The Business Times, 20 October 2004

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Total Pages: 32
1 32 The Business Times
  • 13 1 THE BUSINESS TIMES SMSMKMEBS<MH onKnt it mtK/ibusiniss*tiMiisiil .cwm MnA(wa»wa»4 Wednesday October 2a 2004
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  • 135 1 ST! 1,970.23 (+19.68) ST INDEX FUTURES 1,972.00 (+15.00) siMsa ***** (+2.55) SIMSa FUTURES 236.70 (+220) MARKETS Tuesday Change KLSECOMP 851.74 >0.05 NIKKEI 225 11.064.86 +99.24 HANG SENG 13,154.55 +119.81 SET INDEX 661.00 +14.49 JAKARTA COMP 853.39 -0.99 MANILA COMP 1.778.85 -11.13 SEOUL COMP 855.77 +7.50 SHENZHEN B 232.87
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  • 42 1 TOP STORIES ...PCI 1*4 COMPANIES ...PG5-8 MARKETS PCS 10 SINGAPORE P611 ECONOMY PC* 12 M'SIA PC 1314 INDONESIA INS 14 CHINA/INDIA ...PG1S ASIA PACIFIC ...IKS 1fi WORLD P61? AVIATION 1*6 IS SHIPPING P6 19 EDITORIAL PG2Q STOCKS KIWI MOTORING IKS 19
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  • 711 1  -  But it's staying with 8-9% pace this year, and 3-5% next year By NANDE KHIN [SlNGAPOßE] Economic growth is expected to moderate markedly for the rest of the year as oil prices remain high and the global information technology (IT) industry slows, but the
    Source: Semiconductor industry Association  -  711 words
  • 581 1  -  By KALPANA RASHIWALA [SINGAPORE] Singaporebased Bintan Lagoon Resort Ltd, which counts SembCorp Industries subsidiary Safe Enterprises ahd Keppel Land as its shareholders, has been put into receivership to bring to an end long-drawn negotiations with its bondholders. Its $53 million worth of
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  • Page 1 Advertisements
    • 163 1 CRACKS M CRYSTAL BALL Greenspan slammed tor fiiaibon with tongterm J oil contracts PG2I .-v; POORER 2005 Analysts lower forecasts for global economic owtb-w; 12 [reasons why this is a good time to consider buying a home One market watcher examines the new factors driving the local property market J
      163 words
    • 9 1 m airoceansaga Shares of logistics f and freight group
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  • TOP STORIES
    • 215 2 Source: Building and Construction Authority Office bearers of management corporations (MCs) will be allowed to resign without a replacement If entire MC is vacated, all owners or subsidiary proprietors will be responsible for management of the development Commissioner of
      Source: Building and Construction Authority  -  215 words
    • 664 2  -  Move will minimise conflicts, allow planning flexibility in large projects By VINCE CHONG [SINGAPORE] For the first time ever, future property developments will be allowed to set up separate management corporations (MCs) to minimise conflicts and to allow for flexibility in the
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    • 399 2  -  By CHEN HUIFEN [SINGAPORE] Five major software companies have banded together under a new initiative to offer up to 40 per cent discounts to companies here, to help them prepare for the new copyright legislation that takes effect in January. In an
      399 words
    • 730 2 Air Ocean recovers amid signs paper may retract report AIROCEAN Group shares rebounded yesterday amid signs that Melbourne's Herald Sun newspaper could apologise and retract an article which claimed that the mainboard-listed company's chief executive was a high roller who lost As2s million (Ss3o million) at a Melbourne
      730 words
    • 494 4  -  MAS REPORT MAS review points to excess chip inventories and decline in IT spending, sees flat or modest Q4 growth By NANDE KHIN [SINGAPORE] The global IT industry is showing signs of weariness and for Singapore's open economy, any worldwide downturn in this
      Source: MAS  -  494 words
    • 450 4  -  By DANIEL BUENAS [SINGAPORE] Job creation in Singapore should continue to improve supported by growth in the manufacturing and services sectors, according to the Monetary Authority of Singapore's (MAS) latest macroeconomic review. However, some economists feel that job creation may slow down over the
      Source: EPD, MAS  -  450 words
    • 177 4 [SINGAPORE] Never mind, it seems, even if Singapore becomes a much cheaper tourist destination. The bigger factor affecting visitor arrivals is their income levels back home, rather than price levels in Singapore. A study by the Monetary Authority of Singapore's (MAS) economic policy
      177 words
    • 385 4  -  It provides estimates of how much purchasing power has changed for key items By ANNA TEO [SINGAPORE] If your monthly salary was Ssl,ooo in 1990, how much would you need to earn today to maintain your purchasing power in Singapore?
