words
    • 398 14  -  SM Motors says Volvo XC9O SUV helped drive sales By Samuel Ee AFTER selling a record number of cars last month, Volvo distributor SM Motors is confident of closing the gap on its nearest rival BMW. SM Motors registered 206 units in June, against
      398 words
    • BUMPER to BUMPER
      • 75 14 VOLKSWAGEN Group has posted a 4L5 pap cant increase in the number of vehicles sold in Asia-Pacific in the first half of 3000. The group, which includes VW, Audi, Skoda, Lamborghini and Beuftoy, delivered 378,011 vehicles. Tbs China market was particularly impressive. Increasing 5L8
        75 words
      • 68 14 MICHAEL Simcoe, 45. has been named GM executive director for Asia-Pacific design, effective Sept 1. He will take on the )ob while remaining responsible tor Holden's design effort as part ofhis regional rote. He joined Holden In 1983 and has been director of design there
        68 words
      • 89 14  -  Compiled by\ Samuel Ee WHAT looks like a Mini Cooper and Cooper S on a trailer have been plying the Orchard Road area. Hie two Minis on a trailer are actually a bus advertisement Their images have been pasted on SBS service No 7 single-decker buses
        89 words
  • Page 14 Advertisements
    • 1124 14 «9 BANCA WROMA (INCORPORATED IN ITALY WITH LIMITED LIABILITY) BALANCE SHEET (amount* In turn*) lamU 31 OaoanbarSOtt 10. Cash and balances with central banks and post offices 484,075.599 20. Treasury securities and other securities eligible kx refinancing with central banks 563,561,793 30. Loans to banks: 13,496,883,941 a) repayable on demand
      1,124 words
    • 25 14 Lianhe Zaobao I Father and son I I team at I I EZRA Holdings I I working I I IMtt&Rtt I l-awta" I I I
      25 words
    • 245 14 IN THE MATTER OF THE COMPANIES ACT. CAP.» AND DCM (SINGAPORE) PTE LTD Al ai Kitfioduiary (ieneraJ Meeting of DCM (SINGAPORE) FTK I.TD held on 24 July 2003. the following Special Resolution was passed WINDING-UP AND APPOINTMENT OF LIQUIDATORS Thai the Company be wound up sohintjmly pursuant lo Section 290(
      245 words
    • 150 14 »DS STEEL DfTAIIFKS PTE LTD* (In Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN thai pursuant to Section 308 of the Companies Act, Cap. 50, that the Final Meeting of the members of the Company will be held at 2 Havelock Road, *07-07 Apollo Centre, Singapore *****3 on Saturday, 30th day
      150 words
    • 181 14 NOTICE TO CREDITORS JE EHUEDB IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE COMPANIES WINDING UP NO. *****8 OF 2001 HENRY NEO HOLDINGS PTE LTD (Under the Order tor winding-up the above-named company dated 19 October 2001) Notice is hereby given that the first meeting of creditors in the
      181 words

  • COST management
    • 876 15  -  Reducing paperwork often leads to improved communication flow within an organisation, Daniel Bnenan learns Daniel Buenas E can lick gravity, but someM M J times the paperwork is overM M I whelming." ll So said German rocket scien1/ 11 tist Wernher Von Braun. Even Wj
      ST; IBM  -  876 words
    • 706 15 They can help companies cut costs and improve efficiency KNOWING that you have too much red tape and paperwork is one thing; finding ways to identify and remove excessive paperwork is another. A study conducted by Ernst Young a few years ago found that in
      Source  -  706 words
  • Page 15 Advertisements
    • 293 15 Get your finances rt for touqh times ELIMINATE UNNECESSARY ADMINISTRATIVE AND ACCOUNTING costs TWs executive forum on cost management aims to help you navigate the tough economic climate by sharing tips on how you can manage your business expenditure more effectively through spending controls, managed cash access and automated expense
      293 words
    • 3 15 M Corporate Services
      3 words

