The Business Times, 21 January 2005
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2005-01-21
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The Business Times
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Title Section15 2005-01-21 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://btJsiness-times.asial.com.sg MICA (P) 023/03/2004 Friday January 21,200515 words
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887 2005-01-21 1 S Jayasankaran, Larry Wet - By S Jayasankaran, Larry Wet in Singapore MAHATHIR Mohamad, architect of Malaysia's currency controls, has started tongues wagging about the possible demolition of the ringgit peg, but senior officials and analysts aren't banking on an immediate dismantling of the six-year-old fixed887 words
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Article136 2005-01-21 1 sn 2,***** (-12.00) ST INDEX FUTURES 2.089.00 (-1.00) siMsa 249.60 (-1.15) SIMSa FUTURES 249.90 (-0.50) MARKETS Thursday Change KLSECOMP 929.72 -5.81 NIKKEI 225 11.284.77 -120.57 HANG SENG 13.543.59 -135.04 SET INDEX 706,90 -2.13 JAKARTA COMP 1,035.75 +7J4 MANILA COMP 1,956.82 +9.93 SEOUL COMP ***** -6.90 SHENZHEN B 224.13136 words
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693 2005-01-21 1 KepLand may team up with Harrah's to submit casino/integrated resort concepts [SINGAPORE] Ending months of speculation, property giant Capita Land yesterday announced that it is teaming up with MGM Mirage and Kerzner International to submit concepts for both locations the Singapore government has identified for693 words
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Page 1 Advertisements
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Advertisement34 2005-01-21 1 THE ART OF GIVING Advice from well-known philanthropist Km in his own words r Don't miss BTs exdusive interview with Malaysia's former deputy prime minister in the weekend edition of The Business Times tomorrow34 words
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Advertisement26 2005-01-21 1 .m CORp ORATC GIFTS WPfcr M W m Pl|HPl*^^Bfcg^e^JllPB2^^BK^2Bl6B^Nh 1 1 '-J^ •>. 111 LIFELINE FORCAO Temasek to join in offer of USsloom cash injection: sources PG226 words
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Advertisement18 2005-01-21 1 §1 jk WOMAN POWER She ups the female quotient in the S'pore mt bankklg iDdustry PG3 8 RH18 words
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TOP STORIES
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500 2005-01-21 2 KENNETH LIM - CAO's parent and Temasek expected to put up a total of US$100m By KENNETH LIM [SINGAPORE] Temasek Holdings will offer a vital cash injection to crippled China Aviation Oil and the jet fuel trader's parent will put in more500 words
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642 2005-01-21 2 RONNIE LIM - By RONNIE LIM [SINGAPORE] Things don't look so bright on the bonus front for oil traders, after difficult market conditions in the final quarter of 2004 and the China Aviation Oil fiasco. "Certainly, 2004 bonuses won't be as high as an earlier-touted figure642 words
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411 2005-01-21 2 CHEN HUIFEN - By CHEN HUIFEN A MORE competitive industrial land rental market is needed as a way to continue to keep business costs down, according to Nominated Member of Parliament Lawrence Leow. Speaking in Parliament yesterday about strengthening the indigenous part of Singapore's economic411 words
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Article969 2005-01-21 2 Beijing seen revaluing yuan after Chinese New Year CHINA could revalue its yuan currency by as much as 5 per cent against the US dollar any time after the Chinese New Year in mid-February, according to a report by New York-based consultants Medley Global Advisors. Medley sent the969 words
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Article, Illustration752 2005-01-21 3 JOSEPHINE TAY - Lee Foundation chairman says he objects to setting up foundations solely for tax purposes By JOSEPHINE TAY [SlNGAPOßE] Tycoon Lee Seng Gee, who heads one of the most charitable bodies in Singapore, finds it more difficult to give money wisely thanFILE PHOTO - 752 words
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Article, Illustration687 2005-01-21 3 SIOW LI SEN - By SIOW LI SEN [SINGAPORE] When Catherine Weir Arrives here at the end of this month to heed Citigroup Singapore, she wifl double the number of women who heeds banks in Singapore. Keeping her company will be one other woman EuleenFILE PHOTOS - 687 words
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Article, Illustration766 2005-01-21 3 Reuters [LONDON] China could revalue its yuan currency by as much as 5 per cent against the US dollar any time after the Chinese New Year in mid-February, according to a report by New York-based consultants Medley Global Advisors. Medley sent theReuters; BLOOMBERG - 766 words
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Advertisement27 2005-01-21 2 I GOLF I HOUSE Sfc" 0 -Inude Sponnt Houtt Sum '•inuic Wh, Fo, Hon' (Garden Course) (Tmpmes CmatryQub tRBO A RSH (SINGAPORE) PTE LTD «S« UMITtS «.mM_27 words
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COMPANY NEWS
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Article, Illustration577 2005-01-21 4 JEAN CHUA - FINANCIAL RESULTS Surprise earnings plunge caused by acquisition impairment charge By JEAN CHUA CREATIVE Technology P shares, which surged a net $1.70 or 6.7 per cent in the first three days of this week, > gave up most of the gain577 words
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Article, Illustration674 2005-01-21 4 WONG WEI KONG - By WONG WEI KONG FOREIGN listings as well as Asian derivative contracts will continue to drive the earnings of Singapore Exchange (SGX) in the near term, even as it builds linkages with other exchanges for long-term growth. "In the near term, we are focusing674 words
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340 2005-01-21 4 JOYCE KOH - NEW DEALS By JOYCE KOH KEPPEL Integrated Engineering (KIE), the environmental engineering division of Keppel Corp, yesterday inked a 20-year agreement to supply NEWater to the Public Utilities Board, in a landmark deal that could open doors for more private companies to be340 words
