The Business Times, 6 January 2005

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Total Pages: 30
1 30 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 023/03/2004 Thursday, January 6,2005
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  • 667 1  -  COMMENTARY By SHOEB KAGDA in Jakarta ACING an unprecedented human tragedy and colossal damage around the Indian Ocean, world leaders meet today in Jakarta to take stock and forge relief and rebuilding plans. Almost two weeks after a huge earthquake off Sumatra triggered tsunamis
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  • 155 1 STI 2,071.04 (+2 55) ST INDEX FUTURES 2,074.00 (+5.00) SIMSCI 247.26 (+0.46) SIMSCI FUTURES 247.70 (+0.80) MARKETS Wednesday Change KISECOMP 907 +5.47 NIKKEI 225 11,437.5? 80.23 HANG SFNG 13,764 36 ***** SET INDEX 683.50 0 98 JAKARTA COMP 1,015 43 3.112 MANILA COMP 1,875.37 +2.30 SEOUL COMP 885
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  • 635 1  -  Market players expect this year's trading volume to match last year's By TEH HOOI LING ISINCAPORKI The generally positive sentiment for stocks in 2004 drew out more investors, which led to a 14 per cent jump to $182 billion in the total worth
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  • 40 1 TOP STORIES... COMPANIES. r BLUE CHIPS SINGAPORE r 1? ECONOMY PG 14 MALAYSIA PG 15 INDONESIA PG 15 CHINA PG 16 INDIA 16 ASIA-PAC 1 WORLD P > f 7 AVIATION SHIPPING EDITORIAL PG?O BIZIT PG 16 PROPERTY.. PG29 30
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  • TOP STORIES
    • 574 2  -  Steady rise in asset turnover main driver of improved result: MAS study By WONG WEI KONG [SINGAPORE] Singapore companies are apparently making better use of their assets, which has improved their performance in relation to their regional peers. A study by the Monetary
      Source: Thomson Financial  -  574 words
    • 774 2 Japan set to announce debt moratorium JAPAN will unilaterally freeze debt repayments from countries hit by the Indian Ocean tsunamis amid a growing consensus for a moratorium among major creditor nations, a report said yesterday. Japan also signalled it could pledge even more than its announced US$5OO million
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    • 556 3  -  But statements from both firms may leave punters in the lurch By ANDREA TAN [SINGAPORE] Shares of Raffles Holdings and Ascott Group shot up yesterday as punters bet the duo could be winners as Singapore considers building a mega resort with a possible
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    • 554 3  -  By CHUANG PECK MING (SINGAPORE) Dick Yap loved the fried chicken at the Carona Chicken stall so much that he eventually bought over the business. Now, nearly a decade and 15 outlets later, other customers equally enamoured of the taste of the chicken
      ARTHUR LEE  -  554 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
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  • TSUNAMI TRAGEDY
    • 506 4 AID The proposal has received support from Europe and the United States AFP. Reuters AP (TOKYO] Japan will unilaterally freeze debt repayments from countries hit by the Indian Ocean tsunamis amid a growing consensus for a moratorium among major creditor nations, a report said yesterday. Japan
      AFP.; Reuters; AP  -  506 words
    • 461 4  -  By LIZA LIN [SINGAPORE] Charles Moore was having breakfast with his family in Galle, southern Sri l.anka, when they noticed the tide coming in rapidly. The 41 -year-old managing partner of search firm Heidrick Struggles, his wife and three children aged six, four and
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    • 295 4 AFP [PARIS] A tsunami alert system is a combination of real-time sensors, datacrunching computers, orbiting satellites and the nuts-and-bolts task of training the public to respond to warnings. This mix of silicon and psychology is already in place in the
      AFP  -  295 words
    • 589 4 TOLL Morgan Stanley lowers Thai growth forecast to 5.7% Reuters AP (LONDON 1 The tsunami catastrophe could cost insurers between US$5 billion and US$lO billion, according to estimates. According to an International Underwriting Association spokesman, "those estimates are an impression that
      Reuters; AP  -  589 words
    • 80 4 [BANDA ACEHJA member of the US military team carrying an injured Acehnese girl onto a US Navy helicopter at the airport in Banda Aceh, Indonesia, on Tuesday. An army of aid workers has been racing to supply food and water to millions of tsunami victims and
      REUTERS  -  80 words
    • 383 4 AFP. Reuters, AP (PAKISI Companies across l .urope, the US and Japan on Tuesday continued to pour funds into the Asian tsunami relief effort, supplementing government donations with tens of millions of dollars in financial aid, food and supplies. While it was difficult
      AFP.; Reuters,; AP  -  383 words
    • 600 5 TOURISM Plans are underway to rebuild broken infrastructure and restore confidence AP. AFP. Reuters Bloomberg. (BANGKOK] Tourism officials in Thailand and Sri I.anka are hoping to draw vacationers back to beaches sledge-hammered by last week's tsunamis. In sharp contrast to the gloom hanging over
      AP.; AFP.; Reuters; Bloomberg.; AFP  -  600 words
    • 415 5 Travel advisory notwithstanding, a return of the tourist dollar can help the devastated region recover AP, AFP AN e-mailed plea from the manager of the Kata Beach Resort in tsuna-mi-ravaged Phuket: "We're re-open for business, clients are again sunning themselves by the pool and, please, put
      AP,; AFP  -  415 words