      FILE PHOTO  -  385 words
  • Page 2 Advertisements
    • 309 2 FINANCIALCENTRE Development and Prospects WT x*' r fl x H '•t ssjfS" 4th November 2004 8.30 a.m. to 4.00 p.m. Grand Hyatt Singapore *^'7...**.- v-„ -<>*.» ~f. 'J" Singapore's finance sector has seen many changes in the past two decades. Some of the findings and recommendations made by various committees
      309 words
    • 59 2 Incorporation services in all major jurisdictions Global network of offices Ready-made companies available Management and administration services China business registration Accounting and trade support services Virtual office solutions Personal and corporate bank introductions TO ARRANGE A FREE CONSULTATION CONTACT: Simonne Toh T: +65 6535 3382 F: +65 6535 3991 E:
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    • 24 2 Recruit the one you want for any position you have I Call 1880 289 8822 or email nma@sph.amsg for your recruitment solutions Ifl'AiaUml I
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  • Page 3 Advertisements
    • 219 3 fv TvW jSs WMBHPH^Bjp^^^m^ii^^^»#*f-'' v-J l;:;! agHi^^Hi^^^H r r SB j-' rl^YreraOT^^w&4#f^® I HHrai -If Wtf V A I B PM L \irW? WfT IriteL v 1\ t^Hk lU'' flililal I t i-| iirMffiMMBIIMB^^MM^MMMI Kfc Wv 1111 l 111 I %>W PlmJI Hil li vZks^ ■fita jI n^SHIB^^^B ■IfPf i
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  • Page 4 Advertisements
    • 244 4 Your employee before SRP. Your employee after SRP. With SRP, your employees in the optical sector will never be the same again. In today's competitive business environment you don't want to sell a pair of spectacles or contact lenses, you want to sell an experience! An experience that brings your
      244 words

  • COMPANY NEWS
    • 454 5  -  Casino says firm's CEO does not owe it money, and is not a regular visitor By VEN SREENIVASAN AIROCEAN Group shares rebounded yesterday amid signs that Melbourne's Herald Sun newspaper could apologise and retract an article which claimed that the mainboard-listed
      FILE PHOTO  -  454 words
    • 720 5  -  HOCK LOCK SIEW By R SIVANITHY WHEN it comes to pricing covered or structured warrants, the most important input is not the price of the underlying shares or the exercise price of the warrant but the volatility estimate embedded in the price. Unfortunately,
      720 words
    • 584 6  -  Industry observers say that's easily the biggest among the major retailers here By KALPANA RASHIWALA ROBINSON'S 'outgoing CEO Peter Husum yesterday revealed what's considered a prized piece of information: the size of the retailer's cardholder base. He said Robinson has 288,000 cardholders, and as previously
      FILE PHOTO  -  584 words
    • 553 6  -  By JOYCE KOH A CONTROVERSY-FILLED year has finally yielded something concrete from education services provider Informatics Holdings which said yesterday that it plans to set up a campus billed as one of the largest among private education schools here. Informatics
      553 words
    • 347 6  -  By ANDREA TAN CAPITAMALL Trust (CMT) yesterday turned in a 43 per cent jump in distributable income to $26.3 million for the third quarter, due mainly to the acquisition of Plaza Singapura. Gross revenue for the three months ended Sept 30
      347 words
    • 1370 6 STRAITS TIMES INDEX STOCKS Stocfc —m Wt do— Oi«wg« Stodi—— Wt do— Onng« Allgreen SOc 0.30 1.040 NOL 2.18 2.980 +0020 BIL IrrtJ US20c 0.47 0.990 OCBC 10.51 13.600 +0.200 CapitaLand 1.19 1.740 +0.020 Parkway H 25c 0.70 1.480 +0.010 Chart SemiCond 26c 0.81 1.040 +0030 People's Food HK50c 0.38
      1,370 words
    • 465 7  -  Its utilities unit also selling stake in M'sian joint venture for $29m By WONG WEI KONG THE engineering arm of SembCorp Industries (SCI) has won a property project in the Middle East worth over $200 million, the conglomerate said yesterday. SCI also said'its utilities
      REUTERS  -  465 words
    • 163 7 CREATIVE Technology's Sim Wong Hoo has resigned as director and member of the nominating committee of United Overseas Bank Ltd with effect from Oct 17. According to UOB's 2003 annual report, Mr Sim was appointed to the board on March 14, 2000, as
      FILE PHOTO  -  163 words
    • 235 7 ECQUARIA Technologies, an associate company of listed information technology (IT) service provider Frontline Technologies Corporation, said it has helped the Ministry of Trade and Industry (MTI) launch 69 licences, registration and permit applications electronically on the Online Business Licensing Service (OBLS). This, according to the
      235 words
    • 418 8  -  Unfavourable conditions, loss made by the unit in H1 cited By JOYCE KOH ANOTHER company has delayed its listing plans, citing as a reason the current unfavourable conditions. Sesdaq-listed Integra2ooo Ltd yesterday said that its subsidiary, idexCLS Pte Ltd, will not be proceeding with
      418 words
    • 241 8  -  By DANIEL BUENAS MAINBOARD-LISTED Accord Customer Care Solutions (ACCS) has been appointed by two major players in the Australian market to provide, aftermarket services (AMS) for third-gen-eration phones. The company said yesterday that Hutchison 3G Australia had appointed one of its subsidiaries, Accord Customer
      241 words
    • 352 8  -  By JEAN CHUA ASIA Environment Holdings is making its first acquisition since its initial public offering in December last year, buying a Chinabased firm that specialises in systems used in water treatment plants. The mainboard-listed group will gain full control of Yixing Quanxi through
      FILE PHOTO  -  352 words
    • COMPANY BRIEFS
      • 93 8 MAINBOARD-L1STED Cosco Corporation said yesterday that its wholly owned subsidiary Cosco (Singapore) Pte Ltd had on Sept 17 entered into a conditional agreement with Baoyuan Shipping Co to sell its MVSea Swan for about US$11.2 million. Cosco Corp. which owns and operates ships, said
        93 words
      • 67 8 ECOWISE Holdings, which collects and recycles wood waste, horticultural waste and used copper slag, yesterday announced the resignation of Ewe Pang Kooi as an independent director of the company, effective Oct 15. Following his resignation. Mr Ewe relinquished his positions as chairman of the
