The Business Times, 1 September 2004

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Total Pages: 35
1 36 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MITA (P) 023/03/2004 Wednesday, September 1,2004
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  • 257 1 It's all in one big section Starting today. Shipping Times will be incorporated into the main paper. BT will now come in one big section. Aviation News: Pag« 22 Shipping News: Page 23 Shipping Schedules: Pages 28-32 What's new Three-minute Digest For busy executives, there's a
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  • 137 1 sn 1,***** (+12.89) ST INDEX FUTURES 1,920.00 (+17.00) siMsa 231 M (+1.75) SIMSCI FUTURES 231.70 (+2.50) MARKETS Tuesday Change KLSE COMP Closed NIKKEI 225 11.081.79 -102.74 HANG SENG 12.850.28 -27.5 SET INDEX 624.59 >12.14 JAKARTA COMP 754.70 +1.68 TAIPEI yyPI 5,765.54 -23.40 AUST ALLORD +0.50 BOMBAY IND 5,192.08
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  • 561 1  -  BT Exclusive Ministries that exceed staffing limit face headcount surcharge By DANIEL BUENAS [SINGAPORE] In a move aimed at restructuring and streamlining the government, the civil service could cut up to 9 per cent of its headcount, or around
    Source: Budget for the Financial Year 2004/2005  -  561 words
  • Page 1 Advertisements
    • 99 1 COMMENTARY How well has Tfemasek steered its companies? PG4 PUJfr TRIED AND TRUSTED gets a boost pg 36 New HDB flats Yesterday, a BT columnist asked whether singles will be allowed to buy new flats direct from the HDB. National Development Minister Mah Bow Tan has now given an answer.
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    • 36 1 BT ONUNE For the latest financial news, currency movements and a 7-day archive, visit business-times.asial .com.sg. This service is available to subscribers from 4am Singapore time (2000 GMT) each day. Access from 2pm is free. 8
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    • 35 1 TIGER WEBSITE CRASHED JTiger Airways website PG22 mi Dependability one of the many reasons why premier financial institutions use 002. >' > 3 %£k: i- ffl 1 r v oo? For C orporate enquiries, please call Ib22
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  • TOP STORIES
    • 538 2  -  LETTER FROM THE EDITOR ALVIN TAY Editor SOME of you have asked me why so many of Singapore's major newspapers are being revamped. 1 can only speak for one of them The Business Times. It was in 1995 that BT last had
      538 words
    • 266 2 Bloomberg [JAKARTA] Wee Cho Yaw's United Overseas Bank (UOB), Singapore's No 2 bank, is among the Ave lenders picked by the Indonesian government to bid for a US$4l2 million stake in PT Bank Permata. Standard Chartered, a UK lender that makes
      Bloomberg  -  266 words
    • 495 2 Westcomb partners part ways; S J Wong plans new start-up HONG Kong-based financier S J Wong and high-profile IPO maestro Choo Ghee Kong are parting ways over the future direction of Singapore-listed Westcomb Financial Group, formerly known as SBI E2-Capital. Mr Wong is now putting together a new
      495 words
    • 532 3  -  Westcomb's chairman quits to form new team to compete with financial services group Reports by LOH HUI YIN [SINGAPORE] They were once business partners, but soon they'll be competing head-on in the IPO market. Hong Kong-based financier S J Wong and high-profile IPO maestro Choo
      532 words
    • 298 3 [SINGAPORE] He advised businessman Oei Hong Leong on a major corporate deal in Hong Kong before the latter returned to Singapore a few years ago. He's an engineer by training but barely practised his profession. A Instead, he prefers "financial engineering'' investing
      298 words
    • 459 3  -  India fever is in the air as company mulls secondary S'pore listing By TAILA KRISHNAKUMAR [SINGAPORE] If Singapore is worried about India taking information technology jobs away from it, perhaps buying into one of India's leading IT and business outsourcing
      459 words
  • Page 2 Advertisements
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    • 335 2 POWER I. Harnessing Relationship l|jt*|^^HK9ll|H2. Developing New Audiences 3. Singapore Events 4. Measurement Are You and Your Sponsors Using The Same Yardstick 5. The Magic Behind Disney Events 6. Strategies for Superlative Sponsor Service 7. Keeping It All Coherent With Your Sponsors 8. Marketing for Event Success 9. The Business
      335 words

  • Page 3 Advertisements
    • 74 3 II I Oife# if fp J|. ,J| hh^H^^^Bl »-«>■•>■ r^HO9mL*S -a^ ite'lil:i'i'i il, 1 j M MMj ,V- f *'}*??H-■ Are you ready? The new SLK. Mercedes-Benz Definitely one to watch. And so versatile, it transforms from coupe to roadster in just 22 seconds at the touch of a button.
