The Business Times, 28 September 2004

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Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MITA (P) 023/03/2004 Tuesday, September 28,2004|
    15 words
  • 628 1  -  Talk of corporate restructuring and more rig deals fuels price rally By JOYCE KOH [SINGAPORE] Shares of Keppel Corporation and SembCorp Industries powered to new highs in heavy trading yesterday on a likely surge in oil rig contracts and murmurings of a possible
    AFP  -  628 words
  • 132 1 STI 1,983.39 (+9.93) ST INDEX FUTURES 1,980.00 (unch) siMsa 239.04 (+0.99) SIMSa FUTURES 239.00(40.70) MARKETS Monday Change KLSECOMP 848.28 -7.04 NIKKEI 225 10,859.32 -35.84 HANG SENG 13,021.90 -44.94 SET INDEX 646.78 -7J2 JAKARTA COMP 815.58 -4.24 MANILA COMP 1,760.33 -2.97 SEOUL COMP Closed SHENZHEN B 244.99 -4.24 BOMBAY
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  • 47 1 TOP STORIES ...PG 2,4 COMPANIES PG 5-7,9 MARKETS PG 8 SINGAPORE PG 11,13 ECONOMY PG 14 M'SIA/INDON.. PG 16 CHINA PG 17 INDIA PG 18 WORLD PG 19 AVIATION PG 20 SHIPPING PG 21 EDITORIAL PG 22 LETTERS PG 23 STOCKS PG 24-25 PROPERTY.. PG 30-32
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  • 243 1 Reuters [LONDON] British billionaire Richard Branson said yesterday that his Virgin Group would begin offering space flights in 2007 for groups of up to five passengers. "It could cost us up to US$lOO million to invest," he told reporters. Flights are expected to last
    Reuters; BEN CRUZ  -  243 words
  • Page 1 Advertisements
    • 46 1 HOCK LOCK SeW Time for detailed disclosure of executive pay pgs BUYING A PROPERTY OVERSEAS? In the first of a 5-part series, we look at the opportunities and pitfalls for both expats and Singaporeans re 30 r More hotels for Sentosa Who's building what re 32
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    • 24 1 —Ql inrnnr'r mrinr" I WITH A DIFFERENCE A new breed of companies is BL making inroads in S'pore pg 4 ***** 8 *****1 *****4
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    • 34 1 oly*9 ARM T TOROSIM AhM Takeover of GNC franchisee set to :j boost its nutrition business pg 5 I j, J A m <► New look. New season. MARKS SPENCER (Cnlicpoinl I cvcls I 1
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  • TOP STORIES
    • 440 2  -  Aug performance dragged down by 39% contraction in biomedical cluster By NANDE KHIN GROWTH in total factory output slowed in August to a 5-3 per cent year-on-year Race on the back of a significant contraction in the bioijiedical manufacturing ouster, latest figures from
      440 words
    • 759 2  -  By RONNIE LIM [SINGAPORE] More than two dozen groups are vying to carry out a feasibility study into the use of liquefied natural gas (LNG) to help meet Singapore's growing power needs. It would take six or seven years to get
      FILE PHOTO  -  759 words
    • 547 2 Osim nutrition business may get booster shot OSIM International chief executive Ron Sim remained tight-lipped about his impending takitver of GNC franchisee Global Active, big analysts say tfemflgaqtffid be a shot intfie lacklustre nutrition business. COMPANY NEWS, PG 5 ir Make executive, director pay more transparent IT'S time
      547 words
    • 618 4 Investments more varied; worth up to $1.8b annually in past 5 years [SINGAPORE] Japanese small and medium-size enterprises are slowly making inroads into Singapore and not in the traditional manufacturing sector. "If we look at the trends of companies that came to us
      FILE PHOTO  -  618 words
    • 542 4  -  By CHEN HUIFEN [SINGAPORE] China may be a cheap manufacturing base, but in Singapore there is greater access to quality components and engineers. That observation came from Japanese high-end dental equipment maker Morita Medical Engineering, which plans to start assembling its products here
      542 words
    • 694 4  -  By ANTHONY ROWLEY in Tokyo JAPANESE Prime Minister Junichiro Koizumi yesterday reshuffled his Cabinet in what was widely seen as a lacklustre attempt to revive his flagging popularity, as well as that of his administration. But financial markets were more focused on
      AFP; REUTERS PHOTOS  -  694 words
  • Page 2 Advertisements
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    • 28 2 cooking classes? Reach out to more readers by advertising in The Straits Times Classified. Call our 1800-289-9988 and our friendly sales personnel serve MIW I V Buy It.
      28 words

  • Page 3 Advertisements
    • 72 3 THE HOURGLASS AUSTRALIA HONG KONG JAPAN MALAYSIA SINGAPORE THAILAND SINGAPORE MALAYSIA (*****-KJ TAKASH I MAYA S.C. TEL 65-6734 2420 MILLF.NIA WALK TIL 65-6339 4870 KUALA LUMPUR SO )TTN S.C. Til 65-6235 7198 LUCKY PLAZA f I I 65-6733 1262' SURIA KLCC TEL 603-2164 6388 RALLLLS HOTEl A RCA I >
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  • Page 4 Advertisements
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    • 61 4 We refer to 'SIAS Investors' Choice Awards Supplement* full page advertisement in The Business Times on 27 September 2004 (Monday) where Capita Mall Trust was erroneously reported as a "runner-up*. Capita Mall Trust is the WINNER for the 'Most Transparent Company Award 2004', REITs category. We apologise for the error.
      61 words
    • 19 4 Releasing a financial statement? Call 1800 289 8822 or email notices§sph.conusg to book your advertisement in our newspapers now.
      19 words