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175 2005-01-21 4 MAINBOARD-LISTED China Dairy Group yesterday said its joint venture in Xinjiang province has started operations this month, opening up a major new source of raw milk supply for the company. The company said the additional source of raw material for its existing dairy production175 words
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337 2005-01-21 4 SINGAPORE Press Holdings (SPH) has struck a strategic partnership with a media group fti Thailand in yet another move to become a major magazine publisher in the region. The Singapore media group said yesterday that wholly owned SPH Magazines will acquire 9337 words
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Article106 2005-01-21 4 Bloomberg SEMBCORP Industries Ltd, South-east Asia's biggest civil engineering company, said that a unit has received a contract to design a £200 million (Ss6oo million) chemical plant in the UK. Singapore-based SembCorp Engineers and Constructors will design the factory for Huntsman Petrochemicals (UK) Ltd,Bloomberg - 106 words
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659 2005-01-21 4 WONG WEI KONG - HOCK LOCK SIEW By WONG WEI KONG FINE food, ambience and more tables do not make a sure recipe for good earnings. Just ask Tung Lok Restaurants. The group has not for the first time sunk into the red because it couldn't659 words
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529 2005-01-21 6 KENNETH LIM - IPO WATCH Part of $9m proceeds will be used for China, Viet expansion Reports by KENNETH LIM WHEN Ocean International executive chairman Zhang jsihua travels, he likes to go tb supermarkets to see if his oompany's frozen seafood products or fish fillets529 words
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236 2005-01-21 6 KARIN Technology, a Hong Kong-based electronic component distributor, has filed preliminary listing documents for a mainboard listing in Singapore with hopes of raising more than $8.9 million. Karin has been distributing and trading electronic components for the communication, computer, electrical, utility, watch and toy236 words
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COMPANY BRIEFS
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59 2005-01-21 6 ROBINSON Company said new CEO John Cheston officially joined the company yesterday. He replaces Peter Husum, who retired last October. Mr Cheston's appointment was first announced in November. The 37-year-old Brit has also been appointed to Robinson's board. Mr Cheston was formerly managing director59 words
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Article51 2005-01-21 6 Elec Eltek chairman resigns ELEC Eltek said Thomas Tang Koon Yiu yesterday resigned as chairman, managing director and executive director, with effect from Feb 3. Non-executive director Cheung Kwok Wing will succeed Mr Tang as chairman. Mr Cheung is an executive director of Kingboard Chemical Holdings and Kingboard Copper Foil51 words
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96 2005-01-21 6 UNITED Engineers' wholly-owned subsidiary, United Engineers (Singapore) Pte Ltd, has sold 73 million shares in Sesdaq-listed MFS Technology, as part of the parent company's ongoing efforts to streamline its shareholding in MFS. UEL sold the shares for $65 million, based on MFS's last-traded price96 words
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77 2005-01-21 6 DOOR manufacturer KLW has issued a profit warning for its full-year 2004 results, saying it will be "worse, compared to that of the first half'. It said the results, to be announced at the end of next month, has been affected by its disposal77 words
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Article67 2005-01-21 6 DBS Bank is issuing 15 million European-style call warrants on United Overseas Bank. Settlement for the warrants will be in cash and the issue price of each call warrant is 21.77 cents, with every five warrants initially relating to one underlying share. The warrants67 words
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Article36 2005-01-21 6 INFORMATICS is starting a Gaming and Animation programme in April. Students can earn an International Diploma or Advanced Diploma after going through courses in graphic, sound editing, 3D modelling, animation and game programming.36 words
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Advertisement208 2005-01-21 5 v M wss^ IH ft "k^BhpSSHßh®^b^B I^H Hffi jMni ififfii HnScS aKyb^--i .v4»W Tuns iua h, Jsk M <^S mdS6 (Sine. 17 rostouronts to chow® froin you ond your fomify will b© sooilt kv choicfi lo ca vnur rpimiAn inct enAnrl S$8&8 r? wwuiuiw yvi#i vcuniun* just spufiu lUNG lOK208 words
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Advertisement206 2005-01-21 6 MgKm, ar JM^HgHHfaflra^^H^H jr jp i>j f'*'^^g l ''.--n 7 £**^H|H^BMrc||^^^^^Hl s*H9Hp9B| Jfa'm^BHß Hf jKi ■f /jV mßmV^S^sSPTl^^HinßEflPl^^^lk.; !!^BHBBI •■•hlw fT BK 9^HHGHBS& JH .JBp Jf Jig *ig I Z co OCEAN INTERNATIONAL HOLDINGS LIMITED J (Incorporated in Singapore on 8 April 2003) (Company Registration Number *****3240W) Invitation in respect206 words
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Advertisement16 2005-01-21 7 I THE HEIGHT OF SAN FRANCISCO LIVING RESIDENCES I St. Regis SAN FRANCISCO ;i pg| |t16 words
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SINGAPORE MARKETS
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Article, Illustration519 2005-01-21 8 R SIVANITHY - STOCKS With the flood of price target upgrades, it's not surprising that Wall Street's weakness hasn't spilled over here yet R SIVANITHY Senior Corespondent CLEARLY, January 2005 is shaping up as an almost mirror-im-age of January 2004. The hectic rotational playing of small caps,Source: Bloomberg - 519 words
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Article, Illustration971 2005-01-21 8 JOYCE KOH - By JOYCE KOH HIGHER turnover seemed to have tittle impact on bottom line: Reve- half y«ar-o n .year te US$375 million, driven by strongei MP3 demand. Yet despite sales being US$5O minion higher than we projected in October, gross profit was similar to our original forecast This wasSource: Bloomberg - 971 words
