The Business Times, 27 October 2004

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Total Pages: 31
1 32 The Business Times
  • 12 1 THE BUSINESS TIMES MITA(P) 023/03/2004 SINGAPORE 85 cent Wednesday October 27,2004 http^/business-times^slal.com.sg
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  • 625 1  -  But most economists say S'pore should remain largely unaffected By DANIEL BUENAS [SINGAPORE] The weakening US dollar could spell trouble for companies that deal largely with the American market but it may also help ease the effects of the latest oil price shock
    625 words
  • 801 1  -  LARRY WEE Senior Correspondent THE US dollar is teetering on the edge of what looks like a steep cliff and there's a growing worry that it may not take much to tip it over the edge. Already, storm clouds are gathering. The Swiss franc
    Source: Reuters  -  801 words
  • 135 1 Stl 1,***** (+3.97) ST INDEX FUTURES 1.960.00 (-11.00) siMsa 234.88 (+0.64) SIMSQ FUTURES 234.50 (+0.70) MARKETS Tuesday Change KLSECOMP 851.55 -fQ.60 NIKKEI 225 10.672.46 +13.31 HANG SENG 12.852.35 +34.25 SET INDEX 648.38 -10.67 JAKARTA COMP 841.35 -5.28 MANILA COMP 1,768.78 +33.09 SEOUL COMP 813.70 +5.56 SHENZHEN B 231.73
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  • 47 1 TOP STORIES ...PG 2,3 COMPANIES... PG 4-7 MARKETS PG 8 SINGAPORE PG 9 ECONOMY PG 10 M'SIA PG 11-12 INDONESIA PG 12 CHINA/INDIA... PG 13 ASIA PACIFIC ...PG 14 WORLD PGIS AVIATION PG 18 SHIPPING PG 19 EDITORIAL ..PG 20-21 STOCKS PG 22-23 MOTORING PG 29
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  • TOP STORIES
    • 556 2  -  Also, declining chip demand points to cyclical downturn and slow Q4 growth By ANNA TEO [SINGAPORE] The volatility of the biomedicals industry reared its head again last month, adding to the impact of slowing global electronics demand. And with industry surveys pointing to declining
      556 words
    • 736 2 SPC shares hit new peak on report of oil find SHARES of Singapore Petroleum Company shot to an intra-day record of $4.04 yesterday almost triple their price earlier this year as the market reacted enthusiastically to Monday's news of its Vietnam oil find. But "it's still early days,"
      736 words
    • 484 3  -  BT exclusive It plans to ramp up production of highest-performing hard-disk drives By RAJU CHELLAM [SINGAPORE] Hitachi Global Storage Technologies (HGST) is likely to hire about 400 people in Singapore, where it makes highend hard-disk drives for the likes of Hewlett-Packard,
      484 words
    • 435 3  - What a weaker US$ means for Sing By LARRY WEE [SINGAPORE] The Singapore dollar's fortunes are linked inextricably to those of the US dollar by virtue of the fact that the American currency is believed to have the biggest single weighting in the tradeweighted value of the local unit. As
      AFP  -  435 words
    • 300 3 LATEST US DATA Bloomberg [NEW YORK] US consumer confidence fell for a third straight month in October, a private survey showed, suggesting rising voter discontent with the economy a week before President George W Bush seeks reelection. The Conference Board's consumer confidence
      Bloomberg  -  300 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
    • 108 3 I EcJ <l i- i V 1 Mpt!",. >4^^B* t -j If II bp- i* -Mb. ,f a^^gßft 1 J&Bfc B HH I ■Hrfr -I At fMHHB MrTffif' ill H ■HSBII lyg. ■I Ik yig *t '••■tfitt'i > *i 4H >^iirriT-^^*^l New I'Espace Affaires Business Class. From November Ist 2004,
      108 words