        67 words
      • 109 8 MAIN BOARD-LISTED Second Chance Properties yesterday announced that it had decided not to proceed with the purchase of a shop unit in Ang Mo Kio by its subsidiary Top Chance Properties, and that it had received a court summons in relation to this
        109 words
      • 77 8 RAFFLES Holdings Limited said its associated company, Huaxia Swissotel Management, has, with effect from Sept 29,2004, terminated the hotel management agreement entered into with Dalian International Commerce Trade Building (DICTB) for the operation and management of a hotel located in Dalian, China. Raffles Holdings
        77 words
      • 56 8 FUNG Choi Printing and Packaging Group yesterday announced that its IPO has been approximately 1.8 times subscribed, based on the total invitation size of 106 million new shares and the total valid applications amounting to about 188 million shares. The shares start
        56 words
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  • Page 6 Advertisements
    • 183 6 1 Providing solutions and a great deal more. July 2004 May 2004 CarttaMiL O Trust Silver Maple Investment Hong Kong Link 2004 Limited f j Corporation Limited HKS6 billion U SSI 95.5 million Commercial Mortgage-Sacked Securitisation of HKSAR Securitisation Government-Owned Tolled Tunnels and Bridges > vs.*' r t »»»<— mk
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  • Page 7 Advertisements
    • 15 7 rjplling CAT? hotline at V /your car? isoo-289-9988. Buy It. Sell It. Find It. 3
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    • 39 8 A? r j welling car? Reach out to more readers CfiVV by advertising in The Straits Times Classified. Call our C.A.T.S. hotline at C-ATtS--1800-289-9988 and our Buy It Sell It Find It friendly sales personnel will serve you. u
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  • Page 9 Advertisements
    • 65 9 j j^'idßHli^ttufr+tf** 1 E WM) tfw •J k> 'of PropNa Malaysia Sdn »«?hiTiwtJE.'h 1 «2Sl5lt onto grMtarhatghte. l JH» (BuiCcCing Our Afr JM|^^V^| Hp M French!** t leader J Training ijff «aa «»y «»>iann cut,« 'flKi:: w>f <:^^HPBF: H V w»nina«w»<iiMi>«iiiwi)wi »....fnehMngTedwolat Ttlukqmvl B IH|H||^H|^H9BbHm^K .IHHHHBi '.t r*' "T 1
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  • SINGAPORE MARKETS
    • 823 10  -  CURRENCIES Three important factors are richer speculative pickings in oil and metals, decent TICS numbers and US presidential election uncertainties LARRY WEE Senior Correspondent OVER the past three months or so, currencywatchers like ourselves have been frustrated time and again because, every time
      823 words
    • Article, Illustration
      434 10 OTHER SINGAPORE INDICES Oct 19 VALUE CLOSE BT OB/OS -505.00 +144.00 BTCADI -*****.00 +133.00 BT 10-day MA -*****.00 -50.00 All-SG Equities 513.51 +5.29 SG Equities Elect 157.82 +0 95 SG Equities Fin 1579.28 +11/M SG Equities Prop 470.83 +3.29 SIMSC1 236.45 +2.55 SiMSCI Futures 236.70 +2.20 MOST ACTIVE STOCKS VOLUME
      434 words
    • Article, Illustration
      486 10  -  Compiled by VEN SREENIVASAN Sunningdale Precision Oct 19 dose: 77 cents MM ENG RESEARCH, Oct 19 WE are reiterating our "buy" recommendation on Sunningdale Precision on strong likelihood of. an earnings re-rating. We believe that at $18.8 million, consensus earnings forecast for FYO4 is way too low and
      Source: Bloomberg  -  486 words
    • 400 10  -  STOCKS R SIVANITHY Senior Correspondent OIL, terrorism, the US presidential election. Then there are earnings, interest rates and the economy. In no particular order, these are the factors that are currently uppermost in the minds of traders. Of course, all or one
      400 words
    • TRADES TO WATCH
      • 96 10 GC&C Holdings has ceased to be a substantial shareholder in Multivision Intelligent Surveillance after it decreased its stake in the company from 6.47 per cent to 4.88 per cent through sales in the open market. For Q1 FY 2005, the digital video
        96 words
      • 119 10 JNC Wong adds to its holding in Broadway JNC Wong Investments has increased its shareholding in mainboard-listed Broadway Industrial Group from 7.72 per cent to 9.60 per cent, or about 2.8 million shares, by way of a married deal. Broadway manufactures foam-moulded interior protective packaging products and precision-machined components. Recently,
        119 words
      • 79 10 ARIANECORP substantial shareholder Liu Yi Feng has increased her stake in the company from 8.17 per cent to 9.73 per cent after buying eight million shares by way of open market purchase for about $929,000. Last month, the company said it plans to place
        79 words
      • 52 10  -  Compiled by JOYCE KOH CHARTERED Asset Management has increased its shareholding in watch retailer Sincere Watch from 10.51 per cent to 10.59 per cent through an open market purchase of 154,000 shares. Sincere's shares finished 2.5 cents higher yesterday at 78 cents
        52 words
    • 292 10  -  CHART POINT By LIM SAY BOON OCBC Investment Research YESTERDAY'S big 20-point rebound by the Straits Times Index (STI) smells of treachery, promising another attempt at the prior high of 2,022 but hinting of the greater danger of the completion of a "head-and-shoul-ders"
      Source: Bloomberg  -  292 words

  • SINGAPORE NEWS
    • 380 11  -  YESTERDAY IN PARLIAMENT Global recognition for S'pore's high supervisory standards: Tharman Reports by CHUANG PECK MING SINGAPORE yesterday said it takes its anti-money laundering efforts seriously, after a US State Department report listed the country as a hub for financial crime. Even the US
      FILE PHOTO  -  380 words
    • 533 11  -  Payment periods slashed to ease cashflow crunch Reports by VINCE CHONG THE long-awaited Building and Construction Industry Security of Payment (SOP) Bill, aimed at improving cashflow within the sector, was finally introduced in parliament yesterday by Minister of State for National Development Cedric Foo.
