The Business Times, 27 January 2005

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Total Pages: 32
1 32 The Business Times
  • 17 1 THE BUSINESS TIMES siNGftrtniiii air online at http://business-times.asia 1 .com. sg MICA (P) 023/03/2004 Thursday, January 27,2005
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  • 861 1  -  Some companies are hoping for tax incentives to help their businesses abroad By ALEXANDRA HO [SINGAPORE] The big day may still be about three weeks away, but some businesses have already drawn up their Budget wish-lists. Association of Small and
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  • 434 1  - Sons of Ryanair founder come in for a landing at The Sail BT exclusive By KALPANA RASHIWALA [SINGAPORE] Two scions of Tony Ryan, the founder of Irish budget airline Ryanair, have bought an entire floor of The Sail@Marina Bay for about $9.4 million or $922 per square foot, sources told
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  • 137 1 ST! 2,086.93 (+2122) ST INDEX FUTURES (unch) SIMSCI 250.21 (+2.03) SIMSCI FUTURES 249.80 (+0.50) MARKETS Wednesday Change KLSE COMP 923.27 +3.62 NIKKEI 225 11,376.57 +99.66 HANG SENG 13,623.68 +39.62 SET INDEX 702.66 +0.52 JAKARTA COMP 1,037.51 +10.62 MANILA COMP 1,970.28 -20.01 SEOUL COMP 927.00 +11.90 SHENZHEN B *****
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  • Page 1 Advertisements
    • 14 1 HOTEL POSER jfi Did HK tycoon overpay for Bras Basah hotel site? pg 30
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    • 9 1 SQUEEZING OUT PROFITS Contract manufacturers go lean PGI7 8
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    • 64 1 MEDISHIELD REFORM Y^WM plus reaction PG4 Distinctive and dazzling character... w V iM Radiant, intriguing and unashamedly feminine. The creativity of precious jewellery combined with the perfection of fine watchmaking. The epitome of style, elegance and true character tJaeger-leCoultre> Fof your free copy of the Manufacture's Book of Timepieces, please
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    • 44 1 TURNING THE CORNER Local office property market gets a boost PG32 BIGGER PROFITS SIA Q3 earnings up 26%, pg 2 Osim 2004 earnings up 31.8%, pg 9 Keppel Land up 32.5%, pg 9 Singapore Petroleum up 328%, pg 9 Singapore Food Industries up 13.7%,
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  • TOP STORIES
    • 580 2 Move to allow infrastructure sharing may hit Star Hub SINGAPORE'S move to allow the telco regulator to order telcos to share infrastructure for broadcasting services could entice new players including global broadcasters to set up shop here but its success could hit Star Hub hard depending on rival
      580 words
    • 632 2  -  Driving revision is 31.7% surge in Dec manufacturing output By DANIEL BUENAS [SINGAPORE] Economists are raising their 2004 growth forecasts after Singapore's manufacturing output shot up more than 30 per cent in December. Preliminary figures released by the Economic Development Board yesterday show
      BLOOMBERG; Source: EDB  -  632 words
    • 659 2  -  By VEN SREENIVASAN [SINGAPORE] Singapore Airlines has reported a bet-ter-than-expected 26 per cent rise in net earnings to $476 million for its third quarter ended Dec 31, 2004, fuelled by a 16 per cent rise in revenue to a record $3.2 billion.