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Article, Illustration543 2005-01-21 8 CURRENCIES Bloomberg [HONG KONG/TOKYO] The dollar rose to a two-month high against the euro and climbed versus the yen on indications that European and Japanese officials are reluctant to accept a fourth consecutive annual decline in the US currency. French Finance Minister Herve GaymardBloomberg; AFP - 543 words
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TRADES TO WATCH
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94 2005-01-21 8 TEMASEK Holdings' deemed stake in Frontline Technologies Corp was cut to 5.81 per cent from 6.62 per cent after a series of open-market sales by related units dating back to May 2003. Temasek, Singapore's investment company, is deemed to be interested in shares held by KI94 words
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62 2005-01-21 8 US fund manager The Capital Group Companies' deemed stake in Yellow Pages (Singapore) rose to 7.36 per cent from 5.02 per cent after 3.7 million shares were purchased on Tuesday this week. No pricing information was given. Shares of Yellow Pages, which publishes62 words
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Article141 2005-01-21 8 JUST two weeks after Soilbuild Group's debut listing, two executive directors have made open-market purchases of the company's shares. Leo Jee Lin, who is the wife of Soilbuild managing director Lim Chap Huat, bought 468,000 shares at 29.7 cents apiece yesterday and got her first direct141 words
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97 2005-01-21 8 VETERAN investor Wong Fong Fui bought another 130,000 shares in engineering group Boustead Singapore on Wednesday this week and raised his stake to 30.11 per cent from 30.06 per cent. Mr Wong, who is Boustead's chairman and group chief executive, bought the shares on97 words
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67 2005-01-21 8 KENNETH LIM - Compiled by KENNETH LIM THE director of a Singapore Technologies Engineering subsidiary sold his entire stake of27,462 shares in open-market transactions on Thursday last week. Tan See Heng sold the shares, which represent an insignificant proportion of ST Engineering's issued share capital, at about67 words
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Article, Illustration421 2005-01-21 8 OTHER SINGAPORE INDICES Jan 20 VALUE CLOSE BT OB/OS 381.00 -216.00 BTCAPI -*****.00 -98.00 BT 10-day MA -*****.00 +38.00 All-SG Equities 545.81 -1.53 SG Equities Elect 166.04 -2.92 SG Equities Fin 1627.39 -9.21 SG Equities Prop 531.98 -3.57 SIMSCI 249.60 -1.15 SiMSCI Futures 249.90 -0.50 MOST ACTIVE STOCKS VOLUME L&M421 words
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SINGAPORE NEWS
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350 2005-01-21 9 JEAN CHUA - Tourism board also wants to increase tourism receipts to $10.4b By JEAN CHUA IN line with its Tourism 2015 vision, Singapore Tourism Board is setting its sights on a new record for the number of visitors in a year as well as350 words
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Article, Illustration508 2005-01-21 9 KENNETH LIM - By KENNETH LIM SOCIETE Generale Asset Management's group chief executive Alain Clot is targeting double-digit growth for his group's non-Japan Asian assets under management this year as global funds start to correct the region's under-representa-tion in Western portfolios. "The centre of gravityARTHUR LEE - 508 words
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322 2005-01-21 9 Procedures are in place to bring trade data in line with other countries' INDONESIA remained Singapore's seventh-largest trading partner in 2004, when total trade between the two countries amounted to $30.1 billion, up 15 per cent, figures released yesterday show. This is only the322 words
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254 2005-01-21 9 LIZA LIN - By LIZA LIN THE Singapore government is scaling down its emergency relief assistance as the situation in Meulaboh, Aceh, stabilises and moves into the reconstruction phase. Except for three Chinook helicopters, the Singapore Armed Forces is bringing its personnel and assets254 words
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Article4242 2005-01-21 9 UNIT TRUSTS FUNDS Shenton Thrift! V16/ Shertoi income i 503/ ABN Amro Asset Mot (S pore) Jtwmon 0.921/ Star Europe Eqty!" 0 777/ SheiiUM! AsaPidficI ***** Star Europe Bond 1 262/ Jhemon Gib Opporwuees/"* 0.687/ Star Europe Sal. _1.10» Shwton Dynamic Bond/* 1.405/ Star Asian Tiger Eqty 0934/ China— 1205/4,242 words
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Advertisement14 2005-01-21 9 PIMCO Global Bond Fund rated 5-star by Mercer Investment Consulting Aiiianz(flj) Dresdner Asset Management14 words
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ECONOMY WATCH
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Article, Illustration708 2005-01-21 10 IIF says Asia is expected to capture about 46% of this year's total flows Reuters [WASHINGTON] Foreign investors sought out alternatives to US dollar assets in the final months of 2004 as the greenback fell, lifting net private capitalReuters; Photo: Reuters - 708 words
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Article, Illustration516 2005-01-21 10 Bloomberg [NEW YORK] Billionaire investor Warren Buffett, who has bet against the US dollar since 2002, says that the US trade gap will further weaken the currency. "Unless we have a major change in trade policies, I don't see how the dollar avoidsBloomberg; PHOTOS: BLOOMBERG. AP - 516 words
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217 2005-01-21 10 AFP [PARIS] Japan's economy will continue to face challenges, with a sharp appreciation of the yen posing a large risk to the current recovery as it hurts exports, the country's main driver, the OECD said yesterday. "The expansion is projected to continueAFP - 217 words
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387 2005-01-21 10 Bloomberg. AP [NEW YORK] A closely watched measure of future economic activity rose for a second consecutive month in December, pointing to sustained, gradual growth. The Conference Board, a private research group, yesterday said that its Index of Leading Economic IndicatorsBloomberg.; AP - 387 words