  • SINGAPORE MARKETS
    • 543 6  -  STOCKS They take over from the pennies, accounting for 10 per cent of total business done R SIVANITHY Senior Correspondent IF TUESDAY'S session was dominated by small caps like Citiraya and Zhongguo Power Plus, then yesterday's belonged to Raffles Holdings, Ascott Holdings and
      Source: Bloomberg  -  543 words
    • Article, Illustration
      604 6 *>"•/ *>■ Cosco Corporation MR £#MK $1.23 (f1 CMt) Ktai iRfSKMithii D#c 5 MANAGEMENT'S projections of a doubling in FYO4 earnings in line with projections. Cosco's president A Hai Sheng ha* said in press re- ft lli <a I I 74 4. jtnr vwii ro last year, including
      Source: Bloomberg  -  604 words
    • 537 6 CURRENCIES Reuters [LONDON! The doUar climbed to three-week highs against the euro and the yen yesterday, building on gains after the minutes of the US Federal Reserve's latest meeting suggested the central bank might step up the pace of interest rate rises. The dollar chalked
      Reuters; AFP  -  537 words
    • TRADES TO WATCH
      • 106 6 SHIPPING and property tycoon Ow Chio Kiat bought another 1.8 million shares in Singapore Shipping Corp on Tuesday at about 37 cents apiece on the open market, raising his direct and deemed shareholding to 32.06 per cent from 31.64 per cent. Mr Ow, who is executive chairman of the ship
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      • 147 6 SCHRODER Investment Management (Singapore) is no longer deemed to be a substantial shareholder of China Flexible Packaging after some 1.5 million shares were sold on Monday on behalf of clients for whom Schroder was acting as an investment adviser. Schroder's deemed stake now stands
        147 words
      • 105 6 PERTAMA Holdings' non-executive chairman Gerald Harvey and his wife, non-executive director Kay Lesley Harvey, saw their shareholdings increase after privately held Harvey Norman Singapore Pte Ltd bought 1 million shares on the open market between Nov 17 and Dec 28 last year. Those shares were purchased
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      • 104 6  -  Compiled by KENNETH LIM FORMER Links Island Holdings chairman Winstedt Chong Thim Pheng bought another 100,000 shares of recently listed Swissco International yesterday, increasing his stake to 5.39 per cent from 5.32 per cent. No information about pricing was given. Mr Chong, who
        104 words
    • Article, Illustration
      425 6 OTHER SINGAPORE INDICES Jan 5 VALUE CLOSE BT OB/OS 657.00 -20.00 BTCAPI -*****.00 +53.00 BT 10-day MA -*****.00 +66.00 All-SG Equities 535.68 +2.02 SG Equities Elect 159.90 -1.82 SG Equities Fin 1627.75 +1.77 SG Equities Prop 525.22 +2.45 SIMSCI 247.26 +0.46 SiMSCI Futures 247.70 +0.80 MOST ACTIVE STOCKS VOLUME RafflesH
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  • COMPANY NEWS
    • 370 7  -  About 85% of STPL's 128 employees have found alternative employment By KENNETH LIM ALMOST $14 billion worth of Singapore-listed shares once deemed to be controlled by Singapore Technologies Pte Ltd (STPL) have been transferred to parent Temasek Holdings as part of streamlining efforts.
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    • 487 7  -  By PAULINE NG in Kuala Lumpur THE acquisition of a string of Malaysian assets by Singapore's two biggest investment agencies last year could be a taste of things to come, analysts say. Encouraged by a thaw in bilateral relations and fruitful forays into
      FILE PHOTO  -  487 words
    • 761 7  -  HOCK LOCK SIEW By KALPANA RASHIWALA WHAT'S behind the 80 per cent rise in Capita Land's share price over the past eight months, and what can further fuel the increase? The simple answer is a re-rating of the value of its feebased income from its financial
      761 words
    • 507 8  -  JP Morgan calls for 'overweight' and lifts target price to $2.09 By ANGELA TAN SHARES in diversified ma-rine-based conglomerate SembCorp Industries (SCI) yesterday surged as much as 12 cents or 7.4 per cent each to $1.74 in active trading after JP Morgan Asia Pacific
      Source: Bloomberg  -  507 words
    • 359 8  -  By MICHELLE QUAH ERASER Neave's (F&N) nonexecutive deputy chairman Fock Siew Wah is stepping down as a director after about nine years on the beverage giant's board, to devote more time to his "growing commitments" in other areas. Mr Fock, who will retire
      FILE PHOTO  -  359 words
    • 375 8  -  By KENNETH LIM JAPAN'S Mizuho Corporate Bank and China's Bank of Communications (BOC) have also emerged as creditors of China Aviation Oil (CAO) as advisers for the crippled jet fuel trader prepare a debt restructuring plan ahead of a Jan 24 court
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    • 4992 8 UNIT TRUSTS FUNDS Shenton Thrift!** Shenton Income 528/ «M«imtsM*tatK'u»l Shenton incomefUSD) 0928/ SwEuroaEanr- 0 802/ Shenton Asia Pacific'" 0 892/ Star Europe Bond 1 292/ Shenton Gib Opportunities/** 0687/ Star Europe Bai 1143/ Shenton Dynamc Bond/ A 1423/ Star AstanTiger «fy o 936/ I» Star Asia Bond 1 263/ Mendak'
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    • COMPANY BRIEFS
      • 56 10 BOUTIQUE property developer Soilbuild Group Holdings' initial public offering of 34.5 million new shares at 31 cents each was two times subscribed at its close on Tuesday. The public tranche of 1.5 million shares attracted 804 valid applications representing a total of 37.3 million offer
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      • 51 10 ITALIAN-BASED architectural facade specialist Permasteelisa Pacific Holdings (PPH) has completed its acquisition of the Asian division of Germany's Josef Gartner group. PPH paid $44 million for the purchase, through the issue and allotment of 110 million new shares to Josef Gartner GmbH and Josef Gartner Co UK
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      • 135 10 APPAREL retailer and property landlord Second Chance Properties said its subsidiary Top Chance Properties has filed an appeal against a court judgement in favour of the vendors of a shop unit which its subsidiary had decided not to buy after signing a purchase option. Second
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      • 45 10 MAINBOARD-hsted Sembeorp Logistics has increased its stake in Japanese joint venture, Footwork Express, a company involved in transportation and warehousing activities in Japan. SembLog tipped its staketo 38.4 par cent, from 35.2 per cent, by converting its'baeds in Footwork.
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      • 42 10 WESTCOMB Financial Group's China unit is selling 40 per centof its stake in wholly-owned subsidiary Multi-Assets Inn uuhaunt Limited to Chinese businessman Su Hong Yang, Westcomb said Mr Su would act as their representative in North China.
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    • 642 10  -  But it highlights the tact that the guidelines are not backed by law By JOYCE KOH THE Consumers Association of Singapore (Case) yesterday applauded the initiative to introduce a practice code for banks on credit cards, but noted there were still grey
      FILE PHOTO  -  642 words
    • 336 10  -  By KAREN HO LETTED contractor ISG Asia Singapore has filed a writ of summons in the High Court against The Legends Fort Canning Parte, alleging that the country chib has failed to pay for renovation works done in 2003. In an announcement, ISG
      336 words
    • 373 10  -  It sets up Xiamen unit to buy 24-acre site for 36.5m yuan By JOYCE KOH MAINBOARD-LISTED FibreChem Technologies yesterday announced its plan to expand its operations to capture the expected growth in demand for its products. The China-based chemical fibre
      373 words
    • 231 10 Reuters SOUTH-EAST Asia's largest weapons maker, ST Engineering Ltd, is likely to post a 23 per cent rise in fourthquarter earnings and a fast* swellingnorder book should lift profitrisrther this year, analysts slid. The 55 per cent stateowned group generates about half of
      Reuters  -  231 words
    • 239 10 Reuters INDONESIA'S largest listed oil and gas producer, PT Medco Energi International Tbk, said yesterday its founding shareholder, the Panlgoro family, was raising its stake in the company for about US$3OO million. The Panigoro family is buying stakes in Medco from Thai energy firm
      Reuters  -  239 words
  • Page 7 Advertisements
    • 581 7 Extend your global reach I MKp I m I wb Be a part of the International Enterprise Forum 05 2-3 February 2005, Raffles City Convention Centre, Singapore The International Enterprise Forum (lEF) is an annual meeting of top minds on issues relating to internationalisation. Over the course of two power-packed
      581 words