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  • Page 4 Advertisements
    • 214 4 Vj* I In the US since 1991. Now in Singapore. You are successful in business. You plan your financial future. But do you invest in your personal life? At It's Just Lunch we are the first date experts for successful, busy professionals. With 65 locations worldwide and 13 years of
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  • COMPANY NEWS
    • 516 4  -  Temasek appears in no hurry to up bid, which adviser says is 'fair' By WONG WEI KONG TEMASEK Holdings may have to up its bid for national shipping group Neptune Orient Lines (NOL) if its general offer is to succeed, but there are few
      Source: Bloomerg; REUTERS  -  516 words
    • 481 4 Competition hits Total Access TOTAL Access Communication, Thailand's second-largest mobile phone firm, said yesterday its net new subscribers dropped 34 per cent in July due to fierce competition. Singapore-listed Total Access, 30 per cent owned by Norway's Telenor ASA, said in a statement it had 89,213 net new
      481 words
    • 740 4  -  HOCK LOCK SIEW By WONG WEI KONG Temasek Holdings' first public annual report since it was founded 30 years ago will soon be out. But while the effort to improve transparency will be welcomed, its stewardship of the companies under its charge is
      740 words
    • 513 6  -  Results boosted by consolidation of fully-owned Thistle Hotels' profit By JOYCE KOH THF recent steady climb in BIL International's share price could find its explanation in the Singapore-based hotel and property-invest-ment group's remarkable full-year turnaround. The mainboard-listed group returned to the black for the
      CHRIS LOH  -  513 words
    • 282 6  -  By JOYCE KOH HESHF Holdings has slashed its full-year loss despite a big drop in turnover. The Sesdaq-listed company narrowed its net loss to $4.9 million for the full year ended June 30, from $21.3 million in FY2003. But turnover sank 62.5 per
      282 words
    • 350 6  -  By VINCE CHONG RAFFLES Hotel has become the first in the industry to join the wage restructuring bandwagon. The monthly variable component (MVC) for the hotel's staff" will rise to 10 per cent from 3 per cent. The
      350 words
    • 651 7  -  Lim Seek Yeow, who has two other companies lined up for listing, shares some pointers with KENNETH LIM KENNETH LIM LIM Seek Yeow may not have taken his 0 Levels, but he can tell you which are the meatiest breeds of pig and
      CHRIS LOH  -  651 words
    • 285 7  -  By TANG WENG FAI HOPING to steal a march on its rivals, Mobile One (Ml), the second largest mobile telco here, says it may launch a high-speed wireless Internet service by the middle of next year. "Yes, we're planning to launch something next year
      285 words
    • 212 7 ASCENDAS Real Estate Investment Trust (AReit) yesterday said it bought an industrial property in the Ang Mo Kio area for $75 million, bringing its total portfolio to $1.3 billion. The acquisition of Techpoint building from its parent, the Ascendas group, is expected to
      212 words
    • 304 9  -  Medicine maker proposes to place out 46.2m shares, offer 3.8m shares to public By JEAN CHUA MEDICINE maker Pharmesis International yesterday lodged its preliminary prospectus with the Monetary Authority of Singapore, making it the latest Chinese company to seek a listing here. The mainboard aspirant
      304 words
    • 397 9 Bloomberg DBS Group plans to more than double the number of branches and representative offices in China to take advantage of a trade agreement that may further lower entry requirements. Singapore's largest bank by assets "plans to open another seven or eight
      Bloomberg; REUTERS  -  397 words
    • 512 9  -  By JEAN CHUA EVEN as it rides on a profitable year, recently main-board-listed Jets Technics International Holdings is already looking beyond home market Hong Kong for its next stage of high growth. "We have been enjoying rather good margins in Hong Kong but
      AFP  -  512 words

  • Page 5 Advertisements
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  • Page 6 Advertisements
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  • Page 7 Advertisements
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  • SINGAPORE MARKETS
    • 936 8  -  CURRENCIES LARRY WEE Senior Correspondent T HANKS to a sharp pull-back in oil prices, both Wall Street and the US dollar have exhibited a much healthier tone over the past week but the real test of their resilience could well
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    • Article, Illustration
      451 8  -  Compiled by KENNETH LIM Keppal Corp Aug 31 dose: 557.10 SINGAPORE Petroleum Co chairman and Keppel executive d irectoi Choo Chiau Beng made two separate open market purchases ol 50,000 SPC shares at 553.06 and 552.98 each last week. Mr Choo's stake now stands at 150.00 C shares
      Source: Bloomberg  -  451 words
    • 384 8  -  STOCKS R SIVANITHY Senior Correspondent FROM a purely psychological and technical standpoint, the fact that the Straits Times Index has managed to stay above 1,900 is comforting to some players. Ditto the Dow Jones index and the 10,000 mark. These performances have come about apparently
      384 words
    • 340 8  -  CHART POINT By LIM SAY BOON, K AJITH OCBC Investment Research AMIDST the agony of our rangebound market, some interesting action has emerged on the small cap front. And while small caps still look the most promising sector near-term, absolute gains may
      Source: Reuters  -  340 words
    • 374 8  -  Compiled by KENNETH LIM Elite KSB owners in married purchases THE controlling family of chicken slaughterer Elite KSB increased their stakes in the Sesdaq-listed company company last week through married deals. Founder and executive chairman Chew Koh bought 500,000 shares at 12.5 cents on Friday and now
      374 words
    • Article, Illustration
      430 8 OTHER SINGAPORE INDICES AUG 31 VALUE CLOSE BT OB/OS 339.00 +43.00 BTCADI -*****.00 +28.00 BT 10-day MA -*****.00 +34.00 All-SG Equities 499.32 +2.92 SG Equities Elect 160.69 +1.15 SG Equities Fin 1573.55 +9.10 SG Equities Prop 458.08 +9.26 SIMSCI 231.48 +1.75 SiMSCI Futures 231.70 +2.50 MOST ACTIVE STOCKS VOLUME SingTel