  • COMPANY NEWS
    • 723 5  -  Analysts say Global Active's GNC stores could help it break into the market By KENNETH LIM OSIM International chief executive Ron Sim remained tight-lipped about his impending takeover of GNC franchisee Global Active, but analysts say the move could be a shot in
      723 words
    • 614 5  -  HOCK LOCK SIEW By WONG WEI KONG NOW that charity organisations may soon have to go public on how much they pay their top executives, the spotlight should also fall on how poorly listed companies have done in disclosing the remuneration of
      614 words
    • 329 6  -  Amount is allegedly for helping the China firm sell shares in S'pore By JEAN CHUA GUANGZHOU-BASED Devotion Eco-Thermal is contesting a HL Properties claim in court that it had failed to pay service and referral charges for a share placement in Singapore. Financial
      329 words
    • 397 6 By TAILA KRISHNAKUMAR IN reply to queries from the Singapore Stock Exchange (SGX), Daka Designs said yesterday that it was not aware that a change in its customer mix would adversely impact its profits until Sept 20, at which point it promptly issued a
      FILE PHOTO  -  397 words
    • 383 6  -  By JOYCE KOH A FLURRY of China-based companies yesterday lodged their preliminary prospectuses with the Monetary Authority of Singapore amid a recent uptick in market activities. The three new companies that hope to list here are Zhonghui Holdings, China Sun Bio-chem Technology Group Company
      383 words
    • 42 6 UNIT TRUSTS FUNDS LEGEND: All prices are indicative; Broadly Diversified; Narowly Focused; S Lower Risk; Low to Medium Risk: Medium to High Risk; Higher Risk; open-ended; Before subdivision of units; After subdivision of units; SP after stock split; N.A. Non Dealing Day
      42 words
    • 564 7  -  Revamp scheme with banks will wipe out debt revive its finances By JEAN CHUA CONSTRUCTION group Wee Poh Holdings has found a new partner to save it from bankruptcy after a deal with a Chinese firm fell through on regulatory concerns. It
      564 words
    • 352 7  -  By TAILA KRISHNAKUMAR PLASTICS packaging maker China Flexible Packaging Holdings (China Flexpack) notched a solid 24.3 per cent year-on-year rise in net profits to 124.59 million renminbi (5525.5 million) for the nine months ended July 31. 2004. Turnover jumped 46.3 per
      352 words
    • 569 7  -  By KENNETH LIM SHARES of mainboardlisted China Merchants Holdings Pacific surged to a seven-month high yesterday after its Hong Kong parent unveiled plans to inject a China toll-road business into the firm and to distribute a special 2-cent dividend. The deal
      Source: Bloomberg  -  569 words
    • 360 9  -  Majority-owned venture will operate fleet of 400 public buses By SAMUEL EE TRANSPORT giant ComfortDelgro yesterday entered into a Ss44 million joint venture to operate public buses in the northeastern Chinese city of Shenyang. The company will take an 80 per cent stake in
      FILE PHOTO  -  360 words
    • 409 9  -  These are the top defensive markets; avoid cyclical plays like technology By SIOW LI SEN THE global economy is heading for a slowdown and for investors who have to stay invested in equities, the defensive markets are Hong Kong and Asean,
      409 words
    • COMPANY BRIEFS
      • 57 9 SEMBCORP Marine said a fire broke out yesterday in the pump room of a vessel, JagArpon, that was being repaired at its Jurong Shipyard. All 12 persons working in the pump room were immediately sent to hospital. Eight were given outpatient treatment, and the
        57 words
      • 54 9 CSE Global Ltd (CSE) recently won two sub-contracts totalling $21 million related to the Electronic Road Pricing (ERP) system of Singapore. Both projects, being multi-year in nature, will have a positive impact on CSE's net earnings for this year as well as the next
        54 words
      • 46 9 THE second edition of The Lianhe Zaobao Investors' Guide profiling listed companies will be launched today. It will feature nine SGX-listed companies, and each corporate profile will be a summary of the corporate information tailored to a retail investor's needs.
        46 words
      • 132 9 CAPITALAND yesterday clarified an earlier interview in China when the company talked about the role of its Reits' business potential in the Asia-Pacific region. The property firm said it was not in the position to provide an estimate of the asset value of the
        132 words
      • 62 9 INTERRA Resources Limited said it has used $1.28 million ofits net proceeds from the share placement amounting to some $15 million to finance the drilling expenditure at the Tanjung Miring Timur oil field in South Sumatra. Together with $7.11 million used as announced
        62 words
      • 42 9 THISTLE Hotels said it has taken over the long term management of The Cumberland Hotel, London. The Cumberland is due to open to the public next month, following a £95 million (Ss2Bs million) rebuild and refurbishment programme.
        42 words
      • 61 9 STRIKE Engineering Limited said it expects to record a loss, upon completing its two tranches of divestment exercise at Lantrovision. This amounts to about $161,000 and is not expected to have a material effect on the consolidated net tangible assets and consolidated earnings per share of
        61 words
  • Page 5 Advertisements
    • 347 5 yjl nly with the American Express* Singapore Airlines KrisFlyer Gold Credit Card the fastest way to earn KrisFlycr miles all year. Now with a chance to win a Singapore Airlines Economy Class air ticket to a favourite destination every day*, you might just fly for free* even sooner. The prize
      347 words


  • Page 7 Advertisements
    • 4 7 rypuing c car? isoo-289-9988.
      4 words
    • 131 7 1 i I isJßr i'i a, j~*f. Book a British Airways Club World (business class) return ticket on your MasterCard before 14 October, for travel between now and 30 November 2004 to London, Sydney or Melbourne, and receive a complimentary FIRST upgrade one way. To book, call your NATAS travel
      131 words