  • EXECUTIVE money
    • 848 16  -  Returns seen far more dependent on investment behaviour than fund performance, reports GENEVIEVE CUA GENEVIEVE CUA IF YOU still doubt that investors tend to be their own worst enemy, US-based Dalbar's latest update of an annual analysis of US investor behaviour should make you change your mind.
      Source  -  848 words
    • 1045 16  -  II?W1»]=< markets By Robert Halili THE market continued to climb with the Straits Times Index closing at 1,587 points on Monday, up by one per cent from the previous Monday. That brought the total gains in the market since May to 306 points, or
      1,045 words
    • 917 16  -  Byi Genevieve Cua IS this the end of the party for bonds? At the very least, temper your optimism. An analysis by State Street Global Advisers (SSGA) for its clients finds that while bonds have delivered a total annual return of 10.4 pa-
      917 words
  • Page 16 Advertisements
    • 286 16 I Financial Crisis Management r- If you are facing disruptions to operations arising I J WAI ACCOUNTING from any of these: I If you an facto, an, of these: Cash (tow problems I "messy" accounts arising from change of systems staff turnover Shareholders directors' disputes Mb|||ty a sUtutwy llnMm Sudden
      286 words

  • SHIPPING TIMES
    • 268 17 Reuters THE Baltic Dry Index fell 3 points to 2203, the Baltic Capesize Index rose 6 points to 2892, the Baltic Panamax Index fell 20 points to 2184 and the Baltic Handymax Index rose 43 points to *****. 'IUUMSAKUiI! New Brisk (built 1995) *****1 dwt delivery Hamburg 8/15
      Reuters  -  268 words
    • 245 17 MX '000 J*» a hi CWT Distribution 0.57 -O.OI 44 Chun Hup 0.43 unch 653 CHOffShora 0-28 0.01 5005 Cosco Invostmant —0.37 0.01 ***** FrataMUnks 0.07 -0.01 350 CBHoMnas 0.76 -0.03 80 HoMngs 0.42 -0.01 2667 KappOtCorp 5.40 0-25 1348 KlVantura 0.22 0.01 2445 KnU Tata 0.89 -001
      245 words
    • 856 17 Regional effort needed to tackle growing menace in vital waterway Bernama [SINGAPORE] Australia and other users of the Malacca Straits are prepared to look at assisting Malaysia combat piracy in the busy straits. The offers come as efforts are being made
      Bernama; AFP  -  856 words
    • 172 17  -  -By\ Beth Jinks [SINGAPORE] Japan s Nippon Yusen Kaisha (NYK) Line has set up satellite environmental protection coordination centres in Singapore, New York and London following its recent widespread implementation of ISO ***** environmental management system certifications. ISO ***** certificates were presented
      172 words
    • 268 17 AFP [COPENHAGEN] The Danish government has ordered an investigation into the true owners of a ferry in which 158 people died after fire broke out on board while it was sailing between Norway and Denmark in 1990, media reports said. Danish investigators
      AFP  -  268 words
    • 32 17 [MONTREAL] The old World War Two Canadian destroyer HMCS Nipigon sinks to the bottom of Ste-Luce-sur-Mer in Canada to finish her life as a play ground for scuba divers. AP
      AP  -  32 words
    • 281 17 Bloomberg [MIAMI] Royal Caribbean Cruises, the No 2 cruise-line operator, said second-quarter profit fell 16 per cent, less than expected, because it cut prices to sell trips. Net income dropped to U5555.7 million, or 28 cents a share, from U5566.7 million, or
      Bloomberg  -  281 words
    • 785 18  -  STRAIT TALK -By] David Hughes THE latest piracy figures issued by the ICC International Maritime Bureau make grim, if unsurprising, reading. In the first six months of 2003,16 seafarers were killed and the total number of reported attacks was up 37 per cent
      FILE PHOTO  -  785 words
    • 3 18
      3 words
    • 3 23 thebusinesstimes
      3 words
    • SHIPS IN PORT
      • 556 25 Vend Voy No B«fth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL CSAV SANTOS *****S J17/18 A/SIDE 30/07 1200 LUNGSOON 128 ***** J6 A/SIDE 30/07 2300 MAR FAITH 27/07 J22 A/SIDE 30/07 1000 MARCOPO 3222 04/03J J3 A/SIDE 30/07 0630 SENBOKU ACE 87 J7 A/SIDE 30/07 2300 THANH DA 6/03 J16
        556 words
      • 2 25
        2 words
