The Business Times, 27 August 2003

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Total Pages: 26
1 26 The Business Times
  • 16 1 THE BUSINESS TIMES lOTA (P) *****0/2003 Internet: http business-times.asial com.sg SINGAPORE WEDNESDAY, AUGUST 27. 2003 850
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  • 636 1  -  BT exclusive Move to consolidate aged Jurong and Sembawang facilities By Beth Jinks [SINGAPORE] SembCorp Marine is preparing to build a single, large shipyard that will consolidate its aged Jurong and Sembawang facilities on the west coast. BT understands the proposed
    636 words
  • 75 1 □sn 1,600.02 (-30.37) ST MDEX FUTURES 1,604.00 (-33.00) n ■—ICI HItUWES M ItS 10 (-3.60) Tuesday Change KLSECOMP 741.02 114 NIKKEI 226 10,£e.5 7 +56.93 HANG SENG _10.75.193 -10.29 SET INDEX 531.06 +1.53 JAKARTA COM? _528.76 -0.28 MANILA COMP _U48£5 13.25 TAIPEI WPI *****5 ***** SEOUL COMP 753.00 -3.73
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  • 80 1 FOREX RATES us* ss US$ (SS per US$) 1.750 £(US$/S$ per U0 2.746 El'RO(lIS$/S$/E). 1.085 1.899 YEN 117 6750 RM 3.800 2.171 HK$ 7.799 4466 BAHT 4159 28.65 RIJPIAH 8,475 4342 RENMINBI 8399 4.741 INDIAN RUPEE._ 45.87 26.21 A$ 1550 0.885 NZ$ 1.732 0.990 MUME RATES SINGAPORE* 525 MALAYSIA
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  • 921 1  -  CPF RATE CUTS Relief package likely to target the poor and those with mortgages By Angela Tan [SINGAPORE] With CPF rate cuts looking increasingly inevitable to save jobs, the market focus has shifted to the relief measures Singaporeans can expect from the government when overall
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  • 694 1  -  BT exclusive 1970s era knock-for-knock system was outdated By Samuel Ee [SINGAPORE] Insurance companies in Singapore have adopted a new method to determine liability in traffic accidents and settle resulting damage claims quickly. The Barometer of Liability (BOL) was designed to standardise
    694 words
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    • 200 1 Emmm watches, watches, watche^. p Exnisivt mwvwws wife local tod International personalities mmewere* h jb < inousuy. run more unn > or display in BTs annual HF mj u EsbA^M Mil M H nHfi ££> INSIDE lAVUT US DATA US consumer confidence in August seesa strong bounce Pg2 WORLD NEWS
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    • 9 1 NGD warn works on 'No Blame'principle, Pg 15 m
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    • ON THE grapevine
    • 678 2  -  S'pore has to cut CPF contributions substantially and quickly to save jobs By Serena Ng [SINGAPORE] A trip to New York in early June led Deputy Prime Minister Tony Tan to realise that there was a fundamental problem with Singapore's economy, he
      678 words
    • 372 2  -  EYE on the economy manufacturing By Chuang Peck Ming [SINGAPORE] Industrial output made a poor start to the third quarter, posting an unexpected 0.6 per cent dip in July from the previous month. And compared with a year ago, last month's manufacturing production
      372 words
    • 456 2 LATEST US DATA New home sales dip but still stay above expectations in July Reuters [NEW YORK] US consumer confidence improved robustly in August as Americans pinned their hopes on brighter economic times ahead, a survey published yesterday showed. The Conference Board said
      Reuters  -  456 words
    • 88 2 OUR report yesterday, "SGX revamps to focus more on customers", said incorrectly that Daniel Tan will head the exchange's strategy and business development group. Mr Tan actually heads the operations group, which will manage securities and derivatives trading, clearing and settlement processes, and securi- ties depository functions. Peter Chia
      88 words
  • Page 2 Advertisements
    • 110 2 BPPI Southern IMnois University l||l Caftondale, USA sSi Congratulates Our Degree Ceremony E&SEEfflB^ presided by Prof. David Wilson, Dean off KffiPPPßBl^ the Graduate School Bg|j|j||||M and Prof. Richard Rivers, 88X&939 Director of HMKMMIM international Programs Raffles Hotel Casuarfna Suite B IJEEfi£EI£9H 31 August 2003 kformatkM Session 9tfc Make s %iP
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  • SINGAPORE companies
    • 379 3 Bank shares slide for 2nd day, wiping off a combined $1.7b from market cap Reuters SINGAPORE'S move to allow banks two more years to sell off non-core assets has upset some institutional investors, particularly those which had positioned portfolios for
      Reuters  -  379 words
    • 712 3  -  HOCK lock siew anthony rowley INTERESTING things are going on in bond markets and investors need to be alert to profit from the opportunities and avoid the dangers this situation presents. Emerging market issuers are rushing into global bond markets to take advantage
      712 words
    • 293 3 KWEK Leng Beng's Hong Leong Asia (HLA) has reported an impressive 87 per cent surge in first-half earnings, thanks to a 70 per cent jump in second-quarter profit powered by its building materials unit. The industrial and manufacturing arm of the Hong
      293 words
    • 297 3  -  Its Shanghai plant will operate at fall capacity for rest of the year By Kenneth Lim TYRE and alloy-wheel maker and distributor YHI International yesterday rolled out an interim net profit increase of 59 per cent and said its Shanghai plant will run at full
      297 words
    • COMPANYBriefs
      • 69 5 RAFFLES Medical Group yesterday posted a second-quarter net profit rise of 24.7 per cent to $1.55 million as revenue rose 8 per cent to $23.2 million. Revenue growth was contributed by Raffles Health which launched "Sars Protect" and nutritional supplement products during the Sars
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      • 47 5 Bloomberg KEPPEL Corp said its Chinese venture will be paid about $100 million for providing maintenance services at an airport in Guangzhou province in China. The venture, Guangzhou Baiyun Airport Facilities Management And Operation Company, is 25 per cent owned by Keppel.—Bloomberg
        Bloomberg  -  47 words
      • 41 5 K1 Ventures has returned to the black for the fUll year ended June. Profit was $12.3 million against a loss of $78.4 million previously, helped by asset disposals. Turnover rose to $63 million from $35.8 million.