      533 words
    • 543 11 CALLING it a milestone, industry players said yesterday's third reading of the Building Maintenance and Strata Management (BMSB) Bill by National Development Minister Mah Bow Tan could pave the way for buildings to be better managed and with less hassle.
      543 words
    • 458 11 IT will take yet another year for Singapore's competition law to take effect, even though Parliament yesterday passed the longawaited legislation to ban anti-competition practices. Come January, only the Competition Commission which will be a new statutory board will be in place, according
      458 words
    • IN BRIEF
      • 84 11 TRUSTEES, who can only invest according to a list of authorised investments, will have more leeway in making investments with the passing of the Trustees (Amendment) bill yesterday. The bill will repeal the list of authorised investments and a trustee can now invest as
        84 words
      • 75 11 SINGAPORE has to withhold the details of the country's large financial reserves because of a constant fear of speculative attacks on its currency. "Disclosure of the exact size of, or the returns on, Singapore's financial reserves will not be in Singapore's national interest," said
        75 words
      • 81 11 THE government reiterated its pledge to open the local media industry to competition, even after the country's two main media players lost about $200 million in slugging over a shrinking advertisement pie. "Notwithstanding MediaCorp and SPH's decision to merge, the government continues to welcome
        81 words
    • 415 11  -  By JOYCE KOH IN a move to cut costs, PowerSeraya Ltd yesterday said it will switch to a cheaper fuel by end-2005 following a $200 million upgrade of its oil-fired plants. Singapore's secondlargest power generation firm will use orimulsion fuel instead
      415 words
  • Page 11 Advertisements
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  • ECONOMY WATCH
    • 540 12 JP Morgan, Morgan Stanley blame high oil prices for expected slowdown Reuters [NEW YORK] Stubbornly high oil costs are forcing analysts at major US banks to lower their forecasts for global economic growth next year. Both JP Morgan and Morgan Stanley published reports on
      Reuters; AP  -  540 words
    • 283 12 AP [WASHINGTON] The record level of debt being carried by American households and soaring home prices do not appear to represent serious threats to the US economy, Federal Reserve chairman Alan Greenspan said yesterday. Mr Greenspan said high levels of personal
      AP  -  283 words
    • 463 12 Reuters [WASHINGTON] US consumer prices rose 0.2 per cent last month as expected, a government report showed yesterday, but a sharp jump in lodging costs helped push core inflation up at its fastest pace in five months. A separate report showed a more sluggish
      Reuters  -  463 words
    • 300 12 Bloomberg [TOKYO] Japan's stock market slipped from being the best market for investment for the first time in •■eight months as the outlook for the global economy and earnings growth at home worsened, a Merrill Lynch Co monthly survey showed. Fund managers who view
      Bloomberg; AFP  -  300 words
    • 192 12 Bloomberg [TOKYO] Japanese consumers were positive about economic conditions over the next 12 months for the first time in four years, a survey by the central bank showed. The Bank of Japan's quarterly consumer index measuring opinions about economic conditions a year from now rose
      Bloomberg  -  192 words
    • 637 12 MIER raises 2004 growth forecast but sees economy slowing in 2005 Bloomberg [KUALA LUMPUR] Malaysia's economy may expand 7.2 per cent this year, led by exports and consumer spending, while growth in 2005 will probably be undermined by higher oil prices, the
      Bloomberg  -  637 words
    • 597 12 Reuters [POßT LOUIS, Mauritius] Clutching a tattered resume, 49-year-old Saraswati looks weary after another day wandering from one textile factory to another in search of a job. "I lost my job stitching garments at Summit Textiles in May last year, but it's been impossible to
      Reuters  -  597 words

  • MALAYSIA COMPANIES
    • 439 13 Deal to sell stake to group led by Nasimuddin Amin not finalised yet [KUALA LUMPUR] The battle for a strategic 15.8 per cent block in DRB-Hicom is far from over for corporate helmsman Syed Mokhtar Albukhary, despite the weekend announcement that the
      FILE PHOTO  -  439 words
    • 275 13 [KUALA LUMPUR] Malaysia is a possible destination for semiconductor maker Infineon Technologies which is scouting for a base to house its proposed RM4 billion (Ssl.B billion) wafer fabrication plant, according to the Malaysian Business Times. Infineon, through its wholly-owned subsidiary Infineon Technologies (Malaysia)
      275 words
    • 4 13
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    • 223 13 AP [KUALA LUMPUR] Malaysian carmaker Proton will decide by the end of the year whether to form a strategic partnership with German auto giant Volkswagen (VW), former prime minister Mahathir Mohamad said yesterday. Dr Mahathir —who is Proton's adviser —noted that Malaysia's
      AP  -  223 words
    • 409 13 It might subsidise 3G handsets to promote network Reuters [KUALA LUMPUR] Maxis, Malaysia's top mobile phone firm, plans to roll out third-generation (3G) mobile services in the first quarter of 2005, a year after rival Telekom Malaysia Bhd launched similar services. Maxis
      Reuters  -  409 words
  • Page 13 Advertisements
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      48 words

  • M'SIA/INDONESIA
    • NOTE BOOK
      • 140 14 Reuters [HONG KONG] China yesterday indicated it would sell US$l.7 billion worth of sovereign bonds at an aggressive price, but analysts said they still expected strong demand for Asia's biggest international debt issue this year. The issue, to be divided between dollar-bonds and euro-bonds, is
        Reuters  -  140 words