  • Page 9 Advertisements
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  • BLUE CHIPS
    • 925 11  -  Besides generating profits, it needs to restore confidence following scandals involving listed companies, says WONG WEI KONG WONG WEI KONG IT HAS been an eventful year for the Singapore Kxchange (SGX) and 2005 could prove even more challenging. Along with the usual business of generating
      BLOOMBERG; Source: Bloomberg; FILE PHOTOS  -  925 words
  • Page 11 Advertisements
    • 1765 11 SDatacraft DATACRAFT ASIA LTD (Incorporated in the Republic of Singapore) (Registration No. *****1842Z) NOTICE OF ELEVENTH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Eleventh Annual General Meeting of Dalacraft Asia Ltd will be held at The Regent Singapore, 1 Cuscaden Road, Singapore *****5 on Tuesday, February 1, 2005
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  • SINGAPORE NEWS
    • 445 12  -  Current importer Car Cars will remain the authorised dealer Reports by SAMUEL EE VOLKSWAGEN AG will take over the importing of its VW cars in Singapore from this month and plans to invest Ssls million over the next five years to strengthen market share
      FILE PHOTO  -  445 words
    • 266 12 THE cost of a big-car COE plunged to a 12-year low yesterday as premiums in all passenger car categories slipped below $20,000. The cost of a Certificate of Entitlement in Category B for cars above 1,600 cc slumped by $4,706 to $14,002. The
      266 words
    • NEWS ROUNDUP
      • 43 12 WEBER Shandwick and GolinHarris, the public relations units of The Interpublic Group, announced yesterday a new management line-up in Taiwan. Darren Burns is now the new managing director and Nikki Lin is general manager of Weber Shandwick.
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      • 79 12 FAR East Flora announced yesterday that it has acquired Goodwood Florist, one of the largest florists in Singapore, and will be relaunching it on Jan 19. The acquisition is part of a move by Far East to expand and grow its market share in
        79 words
    • 297 12  -  By CAROLYN QUEK THE Management Development Institute of Singapore (MDIS) will boost its foreign student number to 10,000 in 10 years' time as it gears up for expansion with a groundbreaking ceremony yesterday of its first campus. MDIS currently has 2,000 foreign students
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  • Page 12 Advertisements
    • 1079 12 V < IST-H FRASER AND NEAVE, LIMITED (Company Registration No. *****0001R) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING Date: Thursday 27 January 2005 Place: Level 2, Alexandra Point, 438 Alexandra Road, Singapore *****8 NOTICE IS HEREBY GIVEN that the 106 th Annual General Meeting of FRASER
      1,079 words
    • 1391 12 To advertise call toll-free 1800 289 8822 Email: notices@sph.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SINGAPORE SHANGHAI INVESTMENT CONSORTIUM PTE LTD (In Members' Voluntary Liquidation) Company Registration No. *****3668E NOTICE OF RESOLUTIONS At on Extroordinory General Meeting of the Company held at
      1,391 words