        41 words
      • 37 5 IDT Holdings (Singapore), which designs and makes LCD display consumer products, posted a 127 per cent surge in first-quarter net profit to HK$2l.2 million. Turnover was up 3 per cent at HK5146.2 million.
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      • 47 5 EUROPTRONIC Group, a manufacturer and distributor of electronic components, said net profit jumped 63.1 per cent to $4.5 million in HI this year from $2.8 million in HI *02, on the back of a 5.6 per cent rise in revenue to $30.5 million.
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      • 26 5 MAYFRAN International's loss jumped 179 per cent to $2.86 million for the first half. Turnover dipped one per cent to $17.9 million.
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      • 36 5 POH Tiong Choon Logistics saw a 57 per cent rise in HI profit to $2.7 million, helped by tax provision writeback. Revenue fell 2 per cent to $23.5 million.
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      • 34 5 HOTUNG Investment Holdings said its second-quarter loss fell to NT$26 million (Ssl.3 million) from NT$357 million, helpedby improved economic and stock market conditions. Revenues soared to NT$7B.7 billion from NT$B.97 billion.
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      • 28 5 CUPSAL Industries posted a 59.3 per cent call in second-quarter profit to $1.74 million. Q2 turnover fell 1.7 per cent to $46 million.
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      • 26 5 UNITED Engineer's second-quarter net profit rose 41 par cent to $5 million, with turnover rising 13 per cent to $48.3 million.
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      • 48 5 Bloomberg C APTTALAND will pay Nat Steel US$B million for 25 per cent of a Shanghai real estate company that it doesn't own. The firm, Huteng Investment Shanghai, owns the Pldemco Tower in Shanghai. It includes USSB.7 million Huteng owes Nat Steel. —Bloomberg
        Bloomberg  -  48 words
    • 312 5  -  It helps to market innovations that can yield US$150m sales over 3 years By Kenneth Lim IF you have an idea and want to turn it into products that can yield almost US$l5O million in sales over three years, look for Giant Wireless
      312 words
    • 518 5  -  Subsidiary Innoled inks Oled deal with European partners By Amit Roy Choudhury MAINBOAKD-LIB IEL) Eastgate Technology will be looking for a strategic investor to leverage on two separate agreements its wholly-owned subsidiary, Innoled Pvt Ltd, signed yesterday with European partners to develop a capability to manufacture
      518 words
    • 521 5  -  By Teh Hooi Ling SINGAPORE'S Sesdaq was the third most liquid secondary market in the world in 2002, albeit a distant third after Korea's Kosdaq and America's Nasdaq, a study by Grant Thornton shows. In its Global New Markets Guide 2003, the accounting
      521 words
    • 244 6  -  It will provide capital for Indian companies, fund regional forays into India By Andrea Tan TEMASEK Holdings and Standard Chartered Private Equity have set up a US$lOO million fund to provide growth capital for Indian companies. Temasek and the Stanchart unit will have
      FILE PHOTO  -  244 words
    • 559 6 Water treatment firm expects to win more market share Bloomberg HYFLUX Ltd said it expects sales from China to increase by more than 90 per cent next year as it wins more contracts to increase its share of the country's US$5OO million municipal water
      Bloomberg  -  559 words
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  • SINGAPORE markets
    • Article, Illustration
      307 4 OTHER SINGAPORE INDICES Aim 26 VALUE CLOSE ■TOW 161.00 -295.00 ITCUPt -*****.00 -168.00 -*****.00 +16.00 432.19 -6.89 Willi ilinl 163.41 -1.70 WBpMwWi 1366.15 -28.36 392.73 -10.57 Pac Andes 20c 90,056,000 Pac Andes W*****0 31.768,000 DMXTechUS5c 25,473.000 Goodpacklc 23,621,000 L&Mlc 22,705,000 Sunntnglale 15c 20.418.000 Chart SemlCond 26c 18,879,000 Sinomem Tech 2c
      307 words
    • 839 4  -  BT comment CURRENCIES larry wee AFTER the euro and Swiss franc were hammered in the past week, it could now be the turn of the so-called commodity currencies to feel the heat from a stronger yen. The euro hit
      839 words
    • 668 4  -  BT comment STOCKS ven sreenivasan THE Singapore market fell for a second straight day yesterday following weakness on Wall Street and signs that the local economy may face a tougher-than-ex-pected battle to recover. Sentiment was also cautious ahead of tomorrow's announcement of changes
      668 words
  • 13 4 UNIT TRUSTS FUNDS LUIND. Ml prima** Mesa**aupt DliMiWiAlWiun>)riM«<;St—m ■Wc«Ln»«oIMbHcIMM SStaTld* *»*»>» Millet »A-wiP«*<n^.MWiw MekSSUIS
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  • Page 6 Advertisements