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428 2005-01-21 10 ANTHONY ROWLEY - It falls to its lowest level in 10 years, debt dips by 33% By ANTHONY ROWLEY in Tokyo JAPAN'S corporate bankruptcy rate fell to its lowest level in 10 years in 2004, helped by a combination of overall economic recovery, strong liquidity in the428 words
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483 2005-01-21 10 Bloomberg. AP [NEW YORK] The Federal Reserve's latest snapshot of economic activity showed that the US economy is moving solidly ahead. The economy expanded from late November through early January. The survey of business conditions around the United States also suggested that inflationBloomberg.; AP - 483 words
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MALAYSIA/INDONESIA
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Article, Illustration473 2005-01-21 11 It also plans to raise its 2005 budget deficit forecast to one per cent of GDP Reuters [JAKARTA] Indonesia's gross domestic product (GDP) is expected to have grown by around 5 per cent last year, the country's chief economic minister said yesterday.Reuters; AP - 473 words
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256 2005-01-21 11 Bloomberg [KUALA LUMPUR] Titan Chemicals Corp Bhd, Malaysia's biggest petrochemical company, said it secured a US$7OO million loan from five banks. The loan will enable Titan "to maximise opportunities in the petrochemical industry while providing financial stability over the long term," said ShayneBloomberg - 256 words
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Article2302 2005-01-21 11 Jan 20 BU ,.*2i FSBM 0.91 0.01 121 m f000) FTEC Resources 0.44 -0 02 527 c A»M Realty 1.37 unch 40 nBus0r 9 0.40 0.01 654; Abric._ .0.57 142 148 003 ACP Industries 1.16 18 5f mUd f r f 60 015 Advance Synergy 0.422,302 words
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116 2005-01-21 11 Bernama [PUTRAJAYA] The federal government has no intention to assume ownership of water resources in the states or to supplant the right of the state rulers in safeguarding this vital natural resource, said Prime Minister Abdullah Ahmad Badawi. "Water resources will remainBernama - 116 words
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Article, Illustration280 2005-01-21 11 Bloomberg, AP [JAKARTA] Indonesia's death toll from the Dec 26 earthquake and tsunami is more than 172,000. almost 50 per cent higher than the previous official count, according to the country's Home Affairs Ministry. In Aceh province, the estimated number of dead is estimated toBloomberg,; AP; AFP - 280 words
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Page 11 Advertisements
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Advertisement62 2005-01-21 11 H 4 fl A'-'1 ll|p I I I jfM ssj^i twltm w 9udV i j■ jv r ■Vwit Organlmor: Bponmormi A Eostern Publishing Pte Ltd *}*ylorMade <x3bcis j*fAJCSER (3 C s j N 1100 Lower Delta Road 0,IV »'<>•' #04-01 EPL Building n Singapore *****6 HHIMl tl(]H JrJ I SPORTS62 words
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GREATER CHINA/INDIA
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Article, Illustration850 2005-01-21 12 HK$7.9b deal gives buyer springboard for overseas expansion Bloomberg. AP, Reuters [HONG KONG] China Network Communications Group Corp, the nation's second-biggest fixed-line phone company, bought a stake in Hong Kong's dominant operator PCCW Ltd for HK$7.9 billion (Ssl.6 billion), gaining a partner for expansionBloomberg.; AP,; Reuters - 850 words
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321 2005-01-21 12 AFP SWISS giant Holcim, the world's No 2 cement maker, said yesterday that it would spend US$BOO million to buy two Indian cement firms and a holding company in its first foray into India. Holcim said that it plans to buy Associated CementAFP - 321 words
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Article163 2005-01-21 12 [NEW DELHI] India will adopt the Indo-Asean FTA criterion for Rules of Origin (ROO) for all the other trade pacts with Asian countries, including Thailand and Singapore, and the Commerce Ministry is expected to take a proposal in this regard to the federal cabinet163 words
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201 2005-01-21 12 Bloomberg [BEIJING] China National Petroleum Corp, the nation's biggtest oil company, had 50 per cent rise in 20OT profit to a record 110 billion yuan (5521.7 billion) because of increased demand and higher oil prices, the government said. Sales rose 16 per cent toBloomberg - 201 words
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NOTE BOOK
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79 2005-01-21 12 Reuters. [KUALA LUMPUR] Malaysia's state power utility Tenaga Nasional Bhd yesterday said it would not offer rebates to consumers affected by a blackout in four states last week. A company spokesman said Tenaga was only required by regulation to offer rebatesReuters. - 79 words
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175 2005-01-21 12 Bloomberg [MUMBAI] Satyam Computer Services, India's fourth-largest software company, said third-quarter profit rose 24 per cent as it gained more orders from existing customers and won new clients. Net income, including units, rose to 1.65 billion rupees (5561.8 million) in theBloomberg - 175 words
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121 2005-01-21 12 Bloomberg [MUMBAI] Tata Steel Ltd, India's second-biggest steelmaker, said third-quarter profit doubled as rising demand from construction companies and carmakers boosted sales. Net income rose to 8.91 billion rupees (*****.8 million), or 16 rupees a share, in the three monthsBloomberg - 121 words
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105 2005-01-21 12 Bloomberg [KUALA LUMPUR] Maxis Communications, Malaysia's biggest mobile-phone operator, plans to buy 51 per cent of Indonesia's PT Natrindo Telepon Seluler for US$lOO million, making its first overseas purchase as business slows at home. Natrindo, a cellular operator which operates under the LippoBloomberg - 105 words
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161 2005-01-21 12 AFP [NEW DELHI] India's gems and jewellery exports grew by nearly 38 per cent in 2004, the industry said in a statement. During January-December 2004, the total exports of the sector totalled US$l4.3 billion as compared to US$lO.3 billion the previousAFP - 161 words