      659 words
    • 877 4  -  CHANGES TO MEDISHIELD The new scheme will foot a larger portion of your medical bills By GENEVIEVE CUA [SINGAPORE] The new MediShield will charge higher premiums and higher deductibles, but will foot substantially more of your hospital bill. Releasing details yesterday, Health Minister Khaw
      877 words
    • 311 4  -  Private insurance still needed for full coverage, say some By BDALENA LEE, JOSEPHINE TAY [SINGAPORE] According to a BT street poll of 50 people along Orchard Road and in Raffles Place yesterday, many welcome the MediShield reform. In fact, some feel that
      311 words
  • Page 2 Advertisements
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      630 words
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  • Page 3 Advertisements
    • 341 3 Congratulations on the Grand Opening of New Premises ilr"* s Ifcte*. I^~ W r n Officiated by our Guest-of-Honour 1 Mr Heng Chee How Minister of State, Ministry of Trade Industry on 27 January 2005. I i>r>9«<a}f rod trnt I'trt aHI congratulate Seacare Maritime Medical Centre (SMMC) on the opening
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  • Page 4 Advertisements
    • 173 4 Vorsprung durch Technik www.audl.com.sg Sfe- 4/ 4/ i i^^|>|P' r g**^p4=_^4^ «3 BBi ■H ftf* The Audi A 4 2.0 has always been a head turner. Now starting from $119,500*, it may stop hearts. 4f_' _,;y/ Celebrate a Prosperous Chinese New Year with this Exclusive Promotion. Experience performance and style
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  • Page 5 Advertisements
    • 164 5 Panalpina celebrates our International Headquarters Award with our business partners! vIfIpI .<; I 1 irT l*,'±M El—d*fc— iT^yndr m n'TP>4*^ ,JwA 4 This International Headquarters Award signifies another milestone in Singapore's growing importance to our organization. Since 1977, Panalpina has been committed to Singapore as we continuously grow with our
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  • COMPANY NEWS
    • 615 6  -  A new Singapore move may spark broadcasting rivalry among telcos By ANGELA TAN SINGAPORE'S move to allow the telco regulator to order telcos to share infrastructure for broadcasting services could entice new players including global broadcasters to set up shop here. And how the move
      615 words
    • 363 6  -  By SIOW LI SEN OCBC Bank's first hybrid share issue will pay 3.93 per cent per annum dividend, the bank said yesterday. In a statement, OCBC said it will raise $400 million from a hybrid issue of preference shares, from a
      363 words
    • 706 6  -  HOCK LOCK SIEW By ANGELA TAN THE FYO4 results of Singapore's second mobile operator Mobile One (Ml) came in largely within expectations. But what caught analysts by surprise last week was chief executive officer Neil Montefiore's upbeat guidance of a "low single-digit" net
      BLOOMBERG  -  706 words
    • 352 7  -  They will jointly develop a common chip platform By RAJU CHELLAM SINGAPORK'S Chartered Semiconductor Manufacturing and the world's largest IT company, IBM Corp, have extended their existing agreement to 2008 to jointly work on next-gener-ation chips based on 45nm (nanometre) technology. The deal
      352 words
    • 273 7  -  By MICHELLE QUAH GLOBAL beverage giant The Coca-Cola Company has renewed its bottler's and distributor's agreement with Malaysia's F&NCC Beverages Sdn Bhd and F&N Coca-Cola (M) Sdn Bhd, furthering the Malaysian companies' efforts to leverage on The Coca-Cola Company's marketing and brand expertise. The
      273 words
    • 406 7  -  By KENNETH LIM THE Corrupt Practices Investigation Bureau said it has been investigating allegations concerning some Citiraya Industries employees since Thursday night last week, but declined to elaborate on the nature of its inquiry. "At this point in time, it's still early stages
      406 words
    • COMPANY BRIEFS
      • 48 7 OVKRSKA-CHINKSH Banking Corp has appointed independent non-executive director Neo Boon Siong as a member of its audit committee. Also on the panel are audit committee chairman Michael Wong Pakshong and David Wong. Mr Neo was appointed to the board of OCBC this year.
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      • 66 7 SINOMKM Technology has appointed a new chief technology officer, effective from yesterday. Li Jianke, 42, will be in charge of research and development, product development and manufacturing activities. Mr l.i was a section manager and senior engineer with Merck Company from 1991 to 2004. He
        66 words
      • 68 7 SINGAPORF Telecommunications said its indirect subsidiary NCSI Holdings has incorporated a wholly-owned subsidiary in Sri Lanka. The new entity, called NCSI Lanka Pte Ltd, has an authorised share capital of 50 million Sri Lankan rupees (S$830,000) and a subscribed share capital of about
        68 words
      • 48 7 DATACRAFT Asia said it has been granted an extension of deadline for the announcement of its second-quarter results ending March 2005. It will be releasing its Q2 statements by May 18, instead of May 15 as required under Huh; 705(2b) of the listing manual.
        48 words
      • 29 7 IT solutions provider North 22 Technology Services Group has appointed She Yi Mou as its executive director and deputy chairman with effect from yesterday.