    • 293 6 r l 1 "V R&fflesMedicalGroup Results Announcement for 2nd Quarter 2003 (unaudited figures $'000) i i i >n 2Q2003 2Q2002 %cltange 1H2003 1H2002 change I ttMTDA 3*815 Highlights of 2nd Quarter 2003 Performance 9 Group achieved 8% improvement in revenue and 24.7% increase in profitability despite the H impact of
      293 words

  • SINGAPORE news
    • 481 7  -  Semicon foundry market recovering and USSFTA will provide an impetus By Raju Chellam THE local electronics manufacturing industry is set to consume U553.79 billion of semiconductor chips next year up a healthy 17 per cent from 2003 due mainly to an expected
      481 words
    • 415 7  -  New skills will also help them to retain jobs Boon Heng By George Joseph STAFF of the SIA Group were reminded yesterday that they need to restructure their wage packages and remain skilled to keep their jobs and create new ones. Labour chief
      415 words
    • 294 7 THE government yesterday made available for application a reserve list industrial site at Tuas South Avenue 2/3, which it previously said was delayed for technical reasons. It also added two new sites in Übi Road 2 and Serangoon North Ave 4, which will be
      294 words
    • 547 7  -  By Chuang Peck Ming MONDAY'S bomb blasts that killed about 50 people in Mumbai, India's financial capital, have not affected the country's prospects as one of Asia's next two economic giants, according to a local business leader with extensive ties and
      FILE PHOTO  -  547 words
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  • EDITORIAL & opinion
    • 704 8  -  THE bottom line OPINION william pesek jr Bloomberg FOR the first time in years, Japan is looking forward to a visit by a US Treasury secretary. John Snow arrives here in Tokyo next week amid growing optimism about the world's secondbiggest economy. If
      Bloomberg  -  704 words
    • 103 8 "What is great about Canada is we salute diversity. We praise diversity. They were the first people of this land. When I was minister (of Indian affairs), there was a policy of assimilation. There was this time when people did not want to be on the list
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    • 634 8 EDITORIAL A STRONG sense of economic recovery is in the air right across Asia While no one should begrudge those who trumpet the fact that the Sars epidemic subsided almost as quickly as it appeared and that the Iraq war did not produce further "oil shocks", it
      634 words
    • 1164 8  -  With cheap Chinese imports flooding the market, American politicians and business people are up in arms against China's refusal to revalue the yuan By Elisabeth Becker Edmund L Andrews NYT WITH unemployment high and American manufacturers reeling from three years of misery, politicians
      NYT; REUTERS  -  1,164 words
  • Page 8 Miscellaneous
    • 180 8 CBTPTTC CROSS WORD meeing(4) sure to take in Roger for a Trades, 10 Admitted, 12 Eats, 1 A stretch of countryside time (9) 13 Marry, 14 Oral, 17Thesdan-that'snolpretty-l) 17 Boring crowd in conversa- sants, 20 Rambling rose, 23 jTSZuen ton. but sweet (6) Oboe, 24 Dregs, 25 Dale, 28 3
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  • REGIONAL news
    • 617 9 KUALA LUMPUR Fight in booming consumer market centres on credit cards, mortgages Reuters SAVVY marketing is giving foreign banks a leg up on local competitors in Malaysia's booming consumer banking market. Citigroup's Kuala Lumpur outlet is like any Malaysian bank's branch, with
      Reuters; FILE PHOTO  -  617 words
    • 214 9  -  By Eddie Toh MALAYSIAN tycoon Syed Mokhtar Al-Bukhary's listed vehicle has denied that its Port of Tanjung Pelepas (PTP) held talks with Singapore government investment arm Temasek Holdings to find ways for their ports to cooperate or even merge. "We wish to inform
      214 words
    • NOTEBook
      • 44 9 Reuters [KUALA LUMPUR] Telekom Malaysia yesterday said its quarterly earnings rose from a year ago, helped by profits from newly acquired Celcom. Telekom posted a second-quarter net profit rise of 11.6 per cent to RM277.86 million (*****.8 million). Reuters
        Reuters  -  44 words
      • 57 9 Reuters [BEIJING] China yesterday said it will examine foreign exchange deals by some banks in a bid to halt the tide of illegal hard currency flows. It showed the government was taking seriously the issue of "hot money" entering the country illegally in anticipation
        Reuters  -  57 words
      • 38 9 Reuters [KUALA LUMPUR] Malaysian state asset manager Danaharta yesterday said it had settled its RMI .3 billion (***** million) loans with the government's investment arm, Khazanah Nasionalßhd, and the Employees Provident Fund. —Reuters
        Reuters  -  38 words
    • 235 9 SINGAPOREANS crossing the Causeway to Johor Baru will now have another source of news in the form of aggressive tabloid The Malay Mail the Malaysian equivalent of Singapore's New Paper. The New Straits Times Press (NSTP) launched a southern edition of The Malay Mail amid