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Article, Illustration126 2005-01-21 12 AP [LONDON] The European Union's 15-year-old arms embargo on China will probably be lifted within the next six months, the British government said. Foreign Secretary Jack Straw (below)said he expected the ban, imposed after Beijing's bloody 1989 crackdown on pro-democracy protestsAP - 126 words
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Article, Illustration445 2005-01-21 12 Reuters [SHANGHAI] China's shares fell 1.1 per cent to close at their lowest levels in more than five years, battered by top steel maker Baosteel's record domestic stock sale as well as Huadian Power's relatively low IPO price range. The benchmark ShanghaiReuters; Source: Bloomberg - 445 words
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Advertisement23 2005-01-21 12 UanheZaobaoH H B K I next investment I I venue for I I S'pore I I businesses? I I &TK3JH I I 123 words
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ASIA-PACIFIC/WORLD
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Article, Illustration932 2005-01-21 13 ANTHONY ROWLEY - ASIA INSIGHT US National Intelligence Council's attempt to 'map the global future' suffers from one-way pendulum syndrome ANTHONY ROWLEY Tokyo Correspondent SOME years ago, a play called "One-Way Pendulum" enjoyed a long run in London's West End. It was about the folly of taking logic to932 words
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Article, Illustration387 2005-01-21 13 change. Reuters, Bloomberg [NEW YORK] Citigroup's profit rose 12 per cent in the fourth quarter, helped by growth in its consumer and investment banking businesses. Net inco,iq& rose to U555.32 billion from USs4.76"' billion, or US$l.O2 per share from 91change. — Reuters, Bloomberg - 387 words
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Article, Illustration463 2005-01-21 13 AP, NYT [NEW YORK] Stan Lee, a cocreator of Spider-Man and legions of other Marvel Comics superheroes, landed a powerful blow of his own on Wednesday against the company. A federal judge in Manhattan ruled that Mr Lee is entitled to 10AP,; NYT - 463 words
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339 2005-01-21 13 ALEXANDRA HO - But growth for many economies is likely to slow By ALEXANDRA HO [SINGAPORE] The sovereign ratings of Asia-Pacific countries are generally positive, but dark clouds loom to throw them off course as GDP growth for many Asian economies is likely to slow, according to339 words
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307 2005-01-21 13 Reuters [NEW YORK] It's not often that a company becomes the world leader in its segment the very day of its debut on the US stock market. But that's what happened to Novelis Inc on Wednesday, its first day trading on the NewReuters - 307 words
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250 2005-01-21 13 Bloomberg [TOKYO] Sony Corp, the world's second-largest consumer electronics maker, cut its full-year operating profit and sales targets as prices of digital products fell. A tax gain prompted the company to raise its net income forecast. Operating profit will probably total 110 billionBloomberg - 250 words
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WORLD WATCH
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Article79 2005-01-21 13 AFP [FRANKFURT] European stock market regulators are concerned that a possible takeover of the London Stock Exchange by its Frankfurt rival Deutsche Boerse would make regulation in the sector more difficult, the Committee of European Securities Regulators said yesterday. "The more cross-border stock exchange mergers thereAFP - 79 words
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79 2005-01-21 13 Bloomberg [ZURICH] ÜBS AG, Europe's largest bank, agreed to buy a majority stake in the real estate funds unit of Germany's Siemens AG to expand its asset-management business. The purchase of a 51 per cent stake in the property division of Siemens KapitalanlagegesellschaftBloomberg - 79 words
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79 2005-01-21 13 Bloomberg [BERLIN] T-Mobile International, the wireless unit of Deutsche Telekom, plans to cut as many as 2,200j0bs in Europe by the end of next year as part of a plan to lower costs by one billion euros (Ss2.l billion) annually. The cuts, equivalentBloomberg - 79 words
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Article97 2005-01-21 13 Bloomberg [NEW YORK] AT&T Corp, the biggest US long-distance telephone carrier, said earnings rose for the first time in five quarters as costs fell and it won business and government clients. Fourth-quarter net income increased to US$625 million, or 78 cents a share, from US$34OBloomberg - 97 words
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AVIATION
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480 2005-01-21 14 Transpacific sector, related issues to be discussed at Singapore meeting Reuters, AP [SINGAPORE] The Australian government will consider a push by Singapore Airlines to gain access to the lucrative Sydney-Los Angeles route, while seeking more access for Australian airlines to Europe through hubsReuters,; AP - 480 words
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Article, Illustration573 2005-01-21 14 Aussie carrier expects to post record annual profit AFP, Bloomberg [SYDNEY] Qantas Airways yesterday eased market fears it was facing the same difficulties as rival Virgin Blue but angered unions by forecasting record profits as it tries to shift thousands of jobs out ofAFP,; Bloomberg; FILE PHOTO - 573 words
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199 2005-01-21 14 Reuters [FRANKFURT] Fraport plans to target working hours, pay structures and social benefits as part of a plan to reduce staff costs at the company, the Frankfurt airport operator said. The firm ruled out layoffs and pledged to maintain salary levelsReuters - 199 words
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Article1962 2005-01-21 14 "I* FU6HT HA FUCHT UP BA7381 1855 QF81 1855 Adiaide AF8087 1855 LH9770 2245 D «< h ***** 0440 IC856 1145 BA7381 1855 SQ229 2245 IC855 1015 A1481 1355 QF81 1855 AI480 1240 SQ408 1620 Ahnndlbld SQ461 1420 SQ462 0220 l>«»P»MrB«ll 5Q141 1145 SQ142 0935 AimtOfdam1,962 words