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  • Page 9 Advertisements
    • 121 9 Daily flights via Dubai. YAsHHH* vSL, i 1» v k 'a 1 "V A m New York Singapore \v;a Duban departure arrival day departure arrival Q3 1 4QQ Daijy 2330 1405* New York is famous for its cabs, and its cab drivers. They're known for being loud, they're known for
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  • SINGAPORE NEWS
    • 869 10  -  But Mah says for now, govt wants to reserve new flats for families By ANDREA TAN SINGLES aged 35 and above may one day get to buy their homes direct from the Housing and Development Board again. Minister for National Development
      869 words
    • 336 10  -  By TAILA KRISHNAKUMAR DEUTSCHE Bank is beefing up its corporate finance platform in South-east Asia to bolster an uptick in merger and acquisition and capital markets activity this year. Its head of corporate finance for South-east Asia, Jeff Speke, told BT: "Our pipeline
      336 words
    • 158 10 MEDICAL devices maker Welch Allyn said its Singapore R&D centre is working on a complex electronic patient monitoring system project for the global market that could potentially contribute to 10 per cent of its sales from 2006. The privately owned, New York-based company
      158 words
    • 708 10  -  Move comes as old CBD offices plan to redevelop into flats By KALPANA RASHIWALA THE government yesterday left development charge (DC) rates, payable for enhancing a site's use, intact for most use groups and locations. However, the few changes that it did make
      708 words
    • 470 10  -  By JOYCE KOH ALTHOUGH more people are holding credit cards, the good news is that fewer are defaulting on their credit card loans. According to the Monetary Authority of Singapore, the number of main cards issuance has risen about 16 per cent
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    • 287 10  -  The number of people discharged and bankruptcy petitions also rise By NANDE KHIN THERE are still signs that the economic upturn hasn't reached everybody. Bankruptcy rose in July, according to the Insolvency and Public Trustee's Office OPTO). The number of bankrupts at July 31 increased
      287 words
  • Page 10 Advertisements
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      30 words

  • FOCUS: MOBILE EXECUTIVE
    • 1017 11  -  The trend towards notebook computers is gaining momentum at the expense of desktop PCs, as RAJU CHELLAM finds out RAJU CHELLAM AS desktop personal computer sales start to shrink, notebook computer shipments are set to rise. That's as true in Singapore as it is for most
      Source: DeplaySearchSemiconductor Equipment & Materials Int'l  -  1,017 words
    • 435 12 Graphics by Ben Cruz Shireen Khoo was pulling in business worth millions as a bank officer in a heartland branch. Her impressive portfolio counted 389 customers with loans of $400 million. But in 2002, the bank's internal audit suspected something was wrong and called in CAD. Khoo's secret
      Graphics by Ben Cruz  -  435 words
    • 797 12  -  COMMERCIAL CRIME The Commercial Affairs Department has taken several steps to make its work more transparent to the public. WONG WEI KONG reports WONG WEI KONG ITS job, in the agency's own words, is to expose the "gentlemen" criminals, and the Commercial Affairs Department (CAD) has
      797 words
  • Page 11 Advertisements
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    • 21 11 This series is brought to you through an arrangement with m invent The HP Compaq Business Notebook Your trusted corporate companion
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  • Page 12 Advertisements
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  • ECONOMY WATCH
    • 454 13 Manufacturing gauge for Chicago also slides more than expected AP, Reuters Bloomberg [NEW YORK] US consumer confidence, which had been rising since April, fell sharply last month, as a slowdown in job creation and rising oil prices weighed on sentiment, a private research group
      AP,; Reuters Bloomberg; Source: The Conference Board  -  454 words
    • 369 13  -  By TAILA KRISHNAKUMAR HOME loans continued to power the rise in bank lending in July, according to figures released by the Monetary Authority of Singapore (MAS) yesterday. Lending to the housing sector jumped by 17 per cent to $56.2 billion,
      Source: MAS  -  369 words
    • 288 13  -  By ANNA TEO BARELY a month after raising its forecast for world trade growth in 2004, the Economist Intelligence Unit (EIU) has jacked it up again, this time by a bigger margin to 9.2 per cent on the back of stronger trade flows, particularly
      288 words
    • 389 13  -  By Anthony Rowley in Tokyo FURTHER evidence of a slowdown in Japan's economy emerged yesterday with official data showing that industrial output was unchanged in July after dropping by 1.3 per cent the previous month. Analysts had expected output to recover by one per
      389 words
  • Page 13 Advertisements
    • 164 13 fffij University of South Australia i yUJ International Graduate School of Management "Finding your way J|L through the maze of Pro Vice Chancellor Doctoral Research" aB!S Covers The differences between PhD DBA How to complete a doctoral research How to identify a workable research topic successfully (T~ q q onn
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    • 245 13 The first hotel Executive Club Room Deaf "IT Butler"in Singapore I Ss24o+++ pe r night Our guests usually shriek with delight when they I 3 7 (valid in September 2004 only) hear the news. Not only do they enjoy wireless B Ami. i free now of soft drinks, beer or
      245 words

  • MALAYSIA COMPANIES
    • 643 14 Group is producing world-class services at Third World prices [KUALA LUMPUR] YTL group managing director Francis Yeoh has been ranked 21st among Asia's most powerful businessmen by Fortune magazine in 2004. He attributes the group's success in the global business to the Malaysian