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  • Page 6 Advertisements
    • 572 6 -I ui M The HP Systems Insight Manager (HP SIM) comes bundled with these HP ProLiant servers. And now it will be installed for free as well*. So you will have an invaluable assistant that delivers unique, powerful and visible results by monitoring system faults, assets, security and configuration across
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  • Page 7 Advertisements
    • 226 7 Now you can enjoy exclusive Thai hospitality for less. Fly to selected destinations in Asia and Europe in our renowned Royal Executive Class at lower than usual rates. Royal Orchid Plus members will continue to earn full miles that count towards Silver or Gold status requirements. It's truly value that
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  • SINGAPORE MARKETS
    • 551 8  -  STOCKS Boost for S'pore shares as Wall Street surges after release of better-than-expected consumer confidence data R SIVANITHY Senior Correspondent JJA T the height of the 11 Internet bubble four K years ago when m Nasdaq's rises and falls drove stock mMBHA markets around
      Source: Bloomberg  -  551 words
    • Article, Illustration
      911 8  -  Compiled by JOYCE KOH KS Tech Ltd Jan 26 dose $1.07 (+8 cents) MULUP SECURITIES, Jan 26 KS TECH hai.propoMd to change its name to KS Energy Services Limited to better reflect its core business. In addition, the company proposed placement of 10 million new shares to two
      Source: Bloomberg  -  911 words
    • 514 8  -  CURRENCIES LARRY WEE Senior Correspondent AN impressive US January consumer confidence number helped both Wall Street and the US dollar to recover in overnight trading, although Asian units and the highyielding Antipodean pair continued to be relatively resilient. For example, the US unit's overnight gains on
      Source: Reuters  -  514 words
    • TRADES TO WATCH
      • 160 8 CHINA Flexible Packaging Holdings executive chairman Chong Yuen and his sister, Zhuang Shaochun, placed out 43 million shares or a 9.97 per cent stake to "global institutional investors" yesterday at 82 cents per share, a 1.8 per cent discount to the stock's closing price of
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      • 168 8 PROMINENT investors Tommie Goh and Gay Chee Cheong of investment firm 2G Capital bought shares of Junma Tyre Cord Co yesterday as the stock dived 14.2 per cent or eight cents to a close of 48.5 cents amid a warning of "significantly lower profit"
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      • 69 8 INVESTMENT firm Newton Investment Management bought 2.9 million shares of commodities trader Noble Group last week, raising its shareholding to 5.89 per cent from 5.8 per cent. No pricing details were disclosed. Newton first bought 1 million shares on Jan 17, then the remaining 1.9
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      • 105 8  -  Compiled by KENNETH LIM FORMER Hartford Holdings non-executive director Kassandra Lim Mee Liang is no longer a substantial shareholder of the education services provider after she sold 10,000 shares on the open market on Monday. Pricing information was not given. With her stake pared to
        105 words
    • Article, Illustration
      418 8 OTHER SINGAPORE INDICES Jan 26 VALUE CLOSE BT OB/OS -19.00 +24.00 BTCADt -*****.00 +61.00 BT 10-day MA -*****.00 -1.00 AH-SG Equities 545.50 +4.54 SG Equities Elect 158.92 +0.20 SG Equities Fin 1633.61 +11.83 SGiEquities Prop 533.04 +1.63 SIMSCI 250.21 +2.03 SiMSCI Futures 249.80 +0.50 MOST ACTIVE STOCKS VOLUME CDWUS2C 135.237.000
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  • COMPANY NEWS
    • 454 9  -  FINANCIAL RESULTS Company surprises with 32% growth in 2004 earnings By KENNETH LIM OSIM International still wants a majority stake in nutritional supplements retailer Global Active and will buy from the market if needed, said Osim founder Ron Sim as his company unveiled a
      454 words
    • 263 9  -  By CAROLYN QUEK SINGAPORE Food Industries (SFI), which yesterday reported a 13.7 per cent year-on-year growth in fullyear net profit to $35 million, is poised to increase its UK market's profit contribution from 30 to 50 per cent in two years. "We recognise
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    • 450 9  -  Shareholders will see record dividend By RONNIE LIM BUOYED by high oil prices and strong regional demand, Singapore Petroleum Company enjoyed "a tremendously successful year in 2004," racking up record sales and earnings, said chairman Choo Chiau Beng. Net earnings for
      450 words