  • COMPANY NEWS
    • 697 4  -  HOCK LOCK SIEW By R SIVANITHY THE relentless upward march of oil prices over the past three months has been well documented and is now beginning to make stock markets a tad uncomfortable. Certainly, as far as Wall Street is concerned,
      697 words
    • 427 4  -  By CHUANG PECK MING OIL prices are hitting new highs but the shocks have not awaken inflation from its slumber to rise in tandem, as it once would have. "Inflation remains remarkably weak," Stephen King, HSBC Bank's global head of
      427 words
    • 533 4  -  But caution urged as recoverable quantity is still being determined By RONNIE LIM SHARES of Singapore Petroleum Company shot to an intra-day record of $4.04 yesterday almost triple their price earlier this year as the market reacted enthusiastically to Monday's
      FILE PHOTO  -  533 words
    • 271 4 CHINA Aviation Oil (Singapore) Corp (CAO), whose shares plummeted last week after its parent sold a 15 per cent stake in the company, could see a spike up in earnings, thanks to its stake in Singapore Petroleum Company (SPC). DBS Vickers
      271 words
    • 207 4 Kuehne Nagel disposes of stake in SembLog Both companies have been selling shares in each other to unwind alliance Bloomberg [HONG KONG] Kuehne Nagel International AG, the world's biggest sea-freight shipper, raised $96.1 million selling its remaining stake in Singapore-based SembCorp Logistics Ltd, the sale's arranger JPMorgan Chase Co said.
      Bloomberg  -  207 words
    • 318 5  -  IBM will manage airline's IT infrastructure for seven years By VEN SREENIVASAN SINGAPORE Airlines (SIA) has confirmed that it is outsourcing its IT infrastructure functions to IBM in a seven-year contract valued at around $300 million. Under the deal signed yesterday, IBM will
      AFP  -  318 words
    • 747 5 Bloomberg [SINGAPORE] Singapore Airlines Ltd, Asia's most profitable carrier, may report an 18 per cent drop in second quarter profit as fuel prices rose and competition increased. Net income in the three months ended Sept 30 probably fell
      Bloomberg  -  747 words
    • 771 6  -  Its Q3 profit is up 14.8% thanks to oil and gas, property and telecom arms By WONG WEI KONG IN a development that could lead to a shift in its divestment strategy, Keppel Corp yesterday indicated that it is reviewing its oil and
      FILE PHOTO  -  771 words
    • 364 6  -  By ANDREA TAN SERVICED residence provider Ascott's third-quarter net earnings quadrupled year-on-year to $28.9 million, boosted by a net oneoff gain of $24 million. For the three months to Sept 30, the group booked a $30.9 million gain from the sale of Scotts Shopping
      364 words
    • COMPANY BRIEFS
      • 42 6 SIA Engineering Co has sold its 5 per cent equity stake in Taikoo (Xiamen) Aircraft Engineering Co to Hong Kong Aircraft Engineering Co for US$7.5 million. The sale resulted in a gain of US$5.5 million.
        42 words
      • 41 6 LABROY Marine said its Singapore subsidiary Labroy Shipbuilding and Engineering Pte Ltd yesterday signed four shipbuilding contracts worth about US$44 million to build four 63m anchor handling tug supply vessels for delivery in 2006.
        41 words
      • 82 6 SM Summit Holdings said its wholly-owned subsidiary Summit Technology Australia Pty has agreed with EMI Music and Warner Music Australia (the vendors) to buy their jointly owned CD manufacturing business in Sydney. The vendors will transfer the manufacturing facility Digital Audio Technologies
        82 words
      • 108 6 IN yesterday's Trades to Watch column, we wrongly said Raymond Ng Ah Hua had until the end of the week to complete his purchase of a 19.568 per cent stake in Leong Hin Holdings under an option agreement. Mr Ng has six months to exercise his 1 option to
        108 words
    • 482 6  -  Property and hotel group posts 22% Q3 rise in net earnings to $25.6m By KALPANA RASHIWALA UNITED Overseas Land (UOL) yesterday said it has been in further discussion with a number of investment banks on how and when to
      482 words
    • 355 6  -  By JOYCE KOH MAINBOARD-LISTED FibreChem Technologies' strong achievements have caught the eye of an overseas asset management firm who has decided to take a strategic stake in it just six months after it launched its initial public offering in April. FibreChem yesterday said it has
      355 words
    • 583 7  -  They are seeking to recover their share of what was left of investment By KENNETH LIM THREE retail investors, who together with 11 others had allegedly parted with $250,000 under a joint-investment scheme, have turned to the Securities Investors Association (Sias)
      583 words
    • 253 7  -  By KENNETH LIM MODIFIED starch producer China Sun Bio-chem Technology is raising about $35.5 million in an initial public offering (IPO) to boost its production capacity and add a new ethanol production plant. China Sun is offering 160.1 million shares at 38 cents
      253 words
    • 507 7  -  Int'l Exchange Bank offer is first and only one this year By AL LABITA in Manila A UNIT of Singapore-listed Kim Eng Holdings is betting on the initial public offer (IPO) of a medium-sized commercial bank to help perk up the sluggish Philippine
      507 words
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  • Page 5 Advertisements
    • 94 5 Asia Pacific is upgrading fast. And with it comes a rising demand for the latest products. Whether you export fully assembled computers or import hard disks, our express distribution and logistics services can connect you to where the action is. With more people in more places we can do it
      94 words

  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 114 7 The Land Bank of Taiwan, Singapore Branch (the "Buyer") intends to invite tenders lor the purchase of one 2.4 litre gasoline sedan (with GPS system) for its business use. Interested car sales dealers are invited to apply for the tender of the above purchase. Tender application forms are obtainable from:
      114 words
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      490 words

  • SINGAPORE MARKETS
    • 660 8  -  STOCKS The top gainers were SPC and water-treatment company Hyflux Ltd R SIVANITHY Senior Correspondent OIL and water aren't supposed to mix but in yesterday's trading session in the local market, both substances featured prominently the top gainers were Singapore Petroleum Co (SPC)
      FILE PHOTO  -  660 words
    • Article, Illustration
      493 8  -  Compiled by KENNETH LIM Stats ChipPAC Oct 26 dose: $IJt CMgroup Smith Barney, Oct 26 UPGRADE to "Hold" from "Sell", raising target to US$7.4O/ADS (551.25/ local) from USSS.SO/ADS (550.95/ local) driven by our more positive view of the global semiconductor sector. We expect the stock to range-trade between
      Source: Bloomberg  -  493 words
    • 443 8 CURRENCIES Reuters. Bloomberg [MUMBAI] THE Indian rupee sidestepped an increase in the overnight repo rate to end off four-month highs yesterday, the first day in seven, as state-owned oil refiners and other oil companies stepped up dollar purchases to cover the increasing cost of crude
      Reuters.; Bloomberg  -  443 words
    • TRADES TO WATCH
      • 75 8 UNITED Food Holdings executive director Wang Wenguang has just 112 shares left in the China-based pork supplier after selling 92,000 shares, or a 0.01 per cent stake, on the open market on Monday at about 37 cents apiece. Mr Wang has been actively divesting his
        75 words
      • 60 8 VIBROPOWER Corp executive director Freddie Fong Chee Eng sold 3 million shares on the open market on Monday, paring his shareholding to 14.39 per cent from 17.48 per cent. The shares were sold at about 38.1 cents on average. Vibropower is a supplier of power generators.
        60 words
      • 140 8 A FAMILY trust bought 1.6 million shares of Cheung Woh Technologies, or a 0.61 per cent stake, on Friday last week, raising the deemed shareholding of three Cheung Woh directors to 4.76 per cent from 4.15 per cent. The Cheung Woh Trust No 1, which
        140 words
      • 93 8  - Urn Tan Securities raises Darco stake Compiled by KENNETH LIM LIM 8t Tan Securities has bought some 1.8 million shares of Darco Water Technologies on Friday last week through open market purchases. Pricing details were not disclosed. Lim 8i Tan now has a 13 per cent stake in Darco, a
        93 words
    • 332 8  -  CHART POINT By LIM SAY BOON OCBC Investment Research THERE have been and will continue to be flght-backs by the bulls along the way, and there will be considerable "noise" from hopeful, countervailing indicators. But the bottom-line is that the STI
      332 words
    • Article, Illustration
      416 8 OTHER SINGAPORE INDICES Oct 26 VALUE CLOSE BT OB/OS -350.00 +235.00 BTCADI -*****.00 +24.00 BT 10-day MA -*****.00 -35.00 All-SG Equities 510.72 +0.96 SG Equities Elect 154.20 -1 29 SG Equities Fin 1567.96 +3.43 SG Equities Prop 473.78 +3.63 SIMSCI 234.88 JjW SiMSCI Futures 234.50 +0.70 Clob MOST ACTIVE STOCKS
      416 words