      • 138 25 Angl China: Founding Chi PLA. Aaf4 Australia: Picnic Day. U Kingdom: Summer Hoi. Aug 12 Thailand: Queen's Birthday. Aaf 15 France: Assumption Day. Italy: Assumption Day. SKorea: Liberation Day. Ang 17 Indonesia: Indepen Day. An* 24 UKingdom: Summer Holiday. Ang 31 Malaysia: National Day. Philippines: Nat Heroes Day.
        138 words
      • 816 25 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 averagesized stem. Market movements are indicated. The Cockett Bunker Price Index change and the
        816 words
      • 445 25 Carton 180 Mm 991.7 0.6 16J 0.08 69 0.06 M17 Densttv Hater IiiMii AsAAJwaMaa Sedtoent No above £25 2 0 4 0 0 0 380 Ave 985.6 OJ BJ 0.05 19 0.02 Cn« 380 Mu 9911 3.0 IT J 0.09 57 0.08 w/iri %WA m/m »nrti
        445 words
    • AIR & LAND transport
      • 531 26 BA LABOUR ROW He warns carrier could go bust if unions block cost catting measures Reuters [LONDON] British Airways chief executive Rod Eddington, who got himself personally involved in negotiations with trade unions in an attempt to end a costly labour dispute,
        Reuters; AP  -  531 words
      • 292 26 Reuters [LONDON] BAA pic, the operator of London's Heathrow airport, has warned that it could suffer from dispute that has led to severe disruption at the world's busiest international hub, as it posted a drop in first-quarter profits. Industrial action taken by British Airways
        Reuters  -  292 words
      • 152 26 Bloomberg [NEW DELHI] Air India, India's biggest overseas carrier, will make a loss in the year to March 2004 after the carrier cut flights because of severe acute respiratory syndrome, which put people off travelling, the government said. Air India is forecast to
        Bloomberg  -  152 words
      • LOG Book
        • 108 26 AFP [MANILA] Philippine Airlines (PAL) said it has resumed some of its weekly flights to Hong Kong and Singapore as regional passenger traffic improves following the Severe Acute Respiratory Syndrome (Sars) epidemic. PAL reinstated seven weekly flights to Hong Kong, raising the weekly frequencies
          AFP  -  108 words
        • 90 26 Bloomberg [SEOUL] Asiana Airlines, South Korea s second-largest carrier, expects to make a first-half net loss after Sars and a decline in consumer spending at home curbed demand for travel. Hie airline will post a loss of 38.5 billion won (Sss7 million), compared with a profit
          Bloomberg  -  90 words
        • 92 26 AP [ATLANTA] Delta Air Lines and United Airlines agreed to end their frequent-flyer and lounge marketing relationship after each airline struck similar arrangements with other carriers. In separate statements on Monday, the airlines said award travel must be completed by Feb 29, the same date reciprocal
          AP  -  92 words
      • 223 26 AFP [BElJlNG] Flag carrier Air China has completed a longawaited merger with two smaller companies, giving it control of 26 per cent of one of the world's fastest growing markets, state media said yesterday. Planes and staff from China Southwest Airlines and Zhejiang
        AFP; FILE PHOTO  -  223 words
      • 68 26 [SHANGHAI] Chinese airline ticketing staff listening to an introduction by United Airlines, during a promotional and introduction session at a hotel in Shanghai. UAL Corp's United Airlines, the world's second-biggest carrier, held nationwide promotion and introduction events in China before it resumes all its flights to China
        AFP  -  68 words
      • 214 26 AFP [TAlPEl] China Airlines, the largest air carrier in Taiwan, may award a contract to British-based RollsRoyce on engine purchases worth about US$3 billion, the Economic Daily News reported yesterday. The report cited unnamed sources as saying that Rolls-Royce offered a more attractive discount
        AFP  -  214 words
      • 289 26 AIRLMECOOES AA Amman Antrm (AAL) Af Ar frm(M*).Al ArMm(AIC)AY fmrOyfF*) AZ AMataArtms(AZA) BA BrNsfi Anays Pvttc Lti Co aBG Hum liny*** Artm (BBC). Bt Rapt MtrmSdnßhdfßSAj BO flouraeArtws (BOU) 9R EVA Amirs Corpn (EVA). CAArChm (CCA), CB Amman mtamKm/Arkm IOCS), Ct OmuAgtrmLUfCAL) CSArMmrmm. Ik (MM) CV
        289 words
  • Page 17 Advertisements
    • 33 17 BA LABOUR ROW r|f7" CEO gets J. 4 involved in strike talks Heathrow dispute likely to hurt BAA Air China completes merger BACK PAGE I I i i |i iI;'H 1 JL m-
      33 words