      643 words
    • 458 14 Highway maintenance, concession deals will diversify income base [KUALA LUMPUR] PLUS Expressways Bhd, currently ranked sixth among global toll highway operators in terms of market capitalisation, is on an overseas expansion track and has initiated talks with potential partners in Thailand, Indonesia and India,
      458 words
  • Page 14 Advertisements
    • 682 14 Standard Poor's is the world's pre-eminent provider of independent financial information and analytical services, with 40 offices around the world, including seven in the Asia-Pacific region. Reflecting continued growth in business activities in the region, Standard Poor's would like to invite high caliber professionals to fill the position in its
      682 words

  • MALAYSIA
    • 674 15 It expects loans to expand between 6% and 8% in the current fiscal year Bloomberg [KUALA LUMPUR] Maybank and other lenders are boosting lending to take advantage of an economy that accelerated at its fastest pace in almost four years in the second
      Bloomberg; FILE PHOTO  -  674 words
  • Page 15 Advertisements
    • 551 15 Global Business Process Outsourcing 2004 V/ INSIGHTS INTO INDIA Stptombw 29 30 2004, Qrand Hyatt Singqpor* v Your Most Important BPO Decision Make informed BPO decisions based on the latest and most dependable information. Find all these and more at the Global BPO Conference 2004. HBRPP'*; p" Hear from industry
      551 words

  • INDONESIA
    • 754 16  -  Investors returning, but long way to go in corp governance, S&P study finds By SHOEB KAGDA in Jakarta WITH international portfolio investors beginning to refocus on Indonesia, the country's corporate sector is awakening to the need to put its house in order. According to market players,
      754 words
    • 194 16 AFP, Reuters [JAKARTA] Indonesian presidential candidate Susilo Bambang Yudhoyono yesterday told a pre-poll corruption check that he was worth US$5OO,OOO, a sum likely to be dwarfed by rival Megawati Sukarnoputri. The former general, who faces Ms Megawati in the Sept 20 elections, told the
      AFP,; Reuters  -  194 words
    • 159 16 AFP [JAKARTA] British energy giant BP has inked a US$2 billion deal to annually supply 800,000 tonnes of liquefied natural gas (LNG) from a new facility in Indonesia's Papua province to South Korea's K Power, officials said yesterday. The 20-year
      AFP  -  159 words
  • Page 16 Advertisements
    • 997 16 International Ltd (The Company) (Incorporated in the Republic oi Singapore) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the 2004 Annual General Meeting of the Company will be held at 18 Cross Street. #08-01, Marsh McLennan Centre. Singapore *****3 on Friday, 17 September 2004 at 2.30 p.m. to
      997 words
    • 759 16 THE SHIPPING CORPORATION OF INDIA LTD. (Technical Offshore Services Division) sth Floor, Shipping House, 245, Madame Cams Road, Mumbai-400 021, (INDIA) Phone: 91-22-2285-3556 Fax: 91-22-2285 4790 Email: tandos@bomB.vsnl.neUn TENDER: ACQUISITION OF HIGH SPEED PASSENGER CRAFTS The Shipping Corporation of India Ltd. (SCI) on behalf of Administration of Union Territories of
      759 words
    • 295 16 TNI COMPANIES ACT. (CAP. 50) ASIA HARVEST PTE LTD (to Vol. LiqoMattoe) NOTICE IS HERE|Y GIVEN that the creditors of the above-named Company which is being voluntarily wound up are required on or before the 4* day of October, 2004 to send in their names and addresses with particulars of
      295 words
    • 955 16 mkw IMO 299 8822 jhyfl, ■ptkciltnh rotn it SaBBSSSSL IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF STEAMERS FUTURE SHIPPING PTE LTD (Incorporated in SinQoport) At an Extraordinary General Meeting of the obovenomed Company duly convened and held at 1 Harbour Front Avenue #18-01
      955 words

  • CHINA
    • 595 17  -  New pricing rules will bring markets in line with global norms, they say By JEAN CHUA THE suspension of initial public offers plus proposed new rules for share sales will help ease liquidity concerns and bring China's stock markets into line with international
      AFP  -  595 words
    • 586 17  -  HONG KONG INSIGHT LOH HUI YIN HONG Kong's economy is finally and firmly back on its feet. There's no question that the Special Administrative Region is booming. Confidence is strong among Hongkongers, they are spending freely again (note the number of Hongkongers holidaying in expensive
      586 words
  • Page 17 Advertisements
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  • INDIA
    • 470 18/19 Reuters, AFP INEW DELHII The Indian government is aiming for 20 per cent export growth annually for the next five years to meet its target of doubling its share of global trade by 2009, Commerce and Industry Minister Kamal Nath said
      Reuters,; AFP  -  470 words
    • 688 18/19 Reuters [NEW DELHI) They've been dubbed "the mandarin and the Madonna": India's unelected technocrat prime minister and its elected, but unofficial, Italian-born power behind the throne. Since their surprise election win in May, the "odd couple" of Prime Minister Manmohan Singh and
      Reuters; AFP  -  688 words
    • 718 18/19  -  Investment up from S$19m in 1993 to S$2.2b last year; talks on comprehensive trade pact from tomorrow By AJOY SEN in New Delhi SINGAPORK'S two investment arms and local companies are pouring millions of dollars into Indian banking, infrastructure, civil
      718 words
  • ASIA-PACIFIC
    • 622 18/19  -  With deals worth over 25b pesos, the Manila JV is now one of the top investment houses By AL LABITA i in Manila WHEN a group of Singaporean and Filipino businessmen set up an investment house in Manila way back in 1997, not a few
      622 words
    • 184 18/19 AMALGAMATED Investment Bancorp (AIB) executive committee chairman Michael Wee is no stranger to Singapore's banking community, having worked at the DBS group of companies for 20 years before his 1995 retirement. Mr Wee was 60 years old whim he stepped down as executive vice-president
      184 words