  • SINGAPORE NEWS
    • 555 9  -  S'poreans need to apply knowledge creatively: says HDB Corp chairman By DANIEL BUENAS SINGAPORE must strive towards a more holistic education system and teach Singaporeans how to apply knowledge creatively in order to remain globally competitive, HDB Corporation's chairman Ngiam Tong Dow said yesterday
      555 words
    • 429 9  -  By VINCE CHONG SINGAPORE'S largest industrial landlord saw quarterly net allocation of its ready-built properties soar to a new four-year high in Q3 in line with rising macroeconomic indicators. However, in a report yesterday, JTC Corporation also noted that customer sentiment on
      Source: ITC  -  429 words
    • 175 9 NEW biometric passports are expected to be available for Singaporeans by the end of next year in time to meet new US immigration rules that will come into force in October 2005. The government will call tenders for the new biometric passport soon,
      175 words
    • 464 9  -  By RAJU CHELLAM THE world's largest contract chip manufacturer, Taiwan Semiconductor Manufacturing Company (TSMC), has reported the slowest pace of profit growth since the second quarter of 2003 due to rising inventories and falling demand for semicon chips. TSMC holds a
      464 words
    • 547 9  -  Market estimates $200-220 psf bid for bungalow plot By KALPANA RASHIWALA THE latest tender on Sentosa Cove closed yesterday with Ho Bee understood to have emerged as the sole bidder for the en bloc sale of an island plot that can be subdivided
      547 words
  • Page 9 Advertisements
    • 281 9 Introducing The New lit IB 1 IS Our most advanced Base* DVD-based Lifestyle® home entertainment system featuring the uMusjc™ intelligent playback system. The contents of your musk collection (approximately 350 CDs) can be stored in the elegant music centre. As you listen, the uMusic™ system "learns" what songs you like
      281 words

  • ECONOMY WATCH
    • 777 10  -  Agency warns that oil prices will continue to soar without new global energy policy By ANTHONY ROWLEY in Tokyo HIGH oil prices that are currently threatening the global economy "do not reflect market fundamentals" but are a result of "bottlenecks" caused by problems in
      REUTERS  -  777 words
    • 1011 10 NYT [YORK, Pennsylvania] It has become much easier to find a job here in the past year, but few people are feeling flush. George Firestone, who locates underground cables for telephone repair crews, recently learned that he will not be getting the US$l.5O- wage increase
      NYT  -  1,011 words
  • Page 10 Advertisements
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  • MALAYSIA COMPANIES
    • 387 11 Etika Strategi to start talks to buy 9.5% stake from chairman and three other shareholders Bloomberg [KUALA LUMPUR] DRB-Hi-com Bhd, a Malaysian company that sells cars, real estate and insurance, said tycoon Syed Mokhtar AlBukhary is its "preferred bidder" for buying part of the
      Bloomberg  -  387 words
    • 310 11 Bloomberg [KUALA LUMPUR] Public Bank Bhd said third-quar-ter profit rose by almost a fifth after it expanded loans to consumers and small businesses. Net income in the three months ended Sept 30 rose to RM32I million (*****.5 million), or 9.95 sen
      Bloomberg  -  310 words
    • 2312 11 VOl FS8M 1.05 unch 0 Oct» H *i- C»>q FTEC Resources .0.50 -0.01 414 Furqan Bus. Org .0.34 0.01 556 ASM Realty 125 -0.05 9 Gadang 1.46 unch 1387 A 1 1 -0-50 -0.01 41 Gamuda .4.98 -0.02 226 ACP Industries 1.38 unch 0 General Corp
      2,312 words
    • 417 11 Immediate focus is on overseas expansion IKUALA LUMPUR] PECD Rhd, which made its stock market debut on Monday, is bidding for almost RMI billion (Ss43B million) worth of projects locally and abroad, says a report in The Star, quoting group managing director Ramli Ahmad. He
      417 words
  • Page 11 Advertisements
    • 609 11 |E§3Bl Corporation Keppel Corporation Limited Co Reg No: *****0351N (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE THIRD QUARTER ENDED 30 SEPTEMBER 2004 The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the third quarter ended 30 September 2004: THIRD QUARTER
      609 words

  • MALAYSIA/INDONESIA
    • 620 12 Better economic strategies, political reform give them an edge over China Bernama [KUALA LUMPUR] British and European investors consider Malaysia, Thailand, Indonesia and the Philippines as the preferred emerging markets in Asia rather than China, given Beijing's uncertain economic growth, international investment advisers Morgan Stanley
      Bernama; AFP  -  620 words
    • 274 12 Reuters [KUALA LUMPUR] Malaysia and Pakistan agreed yesterday to take the first step towards a free trade pact and look at cutting import duties on some of each other's exports. Foreign ministers from the two Muslim nations said after a meeting here that
      Reuters  -  274 words
    • 343 12 Bloomberg, Reuters [JAKARTA] PT Bank Niaga, an Indonesian lender partly owned by Malaysia's Commerce Asset-Holding Bhd, said profit in the first nine months of the year rose 32 per cent after interest income increased. Net income rose to 435 billion rupiah (5579.6 million), or
      Bloomberg,; Reuters  -  343 words
    • 419 12 Bloomberg (KUALA LUMPUR] Malaysia's Federal Development Authority, or Felda, is considering using Sri Lanka as a base to export palm oil to India, Asia's fourth-big-gest economy, Sri Lankan Finance Minister Sarath Amunugama said. "Felda is considering a palm-oil refinery here with a
      Bloomberg  -  419 words
    • 289 12 AP [JAKARTA] Indonesia's new president, Susilo Bambang Yudhoyono, said yesterday that rampant corruption and poor law-enforcement were scaring off much needed foreign investors. Mr Yudhoyono told prosecutors at the Attorney General's Office itself a notoriously graft-ridden institution he would be "watching them
      AP; REUTERS  -  289 words
  • Page 12 Advertisements
    • 715 12 To adrerttoc call toll-fret ISOO 289 8822 Email: noticeB»sph.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF JAMES, DAM lAN GRANT AD PTE LTD (In Members' Voluntary Winding-Up) Company Registration No. *****5615 D RESOLUTIONS PASSED ON 25TH DAY OF OCTOBER 2004 At an Extraordinary
      715 words
    • 747 12 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50. AND IN THE MATTER OF BROADWAY MARITIME PTE LTD (IN MEMBERS' VOLUNTARY UQUIDATION) At an Extraordinary General Meeting of the members of Broadway Maritime Pte Ltd, duly convened and held at the registered office, Blk 16 Dempsey Road #01-02 Singapore *****5
      747 words
    • 298 12 In the Matter of The Companies Act, Cap. 50 And In the Matter of MY HITECH PTE. LTD. (Company No. *****5581 M) (In Members' Voluntary liquidation) At the Extraordinary General Meeting of the abovenamed company duly convened and held at No. 2 Jalon SS24/12 Toman Megah, ***** totaling Jayo, Selongor,
      298 words