      235 words
    • 338 10 BEIJING Official spells out measures to spur growth Reuters CHINA faces severe urban unemployment and flagging rural incomes despite sizzling industrial expansion fuelling the risk of overheating, state media yesterday quoted a top government official as saying. The government has, meanwhile, launched an
      Reuters  -  338 words
    • 243 10 BANGALORE INDIA'S first low-cost airline has been launched in the southern city of Bangalore. Air Deccan says its tickets will cost 50 per cent lees than other Indian airlines, and that it wants to make air travel feasible for all. the BBC News
      243 words
    • 138 10 HONG KONG Reuters CHINA wants to encourage foreign banks to buy into domestic lenders by raising the ceiling on foreign ownership to a maximum of 25 per cent from 15 per cent, the head of China's top banking regulator said yesterday. Hong
      Reuters  -  138 words
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  • Page 10 Advertisements
    • 774 10 gl GP Batteries International Limited W (Incorporated in the Republic of Singapore) Announcement of First Quarter Financial Statement The Board of Directors of GP Batteries International Limited is pleased to announce the unaudited financial statement of the Group for the first quarter ended 30 June 2003 as set out below:
      774 words
    • 1235 10 <A> RoQistOfßd Office. 3rd Floor, Absd Towors Eflsl, 170 Mdin Stroct, Johdnnosbury, 2001 ABSA Absa Bank Limited. Singapore Branch: 9 Temasek Boulevard *40-01 Suntec Tower Two, Singapore *****9 CROUf LiMmD AM amount* an In Rand mUtton Balance Sheet Income Statement as at 31 March for the year ended 31 March
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  • Article, Illustration
    1014 11 Transaction date:Aug 26 nTTBEBAMMCEOSSKATBS AS C$ >■> Enre MKS Ml mm Tan —I 1 m ftfcfc fm *mi tk K Pmat m Australia 0.905 5J55 0.595 5.032 ***** 54.685 0.760 7.549 2.452 LW ***** 35.779 1129 4134 0.915 ***** 26.707 14N 0545 Canada 1-105 5.916 0.657 1560 32.709 60.421
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  • 1416 11 S100MHI1UIIE8 Aug2i IHKtWmfdMiMirictD BSKScmMO CIom VMm OpM HMtk M|h Lot Sett (tomes) hHtml 03 §725 S3 166.00 Ho* 03 185.00 OK S3 183.75 KSlfBcafe/ktf Mw 0p« Moatt Hgh Lot Sett (tone*) Merest »03 106.00 1790 03 106.00 ***** 105J0 3(00 6450 Nw 03 103.75 103.75 N&OO 150 5350 OK
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  • WORLD news
    • 419 11 WASHINGTON It clarifies when such tying of products is allowed Reuters, Bloomberg THE Federal Reserve said on Monday that US banks are prohibited from requiring customers to obtain an additional product to getting a desired product or discount, a practice referred
      Reuters,; Bloomberg  -  419 words
    • 308 11 NEW YORK Reuters NEW York State Attorney General Eliot Spitzer on Monday said he settled claims with the remaining seven of the 10 investment banks that were part of April's US|l.4 billion global pact over alleged biased research. Mr Spitzer said New
      Reuters; BLOOMBERG  -  308 words
    • 481 13 NEW YORK Study says trend shows growing gap between executive and worker pay Bloomberg DELTA Air Lines Inc, Northwest Airlines Corp, and Continental Airlines Inc gave their chief executive officers raises after the Sept 11, 2001, terrorist attacks as they
      Bloomberg  -  481 words
    • WORLDWatch
      • 94 13 AFP [WASHINGTON] Secretary of State Colin Powell is by far the most popular member of the US government, and his approval rating tops President George W Bush's, according to a Harris poll released on Monday. Conducted in August, the poll found 72 per cent of Americans
        AFP  -  94 words
      • 78 13 AFP [SYDNEY] Australia's top companies were urged yesterday to take a leading role In hiring more older workers instead of firing or retiring them if they want to avoid a critical labour shortage in a few years' time. The Business Council of Australia warning
        AFP  -  78 words
      • 78 13 Reuters [SYDNEY] AXA Asia Pacific Holdings Ltd, Australia's second largest life insurer, posted a big jump in first-half earnings yesterday after a hefty one-off gain from the sale of its health insurance business. AXA's profits were also buoyed by a big Jump in investment returns
        Reuters  -  78 words
      • 67 13 Reuters [LONDON] South Korea's government plans to sell its controlling stake in Daewoo Heavy Industries Machinery (DHI) in a deal that could raise up to US$l billion, the Financial Times newspaper reported yesterday. State-run Korean Asset Management Corporation has named Credit Suisse First Boston
        Reuters  -  67 words