      • 97 14 Reuters [HONG KONG] Property major Cheung Kong (Holdings), controlled by tycoon Li Ka-shing, plans to invest one billion yuan (*****.4 million) in a residential project in the Chinese city of Chongqing, the Standard newspaper said. It cited Liu Guangquan, the secretary of the
        Reuters  -  97 words
      • 91 14 Bloomberg [MANILA] Globe Telecom, the second-largest Philippine mobile phone company, said it may borrow as much as US$l5O million to help finance expansion next year. Delfin Gonzalez, its chief finance officer, said the company is budgeting about US$35O million to expand its mobile phone network
        Bloomberg  -  91 words
      • 90 14 Bernama [BANGKOK] Thai Prime Minister Thaksin Shinawatra has asserted as groundless a recent comment that Thailand might be a source of bird flu virus, the Thailand News Agency (TNA) reported yesterday. "Who says that, I haven't heard about it. You, media, should not
        Bernama  -  90 words
      • 91 14 Bloomberg [JAKARTA] Indonesia's PT Timah Tbk, the world's biggest tin producer, said it may be able to go on mining for another decade because of rising demand for the metal in solders used by companies including Dell and Sony Corp. Tin prices
        Bloomberg  -  91 words
    • 300 14 AFP [KUALA LUMPUR] Malaysian Prime Minister Abdullah Ahmad Badawi said yesterday that the government would not allow offshore betting on English Premier League football matches and other international k events. "No, no licence has been given and no licence will be given,"
      AFP  -  300 words
    • 544 14  -  Investors anxious over how he will balance fiscal discipline, spending to stimulate growth By SHOEB KAGDA Djakarta EXPECTATIONS among market players in Indonesia are running high as they wait for President-elect Susilo Bambang Yudhoyono to announce his Cabinet line-up and outline his
      544 words
    • 543 14 [JAKARTA] Asia's image as being racked by political turmoil may be changing for some foreign investors, with a string of peaceful elections and leadership handovers this year spurring rises in regional markets, analysts say. At the start of the year, investors feared a series
      Source: Bloomberg  -  543 words
    • 307 14 Bloomberg AFP. [JAKARTA] Indonesia's second biggest telecoms firm Indosat is earmarking at least US$7OO million to develop its lucrative cellular telephone communications business in 2005, a report said yesterday. "The US$7OO million amount is deemed enough. We are also considering to issue bonds
      Bloomberg; AFP.  -  307 words
    • 265 14 Bloomberg [JAKARTA] PT Lippo Karawaci, Indonesia's biggest publicly traded real-estate group, said profit will probably increase this year as the purchase of five property companies and two hospital operators boosted sales. Net income may rise to 290 billion rupiah (Sss3 million) on sales
      Bloomberg  -  265 words

  • GREATER CHINA/INDIA
    • 543 15  -  CHINA INSIGHT Its boom is already spreading benefits to the region. Tourism is one beneficiary, and other sectors will follow in time JEAN CHUA Reporter THE unspoken policy of China towards South-east Asia has been described as "dollar diplomacy", and the need for
      543 words
    • 550 15 Poor infrastructure, delay in reforms threaten progress Reuters [MUMBAI] Businesses drawn by a growing appetite for Indian goods and services are rapidly increasing their investment in Asia's fourth largest economy, but an investment boom may not yet be on the cards,
      Reuters  -  550 words
    • 205 15 Reuters [SHANGHAI] China will give brokerages the green light to issue short-term debt, the central bank said yesterday, opening a new funding channel for the overcrowded, cash-strapped sector. The People's Bank of China said brokerages would be allowed to issue and trade shortterm
      Reuters  -  205 words
    • 292 15 Asean proposal would create bloc rivalling EU, Nafta AP, AFP [NEW DELHI] Prime Minister Manmohan Singh voiced his support yesterday for a proposal by India's South-east Asian neighbours to create a union of Asian economies. "This is an idea whose time is fast approaching," Dr
      AP,; AFP  -  292 words
    • 276 15 [HONG KONG] PetroChina, China's largest oil and gas producer, is considering buying overseas assets worth up to US$5 billion from its state-owned parent in a deal that could mark a shift in China's quest for energy resources, says a report in the
      AFP  -  276 words
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    • 130 15 ~~l MERITUS MANDARIN SINGAPORE T Piquant Flavours from it i 20 30 October 2004 Back by popular demand, Guest Chef Triple 3, The Buffet Restaurant 2 Sztano Pel [from Budapest, will be Buffet Lunch -12 noon to 2.30 pm whipping up indulgent flavours of $45.00* (adult) $27.00* (child) c traditional
      130 words

  • ASIA-PACIFIC
    • 652 16  -  But analysts doubt this will revive lending as economy shows signs of slowing By ANTHONY ROWLEY r in Tokyo DEBT-RIDDEN Daiei Inc, one of Japan's largest supermarket chains, has finally been forced into the arms of the Industrial Revitalisation Corporation of
      AFP  -  652 words
    • 467 16  -  He could be toppled by early next year: veteran analyst By ANTHONY ROWLEY in Tokyo A POLITICAL funding scandal that flared up in Japan's Parliament this week has the potential to topple Prime Minister Junichiro Koizumi at a time when he appears to be
      467 words
    • 399 16 AP, AFP [YANGON] Myanmar's television and radio announced yesterday that Prime Minister Khin Nyunt has retired and will be replaced by army General Soe Win. The brief announcement said General Khin Nyunt was "permitted to retire for health reasons", a euphemism used in the past
      AP,; AFP; AP FILE PHOTO  -  399 words
    • 517 16 Reuters [BANGKOK] The Thai corporate bond market is likely to see new issues of another 120 billion baht (554.92 billion) next year as companies are expanding despite rising interest rates, the sector's top underwriter said yesterday. The number of new baht bond
      Reuters  -  517 words