  • GREATER CHINA/INDIA
    • 482 13 Accord to be signed next month on removing tariffs by 2010 AP. AFP [SHANGHAI] China has reached agreement with the Association of Southeast Asian Nations (Asean), on completely removing tariffs on merchandise goods by 2010 as part of a proposed free
      AP.; AFP  -  482 words
    • 335 13 Govt says it has 99 hectares of land available for devt Reuters [HONG KONG] The Hong Kong government, in a bid to soothe market fears of a property bubble and possible housing shortage, said it has 99 hectares of land available for
      Reuters; REUTERS  -  335 words
    • 371 13 Reuters [BEIJING] China's booming economy is driving demand for coal, oil, power and transport that far outstrips national supplies, potentially leaving millions nationwide in the cold, the China Daily said yesterday. National authorities had warned that shortages of resources could trigger power cuts
      Reuters  -  371 words
    • 491 13 Reuters [MUMBAI] Senior Indian bankers ruled out an immediate rise in their interest rates after the central bank raised its benchmark shortterm rate yesterday in a policy review. The rate rise was a short-term move, aimed at draining liquidity from the money
      Reuters; REUTERS  -  491 words
    • 221 13 Bloomberg [NEW DELHI] India's central bank asked commercial lenders to increase the capital they set aside to cover the risk on mortgages, credit-card loans and other forms of consumer finance. The Reserve Bank of India, in its credit policy, raised the
      Bloomberg  -  221 words
    • 200 13 Shanghai govt auctions off attempted bribes AFP [BEIJING] A Rolex watch and a collection of Mao Zedong poems were among items that went under the hammer when the Shanghai government sold off presents given to officials in attempts to bribe them, state media
      AFP  -  200 words
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    • 38 13 MERITUS MANDARIN SINGAPORE MULTI AWARD-WINNING MANDARIN CHICKEN RICE Come, savour Singapore's favourite dish and other delights anytime. Reservations: *****291 Coffeehouse Ist flvor ME RHUS MANDARIN 333 Orchard Road, Singapore *****7. Tel: +65 6737 4411. Fax: +65 6732 2361.
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  • ASIA-PACIFIC/WORLD
    • 485 14 It also tightens rules on hedge funds to protect small investors AP [WASHINGTON] Federal regulators are proposing to loosen restrictions on executives' utterances in the weeks before their company goes public in a stock sale, a move that could bring the first
      AP  -  485 words
    • 349 14 AFP [PATTATfI] At least 84 Thai Muslims died mainly from suffocation in the back of security force trucks after police and troops broke up a violent demonstration in the kingdom's troubled south, Thai officials said yesterday. Most of the victims died while
      AFP  -  349 words
    • 434 14 Reuters [ADELAIDE] Rupert Murdoch won shareholder approval yesterday to move the corporate headquarters of his US$4B billion News Corp Ltd media empire to the United States and sever its Australian roots. The 73-year-old media baron, who has US citizenship and has lived there
      Reuters; AFP  -  434 words
    • 630 14 Bloomberg [LONDON] Lakshmi Mittal, the UK billionaire who made a fortune buying mills from Algeria to Mexico, agreed to acquire Wilbur Ross's International Steel Group Inc (ISG) for about US$4.5 billion to form the world's biggest steelmaker. The resulting group, the Mittal
      Bloomberg  -  630 words
    • WORLD WATCH
      • 104 14 Bloomberg AUSTRALIA New Zealand Banking Group Ltd's second-half profit rose 17 per cent to a record after it bought New Zealand's biggest bank and boosted lending to businesses as they increased investment. Net income rose to A 51.42 billion (Ssl .76 billion) in the
        Bloomberg  -  104 words
      • 81 14 Bloomberg TSINGTAO Brewery Co, China's biggest brewer by output, said third quarter profit fell 3.7 per cent as an increase in production costs eroded gains from higher sales. Net income fell to 138.3 million yuan (5527.8 million), or 0.1305 yuan a share, from
        Bloomberg  -  81 words
      • 98 14 Reuters [CHICAGO] Shares of Google Inc hit a new high on Monday as traders who had shorted the stock scrambled to buy back scarce shares after the Web search leader's better-than-expected quarterly results last week. Google's stock peaked at U*****.43 on Nasdaq during Monday trade
        Reuters  -  98 words
      • 87 14 Reuters [KUALA LUMPUR] Malaysia's smallest mobile phone firm by subscriber base, DiGi.Com Bhd, said yesterday its quarterly earnings more than doubled from a year ago, helped by an increase in customers. DiGi, 61 per cent controlled by Norway's Telenor, said its net profit for
        Reuters  -  87 words
      • 81 14 Bloomberg BRITISH American Tobacco Malaysia Bhd, Malaysia's largest cigarette maker, said third quarter profit rose 10 per cent as smokers bought more cigarettes before an expected increase in tobacco taxes. Net income rose to RM234.6 million (Sslo3 million) in the three months ended Sept
        Bloomberg  -  81 words
      • 98 14 AFP [TOKAMACHI] The death toll from Japan's worst earthquake in nearly a decade rose to 31 after six more people were confirmed dead yesterday, with 2,530 people injured and three others missing, police said. The toll from the earthquake has been rising as residents
        AFP  -  98 words
      • 89 14 Bloomberg DAIWA Securities Group Inc, Japan's second-largest brokerage by revenue, said second quarter profit rose 20 per cent, beating expectations, as Japanese companies sold more shares to expand their businesses. Net income for Daiwa, based in Tokyo, in the three months ended Sept 30
        Bloomberg  -  89 words
      • 86 14 Bloomberg HALLIBURTON Co, the world's largest oilfield-services company, had a US$44 million third quarter loss on costs stemming from a settlement of asbestos lawsuits. Halliburton had a US$23O million loss from discontinued operations as a gain in the company's stock price boosted the value of
        Bloomberg  -  86 words
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  • WORLD
    • 517 15 Move prompts Mr Spitzer not to press criminal charges against the firm Reuters [NEW YORK] Marsh McLennan chairman and chief executive Jeffrey Greenberg resigned on Monday, 11 days after New York Attorney General Eliot Spitzer accused the world's biggest insurance broker of rigging bids. At
      Reuters; BLOOMBERG  -  517 words
    • 258 15 Also boosted by strong refining and chemicals margins Reuters. Bloomberg [LONDON] BP Pic, the world's second largest oil company, beat analysts' expectations to report bumper third-quarter earnings yesterday on the back of high oil prices and strong refining and chemicals
      Reuters.; Bloomberg  -  258 words
    • 236 15 Reuters [NEW YORK] The NASD on Monday censured Citigroup Global Markets Inc and fined it U*****,000 for distributing misleading hedge fund sales literature, the latest regulatory mishap for the world's largest financial services company. The penalty is the regulator's largest involving hedge fund
      Reuters  -  236 words
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    • 230 15 m^ Lo jn IS® The HfigUt mjk SM Entrepreneur of the year BP $jj((Bßß®^^^^^^ Thank You! ft We are honoured. VHC&mP a To be conferred as the Winner of The Entrepreneur of The Year 2004 amongst a field of strong contenders this year, inspires and humbles us to work harder;
      230 words