  • SINGAPORE FOCUS: SERVICES
    • 614 13  -  By ANNA TEO JUST coming out of their recent slump, executive search firms should see significant revenue growth in an improving global economy in the next few years. But it will probably be 2007 or 2008 before any return to prior peak levels, said
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    • 921 13 EXECUTIVE SEARCH More local firms are turning to headhunters when recruiting senior staff, says ANNA TEO W Technological 2002 for a new chief to succeed president Cham Tao Soon, it appointed international executive search firm Heidrick Struggles to the job. Within nine months, Singapore defence
      ARTHUR LEE  -  921 words
  • Page 13 Advertisements
    • 20 13 ETitl H Lianhe Zaobao SME I boss tells his woes I I in interview: I I L 111 I I
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    • 1255 13 Notices HIAP HOE LIMITED (Incorporated in the Republic of Singapore) (Company Registration No.: *****0676Z) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Hiap Hoe Limited ("Company") will be held at Superßowl Golf Country Club, Merlion Room, 6 Marina Green, Singapore *****9 on 20
      1,255 words

  • ECONOMY WATCH
    • 508 14 Markets starting to fear more aggressive Fed tightening: analysts AP [WASHINGTON] Federal Reserve policymakers suggested at their December meeting that they would continue to push shortterm interest rates higher to blunt the risk of an inflation flare-up, according to minutes released
      AP  -  508 words
    • 295 14 Bloomberg [TOKYO] Japan's economic growth will accelerate later this year aided by demand from China and the United States, said Hiroshi Okuda, chairman of the Japan Business Federation, the nation's most powerful business lobby. Mr OkUda made the comment at a joint
      Bloomberg; AFP  -  295 words
    • 403 14 Bloomberg [NEW YORK] US services expanded at a stepped-up pace in December, capping a record year for the economy's largest segment a private survey found. The Institute for Supply Management's index of business at non-manufac-turing companies rose to 63.1 last month from
      Bloomberg  -  403 words
    • 334 14 Big returns for energy investors in '04: survey Reuters INEW YORK] Surging commodity prices ensured that 2004 was another stellar year for energy investors, as all sectors within the industry enjoyed much larger gains than broader market indices, a survey by an energy consulting firm showed on Tuesday. About 90
      Reuters  -  334 words
    • 665 14 It also aims to achieve monetary growth of 15% Reuters [BEIJING] China's central bank on Tuesday pledged to push ahead with currency, interest rate and banking reform in 2005, but repeated its policy of keeping the yuan "basically stable". "We will quicken the
      Reuters; AFP  -  665 words
    • 203 14 Reuters [BEIJING] China's central bank will fine-tune its monetary policy and spur lending when necessary, a senior central bank official was quoted yesterday as saying. Beijing has taken a series of measures to tighten credit since mid-2003, worried lending was
      Reuters  -  203 words
  • Page 14 Advertisements
    • 40 14 I BOTTLE AID I I SUPPORT FOR TIDAL WAVES ASIA I I (jssi&O I I I PONT! WINE CELLARS PTE LTD I Unit 04-02 Centrepoint, Orchard Rd Tel: 6733 0369 Fax: 6737 3872 H Website: www.pontiwinecellars com.sg Email: enquiries@pontiwinecetiars.com.sg H
      40 words