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    • 1672 16 Call toll-free 1800 289 8822 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF SELECTRIC INDUSTRIAL PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) (Co. Reg. No. *****7694 C) At on Extraordinary General Meeting of the Members of SELECTRIC INDUSTRIAL PTE LTD, duly convened and held at
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  • WORLD
    • 518 17 AP [NEW YORK] You can tell it's a fairly quiet IPO market when Reits are the focus of attention. Two of the seven initial public offerings this week will come from real-estate investment trusts, a far cry from the
      AP  -  518 words
    • 636 17 Net capital flow down in August to US$59b from US$63b in July NYT [NEW YORK] The flow of foreign capital contracted in August as private investors lost some of their appetite for US stocks and bonds, underscoring the United States' increasing dependence on financing
      NYT  -  636 words
    • 449 17 NYT [NEW YORK] Third-quarter earnings from International.Business Machines Corp and Texas Instruments Inc exceeding analysts' estimates eased concern over the impact of higher energy costs on profit and economic growth. "This is what we need to hear: good, strong earnings," said Alvaro
      NYT  -  449 words
    • 139 17 Bloomberg [NEW YORK] Shares of Google Inc, the world's most-used Internet search engine, touched US$l5O on Monday, extending a performance since the stock's initial public offering that has topped every company in the S&P 500 Index. Google touched US$l5O in extended trading in New York. Earlier,
      Bloomberg  -  139 words
    • 583 17 Casino firms ready to invest £5b; govt says law will protect children and gambling addicts Reuters. AFP [LONDON] Giant Las Vegas-style casinos with million-pound prizes could roll out across Britain as the* government shakes up 40-year-old gambling laws under proposals published yesterday. International
      Reuters.; AFP; REUTERS  -  583 words
    • 614 17 NYT [PARIS] On Monday, AXA dropped its offer to acquire the 48 per cent of AXA Asia Pacific Holdings that it did not already own. It said that independent directors of the subsidiary, based in Sydney, had rejected its "final offer" of A 53.4
      NYT; AFP  -  614 words

  • AVIATION
    • 483 18 Banks offer to lend it more than three times the amount sought, it says Bloomberg [HONG KONG] Hong Kong Airport Authority boosted a syndicated loan by 50 per cent to HK$6 billion (Ssl.3 billion) after banks offered to lend it more than three
      Bloomberg  -  483 words
    • Article, Illustration
      85 18 [BOMBAY] Four of the nine-member Surya Kiran Aerobatic Team of the Indian Air Force put on a colourful display of clockwork precision as they perform a stunt along Marine Drive with the city skyline in the background in Bombay, on Sunday. The Indian Air Force in conjunction with
      AFP  -  85 words
    • 488 18 Bloomberg [WASHINGTON] Lockheed Martin Corp called on the US Air Force to cancel at least four contracts worth more than US$6 billion awarded to Boeing Co after a former Pentagon official told federal prosecutors she improperly favoured Boeing. "The integrity of the procurement
      Bloomberg  -  488 words
    • 313 18 Bloomberg [ROME] Alitalia SpA, Italy's largest airline, said it expects a loss this year of about 515 million euros (Ssl billion), in line with 2003. The airline expects a loss before taxes and extraordinary items "not dissimilar" to that
      Bloomberg; AFP  -  313 words
    • 267 18 Xinhua [YANGON] One more new Myanmar government-pri-vate joint venture airline, the Air Bagan, will be launched in mid-November to undertake domestic flight as part of the country's efforts to reinforce its air transportation, a local news journal reported yesterday. Inaugurating its flight on
      Xinhua  -  267 words
    • LOG BOOK
      • 84 18 Reuters [HONG KONG] Hong Kong's airport handled a record 280,000 tonnes of cargo in September due to strong demand from markets in North America, Europe and mainland China, the Airport Authority said. That figure surpassed a previous record 0f269,800 tonnes set in March
        Reuters  -  84 words
      • 59 18 [SINGAPORE] Singapore Airlines subsidiary Silk Air, sold and leased back, on an operating lease basis, two A 319-100 aircraft last month. The aircraft were sold to an indirect subsidiary of Sweden-based Volito Aviation, which owns and leases narrow body aircraft. Silk Air currently has
        59 words
      • 81 18 AFP [LISBON] Portuguese flag carrier TAP-Air Portugal said it expects to transport over six million passengers in 2004, a record number for the airline which returned to profit last year after four years of losses. It said in a statement it had transported 12.1 percent
        AFP  -  81 words
    • 247 18 Bernama [NEW DELHI] India is looking at the possibility of increasing air traffic rights to airlines from Asean countries and Malaysia Airlines (MAS) has potential in getting them, said the secretary for ministry of external affairs, Rajiv Sikri. "I know that flights
      Bernama  -  247 words
    • 390 18 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 EVA
      390 words

  • SHIPPING
    • 739 19  -  Proposals on conference ban may become law by 2005 By DAVID HUGHES THE European Commission's recently published White Paper on liner shipping conferences has received cautious responses from both the liner shipping industry and from shippers' representatives. The White Paper proposes abolishing the sector's
      739 words
    • PORT SHOTS
      • 55 19 Reuters [PARIS] Anglo-French Channel tunnel operator Eurotunnel sales fell in the third quarter as it suffered from strong competition and price cuts. Sales in the three months to the end of September were 203.9 million euros (***** million), down from 210.1 million euros a
        Reuters  -  55 words
      • 84 19 Bloomberg [HONG KONG] The parent of China Merchants Holdings (International) Co, the ports unit of China's communications ministry, plans to invest HK$lO billion (Ss2 billion) in the next three to five years in ports and distribution businesses in the southern Chinese city of Shenzhen.