  • SINGAPORE MARKETS
    • 487 8  -  STOCKS Most sector indices advanced, especially those for multi-industry and foreign issues TEH HOOI LING Senior Correspondent THE Singapore market started the week on a firm note, with the Straits Times Index breaking its three-day losing streak to end at the day's high of 1,983.39.
      Source: Bloomberg  -  487 words
    • Article, Illustration
      864 8  -  Compiled by KENNETH LIM Citiraya Industries Sept 27 dose: $0.83 BNP PARIBAS PEREGRINE. Sept 27 RIGHT moves: Despite the setback under the old management team, the new team has very quickly brought Citiraya back on track, con* solidating its first-mover advantage via mega e-waste recycling deals with global
      Source: Bloomberg  -  864 words
    • 509 8  -  CURRENCIES LARRY WEE Senior Correspondent THE yen tumbled as oil prices continued to rise relentlessly yesterday. The Japanese unit sank to sixweek lows versus the US and Australian dollars and a four-month low versus the Singapore dollar. The US dollar recorded an in-tra-day high
      Source: Reuters  -  509 words
    • TRADES TO WATCH
      • 120 8 NEPTUNE Orient Lines directors Lim How Teck and Can Chee Yen have accepted the $2.80 a share general offer by Temasek Holdings. Mr Lim, the shipping line's chief financial officer, exercised 300,000 shares on Sept 15 at $2.14 apiece and yesterday sold them all to
        120 words
      • 76 8 WHILE it accumulates NOL shares, Temasek's deemed stake in semiconductor chip tester United Test and Assembly Center has been falling. Since March, some 6.4 million shares held by UOB Asset Management and the Vertex investment companies have been sold on the open market. Temasek's
        76 words
      • 68 8 BROADWAY Industrial Group executive chairman Wong Sheung Sze saw his deemed shareholding increase to 12.98 per cent from 10.61 percent after JNC Wong Investments bought 3.5 million shares at 28 cents apiece in a married deal yesterday. Mr Wong is a director and shareholder of
        68 words
      • 60 8 US mutual fund manager The Capital Group's deemed stake in Singapore Post rose to 9.08 per cent from 8.08 per cent between Aug 27 and Sept 23 after 19 million shares were bought on the open market. No price information was given. Shares of
        60 words
      • 58 8 FUND manager Prudential Asset Management's deemed interest in precision plastic manufacturer First Engineering shrank to 6.62 per cent from 8.1 per cent on Sept 22 after 3 million shares were sold on the open market for an undisclosed price. First Engineering slid 3 cents or
        58 words
      • 58 8  -  Compiled by KENNETH LIM UNITED Food clarified that a 10.7-million-share open-market sale by executive director Wang Wenguang on Friday last week was made at about 37.8 cents apiece, not 73.8 cents apiece as was announced. United Food shares gained one cent or 2.7
        58 words
    • Article, Illustration
      445 8 OTHER SINGAPORE INDICES Sep 27 VALUE CLOSE BT OB/OS -111.00 -140.00 BTCAPI -*****.00 +33.00 BT 10-day MA -*****.00 -11.00 All-SG Equities 519.13 +2.89 SG Equities Elect 157.27 -1.03 SG Equities Fin 1606.57 +5.21 SG Equities Prop 482.45 +4.10 SIMSCI 239.04 +0.99 SiMSCI Futures 239.00 +0.70 MOST ACTIVE STOCKS VOLUME KepCorpSGA
      445 words

  • Page 9 Advertisements
    • 280 9 PHARMESIS Pharmesis International Ltd. (Registration No. *****9641E) (Incorporated in the Republic of Singapore on 29 September 2003) Invitation in respect of 50,000,000 new ordinary shares of 550.04 each comprising:(a) 3,800,000 Offer Shares at $0.25 each by way of public offer; and (b) 46,200,000 Placement Shares by way of placement, comprising:(i)
      280 words
    • 258 9 IWC. Official supplier to men. In former times, on the seven seas, the size of the instruments had a positive effect on the accuracy of navigation. So it is no surprise to find that everything in the Portuguese Perpetual Calendar with its mechanical movement is on a slightly larger scale.
      258 words

  • SMALL CAPS
    • 1272 10  -  Koda has shifted from being an OEM to an ODM, which has helped the company cut out the middleman and sell directly to retailers. It has also focused on making more upmarket furniture with its range of upholstered leather, fabric and oak products.
      Source: Bloomberg  -  1,272 words
    • 632 10  -  By TEH HOOI LING OUR small capitalisation stocks portfolio has outperformed the UOB Sesdaq Index for the seventh straight week. In the five trading days to yesterday, it edged up 0.9 per cent. This compared with the UOB Index's 0.4 per cent rise and the Straits
      632 words
  • Page 10 Advertisements
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      102 words
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      40 words

  • SINGAPORE NEWS
    • 447 11  -  Analysts remain upbeat as they predict increased investor demand By KALPANA RASHIWALA INVESTMENT sales of property totalled $4.37 billion in the first nine months of this year, exceeding the $4.16 billion for the whole of last year, figures from CB Richard Ellis (CBRE) show.
      FILE PHOTO  -  447 words
    • 363 11  -  Higher consumer spending also spurs issuing of cards By TAILA KRISHNAKUMAR THANKS to a healthy rebound in domestic consumption, MasterCard International said yesterday its credit card usage volumes in Singapore rose 24 per cent to US$9lO million for the the first six months
      363 words
    • 281 11 The Registers of Electors have been revised and will be displayed for public inspection at the 23 constituencies from today until Oct 11. The Registers will also be put up at all overseas registration centres in Singapore embassies. The Elections Department
      281 words
  • Page 11 Advertisements
    • 93 11 iSSI yßffTflFw 111 1H33 IH9 A prestigious redeveloped Grade II listed building set in 13 acres The first release from Westcity Properties, the developers of The Pavilion in St John's Wood, West End Quay in Paddington and The Phillimores in Kensington. The Sir Giles Gilbert Scott Building Whitelands Park Putney,
      93 words