    • 287 18/19  -  By ANTHONY ROWLEY in Tokyo ASIAN Development Bank president Tadao Chino confirmed yesterday that he will resign from the Manilabased bank from early next year, as reported exclusively in The Business Times on Monday. His successor has not yet been announced, but
      287 words
    • WORLD WATCH
      • 142 18/19 AFP (TOKYO) Japan's third-largest lender, Sumitomo Mitsui Financial Group, said yesterday it is not considering a hostile takeover bid if UFJ Holdings rejects its merger offer. "That could be one option theoretically but we have no plan to use that at this
        AFP  -  142 words
      • 98 18/19 AFP IJAKARTAI Indonesia's second biggest telecoms company Indosat announced yesterday a first-half net profit of US$77 million, a 78.5 per cent year-on-year rise, due to growth in its cellphone business. It said sales increased 30.7 per cent to 5.07 trillion rupiah
        AFP  -  98 words
      • 114 18/19 Reuters [HONG KONG] Hutchison Whampoa is set to pre-market an October initial public offer worth up to US$2 billion in Hong Kong and New York for its emerging market telecoms business, sources said yesterday. Hutchison, controlled by Asia's richest businessman. Li
        Reuters  -  114 words
      • 97 18/19 Reuters (SHANGHAI I Oow Chemical, the top US chemical maker, is in talks with potential Chinese partners to build a US$3 billion complex on the mainland to tap feverish demand for chemicals. The facility would include an ethylene cracker with
        Reuters  -  97 words
      • 169 18/19 Bloomberg [TAIPEI] Taiwan Semiconductor Manufacturing, the world's largest supplier of made-to-order chips, and its rivals face declining factory use in the second half this year on falling demand for consumer electronics, an analyst said. "Slowing sales in consumer products requiring advanced technology will
        Bloomberg  -  169 words
      • 162 18/19 Reuters [BEIJING] China should allow banks to offer higher deposit rates as rising inflation has dented people's enthusiasm to put money in banks, a State Statistical Bureau official said yesterday. Slowing growth in household bank savings in recent months has sounded alarm
        Reuters  -  162 words
  • Page 18/19 Advertisements
    • 100 18/19 fjjjp t 0N»' Following your own rules. X* The new Audi A6 I ,/Vh? l J' ws V<*» ultimate contentment in ttfe> A promo:-,r i.4 n*.-. ■-.>' i r I Oi having some lime for yourself You >no;. fh«* ansv.e" with MMI What does it take to orn n?- edao
      100 words

  • WORLD
    • 513 20 Those who shipped most jobs overseas won a pay hike five times the average CEO raise: study CHIEF executives at US companies that shipped jobs overseas won a 46 per cent pay hike last year, more than five times the average CEO raise,
      Compiled by BT  -  513 words
    • 502 20 Reuters, Bloomberg [HONG KONG] The infrastructure arm of Hong Kong tycoon Li Ka-shing and other investors will buy part of the gas distribution business of Britain's National Grid Transco Pic for about £1 billion (553.07 billion) to spur overseas growth, a banker
      Reuters,; Bloomberg  -  502 words
    • 413 20 [NEW YORK] US companies are sitting on large stockpiles of cash they have accumulated from rebounding profits rather than spending it, reflecting a cautious business outlook and reluctance to take risk, the Financial Times reported citing credit analysts. The London financial
      413 words
  • Page 20 Advertisements
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  • MOTORING
    • 562 21  -  But its design with just a few elements is a complex job, SAMUEL EE learns SAMUEL EE THE clean lines of the new Audi A 6 may look simple, but they were complex to design, revealed Satoshi Wada, the senior designer responsible for the exterior of the
      562 words
    • 470 21  -  By SAMUEL EE IN keeping with its delightfully creative commercials, Peugeot distributor Auto France will unveil the new 407 sedan not at an ordinary car launch but with a sneak preview tomorrow of the final two episodes of the final season of Friends. Auto France has been
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  • Page 21 Advertisements
    • 169 21 Prime Industrial Land For Sale Alexandra Road n 60m frontage V^\ 2 separate plots ye. "c 2" 54 41,000 sq ft each Awxanori o\\ th nilMn rorvo 1 C«ntr» c« Mtmrtu showroom Vacant possession i onowroofTi Private treaty #43 years lease wxct T l V/- CBRE Tel: 6224 8181 cb
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  • AVIATION
    • 678 22  -  Budget carrier's site saw over 4.5m hits; moves to improve booking system By VEN SREENIVASAN [SINGAPORE] Tiger Airways' promotional $1 tickets for its inaugural flights attracted such overwhelming response that its online booking website crashed and was out of service for much of
      678 words
    • 210 22 [HONG KONG] Australian no-frills air line Virgin Blue is in talks to launch t new China-focused airline from Macau, a press report said yesterday. A South China Morning Post repon said the new airline will ibcus on tapping the emerging China air travel market
      210 words
    • 396 22  -  It will push for more landing rights and development of three-star hotels By NANDE KHIN [SINGAPORE] The Asean Business Advisory Council (BAC) wants more landing rights for budget airlines in Asean-plus countries, or Asean plus China, South Korea, Japan. Through the Asean
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    • 473 22 Belgium Brunei China India Italy Japan Netherlands Portugal Singapore South Korea Thailand Belgium Brunei China India Italy Japan Netherlands Portugal Singapore South Korea Thailand Belgium Brunei China India Italy 1 11#-c Brunei China India Italy japan Netherlands uga I# DUriJt I I COUIHI ICS* Italy Japan Netherlands Portugal Singapore South
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  • SHIPPING
    • 567 23  -  S'pore-based ship chandler Sinwa implements own security code By DONALD URQUHART [SINGAPORE] Ships' supplies and provisions are a weak link in the security chain which could be exploited by terrorists, despite tough new interna-tionally-mandated security rules, according to a leading Singapore-based ship chandler.