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Article, Illustration295 2005-01-21 14 ALEXANDRA HO - By ALEXANDRA HO [SINGAPORE] Tiger Airways is the latest airline falling over itself to get travellers back to the tsunamiravaged resort of Phuket. The airline announced that it will set aside 20,000 low fare seats from Singapore to Phuket at 59.98 each way. It startsREUTERS - 295 words
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601 2005-01-21 14 NYT [NEW YORK] Can things gel any worse for the United States airline industry? Yes, say the beleaguered chiei executives at American and Northwest Airlines, whose companies reported steep fourth-quarter losses on Wednesday. Even Southwest Airlines, which has been profitable sinceNYT - 601 words
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SHIPPING
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413 2005-01-21 15 DONALD URQUHART - Move to promote transhipments, public-private partnerships By DONALD URQUHART [SlNGAPOßE] India plans to pump US$lO billion into development of its container terminal facilities at ports across the country, as part of a new national maritime policy. The Shipping Ministry is in the process of413 words
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99 2005-01-21 15 Bloomberg [SEOUL] Hyundai Heavy Industries, the world's largest shipbuilder, said it received contracts worth US$l3.4 billion for building ships, engines, production platforms and other engineering products last year. About two thirds of the orders, or US$B.5 billion, were contracts for building ships, Hyundai HeavyBloomberg - 99 words
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Article293 2005-01-21 15 SGX '000 i—120 SS Vol CH Offshore 0.40 -0.01 497 ChuanHup 0.69 -0.01 SS7 Cosco Corporation 1.29 unch 5074 CWT Distribution 0.69 0.01 168 Ezra Hldgs 1.08 -0.03 296 Freight Links 0.10 0.01 188 Grand tanks Yacht 1.00 unch 410 JayaHeldbigi 1.07 0.04 3164 K1 Venture— 0.27 unch293 words
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344 2005-01-21 15 AFP. Bloomberg [SEOUL] North Korea approved an unprecedented search and rescue operation by South Korea's coastguards in its waters after a cargo ship sank off the communist country's east coast, officials said. The 2,862-tonne Pioneernaya, operated by Seoul-based Garim Shipping Co, wentAFP.; Bloomberg - 344 words
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165 2005-01-21 15 AFP [LONDON] Some 350 of the 1,752 passengers of a luxury ocean liner stranded in a southern England port for 10 days because of technical problems disembarked on Wednesday, a spokeswoman for PBtO Cruises said. The passengers had boarded the German-built P&O ship AuroraAFP - 165 words
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Article, Illustration64 2005-01-21 15 [CHICAGO] Ice floating in Burnham harbour in Chicago. Illinois, after being broken up by a tug boat and pumps to keep the harbour from freezing solid. Temperatures are expected to climb briefly above freezing point this week for the first time in several days. In Minnesota, the mercuryAFP - 64 words
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482 2005-01-21 15 Bloomberg [SINGAPORE] Neptune Orient Lines (NOL), Mitsui OSK Lines and 11 other shipping lines plan to raise rates on rubber items, canned food and other commodities shipped from the US to Asia on growing demand. The 13-member Westbound Transpacific Stabilisation Agreement isBloomberg - 482 words
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Article710 2005-01-21 15 SELVA KUMAR - ADMIRALTY CASEBOOK By SELVA KUMAR I THE phrase "sum insured" is not enough to make a marine insurance policy an "agreed value" policy under the UK's Marine Insurance Act 1906, the English Commercial Court ruled last week. According to the court, there must also be more710 words
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Advertisement42 2005-01-21 15 V JVM-J'MS*!. I MOTS ff «v i I y il GETA J_jyT7 Leading Edge Your sailing schedules get wider attention in The Business Times shipping pages Call Joe Wong at 6319-2062 Or Bernard Ong at 6319-1645 -.Tfc Buses Ties Shipping times I42 words
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EDITORIAL & OPINION
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Article501 2005-01-21 16 EDITORIAL IF events over the past week provided any reliable clues about financial market headlines over the coming months, then it's clear that China's yuan moves or lack thereof will continue to feature prominently. Speculation about a stronger yuan has already seen Asian currencies like the Japanese501 words
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Article, Illustration908 2005-01-21 16 PAUL SAMUELSON - The poor condition of geopolitics evokes escapist denial in order to not fall into paranoia PAUL SAMUELSON Tribune Media Services TEACHERS habitually award A, B, C, D or F grades when they test performance. An excellent math exam with few errors commands an A. And ofTribune Media Services; REUTERS - 908 words
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Article, Illustration787 2005-01-21 16 ROBERT SAMUELSON - THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group EVERYONE is going to play numbers games to judge George W Bush's next economic policies. Top of the list will be Mr Bush's pledge to cut the budget deficit in half byThe Washington Post Writers Group - 787 words
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Article81 2005-01-21 16 'Is it written by God, (Jan) 30th? It is a political decision. I don't understand why the Americans don't understand that.' Aiham Alsammarae, a Sunni and Iraq's electricity minister in the interim government, who favours delaying the voting, even though he is running on the Independent Democrats81 words
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Article, Illustration1534 2005-01-21 17 MATTHEW R MILLER - Makeover of the system was modelled on US Fed but China's collective decision-making means economic moves are harder to anticipate By MATTHEW R MILLER Bloomberg WHEN China's top policy makers set out to streamline the country's 57-year-old central bank system six years ago, they choseBloomberg; AP, BLOOMBERG - 1,534 words