  • FOCUS: INDUSTRIES
    • 1407 12  -  SEMICONDUCTORS High oil prices, low demand for electronics and computers, rising chip inventories and gloomy forecasts are making the semiconductor sector sick with worry, says RAJU CHELLAM RAJU CHELLAM LATE last week, European semiconductor giant Infineon Technologies AG opened a US$l billion test and
      Source: Bloomberg  -  1,407 words
    • 388 13  -  Less than 30% in E&Y survey put IT training, awareness as a top priority By TANG WENG FAI SINGAPORE companies appear to be waiting for disaster to strike, instead of taking precautionary action to beef up their IT systems against both external and internal
      388 words
    • 196 13 ELECTRICITY tariffs will rise by an average 1.1 per cent or 0.18 cent per kiloWatt/ hour for the October to December quarter. Singapore Power said in a statement yesterday that the increase is due mainly to higher oil prices. Current tariffs are pegged
      196 words
    • SINGAPORE ROUNDUP
      • 77 13 VOLVO may boost its market share in Asia through an acquisition, the Swedish automaker said at the opening of its new regional headquarters in Singapore yesterday. Channel News Asia reported that Volvo is planning to expand its share of China's truck market, and
        77 words
      • 67 13 MOBILE phone operator Mi's prepaid roamers will be able to direct-dial when roaming a service currently offered only to its postpaid roamers. Prepaid roaming using direct dial will initially be available on Vodafone networks in Italy from tomorrow and in Australia a week later.
        67 words
      • 60 13 VIVIAN Balakrishnan, the Acting Minister for Community Development, Youth and Sports, will attend the four-day inaugural Asean-China Ministerial Meeting on Youth which begins in Beijing today. Besides discussing the challenges and issues facing youth, the ministers will sign the Beijing Declaration, which will
        60 words
    • 613 13  -  Firms taking part in this year's HOTPitch event get tips on how to present their case By CHEN HUIFEN IMAGINE getting into an elevator with a potential investor, before the doors open at the destination floor. In that short span of time,
      613 words
  • Page 12 Advertisements
    • 1188 12 1800 289 8822/ Email: notkesOsph.coai.sg PCI LIMITED (Incorporated in the Republic of Singapore) Co.Reg. No. *****4482N Notice off Annual General Meeting NOTICE IS HEREBY GIVEN that the FIFTEENTH ANNUAL GENERAL MEETING of the Company will be held at The Board Room, 390 Jalan Ahmad Ibrahim, Singapore *****5 on Thursday, 21
      1,188 words
    • 50 12 L-Of I If J jelling I car? I Reach out to more readers by advertising in The 1 Straits Times Classified. Call our C.A.T.S. hotline at IcAXS. 1800-289-9988 and our Buy It. Sell It. Find It. j I friendly sales personnel I will serve you. u mm mmtmsm&immmcijpt ?k\-mm m
      50 words

  • Page 13 Advertisements

  • ECONOMY WATCH
    • 895 14 Analysts cut growth forecasts as global demand for electronics dips Bloomberg [SEOUL] Asian economies are slowing as global demand eases for the electronics goods that have driven growth, including laptop computers made by Acer Inc and Samsung Electronics Co's flat-panel displays. Liang Hong, an economist at
      Bloomberg; REUTERS FILE PHOTO  -  895 words
    • 485 14 LATEST US DATA Reuters Bloomberg [WASHINGTON] US new home sales jumped a surprising 9.4 per cent in August, the fastest acceleration of sales in almost four years, as a fresh dip in mortgage interest rates attracted buyers, a government report showed yesterday.
      Reuters; Bloomberg  -  485 words
    • 660 14 Economists expect growth in eurozone to remain subdued Bloomberg [FRANKFURT] Business confidence in Germany, France and Italy, the biggest of the 12 economies using the euro, probably fell this month, suggesting economies may struggle to accelerate growth, surveys of economists showed. The
      Bloomberg  -  660 words
    • 551 14 Reuters [WASHINGTON] Global finance chiefs may admit this week that soaring oil prices are a cloud on a generally sunny world economic horizon but they will likely dismiss any chance they could drown growth. Politics and economics anchor the optimism of Group of
      Reuters; AFP  -  551 words
    • 169 14 Reuters [JAKARTA] The Opec producers' cartel is supplying enough crude oil to the global market and near-record oil prices are not due to any supply-de-mand imbalance, president Purnomo Yusgiantoro said yesterday. US crude futures raced higher yesterday, making a session peak at U5549.36
      Reuters  -  169 words
  • Page 14 Advertisements

  • MALAYSIA COMPANIES
    • 445 15 [KUALA LUMPUR] Southern Bank Bhd is banking on its core market segments to ensure growth, The Star says in a report, citing its chief executive director Tan Teong Hean. "This is a niche bank and our resources are not infinite. Accordingly, we are focused;
      445 words
    • 441 15  -  The incumbent will run the overseas operations of his banking empire From EDDIE TOH in Kuala Lumpur FORMER Malaysian Finance Minister Daim Zainuddin is searching for a chief executive officer for his far-flung banking empire. "In line with our expansion plans, establishment of banks
      441 words
    • 220 15 Bernama [KUALA LUMPUR] EON Bank Bhd has proposed to merge the operation of EON Bank Bhd with EON Finance Bhd via a transfer of EON Finance's business and net assets to EON Bank, EON Capital Bhd said yesterday. "The resultant merged business shall
      Bernama  -  220 words
    • 510 15 [KUALA LUMPUR] Malaysian Resources Corp Bhd (MRCB) is set to capitalise on the current robust property run-up, a year after a massive corporate and debt restructuring exercise that resulted in a lean and focused group, The Star reported yesterday. Despite being listed in the construction sector
      510 words
    • 4 15
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  • Page 15 Advertisements
    • 230 15 GLOBAL WIFELESS VENTURING Vmntm Suntec International Conference Exhibftion Centra, Singapore FORUM 2004 IMEB For more information Registration dctails: Register now irom A as low as ssiso* www.nus.edu.sg/globalwineless a! Investment,lntel Global ofa2daycoi*nm{^flD<hMfoatrMMliiBft m foriraand CMBrtng bijafreea networtfrQ wwelorw for vtntom vanfawand f It tarings as >mbl far Grnbtr cbme, as mobie
      230 words
    • 189 15 Digital Convergence 2004 Conference (Global Entrepolis Singapore) Regional Symposium on Embedded Hybrid Systems, Applications in Digital Television Infotainment and Mobile Enterprise, 12 October 2004, Rooms 202 203, Suntec Convention and Exhibition Centre mobile digital enterprise television II| embedded i/T Z 1 t ■pv m 1 I |Vi f j technology
      189 words