      567 words
    • 282 23 SGX 000 Aug 31 SS W- Vol CH Offshore 0.37 unch 137 ChuanHup 0.55 0 01 905 Cosco Investment 0 86 0.02 ***** CWT Distribution 0 48 unch 15 Ezra Hldqs 101 0.01 53 Freight Links 0.10 unch 70 Grand Banks Yacht 0.80 unch 7 Jaya Holdings 0
      282 words
    • 314 23  -  By AL LABITA in Manila THE Philippines' largest container port operator has opened a control facility for dangerous cargo to comply with the new stringent international security and safety rules, company officials said. The International Container Terminal Services Inc (ICTSI) said the
      314 words
    • PORT SHOTS
      • 102 23 [NEW ORLEANS] The Greek-flagged, 98,880-dwt crude oil tanker Astro Altair hit a ferry terminal in New Orleans on Sunday, reportedly putting it out of operation for two weeks. According to local press reports, the vessel "lost steering" and veered into the structure. It is
        102 words
      • 113 23 Bloomberg [SEOUL] Hyundai Heavy Industries Co, the world's largest shipbuilder, said new orders rose by a third to US$B.7 billion in the first seven months of this year, as rising international trade spurred demand for new ships. Shipbuilding orders rose 70 per cent from a year
        Bloomberg  -  113 words
      • 129 23 Bloomberg [SINGAPORE] The cost of shipping gasoline, jet fuel and other so-called clean petroleum products from the Middle East to Asia may rise as increased hiring of ships reduces the number of available vessels in the Middle East. The rate for ships
        Bloomberg  -  129 words
  • Page 23 Advertisements
    • 101 23 t-*-"* «l Zivtx* rfi*". tw- 3&&-Xf J I k V 7 ||~C? S »r-""«" s If J _J V yl n nil \JT Your Partner in the Singapore Maritime Industry Singapore Maritime Foundation we co-operate with different sectors of the maritime industry and government agencies to create more opportunities for
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  • EDITORIAL & OPINION
    • 532 24 ALTHOUGH oil prices have eased from a historic peak of U5548.70, it may be only a respite the factors behind the 37 per cent run-up in prices in the last two months have not disappeared. The confluence of events that vaulted oil prices
      532 words
    • 1326 24  -  A decade of economic liberalisation and competition has left Indian companies leaner, meaner and more confident of making overseas acquisitions YOGI AGGARWAL A QUIET revolution is taking place in corporate India. Just a decade ago Indian companies were running scared as the economy opened to foreign
      PHOTOS BY AP,; REUTERS  -  1,326 words
    • 739 24  -  THE BOTTOM LINE ROBERT SAMUELSON AS Republicans gather in New York, the lacklustre job market must dishearten President George Bush. He had hoped that a strong economic recovery would favour his re-election, and in some ways, he's gotten his wish. Gross domestic product
      739 words

  • MAILBAG
    • 610 25  -  Ee Teck Siew Singapore I REFER to the BT article. "CAO's shine all due to one man" (Aug 19). Mr Chen Jiulin. managing director of main board listed China Aviation Oil. turned around the haemorrhaging foreign subsidiary of a Chinese state enterprise within a
      610 words
    • 271 25  -  Tan Kok Tim Singapore I COMMEND the government for listening to grassroots feedback in setting up the Council on Governance of Institutions of a Public Character. And I look forward to the council's report on public feedback on good governance. Overseas, the American Internal
      271 words
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    • 19 25 rETo^n Lianhe Zaobao I Chinese I entrepreneurs! peworM'l I by Chinese I medio? I I sv&*e «s«fSSiie 1 I;
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    • 300 25 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      300 words
  • Page 25 Miscellaneous
    • 308 25 CRYPTIC CROSSWORD 1 A variety of larches not seen in 6 The attraction of the lottery (4) -jg— HH H__ Hi WM 11 The salesman allowed one a m| thereby giving satisfaction 13 There's very little here to 91 15 Delivered plant without charge "is Their activity H H HlllHlßilllilß
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  • 9858 26 STRAITS TIMES INDEX STOCKS Stock name Wt Oof Chang# stock name Wl Qw O*—9* Allgreen 50c 0.31 1.060 >0050 NOL 2.09 2.820 -0.030 BIL Intl US20c 0.50 1.030 +0.045 OCBC 10.53 13.300 *0.100 CapitaLand 1.11 1.590 +0.050 Parkway H 25c 0.62 1.280 +0.030 Chart SemiCond 26c 0.86 1.090