    • 335 13 WASHINGTON Reuters THE Congressional Budget Office (CBO) yesterday forecast a federal budget deficit of US$4BO billion in 2004, a record shortfall that could pose problems for President George W Bush as he seeks re-election. In its biannual budget and economic outlook,
      Reuters  -  335 words
    • 298 13 BONN Bloomberg GERMAN business confidence rose to a 14-month high in August, adding to evidence that Europe's largest economy may pull out of recession this quarter. An index of western German business sentiment increased for a fourth month to 90.8, from a revised
      Bloomberg  -  298 words

  • 6 12 Transaction date: Aug 26
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  • 4 12 Transaction date:Aug 26
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  • 727 12 Transaction date: Aug 26 >■> —i t q— Oft ■> Qmm a—»» AOgrean SOc 039 0595 -0525 WB«wHttc 052 3500 cat ojo uoo -oooo ococ an 11.000 -0.100 CapiMjnd 1.12 1-350 -0040 QUI. 051 0590 Own SamOCond 2fc 0J7 1590 -0090 Nfto«*yM2Sc 0.47 OMD -OjOSO ObOw* 155 SjOSO -0J00
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  • 541 12 BONDS WARRANTS INB Mn M UN M Cam Car Mk tar- Ik Cade Ctmm ««r- fW» I* Ma ho U> MX AST1W*****1 12 2 306 1 H 12 200 10 *97 AanaUdW*****6 1 1 50 306 W 50 15 WD Amtet W*****0 JO -2 12 1 J3 137 22 3(03
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  • Page 13 Advertisements
    • 384 13 |HD||B|l|H| Call toll-free 1800 289 8822 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SANOFI WINTHROP PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN THAT pursuant to Section 308 of the Companies Act, Cap. 50 that the Final
      384 words
    • 524 13 I 0 SMB UNITED LIMITED (Incorporated in the Repubfcc at Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting of the shareholders of SMB United Limited (the "Company") will be held at 9 Senoko Drive Singapore *****7 on 11 September 2003 at 10.00 a.m.
      524 words
    • 1178 13 f I CLIPSAL Clipsal Industries (Holdings) Limited 11 (Incorporated in the Republic of Singapore) Announcement off Unaudited Results and Dividend For The Second Quarter Ended 30 June 2003 The Board of Directors of Clipsal Industries (Holdings) Limited announces the unaudited results of the Group for the second quarter ended 30
      1,178 words

  • 13 14 Transaction date: Aug 26 for live prices, log on to uwwjasiaonemarketsjmm
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  • 1778 14 B* M Lad M Day I—I OH Mb Mr m Net WCm l»U«CHi M« W- f| tew Payer Wfcr CW m 13 24 75 5000 ABRHtdgsSc 19 untti 230 19 19 19 195 38 15 7101 APCMSc 34 inch 2045 34 5 33 34 345 21 M26 J.1
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  • 279 14 M M M M N llOilli OH* Mr «r«M H Kb wmcm Qmmm, Ut, *t- r— mST t— —w i+m Ok w 13 161 r 6000 AVJtmngi A2Sc AMO *1 160 19 IK ICO 40 34 6J 93 3444 tOOl Cathay Pac 20c.... __HK720 265 11 74 C
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  • Page 14 Advertisements
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    • 19 14 flWflpD-winnmcj iM^WCWAMt X OTP VflllfT DOflD #01-40 (WW our f SfflQflPOOf *****2 too etsfßvrmons puflstcm wKHA m 6338 1411
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    • 31 14 ranq mahal haute Indian cuisine Buffet Lunch Noonto£3opm (Closed for lunch on Saturdays) Dinner 6.30pm to K)-30pm Make your reservations with us at 4 T* (65)6333-1788 nt (65) 6333-1660 MMMMML Lwl3T>wPiwPfcjfcSini^Bri7ft»mwiu^i»lilMroS»artSwQ^or»(X>Wfs
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    • 77 14 n THE NEPTUNE V COIiYII aw A T FAMILY DINNERCUM SHOW PROMOTION Now til 31 August 2003 Chinese Set Dinner :7:30 pm -11:30 pei $380.00 nea onwards per table (10 persons) OK $40 00 neo per person. Ist Show :&30-940pm 2nd Show 104)0 10:30 pa(Aduks only) Reservations: 6224 3203 Ptcaae
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  • BT motoring
    • 586 15  -  Tomo offers insurance for your leather seats, writes SAMUEL EE SAMUEL EE Traffic accidents aren't the only thing you can insure your car against. Spilling a cup of Starbucks on your leather seats is also something you can get a policy for. An insurance policy being
      586 words
    • 246 15  -  By Samuel Ee ONE important change to the NCD, or "No Claim Discount", accompanied the GlA's adoption of the "Barometer of Liability". Previously, getting a discount on your automobile insurance premium depended on the principle of "No Claim". This meant the only way
      246 words
    • 384 15  -  From Eddie Toh in Kuala Lumpur SESDAQ-LISTED motor group Wearnes International could face keen competition in its new Volvo business in Malaysia as it prepares to launch its new RMIO-million (554.6 million) showroom and service centre next week. MBM Resources one of the
      384 words
  • Page 15 Advertisements