  • Page 18 Advertisements
    • 850 18 I TOUSAICAHADA I EXPORT I I OTHER DCSTIMATtONS ~l Visa |vOT W6 |W^ff^U)M6KACn|PMIAS|HOICTM|— HM |OtCACO|NßNTtiii"j| TO AUSTRALIA (AUSTRALIA ABIA EXPRESS) rUMDUOrDSOUIMMPIM 3501 7»/17 30/07 IVM 19/H 77/W 20/ M 70/ M 73/ M ygja VOT l»S«l fit W —m~\ —n» M W OOdOMA MQ2 OVM H/W I 77/ M 7iM
      850 words
    • 430 18 A&*5K Lines 4 services represented by ZMSma Acoedrted Shipping Agwb, Singapore Shaping Association ULY UNE MALI f rasa vor ru fu eb A p. aims wm in Princess Lily 0703 03/06 05/08 14/06 May Star 541 A 13/06 15/06 24/06 Princess Lily 0803 23/06 25/08 03/09 Maid Carrier 741 A
      430 words

  • Page 19 Advertisements
    • 1166 19 TO EUROPE FROM EUROPE wssa Ivor an ar wm m mm m sou ~Hr~llwga iwrw w hw mi im m mmmwm 104*31/07 20/00 22/ Mi«/» m.mmm lOK W*/* "4E MamauM tmnm n/»2/2 22H22?" 8 35 IMS mmmnmm smwm/w nm •*'Vo? w* £-2 API IBM WW 07/10 27/ M 8/HB/M MM
      1,166 words
    • 1871 19 m mrSvsw mmmumm lfuvs H VCHVSI (VKIARR) huk mmuimmmmutm. w—>«h> saus/ngs is:mns«s7/41 nul mjmmi/m I mMHiiii immimii mam COSTAI SHIPMMfi Pff LTD "uiohmm minnbb/u mnsni umm/n I vwwwiii*(nMM) Z3DAR a«fcllM»*SS« TH: 4224 INI(UN) MNU»(D/0) 442M7M 42NS1U/H I u ike T/SMPKP MNSRS 42MSS14/44 I NHorsamo: uwumoMAi mnsim um»m I "PWT TUBMrsAWC
      1,871 words

  • Page 20 Advertisements
    • 691 20 IMI HQU—WOOKMO* WT7W4 HUb WWWM l-MML: Biw m |g| UCLIVIAO pocuMtwwmoiu/opKtnoMfc mamm huh tmmrn juwivm mail\umm reulioi am ctwom üboT do*u ri'ni [ii'r 33W 01/01 22/01 23/01 HAN 38/01 01/ Of 27/N 79/ M 31/01 IVW 01/W 03/W OVW fabjDdwi 2S/M 27/ M 02/W~ M/W IVW 31/B n/W M/W IVW
      691 words
    • 1180 20 WAN HAI WiaNAHONAL PTi LTD at IIHJIIMM/1 WIWAN HAI UNES V Ma »)BMßM;«nßMnH«;«nia«MnHtmannv»ua WWW lIM I| B&mSMMIBkIBDIBOaniKmM/TMM urns* Brans jw w "tctt m "tsi km 5i nw uar -ism -war ~ivr ■Ml Ml TIT na M M M MM H IIM IM Wi iw W lomut mm mm xm *w
      1,180 words
    • 413 20 BSA ikH MYANMA |B FIVE STAR UNE "cz;r=r vissa vot sm m pa km pagan mm su HP*-AM 307W SU M MALAYSIA: MVSTIAt SMPPM6 AGOKKS OL M-JI4J7JOO P*L 13-317M111 PBfc M-MI2MI BANK LINE UwrvlfffcrfrtwWitrTHnl WOKTiaOUND TO WOPTI V CONttlßt, ROtO, MM IHUVYIFTS vissfi m m mm mu amp FOYIBAW /SPIAS
      413 words