  • MALAYSIA/INDONESIA
    • 733 16  -  INDONESIA INSIGHT Economists and businessmen are upbeat about the former general's expected victory SHOEB KAGDA Jakarta Correspondent FEARING a media feeding frenzy surrounding his cabinet lineup, presi-dent-in-waiting Susilo Bambang Yudhoyono has imposed a gag order on his closest aides and minders to stop them from
      733 words
    • 714 16 Varied versions of Syariah law make up the main challenge Reuters [KUALA LUMPUR] After spending three years and US$2 million, Eric Meyer has got the go-ahead from a gaggle of lawyers, regulators and crucially four different Syariah scholars to market the first hedge
      Reuters  -  714 words
  • Page 16 Advertisements
    • 281 16 SUBSCRIBE NOW AND STAY COOL ALL YEAR ROUND. Hi > 7 •liat -v .-^Si ,»i A stylish mini-fridge is yours (while stocks last) if you subscribe to wbf- The Business Times. Plus, you'll enjoy 10% off when you sign up for one year. To subscribe, call 6388 3838 or complete
      281 words

  • GREATER CHINA
    • 565 17 Regulator's plan spurred by furore over Baosteel's huge fund-raising bid Reuters [SHANGHAI] China will give long-ig-nored small investors a say in major decisions such as share sales, yielding to mounting public pressure as Baosteel convened a pivotal shareholders' pow-wow in the
      Reuters  -  565 words
    • 504 17 Reuters [PARIS] The promise of massive car demand in China has spawned billions of dollars in new production plans, leading some experts to fear that overcapacity could help flood major export markets with bargainpriced Chinese-made vehicles. While global carmakers intend to invest about
      Reuters; REUTERS  -  504 words
    • 177 17 AP [BEIJING] China's Communist Party called on its members to improve their ability to run the nation, warning that some of its own leaders lack integrity and competence and that the party's "life and death" could hang in the balance. The urgent tone of the
      AP  -  177 words
    • 320 17 New rules will let them invest up to 5% assets in stocks AFP [BEIJING] Chinese insurance companies will be allowed to pump in up to 5 per cent of their total assets, worth 55 billion yuan (5511.2 billion), into equities, giving
      AFP  -  320 words
  • Page 17 Advertisements
    • 546 17 Notices IN THE MATTER OF THE COMPANIES ACT, CAR 50 And In the Matter of 1) D.I.Y. RENOVATIONS PTE LTD (Registration No. *****0063 C) 2) UNPL PTE LTD (Registration No. **********) 3) MODERN INVESTMENTS PTE LTD (Registration No. *****5022N) (In PTE LTD > (Registration No. *****1162K) (In Members' Voluntary Liquidation)
      546 words
    • 614 17 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50. AND IN THE MATTER OF CBM MACHINERY ENGINEERING PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) At on Extraordinary General Meeting of the members of CBM Machinery Engineering P»e Ltd, duly convened and held at the registered office, 122 Middle Road #08-03 Midlink
      614 words
    • 548 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SINGAPORE PAPER BOARD PTE LTD (In Creditors' Voluntary Liquidation) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 18 Cross Street #08-01 Marsh McLennan Centre Singapore *****3 on
      548 words
    • 460 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF THE DII GROUP SINGAPORE PTE LTD (In Member's Voluntary Liquidation) MEMBER'S VOLUNTARY WINDING-UP NOTICE IS HEREBY GIVEN that the creditors of the aMvenamed Company, which is being wound up voluntarily, are required, on or before the
      460 words
    • 617 17 <S) PCI LIMITED (Incorporated in the Republic of Singapore) Co. Reg. No. *****4482N NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Shareholders of PCI LIMITED will be held on 21 October 2004 at The Board Room, 390, Jalan Ahmad Ibrahim, Singapore *****5
      617 words
    • 397 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 56 AND IN THE MATTER OF ARTA ARYANDHI PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the abovementioned Company deemed to have been held at 79 Anson Road #10-04 Singapore *****6 on 20 September 2004 at 11.00 a.m..
      397 words

  • FOCUS: INDIA CALLING
    • 1031 18 Prices for service plans and handsets drop sharply as firms fight for a bigger market share Asian Wall Street Journal AFTER a long day at a call centre fielding calls from Americans with computer troubles. Larlin Tluanga's favorite way to unwind is to go
      Asian Wall Street Journal; Source: Gartner Research  -  1,031 words
  • Page 18 Advertisements
    • 109 18 SUBSCRIBE NOW AND MULTIPLY YOUR RETURNS M V Ik •''ite jrfHP*" -^M jH J B [EL ;t<:^J^RlSiliE^^H i fc/ H^fcd^iS^rlt^^ Ajj JSa —eßg- fc. 1 1-; M'tjH c?>-*Cv... X S BHBBBgSsjM£^a^^^"teit>^^a;iafci^-j. :^y < '«i» -f. < iS^i ir!lsyßl!lsSiMffi A stylish mini-fridge is yours (while stocks last) if you subscribe to
      109 words