  • MALAYSIA/INDONESIA
    • 555 15 Led by Marubeni, it will develop a power, water supply project Bloomberg [TOKYO] Malaysia's Tanjong Pic's power generation arm, Powertek Bhd, is among a group led by Japan's Marubeni Corp and JGC Corp that say they have been selected to develop a US$3 billion
      Bloomberg  -  555 words
    • 2414 15 VOt FSBM .0.81 unch 83 H r—) FTEC Resources 0.45 0.01 S72 FurqanBus.Org 0.35 0.01 1123 ASMRealty 1.23 unch 21 Gadang 1.41 0.03 1052 -®-f! ■®-®l 192 Gamuda 5J5 -0.05 256 ACP Industries. 1.15 -0.07 9 General Corp .0.50 0.01 78 Advance Synergy 0.39 0 01
      2,414 words
    • 502 15 8% annual growth expected from 2005 to 2007 I KUALA LUMPUR) Malaysia's retail sales are expected to outgrow gross domestic product (GDP) by between 1 and 3 per cent from 2005 to 2007, according to a report in the Malaysian Business Times. Retail Group
      FILE PHOTO  -  502 words
    • 247 15 [KUAIj\ LUMPURJ Govern-ment-linked companies (GLCs) will take centre stage on Bursa Malaysia Bhd this year as investors monitor their reforms and restructuring, the Malaysian Business Times reported, citing analysts. The follow-through and delivery of key reforms and ongoing restructuring by GLCs
      247 words
    • 133 15 IKUAIA LUMPURI Malaysia's corporate finance sector remained healthy in 2004 with most merchant bankers closing the year better than the previous period, says a report in the Malaysian Business Times. Commerce International Merchant Bank (CIMB) Bhd was the leader in underwriting Malaysia's equity offerings,
      133 words
    • 185 15 AFP IJAKARTAI Garuda Indonesia expects revenue to rise 13-15 per cent this year from an estimated 10 trillion rupiah (551.77 billion) in 2004 on the back of an improving economy and new routes, the flag carrier's president, Indra Setiawan, said yesterday. "If
      AFP  -  185 words
    • 155 15 Reuters I KUALA LUMPUR] Malaysia's second-largest power firm, Malakoffßhd, said yesterday it expected better earnings in 2005 thanks to acquisitions at home, and reaffirmed its intent to expand overseas. Malakoff reported a net profit of RM460.3 million (*****.8 million) for the year ended Aug
      Reuters  -  155 words
  • Page 15 Advertisements
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  • GREATER CHINA/INDIA
    • 630 16 Parent of listed China Netcom poised to pay US$1b for 20% stake, sources say Reuters [HONG KONG] China Netcom Group, the parent firm of China Netcom, plans to pay around US$l billion or a 20 per cent premium, for new shares in PCCW
      Reuters; Source: Bloomberg, Photo: AFP  -  630 words
    • 575 16 Greater China is a clear hotspot for 2005, analysts say Reuters [HONG KONG] The financial industry looks set to lead Asian merger and acquisition (M&A) activity in 2005 after banks, insurers and other institutions accounted for a quarter
      Reuters  -  575 words
    • 302 16 Bloomberg [SHANGHAI] China's insurance regulator is setting up a fund to protect policy holders in the event of bankruptcy by insurers, as part of efforts to maintain financial stability. The country's life and non-life insurers must contribute to the fund, which will be managed
      Bloomberg  -  302 words
    • 379 16 Beijing cracking down on party officials who frequent HK-built Emperor casino Reuters [BEIJING] Chinese tourists, including Communist Party officials, are squandering hundreds of millions of yuan each year at a North Korean five-star hotel and casino, state media said yesterday. Every day, more
      Reuters  -  379 words
    • 407 16 Reuters [BOMBAY] State-run Bank of India is planning to acquire a bank in Indonesia, its chairman M Ver.ugopalan said yesterday. The bank also plans to raise more than one billion rupees (Ss3B million) through a public issue of shares in July, he said.
      Reuters  -  407 words
    • 204 16 Bloomberg (NEW DELHI] India's government offered 20 oil and gas exploration areas in a fifth round of auctions that began on Tuesday part of an effort to boost production and reduce the nation's dependence on imports. India, Asia's third-big-gest energy consumer behind
      Bloomberg  -  204 words
  • Page 16 Advertisements
    • 1086 16 Odl toO-frce 1800 289 8822 ft »Qtica#»ftxoajg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF GOLDMARK FISHERIES PTE LTD Company No: *****2404G (PROVISIONAL LIQUIDATOR APPOINTED) Statutory Declarations by directors of Company's inability to continue business by reason of its liabilities Name of Company GOLDMARK
      1,086 words

  • ASIA-PACIFIC/WORLD
    • 1053 17  -  ASIA INSIGHT A change in leadership may help it regain lost credibility and give focus to its role of financing global development ANTHONY ROWLEY Tokyo Correspondent James Wolfensohn has confirmed that he will leave his post as President of the World Bank before
      AFP  -  1,053 words
    • 675 17 Reuters [NEW YORK] A weaker US dollar may give some US companies a competitive edge this year against foreign rivals doing business in the United States and empower domestic manufacturers to flex their muscle with higher prices. US companies doing business
      Reuters; AFP  -  675 words
    • 369 17  -  By AL LABITA in Manila [MANILA] Standard Poor's (S&P) has cut the credit rating of Australia's largest dairy firm, National Foods, after listed Philippine conglomerate San Miguel Corp (SMC) made a A 51.78 billion (552.2 billion)
      369 words
    • 260 17 Reuters [NEW YORK] US executives sold US$4l billion worth of their own companies' stocks in 2004, the second-highest level since 1990, according to Thomson Financial. Insider sales in 2004 jumped 40 per cent over 2003, with the first and fourth quarters
      Reuters  -  260 words