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Article, Illustration762 2005-01-21 17 CARLOS H CONDE - By CARLOS H CONDE IHT [MANILA] When Joseph Estrada went to Hong Kong recently for knee surgery, he brought along with him his barber, stayed in an upscale apartment, and, for 19 days, enjoyed the luxury of which a disgraced president who is supposedIHT - 762 words
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212 2005-01-21 17 Han Kok Juan - LETTERS TO THE EDITOR Han Kok Juan Director (social security programmes) Ministry of Finance 1 REFER to the article, "Tax and the spirit of giving" by Ernst Young (BT, Jan 12). The article said that all income of a charity, including donations but212 words
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Page 17 Advertisements
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Advertisement103 2005-01-21 17 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel103 words
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Article11223 2005-01-21 18 STRAITS TIMES INDEX STOCKS Stodi imw Wt Pom Chang* Stock mw W dm Q—» Allgreen 50c 0.31 1.140 -0.010 NOL 2.17 3.120 8IL Intl US20t 0.49 1.090 -0.030 OCBC 9.91 13.700 -0.100 CapctaLand 1.39 2.140 -0.020 Parkway H 25c 0.70 1.550 +0.010 Chart SemiCond 26c 0.71 0.960 -0.02511,223 words
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Article5850 2005-01-21 19 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In locai curr In S$ In USS *dy *yr Jan 19 Index Change Change Change Change Change Change Worid lnd« Prafcninatv 845.1-02 8.5 -03 6i1 -0.1 105 tEAFE Preliminary 774.1 0.0 10.4 0.0 10.2 02 14.8 Europe Pwfcninav ***** (LP 10.2 0.0 10.15,850 words
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Advertisement1587 2005-01-21 20 I TO USA/CANADA I I EXPORT I I OTHER DESTINATIONS I |ygsa |VOT PEG ETA SIN LONG RMO<| DALLAS HOUSTON MEMfHK jCHKAGOj NEW YOH TO AUSTRALIA (AUSTRALIA ASIA EXPRESS) OOQ ROTTERDAM ***** OMR 24/01 I 11/02 17/02 18/02 14/02 1«/D2 H/02 VOT ETAS«I WC F»t m STB Mtt ADt OOQNINGBO1,587 words
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Advertisement903 2005-01-21 20 IINTCKASIA RORO HKVICI vesa/vot vrnxt) hbgwtw wc km u» I I IT I STIAfTS Vf KTlrtf 02/05 IS Ji 20/01 23/01 27/01 30/01 01/02 STRAm VENTURE 03/DS 15 3.2 03/02 05/02 10/02 13/02 15/02 Ismfrsvumitt 04/05 is 12 17/02 it/02 24/02 27/02 01/03 IWIST ASIA/MNOAL RORO SVS vcsa/vor uantp hbghtq903 words
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Advertisement833 2005-01-21 21 MOi Cofnbinoi v. a rang* of shipping modes to ensure timely, rotable services covering major portskT Norm America, Europe, Japan, Asia, Africa Oceania. Abe eccapt tare-Ash Ceyn tr sssl For Schedules, BL Searches, and Container Tracking, visit on our Home Page: www.mol»i'n.co*T».«g www.homburgsuj.com m «*nn nam hh itsi man *»v«833 words
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Advertisement1193 2005-01-21 21 »0Y SIN JKT HKG I KHH IWC KYH PUS VESSEL VOY SIN JKT SUB HKG USN PUS HYPtOGKESS 090S 26/1 27/1 29/1 3/2 5/2 7/2 »/2 KMTC SPOKE 502S 30/1 2/2 3/2 8/2 12/1 13/1 HYIIID6E QMS 2/2 3/2 5/2 10/2 12/2 14/2 It/2 KMTC SHANGHAI SO2S 6/2 9/2 10/21,193 words
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Advertisement195 2005-01-21 21 Qemartrans (8) Pte Ltd GEMARTRANS OPERATOR COOE <OT CR NO; IBM7MOOOOR V"" FOR BOOKINGS: THj FAX: SNQAPORE *****662/*****602 *****081/*****110 KUALA LUMPUR (03)*****888 (03)*****108 3 SAILINGS WEEK TO HCM VESSEL VOY I SM HCM UUIM HIM 24/01 27/01 CAPE CHARIiS 03SE 24/01 27/01 GEMARTRANS PtOWEER 26N 25/01 21/01 KUOLUNG 004E 2S/01195 words
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Advertisement905 2005-01-21 21 I# WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOY SIN P.KLANG COLOMBO N. SHEVA COLOMBO MJUB 005W 171 AM 19JAN 23 JAW 26 iAW 29 JAW PACIfIC QUEST 0003W 24 JAN 26 JAN 29 JAN 01 FE» 04 FEI MB mm HMKlimiLJllfa 05fEi905 words
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Advertisement646 2005-01-21 22 WW WALLENIUS WILHELMSEN I website: http://wYyw.2wglobol.com VESSEL I VQT I RAMP I HEIGHT I SIN lIK MAO I HOU# MIA SAY BAI MIW MQB TEXAS AFSO3 4201 MS 6.4 M I 08/02 OMITS 10/03 17/03 18/03 22/03 20/03 24/03 14/03 TAMERUNE AFSO4 3201 dm 6.4 M I 15/02 10/03 20/03646 words
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Advertisement1108 2005-01-21 22 VKSfI M 2H rcu VBM VQT m jit r "paHSda IWM si/oi MS? g? 2tZHJ w/oi PA{|ANPA lJSffl 24/01 27/01 PACIMTAM 9214 27/01 29/01 JACUMDA 1393N 21/01 21/01 PAC™ 41S1 29/01 31/g] -MiMBA usa rm M/QI *umj*TA2 nu 01/02 03/02 PAt lAHPA liliM M/fi] 31/01 PACIAMDA 1396N 01/02 otTo? PACI1,108 words
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Advertisement595 2005-01-21 22 MYANMA FIVE STAR LINE (Mymwar National Um) Loading far Yang or Vissa VOY SIN PKI PEN PGU PAGAN 341W 31/01 SU) HPA-AN 330W SU) IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****388 PIN: 04-*****1S ACCEPTING CONVENTIONAL CBO H>G SM HKG SIN PGU PKI KUC OCEANIA OUEEN 129 SU) 27/0) 21/01 31/01595 words
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Advertisement632 2005-01-21 23 HE* T~, ~p. 1 crnterasia uimuufii F«lSm433 *■*»!>«: »««.!■>« n»m««i.c-1 Hf skshs ia as asas e ggr 1 «|~Mr £K XSS S ,v 8S ,w S™i_ms£SJSs.SSmSs« Aft Mw IH "I "4t HH >GD 1,1 0;l h ilk St ofe "151 »T; 1 To; I orw ijp SaMBOWT SMHS4S Ml Jl/Jl632 words
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Advertisement960 2005-01-21 23 I y-j-i lIVICO WA*I: TU: 6221-1333 Wh 6221-5272 I jLiL Mll/ LlnlCO CUSIOIWSBVW: TIL 6221-5506 FAX: *****190 I /cZZJ^^G^fcT^^swrmc fTTLIT) V^www-Hil^i vssaW ibml" w wr asw ImmU/»1 1 B/01 117/11 U—i« 5005 26/11 03/02 |«SWH 5005 27/01 W/01. TMWOHSM VIM 25/01 01/02 1 ILwmut Ismlis/n 1 os/w lii/ii' IWUMI3 *****960 words
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Advertisement430 2005-01-21 23 HRHViM TIG{C SU 2S3N 27 28/01 01-03/02 08-09/02 Bjajßlfl TIGER WAVE 2S4N 29 30/01 04-06/02 12-13/02 I TTmW TICK Kill 255K 01-02/02 08-10/02 15-16/02 I ■■■■■TIGgiSXY 2S6N 06-07/02 12-14/02 20 21 02 1 TIGER StA 257N 08-09/02 15-17/02 22 23/02 BMMMII TIGER (SEEK 007 28 28/01 04-06 '02 ISI6 '0:|430 words
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THE BUSINESS TIMES SHIPPING TIMES
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6000 2005-01-21 24 This tfA MW*> M»M n* ITA XJ.-JJLU M JJJJJ 'SZmT Cf y_,., 0 *f.*^-?sy-- r T -i 2901 1M2 CMACGM MONTE OUVIA SC055W *****X0 x* lb ABIDJAN (ABA 3003 Cote DTvoIre mi 21/02 Onshpg cmacgmkalamata sxi03w ******9* 31/ 28(01 0703 CMaStag ROTA BAM 0RN5C76,000 words