    • 1395 15 I lor ~i IDT HOLDINGS (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore with limited liability) IDT HOLDINGS (SINGAPORE) LIMITED Is an investment holding company whoee subsidiaries are engaged in the design, engineering, manufacture end marketing of consumer electronic products which principally feeture LCD and microprocessor applications. Group Financial Highlights
      1,395 words

  • EXECUTIVEmoney
    • 1205 16  -  Asia may be the sweet spot for private bankers but their price discipline is appalling, says the Boston Consulting Group. GENEVIEVE CUA reports GENEVIEVE CUA IF you have net liquid assets of U*****,000, and hanker to be served by a private bank, chances
      1,205 words
    • 962 16  -  Though equities are in favour now, US recovery may be more anaemic than expected: SSGA By Genevieve Cua IF you're in the process of putting together an investment portfolio, don't dismiss bonds out of hand, says Sean Flannery, State Street Global Advisors' (SSGA) senior principal
      ARTHUR LEE  -  962 words
    • 869 16  -  INSIDE markets By Robert Halili ALTHOUGH buying was down from the previous week, the spotlight is on tycoon Oei Hong Leong, who entered the market after nearly three months of inactivity. Mr Oei was bullish on three listed firms despite the sharp increase
      869 words
  • Page 16 Advertisements
    • 294 16 I Financial Crisis Management 1 < If you are facing disruptions to operations arising I ACCOUNTING from any of these: i i 1 If you are facing any of these: Cash flow problems i i messy accounts arising from change of systems staff turnover *****5 deputes inability to meet statutory
      294 words

  • SHIPPING TIMES
    • 576 17  -  BT exclusive Terminal operating company to be set up by year-end By Beth Jinks [SINGAPORE] PSA Corporation and its Japanese consortium partners are set to finalise the shareholding structure and preliminary management set-up of a controversial Japanese container port investment this
      576 words
    • 261 17 Surging exports from China boost volumes handled Bloomberg [SHANGHAI] Jinzhou Port Co, a northern Chinese port operator controlled by Chinese billionaire Zhang Hongwei, said its first-half profit rose 38 per cent as surging exports from China increased cargo traffic. Net income by domestic accounting
      Bloomberg  -  261 words
    • 228 17 waadoMdfortiie SGX '000 at g u- w CWT DnWbubon 055 4JB2 90 oTowihart 031 331 1629 COKOkwMmnt 0.45 -031 ***** Freight LMa 0.07 -0.01 565 GOnofcOngi 0.75 -001 15 047 0u02 12t2 (ntlCttp 5j06 -0.10 815 U%*M 022 -041 2148 KappalTate OJ6 undi 57 UfauiMMfcn 034 -OOT 719
      228 words
    • 159 17 Bloomberg [HONG KONG] China Shipping Development Co, China's biggest oil shipper, said first-half profit rose 75 per cent after the company shipped more oil and disposed of its loss-making container shipping unit. Net income rose to 460 million yuan (5596.6 million), or 0.1383 yuan a
      Bloomberg  -  159 words
    • 238 17 Production less hampered by rainy season this year Bloomberg [SEOUL] Daewoo Shipbuilding Marine Engineering Co, the world's sec-ond-largest shipbuilder, reported a 42 per cent increase in net income last month because production was less hampered by rain than a year ago. The
      Bloomberg  -  238 words
    • 320 17 Results beat forecasts, helped Ivy better freight rates Reuters [KUALA LUMPUR] Malaysia International Shipping Corp (MISC), the world's largest carrier of LNG, reported a 63 per cent jump in its fiscal first quarter profit yesterday, helped by better freight rates. MISC said
      Reuters  -  320 words
    • 451 17 An estimated 13,800 tons of oil remain in wreckage AP [MADRID] The oil tanker Prestige, which broke in two and sank late last year off Spain's north-west coast, has spilled more than 80 per cent of its cargo of 77,000 tons
      AP; REUTERS  -  451 words
    • 672 18  -  STRAIT TALK By David Hughes TWO interesting pieces of reading matter landed on my desk last week. One was a promotional brochure from the London-based Nautical Institute for a conference. The other was an opinion piece in the British shipping daily newspaper Lloyd's
      FILE PHOTO  -  672 words
    • 3 18
      3 words
    • 3 23 THEBUSINESSTIMES
      3 words
    • SHIPS IN PORT
      • 507 25 Vtf< Voy No Bfth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL CSAVMONTREA *****S J18/19 A/SIDE 27/08 0900 GANSHUN UC147 J22 A/SIDE 27/*****0 LABROY166 NMS23/03 J5 A/SIDE 27/08 0630 SINDORA SERA 98/03 J3 A/SIDE 27/08 0645 UNGGUIJAYA 09/03J J15 A/SIDE 27/08 0600 A KAMBING 1 JB802 J6 27/08 1000 27/08 2300
        507 words
      • 2 25
        2 words
      • 131 25 Aug 31 Malaysia: National Day. Philippines: Nat Heroes Day. Sapl Canada: Labour Day. U.S.: Labour Day. Sep 2 Vietnam: National Day. Bap 3 Vietnam: Nat day Hoi. Sap 11 Brazil: Independence Day. South Korea: Harvest Fest Day. Taiwan: Mid-Autumn Festival. Bap 12 Hong Kong: Day after Mid-Au tumn.