        Bloomberg  -  84 words
    • 233 19  -  By DONALD URQUHART [SINGAPORE] The ongoing legal row over Bangladesh's protectionist port law may finally be drawing nearer to a close after a government-appointed monitoring committee has said it will recommend the legislation be repealed. The long running bone of contention lies
      233 words
    • Article, Illustration
      41 19 [IZAR, Spain] A worker at the state-owned Spanish shipbuitding group Izar manning a burning car barricade at the Naval de Sestao shipyard as they protest against a proposed rescue plan for the foundering comapany in Sestao. on Monday. AFP
      AFP  -  41 words
    • 717 19 Bloomberg [NEW DELHI] India's efforts to attract more than US$2O billion of steel industry investments to the eastern state of Orissa may founder on delays in building the ports, roads and railways needed to transport coal and iron ore, steelmakers said. The
      Bloomberg  -  717 words
    • 290 19 S6X tM Oct H SS W Vol CH Offshore .0.41 unch 2338 Choan Hup OA 0.02 6329 Cosco Investment 1.04 0.02 8S31 CWT Distribution 0.55 unch 133 Ezra Hldgs 133 -0.02 237 Freight links .0.11 unch 293 Grand Banks Yact*. 044 0.02 47 JayaHoMings 1.03 0.01 1813 K1
      290 words
    • 782 19  -  STRAIT TALK By DAVID HUGHES AS expected, the European Commission last week unveiled its White Paper on Liner Shipping. There were no real surprises. The liner shipping industry may have hoped for a sympathetic reception to the recent European Liner Affairs Association's (ELAA) proposal for
      782 words

  • EDITORIAL & OPINION
    • 534 20 EDITORIAL FOREIGN executives are continuing to work in Singapore even though they could be earning more elsewhere in the region, according to a just-released survey of AsiaPacific executives. The findings will no doubt bring some cheer to company heads and policymakers worried about holding on to
      534 words
    • 132 20 'We urge him to pick people who have a clear allegiance to the republic. We warned him some choices will be influenced by the IMF.' Tifatul Sembiring, leader of the Prosperous Justice Party (PKS), a conservative Muslim party,on Indonesian president-elect Susilo Bambang Yudhoyono's shortlist for cabinet posts
      132 words
    • 655 20  -  THE BOTTOM LINE FRANK CHING AS international oil prices continue to surge, China is stepping up efforts to ensure its sources of energy supply, with its efforts ranging as far afield as Kazakhstan and Brazil to South-east Asia in its own
      655 words
    • 1087 20  -  The challenger has upturned Republican propaganda and gained ground in the presidential debates LEON HADAR Washington Correspondent IN the aftermath of the Republican convention in New York and the double-digit "bounce" that had seemed to be advancing President George W Bush's goal of winning re-election in November, many
      AP  -  1,087 words
    • 990 21  -  Alan Greenspan has a fondness for information based on long-dated oil futures, which are notoriously unreliable predictors CAROLINE BAUM Bloomberg FEDERAL Reserve Chairman Alan Greenspan sent his staff of economists on an oil-and-gas exploration mission in preparation for a speech last week to the National
      Bloomberg; AFP  -  990 words
    • 802 21  -  MATTHEW LYNN Bloomberg SHOULD Europe's companies be working with Libyan leader Muammar Gaddafi? As the oilrich country becomes the hot place to do business, it's becoming clear that tearing down walls is sometimes better than putting them up when dealing with dictators. Gradually, sanctions
      Bloomberg; AFP  -  802 words

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  • Page 21 Miscellaneous
    • 332 21 CRYPTIC CROSSWORD a roncc Not making much effort during AUfUbb party before Easter (8) 1 Gem that's not half valuable 6 Name of a number of popes (12) coming from town (5) 9 Moved back handle during the 7 Cattle cannot expect to survive rush (9) a visit here (8)
      332 words

  • 2250 22 SGX XTRANET JM* W laM vd Day f>QH GrfMv Mv GrYM Nat MCm> WNh U» C«4» Cowpny W- r88B MWi l—r Mhf Cw HE tJ 6065 Diamondi US2060*d 2120 6095 tSDJUSTcch US3740 S097 ISMSOSpore USSSScd 6101 I5S4P500 US8270 ********** 6170 SPOHS US***** 2038 1680 6235 ST1ETF100 JOIt +18
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    • 58 22 jßmSfc iUDEMARS PIGUET Wf WjfcJ Le maitre de I'horlogerie depuis 1875 /M Jv#/ J I f Regional Agent, Showroom Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. •yi ir i |/°v| in *rr \j 501 Orchard Road #03-10/11 Wheelock Place Singapore *****0. Tel: 6238 6678 Fax: 6238 6676. 1 IIC. IVAJIVVJLAJJ
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  • 2752 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES toMan US) IttfSS dy r <iy r <* %>» Own Q»mc« Pi«nge Ov»Q9« Ounpt Chang* Qi«ng« World index HU 00 tl tl tO U t EAft Preliminary 729.8 41 4.1 <U 21 -02 34 Europe Prehrwva.'v ***** 01 34 41 10 00 13
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  • Page 24 Advertisements