  • BULL RUN 2004
    • Article, Illustration
      549 16/17  -  By JOYCE KOH LAST Friday, the shimmer of peak-hour traffic along Shenton Way and the placid green at the Padang were transformed into a heart-warming spectacle of pounding feet, energetic dancing and stirring music. It was The Bull Run 2004, the inaugural charity fun run through the
      PHOTOS BY CHRIS LOH, ARTHUR LEE. KUA CHEE SIONG/TNP, ABDUL AZIZ HUSSIN/ST  -  549 words
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    • 305 16/17 \JTflf44f The Bull Run™ 2004, th« first Autl,m Association (Singapore) S programme* under the Community Chest: charity fun run In the CBD has AWWA Teach Ma Programme i Spastic Children's Association School c anaad ana ralsaa students Care Service Centres Ss2 million for tha following s^ 001 f r he
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    • 165 16/17 Winning draws CONGRATULATIONS to the following pledge cards' lucky draw winners of The Bull Run 2004: *****629F (OSIM iMedic2oo massage chair); *****342E (HP Get Connected package); *****562 C (one-year Fitness First Plus membership); F*****36X (six-month Fitness First Plus membership); *****374E (three-month Fitness First Plus membership); *****823F (three-month Fitness First Plus
      165 words

  • AVIATION
    • 767 18 India could be adding 200 aircraft in 5-6 years to meet demand: analyst AFP [NEW DELHI] Global aircraft makers battling for business are likely to get billions of dollars of passenger aircraft orders from India where air travel is poised for massive
      AFP; AFP FILE PHOTO  -  767 words
    • 1804 18 CITY RIGHT ETA FLIGHT ETD EK6174 1430 UL2349 0030 UL312 1430 EK6173 1530 AdalaMa BA7381 1840 LH9770 2300 I lgl2 L" 977 ***** 2300 SQ402 2240 S0230 1840 ClMlhlll SQ351 0530 SK972 2155 v SK973 1900 Ahmpdlbld SQ461 1400 SQ462 0200 r Amsterdam SQ323 0615 KL838
      1,804 words
    • LOG BOOK
      • 104 18 AP [SYDNEY] Australian flag carrier Qantas Airways Ltd plans to spend US$4 billion replacing its ageing fleet of Boeing 747 jets with more modem planes, a newspaper reported yesterday, citing the airline's chief financial officer. The Australian Financial Review said the move was intended to
        AP  -  104 words
      • 98 18 AFP {TAIPEI! Taiwan's leading carrier, China Airlines, said yesterday it is launching twice-weekly scheduled cargo services to Prague on the back of strong demands, beginning mid-November. The new Prague route will add another city to the airline's extensive European cargo network, which already includes
        AFP  -  98 words
      • 88 18 AFP [BEIJING] China's Hainan Airlines, partly owned by Hungarian-born billionaire George Soros, said yesterday it has given up plans to bid for its loss-making code-share partner Malev Hungarian Airlines. Hainan said it had carried out a feasibility study but had decided against the
        AFP  -  88 words
      • 96 18 Bernama [KUCHING] The redevelopment of Kuching International Airport at a cost of RM62O million (*****.5 million) is expected to be completed by March 1,2008, Deputy Transport Minister Douglas Uggah Embas said yesterday. "The work done so far is slightly ahead of schedule," he told reporters. The
        Bernama  -  96 words
    • 477 18 AP [ATIANTA] A unit of American Express agreed to provide Delta Air Lines with up to US$6OO million in financing if the cashstrapped airline persuades its reluctant pilots to accept US$l billion in concessions. Delta shares soared 17 per cent on Monday. The deal with
      AP  -  477 words
    • 46 18 [NEW YORK]A man stands in a new explosives detection walk-through device at a passenger security checkpoint at John F Kennedy International Airport in New York City. The Sentinel II scanner is part of a government programme to detect explosive materials on air passengers APO
      APO  -  46 words
    • 306 18 NYT [NEW YORK] US Airways' chief financial officer resigned on Monday and was succeeded by a board member, six weeks after the airline filed for bankruptcy protection for the second time in two years. David M Davis, the departing chief financial officer, joined the
      NYT  -  306 words