        131 words
      • 804 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 at the market. Prices shown are based on averagesized stem. Market movements are indicated. The Cockett Bunker Price Index change and the
        804 words
      • 455 25 carta* no Mn 994 J 0.6 &4 0.07 31 0.06 Aim 71 DMKitv Water teiMna AiftAlueWmuoi jidlweat No above £25 2 0 2 0 0 0 =22 w 380 Am 986.7 0J 14.0 0.05 27 0.01 U«. 380 MU 992.6 8.6 17.4 0.10 78 0.06 ttflri
        455 words
    • AIR & LAND transport
      • LOGBook
        • 80 26 Bloomberg [FRANKFURT] Fraport, the owner of Frankfurt Airport, plans to shift its freight services business to another subsidiary in an effort to reduce wages, a spokesman said. Fraport will move about 570 workers, or 10 per cent of its ground services division, to its Tradeport
          Bloomberg  -  80 words
        • 85 26 Reuters [HONG KONG] China Eastern Airlines Corp reported its biggest interim loss since listing as the Sars outbreak forced the airline to slash flights and discount tickets. Shanghai-based China Eastern, the country's second largest airline by fleet size, reported a net loss of 1.25
          Reuters  -  85 words
        • 106 26 Bloomberg [BEIJING] Sinotrans Air Transportation Development Co, a unit of China's largest air shipper, said first-half profit rose 35 per cent as demand for cargo space on planes rose after commercial passenger flights were cancelled because of Sars. Net income rose to 185.5 million yuan
          Bloomberg  -  106 words
        • 99 26 Reuters [HANOI] US aerospace company Boeing, which has just delivered its second 777 long haul jet to V ietnam Airlines, said on Monday it expects the carrier to buy at least 10 more jets over the next five to six years. The national carrier
          Reuters  -  99 words
      • 297 26 AFP [MOSCOW] The Russian flag carrier Aeroflot unveiled on Monday its new fleet painted in gleaming silver, navy blue and orange under a makeover aimed at modernising the airline's Soviet-inherited image. The first plane with the design, which also has a Russian flag
        AFP  -  297 words
      • 125 26 Bloomberg [TOKYO] Mitsubishi Heavy Industries, Japan's largest heavy-machinery maker, said it has won contracts to maintain and repair aircraft engines for Malaysian Airline System and Taiwan's China Airlines. The contracts include repairing the jet engines on Malaysia Air's Boeing Co 747 aircraft and fixing components
        Bloomberg  -  125 words
      • 190 26 AP [SINGAPORE] British Airways says it will give away two tickets in Asia for one of its last Concorde jetliner flights between London and New York before permanently retiring the service. Contestants have to submit a 200word essay and answer four trivia
        AP; FILE PHOTO  -  190 words
      • 437 26 Move is part of cost-cutting efforts aimed at slashing A$1b over 2 years Bloomberg [SYDNEY] Qantas Airways, which reported last week its first loss in eight years, may sell its Australian airport terminals as part of an effort to cut costs. The review may
        Bloomberg  -  437 words
      • 283 26 Reuters [PARIS] A top executive at Airbus has confirmed that the European plane maker aims to deliver 300 jets and win new orders for 250 planes this year, but declined to give a forecast for 2004. Chief commercial officer John Leahy also said Airbus, which is
        Reuters; AFP  -  283 words
      • 405 26 Carrier owes US$1.2b and is fighting to pay debts Reuters [LIMA, Peru] Brazil's debtladen flag carrier Varig intends this week to sign an "irreversible" intention to merge with domestic rival TAM, to avoid being grounded, a top Varig said on Monday.