  • ASIA-PACIFIC/WORLD
    • 617 19 Bloomberg [DUBAI] Arabs are putting more of their oil revenue at home unlike during the 1970s oil boom when they poured money into western markets, says billionaire Prince Alwaleed bin Talal of Saudi Arabia. The fact that Middle Eastern
      Bloomberg; BN CNUZ  -  617 words
    • 429 19 Nigerian unrest adds to worries about output from Russia and Iraq Reuters Bloomberg [LONDON] Oil prices set record highs yesterday near US$5O for US crude as Nigeria emerged as the new focus of worries about supply security on world oil markets. US light
      Reuters; Bloomberg  -  429 words
    • 146 19 AFP [MIAMI] Florida faces losses of some US$25 billion due to damage caused by four hurricanes over the past six weeks, according to Risk Management Solutions. Losses from Hurricane Jeanne alone will be US$4-$8 billion, ac- cording to the Newark, Californiabased
      AFP  -  146 words
    • 170 19 Reuters [NEW YORK] Citigroup Inc yesterday said one of its fast-rising executives. Sallie Krawcheck (right), will take over the No 2 position at the world's biggest financial services company, replacing Todd Thomson who will take her job as head of brokerage Smith Barney.
      Reuters; BLOOMBERG  -  170 words
    • WORLD WATCH
      • 90 19 Bloomberg [LONDON] Bruce Wasserstein, head of Lazard LLC, will lay out plans to take public the world's biggest privately held investment bank in a transaction that values the company at about US$3 billion, people familiar with the matter said. Lazard's working partners, who
        Bloomberg  -  90 words
      • 80 19 Reuters [NEW YORK] Printer and PC maker Hewlett-Packard Co will stop offering desktop workstations based on Intel Corp's Itanium microprocessor, The Wall Street Journal reported on its online edition. The chip was designed with help from HP and was billed as a successor to
        Reuters  -  80 words
      • 77 19 Bloomberg [TAIPEI] United Microelectronics Corp declined to comment on a report that Texas Instruments and Xilinx Inc have cut chip orders with the Taiwanese company. "We don't comment on newspaper speculation," said a UMC official, responding to a Commercial Times report. Texas
        Bloomberg  -  77 words
      • 67 19 AFP [MANILA] The Philippine government is to consider opening newspapers, radio and television networks to foreign ownership, according to the Business World newspaper. It said the government is also considering liberalising the telecoms and information and communication technology sectors and amending the Build-Operate-Transfer
        AFP  -  67 words
      • 57 19 Reuters [MANILA] Philippine food and beverage firm San Miguel Corp and property developer Metro Pacific Corp yesterday said they are considering bidding for the country's power transmission assets. The government hopes to raise US$2 billion by leasing the nationwide electricity transmission
        Reuters  -  57 words
      • 93 19 Bloomberg [BANGKOK] Thailand's central bank delayed until Sept 30 a decision on the appointment of a president for Krung Thai Bank, keeping in suspense Viroj Nualkhair's prospects of a second term as head of the country's second-largest lender. Bank of Thailand governor Pridiyathorn
        Bloomberg  -  93 words
      • 92 19 AP [BEIJING] The eastern Chinese city of Tianjin, site of soccer games for the 2008 Olympics, plans to spend US$5 billion on 24 projects to take advantage of Olympic tourism, a city official was quoted as saying yesterday. Tianjin is one of
        AP  -  92 words
    • 394 19 They allegedly failed to provide reserves for claims Bloomberg [BONN] Executives at Deutsche Bank AG, Europe's third-biggest bank, are being investigated by German prosecutors over allegations that they failed to set aside money for claims by businessman Leo Kirch. Prosecutors in Frankfurt are
      Bloomberg  -  394 words
    • 387 19  -  By NEIL BEHRMANN in London EUROPEAN pension funds are stepping up their Asian investments to boost returns, as an institutional survey by JPMorgan Fleming shows that such funds, insurance companies and other institutions are concerned about lagging equity and bond performance in US and Europe.
      387 words

  • AVIATION
    • 82 20 [LONDON] An Olympic Airlines aircraft sits at Stansted Airport, near London, on Sunday after making an emergency landing escorted by military jets. The plane, on a scheduledflight from Athens to New York, was diverted following a phone call to an Athens newspaper saying there was
      AP  -  82 words
    • 215 20 [NEW DELHI] India's left parties have agreed to a proposal for raising the foreign direct investment (FDI) limit in domestic private carriers from 40 per cent to 49 per cent, the Business Standard newspaper reported. During their lunch and dinner meetings with
      215 words
    • 397 20 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AK), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:
      397 words
    • 363 20 AP AFP [DUBAI] A wall collapsed at an airport construction site yesterday, killing more than eight workers and injuring many more, a contractor said. Workers at Dubai airport said they saw up to 40 casualties being taken away, but the toll
      AP; AFP  -  363 words
    • 467 20 Recovery not as fast as Airbus thinks, says Boeing CEO Stonecipher Reuters Bloomberg [BERLIN] Boeing chief executive Harry Stonecipher said the US aircraft maker's arch rival Airbus was exaggerating the speed of recovery in the commercial aircraft market. "The market is coming back
      Reuters; Bloomberg  -  467 words
    • 136 20 Reuters [OSLO] Up to 100 flights were disrupted at Oslo's main airport yesterday as air controllers stopped work to protest against a decision to close their offices, officials said. The unscheduled work stoppage comes after air control firm Avinor recommended shutting facilities at Royken in
      Reuters  -  136 words
    • 430 20 AFP [MADRID] Madrid's Barajas airport is positioning itself as Europe's Atlantic gate after it undergoes renovation which will double its capacity. The international airport is already the hub for about 25 per cent of all flights from Europe to Latin America
      AFP  -  430 words

  • SHIPPING
    • 386 21 Surging trade with China boosts demand; analysts expect trend to continue Bloomberg [LONDON] Ship orders in 2004 will reach a record US$6O billion for a second straight year, Nordea Bank AB said, after increased trade with China boosted demand for vessels and
      Bloomberg; REUTERS FILE PHOTO  -  386 words
    • 589 21  -  DOCKYARD By DAVID HUGHES FOR the past dozen years, ship repairers and their customers, ship owners, have converged on London's Olympia each November for the annual Shipßepair Conversion conference and exhibition. And once again the promotional material for the event is beginning
      589 words
    • 236 21 AFP [MADRID] A cruise ship with 500 passengers on board collided with an oil tanker on Sunday in foggy conditions off the southern coast of Spain but nobody was injured in the incident and there was no oil leak, maritime rescue authorities said.
      AFP  -  236 words
    • 289 21 SGX '000 Sop 27 a W- Vol CM Offshore £38 0.03 1685 ChuanHup .0.61 unch 2472 Coia> Investment .0.98 -0.01 5470 (WT Distribution 0.51 unch 2 lira Hldgt 1.10 0.06 701 Freight unks 0.10 0.01 59 Grand Banks Vaeht .0.80 unch 37 JayaHoMngs 1.00 0.02 ***** K1 Venture-
      289 words
    • 464 21 [LONDON] Up to 1,000 jobs could be lost this week when ports and shipping group P&O announces an overhaul of its loss-making ferries business, according to a report in The Guardian. P&O's chief executive Robert Woods is poised to announce
      464 words
    • 572 21  -  By DONALD URQUHART [SINGAPORE] Led by imports of furniture, the key East Coast US Port of New York and New Jersey (PNYNJ) has enjoyed a 10 per cent rise in volumes for the first half of this year over last, as Asian cargo
      FILE PHOTO  -  572 words
  • Page 21 Advertisements
    • 38 21 In over 175 countries around the world, Menlo Worldwide stands for efficiency. We offer a broad portfolio of transportation, logistics and supply chain solutions to help businesses of all kinds MENLO achieve operational excellence, www.menloworldwide.com WORLDWI D E
      38 words