  • SHIPPING
    • 343 19 Reuters [BERLIN] Germany believes it is too early to consider an alliance of German and French shipyards, a government spokeswoman said yesterday, hours before Economy Minister Wolfgang Clement was due to discuss industrial policy with his French counterpart. "The German shipyards have
      Reuters  -  343 words
    • 289 19 Source: Moneyline Telerate SGX '000 Oct 26 SS *1- Vol CH Offshore 0.41 0.01 1589 ChuanHup 0.67 unch 2731 Cosco Investment 1.04 unch 5185 CWT Distribution 0.56 unch 34 Ezra Hldgs 1.16 0.01 322 Freight unks 0.10 -0.01 121 Grand Banks Yacht 0.83 unch 26 Jaya Holdings 1.03
      Source: Moneyline Telerate  -  289 words
    • 560 19  -  Campaign also aims to woo students, professionals to maritime careers Reports by DONALD URQUHART [SINGAPORE] In a bid to elevate the profile of Singapore's maritime industry and attract people to maritime careers, the Singapore Maritime Foundation (SMF) is set to embark on
      560 words
    • 277 19 [SINGAPORE] Singapore'needs to develop a more "creative" ship financing sector if It is to succeed in attracting more shipowners and realise its International Maritime Centre (IMC) ambition, Singapore Maritime Foundation chairman Teo Siong Seng said yesterday. Despite Singapore's strong banking sector, the
      277 words
    • 356 19 Reuters [SINGAPORE] At least two tankers, loaded with fuel oil, are sitting in Singapore waters, unable to discharge their cargoes due to the current oversupply, according to industry sources. The cargoes havjß been committed but the storage tanks into which they are
      Reuters  -  356 words
    • 306 19 Bloomberg [LONDON] Crude oil futures fell for a second day after Norway's government intervened to end a labour conflict that threatened output from the world's thirdbiggest exporter. The government ended a 16-week dispute over benefits between the OFS labour union and Norwegian Shipowners Association, Labour
      Bloomberg  -  306 words
    • 872 19  -  STRAIT TALK By DAVID HUGHES MANY in the shipping would say that the industry has had its fair share of attention from environmentalists in recent years. A look at the area covered recently by the Marine Environment Protection Committee (MEPC) of the
      872 words

  • EDITORIAL & OPINION
    • 549 20 EDITORIAL ALMOST a year has passed since China's government started to impose administrative curbs on lending to slow down the economy's runaway growth. But the results have been minimal at best, which suggests that China will have to do more to avert a hard-landing scenario for its
      549 words
    • 1325 20  -  Markets are betting that Japan will finally cross the line into structural recovery By RICHARD ROUNTREE INVESTORS and economists are waiting with baited breath. After a decade of arguing "It is different this time", Japan's much sought-after economic recovery really seems to be underway. The confidence
      AP  -  1,325 words
    • 766 20  -  THE BOTTOM LINE LEON HADAR Washington Correspondent MOST public opinions polls are suggesting that the race for the White House is virtually deadlocked. American voters have been polled to death but pollsters and pundits are still hesitating to predict who is going to
      766 words
    • 869 21  -  Thanks to a new law, US stock brokers have been sending equity research jobs over to India ANDY MUKHERJEE Bloomberg SHANE Smith found his big break in Wall Street's moment of shame. Just as Mr Smith was trying last year to steer his lossmaking Internet financial
      Bloomberg; REUTERS  -  869 words
    • 791 21  -  LETTERS TO THE EDITOR Ee Teck Siew Singapore ACCORDING to the Department of Statistics, credit and charge card debt ballooned to $2.46 billion in 2003, up from $1.54 billion in 2000. As a percentage of total consumer credit, it has increased 37.4
      FILE PHOTO  -  791 words
    • 317 21  -  Lee Boon Hong Singapore THANK you for your report, "Housing glut lowest in nearly 8 years" (BT, 23 Oct). Activity seems to have picked up but on closer examination, you can see most of the projects are below the $1 million and often
      317 words
    • 132 21  -  Chua Swee Kiat General Manager Corporate Communications M1 I REFER to the article "Ml plans 7% share buyback" (BT, Oct 26). We wish to clarify that the Extraordinary General Meeting held yesterday was to allow Ml shareholders to approve a capital reduction exercise, not
      132 words
    • 385 21  -  Kenny Yap Kim Lee Executive Chairman and Managing Director Qian Hu Corporation Limited I REFER to "Why the late profit warning, Qian Hu?" (Hock Lock Siew by Wong Wei Kong, Oct 26) Your commentary enquired whether Qian Hu could have known of its third
      385 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to bttett«KNph.conLsg 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
      103 words
  • Page 21 Miscellaneous
    • 192 21 CRYPTIC CROSSWORD 2 Reading about a shrub (8) o T n he removed from 16 Made material incorporated Across: 1 Parterre, 5 Tip-off, 9 6) (8) Spare rib, 10 Stater, 12 Lottie, 13 4 Comfortable reception (2-4) 17 Did some agricultural work Worthing, 15 Tel Aviv, 16 Shun, 20 5
      192 words

  • 9424 22 STRAITS TIMES INDEX STOCKS Stock mm m Oo« Change Stotfcmmt Wt Close Change Allgreen 50c 0.30 1.030 +0 020 NOL 2.19 2.970 +0020 Bit IntJ US20C 0.47 0.980 OCBC 10.57 13.600 +0.100 CapitaLand 1.30 1.880 +0040 Partway H 25c 0.70 1.460 +0.020 Chart SemiCond 26c 0.81 1.040 -0.010
    9,424 words