    9,858 words

  • 5265 27 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES ta tac*l ran tatt MUSS yr tfy yr ity %yt Aug 30 lnd«» 0>«iq« O\tngt Chug* Qvng* Owiq» Owtg* World Index Preliminary 783.7 -0.2 0.7 -0-2 03 -03 -0.7 EAFE Preliminary 720.7 -0.1 2.8 -ft! 0.8 -0-2 -0.1 Eurqpe Pretirranary 976.7 -0.1 0.9
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  • Page 28 Advertisements
    • 1410 28 I 1 T0 USA,CAN *M [vßsa |wr m |rosw| long malamAs I Houston I MaiPHKloaafinimwYnM to Australia mmtoh >■.» ~i I P&O NEDUOYD HOUTMAN 25E34 (MI 01/09 7/09 23/09 24*9 2W EXPWgS^ P&OKHXiOTDKOBf 4207 OMIT o(*9 24/W 30/09 01/10 29/09 29/D9 02/10 ~~r: VOVIIUSW _W6 STT> Mfl lAW IDS ANGBES
      1,410 words
    • 452 28 iIINTMAHA llOtO IHVICI umm I HBOffSi HU» KM to is STKAUS VEWTUKE/10 15 3.J 07/ M 11/W li/W STUITS VEHTUIE /11 IS 3J n/W 25/W M/W SUMTSyBCrug/l? JS_ 3J MO 04/10 07/10 Ifl/io |yi o [WMTA«iA/»«MQAlMO«OIV| rtttMwn/x iso ~jwT ow 1 »ml STU/TS EXPRESS/33 30 «S 10/W 221 I« I
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    • 625 29 ~S- <iw wwpt Kw MB <fwt IK ~j smmmu^jmiisjaaiutmas' I on our Home Page: wvywj^^^M^l EpiisEF'* I South America East Coast West Coast and Mexico I Afct^ftfaiwh— I I "f. l v rr "**"l ss I "•rr nT= i—i. |r— j to* jg-——iMß- wybw zffz 1 Jjj.J |g—s-=g- K Jn
      625 words
    • 740 29 leastern car liner, ltd If i SPtOAUZI M RORQ C HEAVY LifT UPTO 450 TONS wtra-asu sarvKi ——r— r- m*! aw m rm m I *tmi snweTum u ia BHunS 77 Di 3S z 3j/pi ißßsre? 1 1 IPS—~mr um a w~ I —TT7WWuSi "—j I-S3? w/w i li/W .Zjg
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    • 823 29 "JJllpi DONGNAMA LINE I CONTAimit»B) MBVId 41 VBSaGVBYWW VOY f»~I HKC MC PUS I mkmmm «im m/m ii/h 17/ M m/m HI «n NH IS/M 19/ M M/M 17/ M MOMI 403 D |n/M 26/09 01/10 M/ 10 JI VESsaavßTsa) vot s» we I KOUHMMM HNI67 M/M M/M KOUHMtn HIM
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    • 810 30 M|(A# WALLENIUS WILHELMSEN website: http://www.2wglobfll.tom ||VtSSB VOT Hump* am 17 4?oim mm I n/w I h/w 04/10 11/10 11/10 10/11 14/10 10/10 00/io I TAR AGO AMIS 330W 6.4* I 21/09 I 11/10 21/10 29/10 01/11 01/11 04/11 25/10 iTEXAS AMI 9 4201 m MOM 02/10 1 25/10 03/11 10/11
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    • 347 30 SS==S==BS==S3= «=#==SS=Jfc S==g;=3f rJSI -SBu- Sfe S= 2SP HE? mu^MG__ SB m W Hga-ti^ te £?£ft? 7 9 Wf— Jrs-m <m^4«*n AK«W W-SttSMOO NILI, I 21-765 M 7 frfl, SU}'" StiS&r" Sgr aissss, 1 WAN HAI MIhcNADONAL Pit LID atlK)El4MsnooM/l WiWAN HAI LINES www.wMtMi.tMkt! g?g*g»*»»«M»»n«« W gnSr *M-g*!l*iyWiM:<»H)4)sWg/4)qiW Bss. 181
      347 words
    • 122 30 £SP" 2ff 2£ ""Sum* 27/ M W/Ot M/H iMW/raUMMIU £2£ n/2 2/2 2/2 U£ 2 7 /2 22! nun MM M/M M/M M/M SAMNG/MAUMYATI U/M M/M H/W MWMUI/rwyK VBffi fit 01 1 HSTWATIOM mn ii/m m/m m/m jakaita/ckamik FAiAIHAS M/M M/M M/M SUUMTA/WM nMUSMCTI M/M M/M 11/ M OtBON/WURANG MMASAMJMA
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    • 502 30 I 3 MYANMA I FIVE STAR UNE I I (MjfMNT Natiood Um) II LMdhf for Ym| Hi vissa vor sm ra pen pgu j MOAN 332W SID npa-an now SU> SU> ■II M BAUTSIA: OOVSTEAO SHIFTING AGENCIES ■II IdL 03-*****300 PtL 03-3174*101 PEN: 04-2****** I ACCEPTIMQ COiYEiTIOIAL CM I NK
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    • 740 31 Abasia Mines Vtssa VDT Qffl KOI SMZ TYO TDK HM Kl SGf »(SH «W (0? WW frg |m» SB TTO TOE MOl OASIS 5254 25/08 M 26/08 27/08 28/08 "oTToT M/oT OVoT MOToSs N2sT 17w oT« m¥ il/M H/W U/09 Tyjjj iTw MOltramiY SOIO 31/ D« 31/01 01/09 02/09 03/09
      740 words
    • 196 31 II E P T CARHIEBS fiu ji rn s«mnc siyAfo<|^or^KUM-Tmo»[ cbhohg awi'S _a/5m ""27/mSm «i^»S 5h05 IgHnji jjjjffij?' —j|/|jS w wwc BW4MM if/ii in a/rnwi if/ii w i?i VlinUM IXKISS tIKVKI WIHIT FIHD DAT SAIUIIt tINWOM VIITIUM SimMW 11 ijjjtl I tffu I IWAirtMWG flow H/W 30/0t 07/10 M/ 10
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    • 649 31 I I IMCQ MA*TH:M2HJJ3FU;MJI-SJ7I I I /CJCJ iJlrir aisiOMsavn: monism rot 6227*190 I I iJßmmsi s«WGAfo«fc rowGjooswrwornup OfwAFOtCOOfcre > m I Q MO: *****M0000C MH«|HHI IM.I| Wsfeftr wwmjfMmt.um I fli SSHiSiS ****~w/ov u/w CBHON6 l*/io a/io~ I In mnrimnt M* m jvcsa vor r»an n»u m vissa vot rasa tw