  • AVIATION
    • 497 18 Industry revenue may dip this year as analyst says first-class tickets may cost 34% less Reuters [NEW YORK] Delta Air Lines, the No 3 US carrier struggling to avoid bankruptcy, has slashed its US fares, an industry analyst said, in a move
      Reuters; AP  -  497 words
    • 259 18 AFP [MANILA] A lower court in the Philippines has ordered the government to pay a US$62 million downpayment to the builders of a Manila airport passenger terminal that was expropriated last month, officials said on Tuesday. Following the order of the regional trial
      AFP  -  259 words
    • 241 18 Bloomberg [HONG KONG] Cathay Pacific Airways Ltd, Asia's sixth-largest carrier by sales, plans to increase its workforce by about 10 per cent this year as demand for air travel increases. "We plan to add about 1,500 staff this year, including 1,200 cabin crew and 150 pilots,"
      Bloomberg; BLOOMBERG  -  241 words
    • 262 18 AFP [BEIJING] China Southern Airlines, the country's top domestic carrier, could be set to place a US$2.4 billion order for 20 of Boeing's new 7E7 jets, state press reported yesterday. Boeing's new fuel-efficient jets could be delivered by 2008, when the Olympic
      AFP  -  262 words
    • 567 18 Unions oppose the proposal to scrap pension plans AP [CHICAGO! In a bitter split. United Airlines' creditors, along with some banks and unions, have joined the federal government in opposing a deal in which United would terminate its pilots' pension plan and offer the
      AP  -  567 words
    • 161 18 Reuters [DHAKA] State-owned Biman Bangladesh Airlines has issued a tender to buy three new 70-seat aircraft that will be either ATR *****s or Q4oos, a Biman spokesman said on Monday. The ATR 72 carriers are built by Avions de Transport Regional, a
      Reuters  -  161 words
    • 1857 18 city mam it* Fuar no Delhi $0407 0440 (C856 1145 Mllaldl LH9771 1855 AFMM 22SO IC8S7 1015 ***** 1620 SQ230 1855 BA7382 2250 SQ141 1145 S0142 0935 QF82 2250 SQ143 1535 SQ146 1640 Amstartaai SO323 0645 KL838 2330 ]HS KL837 1535 SQ324 2345 2230 SQ148 1900
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  • SHIPPING
    • 759 19  -  TSUNAMI AFTERMATH Too early to tell whether pirates became victims of killer waves By DONALD URQUHART [SINGAPORE] The once pi-racy-infested waters of the Aceh coastline have fallen quiet following the earthquake and tsunamis that obliterated much of the northern coast of Sumatra,
      AFP  -  759 words
    • 315 19 AP [ANCHORAGE, Alaska] Salvagers have begun removing oil from tanks on a freighter that broke apart last month off Alaska, spilling most of its estimated 442,000 gallons of fuel onto the shoreline. A salvage team on Monday used a heavy-lift helicopter to remove three
      AP  -  315 words
    • 386 19 Major destructions reported by shore establishments Anderimars Shipping News [LONDON] THF Indian Register of Shipping (IRS) says that its surveyors have been extremely busy in the aftermath of the devastating tsunami and the aftershocks, surveying ships and damage ashore, and manning the control station at
      Anderimars Shipping News  -  386 words
    • 310 19 SGX '000 JanS SS W- Vol CH Offshore 0 40 0.02 5558 ChuanHup 0.70 0.02 6286 Cosco Corporation 1.23 0.01 8878 CWT Distribution 0 66 unch 19 Ezra Hldgs 1.16 0.01 857 Freight Links 0.09 -0.01 1565 Grand Banks Yacht 1.01 unch 0 Java Holdings 1.03 0.01 309
      310 words
    • 311 19 Bloomberg [OSLO] Persian Gulf oil tanker rates may rebound after reaching a 14-month low on some routes as demand picks up following the Christmas and New Year's holidays, driven by rising consumption in China and the US. Freight rates for two million-barrel
      Bloomberg  -  311 words
  • Page 19 Advertisements
    • 29 19 I Get a _ii leading \Wfj Edge Your sailing schedules get wider attention in The Business Times shipping pages Call Joe Wong at 6319-2062 DC Busies 1MB Shipping times
      29 words

  • EDITORIAL & OPINION
    • 517 20 EDITORIAL IT is heartening to see that Singapore's stockbroking research has come under the scrutiny of at least one independent evaluation outfit, AQ Research. AQ's findings on the brokers that produce consistently good recommendations were published earlier this week in BT and from an investment
      517 words
    • 1182 20  -  Unlike traditional outsourcing. Public Private Partnerships involve the private sector in providing public services that require developing new physical infrastructure assets By MATTHEW LIM IN January 2003, Sing Spring (a subsidiary of Hyflux) won a contract to design, build, finance, operate and maintain a water desalination plant to
      FILE PHOTO  -  1,182 words
    • 116 20 'What they're saying now is that it's not funny money any more. It's symbolically important.' Sevket Pamuk, a professor of economics at Bosporus University, on Turkey's decision to eliminate the last six zeros on its currency 'It's the security premium rushing straight back into prices. Attacks in
      116 words
    • 740 20  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group IN America, we rarely declare "victory" over a problem. Once an issue becomes a target of collective concern, it stays on the political landscape, even if substantial progress occurs. Congressional committees, interest groups,
      The Washington Post Writers Group  -  740 words
    • 931 21  -  Investors may want to think twice before viewing hedge funds as a low-risk way to ride this region's growth wave WILLIAM PESEK JR Bloomberg HEDGE funds are suddenly the rage in Asia. It's an ironic turn of events in a region that just
      Bloomberg; REUTERS  -  931 words
    • 1029 21  -  By FELIX ROHATYN US President George Bush's trip to Europe next month has been billed as an effort to reach out to our European allies and restore some of the relationships fractured by the war in Iraq. But there is an even more
      1,029 words
    • 178 21  -  LETTER TO THE EDITOR Christina Tan Deputy Director (Communications), MAS I REFER to the letter "Do banks' HDB loans make mockery of MAS rules?" (BT, Dec 30, 2004). Banks and financial institutions are required to ensure that the total amount of
      178 words

  • Page 21 Miscellaneous
    • 213 21 CRYPTIC CROSSWORD DOWN 2 A light weapon beloved of story- lay refs trouble (3,6) YESTERDAY'S SOLUTION 3SS (3 'iL f 15 Sail r th blemish ke P l off the Across: 1 A lot on ones plate, 9 rum (9) Dauntless. 10 Put up, 11 Tie up, 12 curity measure
      213 words