        Reuters  -  405 words
      • 222 26 AJRUMt cooes AA.AmmtmAflmlAMJ.Mf.Mr Hva(Afß). AI M**IMC). AY foam 6, (T9b AZ m*At*m<AZAj, M. r*teuico (tout, m B/A Atom* Car* (BfAl CA At Cttm (CCA). CB MmncmUtmtawl W>m (CO.Ct dm, Attm LM(CAL).CS At moatmm. tKjAtM) CVCMwmMtm Pm***mitl (CPA). CZ Clam Sottm* Attm (CSm OLCkm Attm (OAu.bc £mnm
        222 words
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    • 364 18 xngK •lkm*iwv«»n*>r»i«*dby w L fiL Singapore Shipping AstooaHon Assooohon ULY UNK MALI /vnsa vor m eta ew A p. daks van am Princess Lily 0803 25/08 27/08 05/09 Mold Comer 741 A 03/09 05/09 14/09 Empress Lily 0503 13/09 15/09 24/09 Moid Star 542 A 23/09 25/09 04/10 ULY MARINi
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    • 1147 20 WAN HAI frfTBtNATIONAL PTf UP*"oNitH<H7HMMT WIWAN HAI LINES n b.nOMta^'lnmnai*n.MaimMlMZTHM* I V m^WßwmnLWßiinnßifcwiawcswtWDimm/miw www f wtntv* www.ww.i»».» l IB>MBMjMBMMBMHBMB<gM p mbi I -—pKr tEt uSi -*m 1 -«Sr -w»- -TT- hMwim M IW M TIM nan M M M OM M M mi tw Iwm}i] iii 7 mi mi mi
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    • 466 20 BSfl ikTI MYANMA FIVE STAR UNE "c;ctr VKsa VOT n m m M|M MOW SU MM-AM JO7W SU M NAUTSU: KXtSTUB SMPMM MOOES Oil: 0*******0 HO: OJ-J17*4101 PBfe 04-*****02 BANK LINE tA wrvke «l Aeirew W* $Mpph|) WOKIWOUNP ID UKOW~i V awttio, aoao, niiik t HuyruFTs rasa m mm mu
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    • 934 21 rvHSi to? nssn —res —r~w —i ml 6xt ut mam m SH HH6 pa SB ""55 fiw 2770i —WoT ~5f7W ~oi7W ~ifm MAN ISFAHAN KL 336 37/03 23/03 31/O* 01/09 03/09 09/09 10/09 13/09 SIMA TOU3A KL 3004 SKIP SKIP 10/09 11/09 31/09 32/09 39/09 01/10 UNDAVIA Pa 329 16/09
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    • 562 21 4 ir?!i 1 UK CONTINENT SERVICE Lowing for THOR LOTUS RTM/ATW/BMN/UK/NAN Loads EAV. MWaym MonaaW MIDDLE-EAST SERVICE Loading tor J. FRIEND DBI/ABU/DOH/BRN/DMM/KWT FIVOS DBI/ABU/DOH/BRN/DMM/KWT *Loadi Singapore. E7W. MW|W Indonaaia USA SERVICE Loadng for PACIFIC EMBOLDEN CAM/NFK/SAV/NOL GIORGOS CAM/NFtC'SAV/NOL •Load* E7W. MWaym IndonoMa F.E./S.E.A. SERVICES S'pore Loading tor LUCKY STAR IN(VBSN
      562 words
    • 977 21 vcsa m m m gjg S3 gg «h gas. dSt=zd&&zdtftz w—S —m —m- «s. -its lis fir 111 IHH 52/2! tl/1 M Bgh=fg==Bfc: jjMIMpPMBP —B —as —M- Ib ffi -M— |F Sfe» —mm jf/M I ffU 1 BSu IS. I9M I Bin I BBi MB* UK jlf::BB=— g I {p=H=^^^
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    • 446 22 ll» 02-03/W W-U/W 16-17/W I 113* 05-04/W 1214/W IMO/W I 11« MlO/W 16-11/W 23-24/01 I DSN IM3/W 19-21/W N-27/J0 I |S^s^s^sTH I ST"* IS SffiS SSS I l*RllJ«|^^4J^^lWM^^»jM^lN7/jJ te^sl|£s£j^^ ssl i m a ml fn^fißnuTNNeM^ (sata if7o) I I OWNS ft OPOtAIH TM YOUNOIST FIMT I VHIM poubtbn 7,000 pwttwhn
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    • 645 22 FREIGHT LINKS EXPRESS I 51 Penjuru Road, 3 Level, I\l k Freight Links Express Logisticentre, Singapore *****3 Tel: *****511 Fax: *****577 < HI E-mail: flesin@sinqnet.com.sq J LCL SERVICE TO MPAN/INDONESIA/FHILIPPINES 1 OSAKA KOtl CIBU JAKARTA A 1 YOKOHAMA NAOOYA SURABAYA MANILA 1 TOKYO usd Booking 6267# SS6S/*****5535/5360/5541/5506/5949/5560/5563/5914 fßflilCT Or NMfYLirr
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    • 1119 22 ydi |PPj kL^ ES jgteSl mmms SHT cmmm *5Em mcmmi MM n/m mmmm mijwM warns* SwIMST —*MH IIH M/M 6BOOW MOi|M/M MM MO7 M/M WW M»|M/M <11— MOIMIM/MI 11/ M mmmi m v7m mtm mi\Zm mmmm msW* mummmm am nb«iWtmLZ mm*Ml >Is 7 11/ M BBOOM MOSIO4/W VMM* WW/WW Mt7|M/MMMM
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  • Page 25 Miscellaneous
    • 149 25 SSSSSSSSSBSSSSSSBMSSSSSSSSSSSBBtBSSSSSSSS^tk I tKI^^I^' 'm- jj/ WBI V > /j,\jwPJfsT\ liL g Ijf j /rX?<yk/° n ?9Hr S® x O j l jg >^»im^i^>p »-i'f|gs». 4 i, »*^*^3BSBS^S'SMW*jfl|^^^^k*^\ s>^i2^Sjg^^Bl: l W?S.^£t-*' I I ntjlu. r '''*I^lufiff'*^* Issued by Meteorological Service Division,NEA LEGEND: Thunderstorm Wind speed symbols V 7 Showers C Full
      149 words