  • 5731 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES l»lac*OT h» L»S» %y. %dy V OQ25 tod— Q>— 9* Cf"— QtHf Oilt» Otang* Ovny Wort) md« Prefcwn»y 7*94 03_ 31 -0? -13 -OA U lEARlRMgLl 7IU *15 15 <| M 41 hmMWMWT 9883 1.5 2.1 33 10 -05 43 Paofic 6174 13
    5,731 words

  • Page 24 Advertisements
    • 1750 24 OUMWMMIM I I EXPORT I OTHER IUQY WG ILONGKAfflllV^lHOUSTONlwwnasloiUfioll^TOWnl II TO AUSTRALIA(AUSTRALIA ASIA EXPRESS) I LOS ANGUS EXPRESS WHT "oMn" 27/10 I 12/11 18/11 "/II 17/11 "/II 20/11 VPSB VOT ll* SIM PRG FRI 11 STP MB API IWO NEDUOYD SOUTHAMPTON 44£45 OMR 03/11 I 19/11 25/11 26/11 24/11 24/11
      1,750 words
    • 838 24 lihtwiasu noto MRVICi vßsa/vor imwii wghiw m M 10 *t STtAITS VEMTUIE /14 15 3.2 21/10 31/10 04/11 07/11 W/11 STVAITS VENTURE/I S IS 3.2 12/11 14/11 W\ smns venture/u is 3-? «/n 27/ ii oW "V M* IWIffMIA/MNaMWMOWf L VfSsfl/VOY mwm HBCHT(M) I yOU KEE MM MNI SJN PKC
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  • Page 25 Advertisements
    • 798 25 7 Ab# inapt hrtr#-Ask OryMS t« I For Schedules, BL Searches, and Container Tracking, visitjXTj3wHomej|oge^^^ www.hamburßSud.com HAMBURC^jjtgUD »wt«nTO «irori —If w gar i =fe= ss^sorlzfz^t moSn" 1 11 som none savw pw«q >*bt 1«) ta-/¥nil <«m mnos itocmw mm fumucuA Vwwi/Ww* BPSB—Sfi«—^?P— ...i —si7fi si7n «7n 6T7T5 ra7H 657T2 iiiiHiio»wT
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    • 1182 25 rasa voy sin jit _hkg_ _wc_ jyh. _ws_ vbsel Iwy l sin _jg KYVUMVOSTOK MB W 30/10 VII WW 10/1110/11 KMT( FOff KEIAMC 410S 31/10, _VjL JgLZ" r," HTWO6KSS lis w W 11/11 mm mm KMTCSmGAPOKE 415S 4/11 IHYMHOGC OISS 11/11 lVlljH/11 |M/ll|?2/llUvillgVll j KMTC SHANGHAI 413S |14/H 11/11 l
      1,182 words
    • 912 25 m gj<3WA WEEKLY EXPRESS SAIUWG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICO POINTS VtSSQ VOT ISW rJUAWG IcOlOM*) In SWVA COIOMO MIDBAGANDHI OM7W 770 a OMIT 01 WOV MMOV 07WW lAIIVGANDHI OM7W 01 NOV 03MOV MMOV MHO* 17MOV lAT »lIQ6t MM 111 MOV 10 MOV 13 MOV It
      912 words

  • Page 26 Advertisements
    • 1245 26 lUftAf WALLENIUS WILHELMSEN website: http://www.2wglobal.com TAIKO AF42I 4201*1 4.4* I 31/10 1 24/11 03/12 10/12 11/12 15/12 11/12 17/12 07/12 I TAUSMAN AM22 320T0«s 6.3* I 14/11 I 20/12 27/12 28/12 02/01 31/12 04/01 24/.12 TARONGA AF423 320T«n 6.25 M 30/11 25/12 04/01 11/01 12/01 14/01 14/01 U/01 01/01 tHo
      1,245 words
    • 1374 26 YBSft m SB— EOL_ YBM m SH tmm 12m ***** jtsm u3z gzifi—a/it CSH3OI 0047T 2«/15 25/10 lIIMMTI7 HIS 24/111 21/10 PAC lANOA 1375* M/l® 25/10 Mfiraii 12ZJ 21/111 21/10 paciamoa urn 24/15 24/15— ntuu m<m Z»/'Q w/" of 2301 oow 26/iQ 27/10 PACIAMOA J327N 27/10 27/10 Of 2301 004*
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    • 165 26 M 514 05 DESTMATMN UMTT 32/10 01/11 03/11 KUTUNG/PtUALAM OflUAYAH 20/04 21/10 29/10 JAMM/PBANMRU PARADISE 12/04 01/11 03/11 PAIEMIANG/PANMNG PRIMA SAMUDRA 12/04 29/10 01/11 KLAWAH/lHOIMAWl PUtAUWEH 01/04 03/11 0S/11 SAIAN6/MAIAHAYATI hatioam 2i/>4 is/11 o;/n ibigkuuj/padang vtssa vox tw no wmm TRANS EXPRESS 09/04 III PORT 29/10 JAKARTA/OGAMNG FAJAR MAS 17/04
      165 words
    • 519 26 BSA ik MYANMA ■H FIVE STAR LINE (Mvommt Notional Line) Loading for Yangon VESSCL VOY SM PU PIN PGU PAGAN 336W 03/11 HPA-AN 326W Sift IN MAUTSIA: lOUSTEAD SHIPPING AGCNCItS KUI/PKL 03-*****3 M PIN: 04-2*33(15 A"™ 8 JIHA ACCEPTIIIB CONVENTIONAL CBO HKG SM IG SM PGU PKI KUC OCEANIA OUIIN
      519 words