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    • 464 31 ■JMHHjHgSEA 213N 07-08/09 12-13/09 19-20/09 1 214* 07-01/09 14-16/09 21-22/09 ■ii|«W 215* 12-13/09 18-20/09 26 27/09 1 V M M,5/w 21-23/09 28-29/09 1 217* 19-20/09 25-26/09 02-03/10 1 KuMi9 J JK. lil M 5/w "-WW 21 22/09 I ■■■■KLL 005 06-07/09 1 2-14/09 21-22/09 I 27-2M)J Egjgj™j*|j*j«_ HI 04-05/09 09-10/09
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 6404 32 llflINI S w «ar s* a "szz* ss sss T sssr s? U2t «e? SL^JSSSL 3g8SS^g3^SWjSsSS88^gegSagSSS*****M*****a80a[ 0DiaGB(IOIlil l '*****SaS8aS^8»aDiDI!W»OMBMIICW0JWCS8& NIKUMMnSSm tHMMMMMMMMOIOHMIM MMM&SnM < 98* To GUAYAQUIL (GYE) 2142 1*» 14(10 MB. RAN SHAHRYAR PCL8045 *****144 lb NOWOUC (ORE) 2280 U.S. 1M9 01/11 CMACGM CMACGM
      6,404 words

  • EXECUTIVE INVESTOR
    • 1696 33  -  The ever hungry Singapore consumer is spoilt for choice as banks dish out dining discounts to win business. JOYCE KOH and TAILA KRISHNAKUMAR find out more JOYCE KOH, TAILA KRISHNAKUMAR IF the way to a man's heart is through his stomach, one might assume it's the same route
      1,696 words
    • 480 33  -  By JOYCE KOH THEIR job is droolworthy. They are the people who go around to the restaurants, sampling the food to bring you the best deals in their bank's dining programmes. After all, the hundreds of restaurant tie-ups don't just happen. Behind all the dining
      480 words
    • 1048 34  -  MONEY MATTERS The longer US markets remain range-bound, the more compelling Asia becomes LIM SAY BOON ASIA appears to be reestablishing itself as the market to be in for equities, even if locals are finding it hard to believe it after seven years
      Source: Compiled by Foo's Fund Service  -  1,048 words
    • 236 34 AFTER the one-year rally in US equities, triggered by the toppling of Saddam Hussein, the S&PSOO has found itself trapped in sideways action that has been frustratingly difficult to trade. About a month ago, the S&PSOO chart cut below the crucial 200-day moving average. That led
      236 words
    • 2850 34 UNIT TRUSTS FUNDS O** Agricole tat* Mot Spore Ltd Fidelity TaiwanUSD 5858/ H1SF Adventurous Fd SGD 1.***** 8529 Chma Growth USO 0 764A795 U5J Enhanced Return Fund 0.948/ U Com Bond Fd 0.9588/0 9924 Junior 0.677M.7135 CAAM Fund! ~„„.Z 1.0140.066 Fidelity TaiwanB USD 19.6® H6f Manod Fund SGD 1.***** 9265
      2,850 words
    • 960 35  -  YOU AND THE TAXMAN Under the new one-tier tax, an operating holding company has an advantage over a pure investment holding company. Ernst Young explains By POK SOY YOONG The one-tier tax system was introduced on Jan 1, 2003. It will not take full effect until
      960 words
    • 551 35  -  COVER STORY: TRUSTS By GENEVIEVE CUA REGUIjVTORY changes are expected to usher in a more challenging operating backdrop for trustees. But clients, who are the settlors of a trust, can expect two-fold benefits. They'll enjoy relatively greater flexibility, for one, in their trust instruments, and the assurance
      551 words
  • Page 33 Advertisements
    • 90 33 International Business Park (IBP) Close to Jurong East MRT station and bus interchange Raised floor system Column-free layout The Synergy &A 142sqm onwards u| Great tenant mix I iw« Column-free layout y Changi Business Park 10-min drive to Changi airport and close to PIE ECP The Signature 127sqm onwards Next
      90 words


  • Page 35 Advertisements
    • 113 35 Q DBS ASSET MANAGEMENT Bfpr *j i£ it KH«|Hp& i^ fc''.',-' I-. f<L' B L I A 1 v 1 ill k w 1 8888 B B k TNs for to the specific objectives, financial situation and particular needs of any specific pareon who ffwyreceive this document DBS Bank or
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  • executive investor
    • 904 36  -  Wealth management gets a boost with changes in Singapore's Trustee Act. GENEVIEVE CUA reports GENEVIEVE CUA SINGAPORE'S arcane Trustee Act is set for a major overhaul that is expected to strengthen the country's bid to become a major player in the hotly competitive race to manage private
      904 words
  • Page 36 Advertisements
    • 114 36 story is getting more v k "^r Leaders are always perfectly balanced. NOW even behind the wheel. BMW 5 Series with Intelligent Lightweight Design.Your statement. Making decisions in today's business world means taking full responsibility. When developing the BMW 5 Series, it was our engineers who took control. Their initiative
      114 words