  • 10899 22 STRAITS TIMES INDEX STOCKS Stodi mm WW at Q>n> «KkM» m Oom Qui Allgreen 50c 0.29 1.080 -0.010 NOL 2.07 j.970 +0.010 Bll mtl US20c 0.44 0.975 -0.010 OCBC 9.94 13.600 -0.100 CapitaLand 1.41 2.160 -0.010 Parkway H 25c 0.70 1.540 +0.020 Chart SemiCond 26c 0.71 0.955 -0.010
    10,899 words

  • 6476 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In loc»l can k tS In Mi tfy 1 )< N dy K yr V tfj %yr _£5£LZ Irnte* Change Oi»nq» CN«xp« Chary Ch«oq» Ch»nq» World Index Preliminary 8502 00 9; 01 80 06 11.5 t SAFE Preliminary 777 8 0 3 109
    6,476 words

  • Page 24 Advertisements
    • 1622 24 I IMPORT NORTH AMERICA AUSTRALIA/NEW ZEALAND I SUPER SHUTTLE EXPRESS (SSX) [AUSTRAI 'A ASIA EXPRESS (MX) I I T m I "I 1 I r^~ Izl I 1 |sr IslrlSlssbl^bbl [ASIA EAST COAST EXPRESS (AEX) J I NEW ZEALAND SOUTH EAST ASIA (NZAX) I VESSEL VOY SAV NOR NYC HLX
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    • 884 24 IINTfUASU KOKQ SWViq ypsa/voT miubi «ghtw m «n m sn jkt 1 STMnSVKmJK 01/05 IS 3.2 13/01 14/01 11/01 STUITS VENTURE 02/05 IS 3.2 20/01 23/01 27/01 30/01 01/02 SmiTS VtHTUKE 03/05 IS 3.2 03/02 05/02 10/02 13/02 01/03 IWIST ASIA/BENGAL KOtO IVS VKSa/YOY KAMfffT) HBOHTQ*) YOK KEE KHH WR
      884 words

  • Page 25 Advertisements
    • 931 25 MOi Combines (f a rang* of shipping modes to ensure timely, reliable services covering major ports in Norm America, Europe, Japan, Asia, Africa Oceania. Also wipt hire-Asia Cargoes to; BUSAN KWANGYANG SHANGHAI YANTIAN XUMBI QMGDAO lELAWAH JAKARTA SURABAYA KAOHSRJNG lAHGKOK LAIM CHAiANG HOOMMMH PASIR 6UDAW6 KMAHO PORT KELANC For Schedules,
      931 words
    • 1317 25 VESSEL VOY SIN PGU HCM HKG' KYH PUS VESSEL VOY SW PKG GOLDEN GATE SPIN 11/1 12/1 14/1 PERTH BRIDGE 071 A JEZ SZEIZ GOLDEN TRADE 50IN 18/1 19/1 21/1 NEW DYNAMIC 078 A TO/l 22/1 KUO LUNG mCM uJTnJT PtRTH BRIDGE 072 A 27/1 29/1 *VSI coding boiti No
      1,317 words
    • 959 25 si si WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VtSStl VOT SIN P.KLANG COLOMBO N. SHEVA COLOMBO INDIRA GANDHI QQB9W 04 JAN OMIT 08 JAN HUH WAD RAJIV GANDHI 0089W 10 JAW 12 JAN 15 JAN 18 JAN 21 JAW bay bridge JSJ*L JiJi!)
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  • Page 26 Advertisements
    • 780 26 WW WALLENIUS WILHELMSEN website: http://www.2wglobal.com YISSII "VQT 8 AMP HEIGHT SIN IK ~IAO~ HOW ~MIA S»V »Al ORE NYC HmT Mo> TARAGO AFSO2 3201 MS 6.4 M IS/01 ONUT IS/02 25/02 26/02 03/03 01/03 05/03 22/02 HXAS AFSO3 4201 MS 6.4 M 07/02 02/03 12/03 19/03 20/03 24/03 22/03 26/03
      780 words
    • 1299 26 vtssti vfii m mm jaaa m m mi csr 2301 oow 06/01 00/01 PACMrom S»1 o*/oi Q9/Q1 PAC HMD* WON 07/01 07/01 —II AIM M/Ql 10/01 PACOANDA 1379N 00/01 09/01 HHMtt 7 Mill UiflJ UflU PACOANOA I 1300N 09/01 PACHMTAM 921? 13/01 IS^EI csf 2301 sszfli 10/oi PAC PANDA IMIN
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 5241 27 This ETA ITA MmrBM WMMl Vsyaf* DWm ETA ETA V«mI »»»>»■ Til^w SM D*sf* fiinn Nam HaaSr mmm SM Dacfa Nmm num Mif BMBar linn rTiinimn niMiiiiiiwi ■> m ji.. wjyiuib^unawuujmmmmmmmmmmmmmmtmmmmmmmmmmv 1901 02/02 OwuShpg KOTA MUT1ARA MTR173 *****898 To ABIDIAN (ACQ 2003 Cota D'tvoira
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  • BizIT
    • 599 28  -  BT exclusive Device will allow the insurer's 700 life planners to electronically submit signed insurance forms on the spot, writes AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY THE use of tablet PCs has received a major boost in Singapore, with insurance major Great Eastern
      599 words
    • 486 28 AP [PHUKET] About 20 forensic teams from around the world are quickly learning to use a computer program that could help identify victims of last week's tsunami in seconds. With more than 200 forensic experts in Thailand rushing to identify thousands of bodies,
      AP  -  486 words
    • 360 28  -  By CAROLYN QUEK FOUNDERS of a newly formed local network of innovative infocomm technology companies have initiated discussions with their counterparts overseas with the aim of making the network regional. The Singapore APICTA Alumni, set up here two days ago for past participants and
      360 words
    • 54 28 AFP [SEOUL] Samsung Electronics said it had developed the world's largest organic light emitting diode (OLED) display panel for high-definition televisions. The 21-inch OLED panel outperforms existing liquid crystal displays in brightness, slimness and power efficiency, it said. Samsung said the OLED display features resolution of
      AFP  -  54 words
    • 312 28  -  CONSUMER ELECTRONICS SHOW, LAS VEGAS It is the second year in a row that S'pore will have a pavilion By MIT ROY CHOUDHURY SINGAPORE innovation will be on display at the International Consumer Electronics Show (CKS) in I,as Vegas from today. Among
      312 words
    • 341 28 Hitachi plans 500GB hard disk largest ever Reuters [LAS VFGASI Hitachi Ltd said on Tuesday it is seeking to push the limits of data storage with smaller stamp-sized disks for handheld gadgets and vastly higher-capacity drives that can store up to 100 films. Hitachi, the world's No 2 maker of
      Reuters  -  341 words
    • 432 28 Reuters [LAS VKGAS) Computer maker Hewlett-Packard is pushing aggressively into television sales this year as it rolls out full lines of TVs, projectors and home media servers, its CEO Carly Fiorina said on Tuesday. The computer, server, printer and camera
      Reuters; AFP  -  432 words