  • Page 27 Advertisements
    • 1256 27 la "saewsresE^™ ,TT"TiTT!"""rTiCTmi rasa vot osk ioi smi no it w w w» wwa ST gg. g_ g>L *iL I™- ™L MOL OASIS 5258 03/10 04/10 05/10 06/10 07/10 11/10 15/10 17/10 WW.HM.3g7 N023 29/10 31/10 04/11 08/11 01/11 09/jl \W 11/11 MOLETtRWITY SOI2 07/10 08/10 09/10 10/10 11/10 15/10
      1,256 words
    • 1012 27 I rjj PDZ LINES I /LJL\ SINGAPORE:TON6JOOSHIPPINGPTILTD vot vot w» [»»|t»wooN 1| ■6B HONG 4003 a/10 30/10 IsKWK 40*1 tt/10 01/11 jHKIIWMI 4041 01/11 OE/ 11 jTMIGOHSm 364N 29/10 05/11 11 |vissa |voy msM| nu mm in mua |wssa vot raawi tvwi so ivesa vw raMI hph MUHfMIKNG 404?" 01/11
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    • 491 27 ■PVfVni TIGER WAVE 230N 02-03/11 09-11/11 16-17/11 I HUiMiilll TIGER PEARL 231N 06-07/11 12-14/11 20-21/11 I «nil™ BGE* SKY 232N 09-10/11 16-11/11 23-24/11 I ■■■■TIGER SEA 233N 12-13/11 18-20/11 26-27/11 I TIGER SKY 234H 16-17/11 23-25/11 3MI/121 ■VVRRMpHUTAN 305 31-01/11 08-10/11 18-19/11 I ■UUUflj BALSAM 164 02-03/11 10-12/11 20-20/11 I
      491 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 7138 28 ETA ETA Advwtfear Vm*I V«y»»« Tyhphont ETA ETA AAwtiMr Vonl Tllipfcim SIN Daffn Name Name Dofn Name Nmm M« MMtar MMMMMMNBaHHMMaMMBMMMMMGMNaMBtMaiQiaMUMMMi T .«..y<...wa Cote D'lvoirp To GLADSTONE (GLT) 2138 Australia To ABIDJAN (ABJ) 2003 ml2r 7 19/12 NGPl CHANGSHA 035 *****288 04/11 16/12 China
      7,138 words

  • MOTORING
    • 667 29  -  The Malaysian budget carrier has awarded the S'pore listed company its first commercial aircraft refurbishment contract, reports SAMUEL EE SAMUEL EE JACKSPEED Corporation Ltd is taking off with Air Asia after the Malaysian budget carrier awarded the listed company its first commercial aircraft refurbishment contract. Jackspeed
      FILE PHOTO  -  667 words
    • 577 29  -  By SAMUEL EE TWO brands better known for their passenger cars have quietly entered the more than $12 million pick-up market. Ssangyong Motors Singapore and Proton Singapore recently launched their Musso and Arena models respectively, and are pitching the lifestyle and leisure aspects of these
      ARTHUR LEE  -  577 words
  • Page 29 Advertisements
    • 251 29 Your employee before SRP. Your employee after SRP. 3> «9p With SRP, your employees in the hospitality industry will never be the same again. I^sSSfc Selling not just a product or service, but an experience, is key in today's hospitality industry. An experience that will bring guests back again and
      251 words

  • EXECUTIVE MONEY
    • 599 30  -  Independent adviser Providend offers help and not hard-sell. GENEVIEVE CUA finds out more GENEVIEVE CUA IF you think you may need more insurance cover but are reluctant to call an adviser for fear of being subject to hardsell, independent adviser Providend has a possible answer. It
      Source: Providend  -  599 words
    • 407 30  -  A weekly highlight of the top fund sectors over a 12-month period. Data from Standard Poor's Fund Services. By Chua Boon Lee The Ngh yWd global bonds sector has been attracting a growing fan base lately as investors spread out in search of higher returns in
      407 words
    • 1211 30 HOW many of us take the time to read the terms and conditions that come along with a brand new credit card? Generally, most of us don't read the fine print. It is only when we come across an unexpected charge or encounter
      1,211 words
    • 388 31 By GENEVIEVE CUA HOW can you tell if an adviser has advised you to switch policies or funds unnecessarily? The Monetary Authority of Singapore yesterday issued a consumer alert and a set of guidelines on switching, in an effort to
      388 words
    • Article, Illustration
      1070 31  -  YOU AND THE TAXMAN Should Singapore switch to taxing current rather than preceding year income? A look at the issues By WINNIE LIEW, RUSSELL AUBREY LAST month, the Ministry of Finance lauhched a public consultation on its website asking whether we should switch to taxing current income.
      1,070 words
    • 4158 31 UNIT TRUSTS FUNDS ■VnffXniRmBHHHBB shenton lncome(USD) 0 884/0 911 ■MILuIeMHBHH Shenton Asia Pacific!** 0 796/0 828 Shenton Gb Opportunities/** 0.633/0 658 W* n mi Shenton Dynamic Bond/* 1381/1422 sS&JJK&Srf r ~"?Shenton Greater China 1091/1135 S Mendaki Global/** 0656/0 676 Star Europe Bal 1 058/ Shenton Global Advantage 1 ifc/1 924
      4,158 words
    • 1255 32  -  Penetration among taxpayers remains low as tax disadvantages and alternative savings plans leave the retirement scheme looking unattractive. GENEVIEVE CUA reports GENEVIEVE CUA IT IS the fourth year running for the Supplementary Retirement Scheme (SRS), but even as concern over the dearth of retirement savings
      1,255 words
    • 626 32  -  By GENEVIEVE CUA THE retail funds administration space is hotting up, as Navigator, owned by the Aviva group, has begun to offer cash payouts to financial advisers who move clients' accounts from rival administrator iFast Financial. The cash payout offered is
      626 words
    • 754 32  -  By MATTHEW LYNN Bloomberg OF all the markets you could have invested in during the past 18 months, you would have done best in commodities. Oil has hogged most of the attention, yet the price of just about every raw material has been soaring.
      Bloomberg  -  754 words
  • Page 30 Advertisements
    • 235 30 Now the power to control your global enterprise from any location, is in your hands. (Fingertips to be precise}. Introducing Tally ees 6.3 Server Edition. Designed to create a new paradigm in Accounting without frontiers, the Tally ees 6.3 Server Edition enables access to real-time financial data from any location
      235 words
    • 35 30 Lianhe Zaobao Fog I Ifive J Ipensm hSf? I cW I I Ikvmsi* I »Bi»dS4gE I I our cat? J LCall our C.A.T.S. hotline at I CALL. 1800-289-9988. Buy It S«ll It. Find It. 11
      35 words