  • EDITORIAL & OPINION
    • 484 22 EDITORIAL EXPECTATIONS are running high in Indonesia. Following the successful conclusion of the country's first-ever direct presidential elections, the country is riding on a wave of hope and euphoria. Although the official vote count is not due until early October, there is little doubt that former
      484 words
    • 1093 22  -  America and Iran may realise that they're better off as reluctant allies than enemies LEON HADAR Washington Correspondent IT was a Third World country in Asia with an old civilisation where radical ideologues that were opposed to any notion of democracy and free markets and that espoused
      AFP  -  1,093 words
    • 718 22  -  THE BOTTOM LINE HARISH MEHTA GENETICALLY modified (GM) seeds are back in the news, but they are certainly not in vogue with most farmers. The Supreme Court of Canada ruled against two Canadian farmers who were accused of violating Monsanto's
      718 words
    • 748 23  -  News of the city's death has been greatly exaggerated it will be able to beat the challenge of mainland China By STEVEN PEARLSTEIN THE economic obituary for this island city has been written several times. In the *****, as the sim set
      AFP  -  748 words
    • 909 23  -  WILLIAM PESEK JR SONY Corp is so set on a Hollywood ending to years of sliding share prices that it's casting two unlikely heroes to achieve it: James Bond and Rocky Balboa. Along with three other investors, Sony recently bid US$l2 a share, or about US$3
      909 words
    • 420 23  -  LETTERS TO THE EDITOR Tan Yoke Meng, Willie Chief Executive CPF Board WE refer to your recent articles and letters on Medisave contributions for the self-employed. Through Medisave, Singaporeans pay for their own medical needs as well as purchase MediShield to insure themselves
      420 words
    • 221 23  -  Denis Distant Singapore IT has become the fashion for large SGX listed companies to do share buybacks using convoluted procedures which leave small shareholders with odd lots which they have to top up if they wish to hold board lots, and this might
      221 words

  • Page 23 Advertisements
    • 101 23 HAVEYOURSAY Fax your letters to 6319-8277 or email them to btletterGsph.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 laws. We
      101 words
    • 18 23 \fering childcare services? Call our C.A.T.S. hotline at 1800-289-9988. \r?&\ 4 3 Buy It S«H It Find It
      18 words
  • Page 23 Miscellaneous
    • 177 23 CRYPTIC CROSSWORD spy from the East 24 Sign on prison islands (8) Imnil 25 Looked for shelter, showing 8 New roof protecting centre YESTERDAY S SOLUTION embarrassment (6) court from sharp-beaked bird 1 Twitcher, 6 Rumpus, 9 DOWN 14 leader's an idiot real stupid! if SJap^Te 2^3r to 15 jpper
      177 words

  • 3244 24 STRAITS TIMES INDEX STOCKS *«■<*—— m a— omm m sxt—« m a— a—— Altgrggn 50c 0.31 1.110 -0.Q2Q NOL 2.02 2.790 BILkm USZOc 0.46 0.970 -0.005 OCBC 10.55 13.700 CapitaLand 1-20 1.760 +0.020 Parkway H 25c 0.64 1.350 +0.020 Chart SemiCond 26c 0.80 1.030 People's Food HK50c 0.35
    3,244 words

  • 2685 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES khalan toSS tiiMt %4f %yr «dy yr %4j %*r Mi On Oiwp Own— Chang* Oiwg> Oiwg> WWdtidHihtiMwi 789J Oil 1.4 -Oil 0.1 OLO 0t EAfEPrefcwwy 72S4 -02 34 -05 03 -0.4 14 Europe frelrwurjf 994.1 02 2.7 Q1 CL7 0.1 J3 Padfc 8273
    2,685 words

  • Page 26 Advertisements
    • 1031 26 fa^fiftMPßT' -I NORTH AMERICA —I AUSTRALIA/NEW 7FALANP 1 U«'..l 111. 1.1.U.1. ..<BI..JLIJ.II.W ..L. 1 111. 1.1 ...II .1,111 I II l„.l ..I 111.1.u. sum SHUTTLE EXPRESS (SSX) [AUSHUUA ASIA EXPRESS (AA» VOY yjg wwinm >i wi winm jwwj zzr 7TZi rm 1=: vissa voy one syb m am re sm
      1,031 words
    • 798 26 \_y>' 1 i ijfflPPWrPMiB MBS vcsa/vor mwti mm— m ta io sa jp siumyaiuK/ii is jj mi wn a/w oi/io w/io SIUITSyWTUK/l? IS 12 02/10 04/10 10/10 12/10 [MIITSjEjWjg/n IS 12 I IVIO 14/10 21/10 24/10 24/10 WjW AIHA/BfNOwfcWOW rJWH I msa/voT twpn) mams) tok m nw m. sm wg
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  • Page 27 Advertisements
    • 770 27 For Schedules, BL Searches, and Container Tracking, visit on our Home Poge: www,moUin.com.S9 Hamburc^^SUD ■tm savia iroqni U*m Ihfci .sab swvia (Kpoct) h*w (65) CwCoh4»oo*W tfott "wio" twttwtelOlW" Br* VT W -BT ""BT W aLyhwHwr SH3 jT7iO gwrC»wHBR IVH Hfll P/11 W/II 11/11 1m 27/10 aamun m m m MJ
      770 words
    • 1157 27 vEssa iSyiiSPt^kc GMJEMMt ***** 30/* 1/10 3/10 T j~TI KHHItlDtt O*4A 7/l6 M 6 iGMDBITtADt IjQS* I S/10 1 4/10 I 8/10 1 1 I I WEWDYMAMC 071* lift 14/10 iHBITOtD UlMl I l?/loll3/lQ 11S/1Q j I ■Hffl IMDGf MSA 21/10 23/10 >VSt afag bo* Norti t W«fl port VESSa
      1,157 words
    • 880 27 w WEBQ.Y EXPRESS SAIUNG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS vtssa vot sb hum counmo hsnhm counmo till*mom obk asg w moo mop woo mgg OMW 0400 04OCT WOO HOCT 1 5OCT liiKTmiimpff Immwl ii ocr I lion itoa non noo Itottrawm Tw»osil uoo I ioop
      880 words