  • PROPERTY
    • 608 29  -  Vacancies are down to a three-year low of 11.1%, reports DAVID LEVITT DAVID LEVITT Bloomberg NEW York office rents are likely to rise this year after falling to a five-year low of U5539.47 a square foot at the end of 2004
      Bloomberg; AFP  -  608 words
    • 268 29 Xinhua [HONG KONG] The aborted listing of the Link real estate investment trust (Reit) is an isolated incident and will not affect the implementation of other privatisation plans by the government, a Hong Kong housing official said yesterday. Hong Kong Secretary for Housing,
      Xinhua; REUTERS  -  268 words
    • 121 29 Xinhua [HONG KONG]Hong Kong recorded 123,480 sale and purchase agreements for all types of building units for registration in 2004, up 41.4 per cent on 2003, the Hong Kong Land Registry said yesterday. Total consideration was HK5351.8 billion (5574.5 billion), up 85.7 per
      Xinhua  -  121 words
    • 275 30 CITY Developments Ltd has appointed Goh Ann Nee as its new chief financial officer from Jan 1. Before that, Ms Goh was vice-president (finance) at CityDev's hotel arm Millennium Copthorne International Ltd. She replaces Lucy Lim who has retired. Ms Goh, in her 40s,
      275 words
    • 652 30  -  The freehold 56.355 sq ft site along Yio Chu Kang Road is unlikely to be used for high rise developments By ANDREA TAN A COLLIFRS International auction next week is likely to draw the interest of larger developers, as one of the
      ARTHUR LEE  -  652 words
    • 1520 30 HSBC PROSCT NAME/ PROP CCWT5WCT TENURE BUCHMLAMD PWCE PSf STKfT NAME TYPE OWE AWVPQFQ (SSOOd gfl Districts NON-LANDED Aspen Ht Apt 28/10/04 999 1582 1315 831 Carnhil Crest Apt 09(11/04 FH 1119 1280 1143 Caimhill Crest Apt 21/10/04 FH 1119 1301
      1,520 words
  • Page 29 Advertisements
    • 512 29 Call toll-free 1800 289 8822 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF TRIBO S.E.A. PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) Extract of the minutes at the Extraordinary General Meeting of members of Tribo S E A Pte Ltd convened and held at Equity
      512 words
    • 214 29 6888 For Sale By Tender Collective Sale 1 Prime District 15 yS Tenure Freehold e < Site Area 2,605.85q.m. Plot Ratio 2-8 QIEm \v** (up to 24-storeys) miimy v Subject to STB approval Tender closes at 3pm on O 2nd Feb 2005 &J /o av X Sote Marketing Agent Hampden
      214 words
    • 72 29 Tw^rm Chong Siak Ching fuses her real estate expertise with sound business principles to stay ahead. A skill she acquired at the National University of Singapore. Her real estate and MBA training allows her to innovate, strategise and lead a billion-dollar company. By integrating real estate expertise with management best
      72 words
    • 128 29 MBA with specMsaflon in Real Estate In collaboration with Department of Real Estate SCHOOL OF DESIGN 6 ENVIRONMENT Program Highlights Ranked among top MBA programs in Asia-Pacific by Asia Inc Strong foundation in real estate practices and core management disciplines Acknowledged internationally as one of the top real estate departments
      128 words

  • Page 30 Advertisements
    • 129 30 I Got the right home? Now get the right home loan. jijjgyi jj fiii mnr. Buying a house in Singapore is a heavy investment. However, you can still have the freedom to live life the way you want, with HSBC home loans. Enjoy these benefits when you take up an
      129 words