  • Page 21 Advertisements
    • 797 21 I VESSEL VOY KMH HKO SIN MCL PXI IA» PMM Mt MAN HORMOZOAN PCI 322 29/07 30/07 02/ OS 03/03 10/03 11/03 13/01 20/03 MAN TOMAN PCL 323 05/03 06/03 09/03 10/03 17/03 13/03 29/03 27/03 UNDAVIA KL 324 12/03 13/03 16/03 17/03 24/03 2S/03 01/09 03/09 MAN HUMAN KL
      797 words
    • 508 21 I k UK CONTINENT SERVICE Loading tor TMOfl LOTUS RTM/ATW/BMN/UK/NAN ZEYNEP KIRAN ROM/ATW/BMN/UK/NAN Loodi Sngapor*. E7W. Mrteym Mocmtm MIDDLE-EAST SERVICE Looting tor PAN BRIGHT AON/HDO/JDH/AQA LOK RAJESHWARI ADN/HDD/JDH/AQA J. FRIEND DBI/ABU/DOH/BFW/DMM/KWT LOK PRATAP DBI/ABU/DOH/BRN/DMM/KWT •Loocte Sngapora, E/W. IndoneM USA SERVICE Looting toT" QUI GON JINN CAMI/NFK/SAV/NOL PAN DYNAMIC VCW/LAX/MZL PACIFIC
      508 words
    • 980 21 rasa m an eh— -xbhl m m ml mwm >«» stziz iiziz_ ltn uzk—m— mum* mm um ti/g -SHSS 1 SK fifl! hkmmm im «zw w/w -SHHt iJH H42 —£52 JKJMM ma mm MM- ho—mi »tm rmim inn am nm ■^^^■flTninniiViVnH^HHl womba 100/* at/oo w/w ■■■■■UMUIUUULUIfIHH^H mi*** »fof o//w ZZSaZ
      980 words

  • Page 22 Advertisements
    • 495 22 InE^B«iirnß^!Bn TKBSHAM HMD 0540/00 IM 4/01 1120/00 I Tieasrr iosm om»/w isi7/oo an/n I KBSA 10NI 1213/W IMI/E *-27/01 I ncawa ***** ls-it/m 2224/00 n»/n I irasH«(^io««imM_?^a/o^^oswoJ hanw ffi iToffii «mo7m BUM I I MUM ill 07-00/W 13-15/00 23-74/01 I |JAM> 701 M-10/00 IS-17/H I |WilWK^4ol^lsiJi^lWW^2MM^J IvS^^^VOT^SWI raasmr inJupi »2V»
      495 words
    • 753 22 FREIGHT LINKS EXPRESS PTJUTDK 51 Penjuru Road, 3 Level, I Freight Links Express Logisticentre, Singapore *****3 Tel: *****511 Fax: *****577 i" E-mail: flesin@singnet.com.sg LCI SERVKE TO CIIU. PHIUPWWiS VESSEL j APL DUBAI V.012E ETA SIN 04/08/2003 ETA CEBU 23/08/2003 Booking 6267# 5565/4694/5535/5580/5541 /5508/5569/5560/5563/5514 PROJECT fir HEAVYUFT CARGO (CONVENTIONAL 6r RORO)
      753 words
    • 793 22 m PDZ LINES /m SINGAPORE: TONG XX) SHIPPING PTE LTD TEL 6221 1333 FAX 6221 5272 Shenton Eta 31 July:Hai| long, Pa tyang Qui Nhon CALLING SVORE EVERY THURSDAY For bookings and enquiries, Call: Jason Low 9742 3642 Customer Service *****596 fr* 1 j iMwsn mm oUI *iw »vw aw
      793 words
    • 234 22 rti mmmm BREAKBULK A CONVENTIONAL SERVICE DIRECT SERVICE FROM S 'PORE TO KARACHI iwssa mm mmurm n*MMoi~| Ibui turn ii/q/c a/w/wl SEA-PAC MANAGEMENT Hi. LTD. 70 Amon toad *17-07/0* Apex Tower, Sngqpor» *****9 Tehphen* ******77 vl rill ihnlii 6275 2309 T«lwc KS ***** SiAPAC DOttCTHN IIAJ»»0, DIRJL KOREA Ivcsa wtmi
      234 words



  • Page 25 Miscellaneous
    • 143 25 :sQi^^s-,,.;.% 1 ■ft* jf'"'Oft \3I HFx ■Emß^^* r m\ A Xl*— I X AA r<PL\ «w> f v|| I( X 2q AyqMML 26 f Issued by Meteorological Service Division,NEA LEGEND: K Thunderstorm Wind speed symbols Showers O Full circle w/o line indicates calm or light and variable winds R a
      143 words