  • Page 28 Advertisements
    • 1037 28 VOtAf WALLENIUS WILHELMSEN website: http://www.2wqlobol.(om VESSEL VOY [RAMP UK MAO HOW lIUA SAY lAL OtF NYC WW MOI TBttS AF4I9 4201 MS 6.4 M I 02/10 24/10 03/11 10/11 11/11 15/11 13/11 17/11 07/11 TOM AI4IO 4001 MM 6.3 M 06/10 io/ll IJ/H U/n H/n TAMERLANE AE42O |***** m 6.4
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    • 583 28 -ffisa *ei sb pgm _m» mmmmmmmmm -gJM* lie® gzg sszss— rKMu ua ao/w qj/iq <y?W mn SSZfiS 02/10 m—im nftZ m/w m/io PAC lAWDA 130 M 01/10 01/10 MU S/IO 05/10 PAtMWM 13WN OSTTO 03/10 MCOAU 4)35 05/10 00/10 mum. mow 03/10 M/10~ csfMOl oow 03/10 04/10 -SU2S] 0039f sf7to
      583 words
    • 161 28 W5& m Si DP PKTMATKH FORTUNE! 31/04 29/09 01/10 KUTUK/PUJALAM UMTY 32/04 29/09 30/09 JAMM/PBAMARU MAHAMN 10/04 01/10 03/10 PAtHNANG/PAIUANG UNOPA 14/04 MPORT 29/09 KUWAN/IMMMAWE PUIAUWEH 01/04 04/10 04/10 SAMN6/MAIAHAYATI HATtUM 20/04 II rotT 29/09 KNBMHU/fAMNC ssb voy OA ere wamm FAIAR MAS 14/04 20/09 30/09 JAIARTA/06AM16 PARADISE 12/04 01/10
      161 words
    • 480 28 i BSA jl MYANMA ■B FIVE STAR UNE (Mvommt NatiMol Um) Loading for Ym|m YKSB VOT SM na PEN PGU PAGAN 332W SU) HPA-AN 326W 26/09 IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUI: 03-*****300 P*L- 03-*****101 PIN: 04-*****02 acceptmb cowvemtiowal cbo HUG SM HKG SM PGU PKI KUC HON MART 121
      480 words


  • PROPERTY
    • 1524 30  -  Do your homework well and don't act in haste when making a decision. BARRY LEA offers some pointers BARRY LEA ASIA-based, would-be buyers of overseas residential property usually fall into one of two general categories. First, those who are buying for "warm", sentimental reasons
      1,524 words
    • 506 31  -  They will be put into its proposed logistics Reit to be launched next year By KALPANA RASHIWALA MAPLETREE Investments recently bought two Jurong warehouse properties from logistics, transportation and warehouse group Tentat for more than $40 million. Sources told BT that the two
      506 words
    • 563 31  -  By DANIEL BUENAS RENOWNED Japanese architect Toyo Ito believes in "natural beauty". In fact, it is Mr Ito's unique style of using nature, climate and open spaces which has helped him bag a slew of international awards for his innovative
      CHRIS LOH  -  563 words
    • 346 32  -  By KALPANA RASHIWALA A 125-room hotel will be built near Siloso Beach on Sentosa by the developers of Robertson Quay Hotel, sources have told BT. They are expected to pump in about $35 million in the low-rise project, which is slated for completion by early 2007.
      346 words
    • 581 32  -  BT exclusive Oyster Cove to be re-marketed to Singaporeans By DANIEL BUENAS WATCH retailer Jannie Tay's Oyster Cove development in Australia has won approval from the authorities there to build another 200 homes, and Ms Tay intends to re-market the waterfront properties to
      581 words
  • Page 30 Advertisements
    • 236 30 I En-bloc Sale of Coral Island To Developer. I YOUR BLUEPRINT FOR SUCCESS. A Ready Pool of International Buyers Awaits Your Unique New Development. An invitation to tender. This unique en-bloc island sale offers the from Singapore's Central Business D,strict, it is also within easy reach successful developer, for the
      236 words

  • Page 31 Advertisements
    • 97 31 MARYLAND PARK FOR SALE BY TENDER Approximately 246,000 sq ft Plot ratio 2.8 Tel: 6224 8181 cb richard Caltex House Prime Raffles Place office Grade "A" office services:- Good security features, energy procurement scheme dedicated management team on site 1,676 60,000 sqft available Fitted units available Attractive rental scheme FACTORY
      97 words
    • 48 31 Prime Industrial Land For Sale Alexandra Road 77 I 60m frontage V%\ 2 separate plots \yv Honda >«/_.'£?' Vot>o 41.000 sq ft each C*ntr» Car Mtcoclm w x ""•ST" Vacant possession /C. Showroom Private treaty /^sojg^-v *43 years lease //WJICT "Sf// LL~~lll cbre Tel: 6224 8181 cb richard ellis
      48 words
    • 210 31 PRIME CBD SHOPPING CENTRE INVESTMENT Regent Arcade, Rundle Mall, Adelaide, South Australia ADELAIDE'S LEADING RETAIL ARCADE broad Rundle Mall frontage adjoining HARRIS SCARFE and opposite DAVID JONES 40 retail tenancies, excellent tenancy mix Superstores Rowe Jarman and Peter Shearer plus Grenfell 110 Gaming Bistro NLA 8,150 sqm (approx.) Secure Net
      210 words

  • Page 32 Advertisements
    • 217 32 Experience the distinctiveness of 6 Battery Road I With an impressive Baltic Brown granite I exterior that is matched by an equally distinctive I address, 6 Battery Road is a landmark H I 42-storey Grade A office building at the heart of I Singapore's financial district. I Beyond making a
      217 words