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BOOKS
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Article, Illustration1217 2005-01-21 25 PARVATHI NAYAR - Too busy to trek to the bookshops to find out what's new on the shelves? Starting today, we kick off a monthly round-up of what's new and what's hot in the literary scene. PARVATHI NAYAR checks out the new arrivals for this month PARVATHI NAYAR WHAT'S hittingARTHUR LEE - 1,217 words
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Article, Illustration1023 2005-01-21 25 Small Island. By Andrea Levy "SEE here, Queenie. Look around," a father tells his daughter in the opening pages of Small Island ($16.80). "You've got the whole world at your feet, lass." The words could apply as well to the book's author, Andrea Levy currently the talk of the1,023 words
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PROFILE/ARTS
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Article, Illustration627 2005-01-21 26 CHEAH UI-HOON - David Leung tells CHEAH UI-HOON why he is so passionate about these fine pens CHEAH UI-HOON SOMETIMES, something you lose can lead you to find a better substitute, and a new collecting hobby. That, admittedly, isn't a great attempt at penning an elegant hokkuCHRIS LOH - 627 words
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Article411 2005-01-21 26 FOO CHEN LOONG - By FOO CHEN LOONG THE second Stars of Asia concert for 2005 with the Singapore Symphony Orchestra (SSO) offered a true cross-cultural experience through two key works by Chen Yi and Dvorak. Interestingly, each work had a distinctively nationalistic flavour, despite being commissioned by a411 words
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Article, Illustration356 2005-01-21 26 CHEAH UI-HOON - By CHEAH UI-HOON FANS of Taiwanese cartoonist Jimmy Liao's works got a larger-than-life glimpse of his whimsical illustrations last weekend, when his story about a blind girl in a subway was poetically brought to the stage. If Liao's artworks made for a charming picture356 words
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Page 26 Advertisements
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Advertisement341 2005-01-21 26 Wines for all Occasions j Budgets Shop now for your Corporate Dinners, Lunar New Year, Weddings or for personal enjoyment. ttO? 02 Tnnglin Shopping Centre T. h 7 i7t?l i 9H/')Pn99 9 /hH ?1 /O Where to wine, dine and entertain... tJM wwwuMnergxomjg (J®£fe2£& mm mbtlil mama* *1I M Si341 words
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Advertisement105 2005-01-21 26 "I MERI T U S MANDARIN SINGA 1> O R i The Finesse of 'Gourmet Bordeaux' 3-21 November 2004 Be enraptured by Guest Had 12.00 mm loDOpm Chef Jean Jacques $M* par person (Mo. -ft# Dugardin's refreshing of ham qwrnto—> interpretations of traditional Bordeaux j& specialues >nd the II region105 words
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Page 26 Miscellaneous
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Miscellaneous260 2005-01-21 26 CRYPTIC CROSSWORD 18 Lizard had short time by Scot--20 MusSnf that were good M M M M W* M without you, say, I concluded ■Bps 23 Norma made complicated 24 Got up in the garden? (4) 55-fl H W—-BLHL- t 26 NMapteasant-soundingbot- rill BP I I II 1 M M260 words
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CINEMA
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Article, Illustration435 2005-01-21 27 GEOFFREY EU - By GEOFFREY EU HOTEL Rwandtitijil&Q harrowing real life account of how the humble auHbane manager of a IttSWy hotel risks de«fo on a daflyMsSs by turning his wlinUprtinnt into a life-saving sanctuary a tiny oasis of humanity in a world gone suddenly435 words
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Article, Illustration396 2005-01-21 27 PARVATHI NAYAR - By PARVATHI NAYAR IT'S hard not to wax eloquent about how fabulous Jennifer Garner looks as Elektra. Sultry in electric red, she has the arrogant catwalk strut down pat, long hair that's periodically blown by obliging winds, a morose little moue and lethal396 words
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Article, Illustration1022 2005-01-21 27 PARVATHI NAYAR - Big names in cinema like Quentin Tarantino, Guy Richie and Baz Luhrman have attended Dov S-S Simens' film-making workshop. PARVATHI NAYAR finds out what can be expected from his sessions this weekend PARVATHI NAYAR #Jf ERE'S a secret," says USf I I based film instructor Dov1,022 words
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366 2005-01-21 27 GEOFFREY EU - By GEOFFREY EU "A STRAIGHT man who dances and wears sequins walks a very lonely road," says a character in Shall We Dance?, which is based on the feel-good Japanese movie of the same name. John Clark (Richard Gere) doesn't wear366 words
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Advertisement267 2005-01-21 27 >s -Bastr* H Ban* wound ttrough meeercb. Ffv g) BOSE LIFESTYLE* 5 HOME ENTERTAINMENT SYSTEMS ■S i It listens. It learns. It adapts, i L i a nf?. Bose Lifestyle* 48 Jewel Cubes P£j rMwjBDVD Home Entertainment System L j J.,._ I k Bose Lifestyle* 38 f~ ,t DVD Home267 words
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executive lifestyle
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Article606 2005-01-21 28 jaime ee - off the cuff jaime ee IHAVE become a paranoid driver. This morning, I braked hard before an overhead bridge on the off-chance that a traffic policeman might be hiding amid the bougainvillea. No. Oddly enough, it was a cyclist possibly another paranoid ex-driver who decided606 words
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Article, Illustration1165 2005-01-21 28 It's that time of the year to thank business associates. CHEAH UI-HOON and PEPPER LEE look at the latest trends in Chinese New Year hampers IN the next couple of weeks, you may be the happy recipient of a Chinese New Year hamper—a towering cardboard tribute for1,165 words
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Page 28 Advertisements
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Advertisement7 2005-01-21 28 ■BOOKS Book 'em in January. PG 257 words
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