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    • 891 24 Imftfwfift Kotoiwvici "1 gflflgr [IUMWm HBQWTBB KG KM U» SW g STtAITSVENTURE/13 1$ 14/10 U/io 21/10 24/10 M/ 10 STRAITS VENTURE /14 15 3.2 21/10 31/10 04/11 07/11 Of/11 STRAITS VENTURE/15 IS 3.2 I 12/11 14/11 11/11 21/11 23/11 IWtTAMA/MNQAHOKOIVI 1 VtSSE/VOY I miPWD HBOHTtM) [TOR g KHH HUB. SW
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    • 880 25 W) WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS VBSa VQY SI MUW COM—O K-StKV* CTUMMO JffIIUBMIA mail _11££L _ZLi£L _afl£L—ajfl_ M WDmUWHI OM7W KOO 27 OCT 30 00 WNOV ISMOV MIV 6AHWI MZI JIJiBL-iaJfflL JiiK—BUjg lAYItH)6t OC3W WHOY 10HOY 13MOV l*W !2Jfi¥— AUSTIAUAMHOK OOIIW
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    • 481 26 I BSA I MYANMA VR FIVE STAR UNE (MyoMor NatiMal Uat) (nil for Yh|m VESSEL VOT m KM WM PAGAN 336W 31/10 HPA-AN 326W SU) IN MALAYSIA: ROIISTEAD SHIPPING AGENCIES MIL- 03-*****300 PEL 03-*****101 PEN: 04-*****02 uvammm ACCEPTIiB COiVEiTIOWAL C6O NRG SM WG SW PGU PU KUC JACARANDA ACE 100
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    • 904 27 rvgr (T: p. isaMasfflt ksmf I crtilerasia J~ntes uimMufn »»».».>«.I r, 05/10 01/10 WW" 17-2* numZ MM 24/10 30/11 05/11 04/11 MOIEIBtiTY SOl2 07/10 01/10 W/10 10/10 11/10 15/10 IVIO 11/j0 m 31/)0 M/ 11 N/11 01/11 11/11 11/11 WMHM3O7 5073 11/10 21/10 23/10 24/10 25/10 24/10 30/10 31/10 nni
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  • MOTORING
    • 592 29  -  Spending more than $1.5 million a year over the next few years, it aims to sell over 2,000 Chevrolets next year, reports SAMUEL EE SAMUEL EE WORLD No 1 carmaker General Motors will be investing more than $1.5 million a year for the next
      ARTHUR LEE  -  592 words
    • 656 29  -  It aims to move from No 4 spot in Asia to No 2 soon By SAMUEL EE THE Michelin Man is eyeing Asia. The world's biggest tyre maker sells nearly 90 per cent of its products to Europe and North America. Only 13
      PETER NG  -  656 words
    • 710 29 NYT [HONG KONG] The Chery Automobile Co, a fastgrowing Chinese automaker, said on Monday that it planned to assemble cars in Malaysia, a big overseas step for the expanding Chinese auto industry. But the move is likely to generate fresh controversy about Chinese
      NYT  -  710 words
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  • EXECUTIVE MONEY
    • 1306 30  -  This is about as good a time as any in about a decade to buy that home, says LIM SAY BOON LIM SAY BOON SENTIMENT is swinging back towards Singapore residential property finally. And the ongoing recovery will see the return of the home as
      Source: OCRB Investment Research  -  1,306 words
    • 304 31  -  By Chua Boon Lee A weekly highight of the top find sectors ewer a 12-month period Data from Standard FWs Find Services. OfMsid uses actual prioe& Cwrahg uses The whet* your units may go dwm as wel as performance is nc*ne«ssii% a guide lo the Uuft
      304 words
    • 984 31  -  YOU AND THE TAXMAN Hidden tax costs may erode a fair bit of the financial benefits originally envisaged By CHONG LEE SIANG, IVY NG AS the economy improves, companies are apt to expand their business by going into new activities. A corollary of this is
      984 words
    • 34 31 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ 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
      34 words
    • 1113 32  -  Managing director Khing Go tells GENEVIEVE CUA how he plans to take Kim Eng Holdings' wealth management arm to the next level GENEVIEVE CUA KE Swan Co, the wealth management arm of the Kim Eng group, calls itself a "boutique" financial advisory (FA) firm, but
      CHRIS LOH  -  1,113 words
    • 704 32  -  By GENEVIEVE CUA DIVERSIFICATION may sound like a trite, boring exercise, but it is one of the key ways to stay wealthy, says Alexander Zaharoff, a managing director of JP Morgan Private Bank. Mr Zaharoff runs an "advice lab" for the bank, with a team, including
      704 words
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    • 46 30 TWO SINGAPOREAN ICONS Jj^R,, Both are an integral part of the are recognised by Singaporeans. Both are viewed as symbols Singapore the world only one has a bold new look |HSw and 3 fresh weekly magazines. ■r* nrTjr rrn A ITC TIKiCt UR WORLD OUR NEWSPAPER
      46 words

  • Page 31 Advertisements
    • 103 31 CONSERVATION SHOPHOUSGS 999-year leasehold Telok Ayer St near Boon Tat St 4-storey shophouses Commercial Zoning /Or Near Raffles Place MRT Lift serving every floor Recently repainted 'deal for owner occupation /r Concrete Upper Flooring Options Address Land Area GFA A 101 109 Telok Ayer St (5 units) 8,400 28,900 B
      103 words

  • Page 32 Advertisements
    • 205 32 m 1 If*/ W H Open Land Application to Build, Own and Operate Foreign Workers' Dormitory. Do you have what it takes to build, own and operate a modern dormitory for foreign workers in the marine and manufacturing industries? JTC Corporation is looking for interested parties to do exactly that
      205 words