    • 418 9  -  By ANDREA TAN THE time for Keppel Land to spin off its office properties into a real estate investment trust (Reit) is drawing near, managing director Kevin Wong said yesterday, but he did not commit to a specific time-frame. The group also turned
      418 words
    • 559 10  -  It is buying 74% of homegrown Teo Garments By JOYCE KOH TUMBLING textile quotas around the world have created big opportunities interwoven with new challenges for many apparel companies, and main-board-listed Ban Joo Co is tackling this fast-chang-ing industry with another acquisition made
      CHRIS LOH  -  559 words
  • Page 9 Advertisements
    • 80 9 APOLOGY e'/i fir a <?fi I f/Ztd J?e/fraarp. Raffles Hotel is proud to host 6 of the Continents foremost chefs, who between them, have been awarded 10 Michelin Stars. Also gracing the Wine, Food and Arts Experience are 6 renowned vintners and celebrated glass artist, Seiki Torige. Indeed, this will
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  • Page 10 Advertisements
    • 189 10 Live and Glow Healthy Lifestyle Leader Records Glowing Results for Full Year 31 December 2004 Key points: •4Q Revenue +20% EBITDA+B2% Net Profit+6l 4Q Revenue Growth North Asia +14% South Asia +32% Global Franchisees +33% •FY 2004 Revenue +16% Net Profit +32% Profit ahead of Long Term Growth Target of
      189 words
    • 763 10 Atiger ASIA TIGER GROUP LIMITED IWmpixwd m i*mud« <»i ?1 Jw 2004| Invitation in respect of 61,000,000 New Shares of US$O.O4 each compriaing /J! C of Sharea at 550.22 for each Offer Share by way of public offer; and (2) 59,000,000 Placement Shares at 550.22 for each Placement Share by
      763 words

  • MID CAPS
    • 923 11  -  Group has exciting prospects but analysts caution against banking on its involvement in an integrated resort project, writes JEAN CHUA JEAN CHUA THE Ascott Group is fast becoming an exciting prospect. Capita Land's listed operator of luxury serviced-apartments is most recently in the news
      Source: Bloomberg  -  923 words
  • Page 11 Advertisements
    • 431 11 &ecat/e Raffles Hotel is pleased to invite you to celebrate 10 years of wine, food and art this 16 to 20 February. A truly stellar cast has been assembled, including 3-Michelin Star chefs, Jacques and Laurent Pourcel, and 2-Michelin Star chef, Carlo Cracco. Also featured are vintages from Europe's top
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  • SINGAPORE NEWS
    • 509 12  -  HR firm Hudson says hiring, salaries and bonuses will grow this year By KAREN HO MORE jobs, bigger bonuses and higher salaries for new managers. That's what you can expect in the coming months, according to the first quarter report by human resource and
      Source: Hudson  -  509 words
    • 391 13  -  BT exclusive Citigroup aims to introduce its clients to opportunities in the region By GENEVIEVE CUA PRIVATE money from the Middle East is increasingly looking to Singapore as an alternative wealth centre, says Citigroup Private Bank's new managing director Alston Beinhorn.
      391 words
    • 488 13  -  By ALEXANDRA HO WHEN you are fully booked during the traditionally quiet month of January, you know you are off to a good start And Singapore's largest convention centre, Suntec Singapore International Convention and Exhibition Centre, looks set for a buoyant 2005. This
      FIE PHOTO  -  488 words
    • 440 13  -  By LIZA LIN THE majority Of companies here regard corporate social responsibility as important and wish to integrate it into their business strategy, said the Singapore National Employers Federation (SNEF). Alex Chan, vice-presi-dent of SNEF, said this yesterday during the launch of the Singapore Compact
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    • 212 13 ANYTIME, a Video on Demand (VoD) company, yesterday announced a tie-up with three of Hollywood's biggest studios, which will result in the greatest single offering of Hollywood lineups and local content available in the Asia-Pacific. Twentieth Century Fox, Sony Pictures Television International, and
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  • Page 12 Advertisements
    • 1651 12 IU 3 T.TJ I Land Keppel Land Limited Co Reg No: *****0001G (Incorporated in the Republic of Singapore) UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2004 1. UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2004 The Group continued to benefit from the favourable interest rate environment in Singapore
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  • Page 13 Advertisements
    • 561 13 Extend your global reach hhk- a 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 days, this year's lEF
      561 words

  • ECONOMY WATCH
    • 625 14 Most economists surveyed in China say yuan rate must be adjusted Bloomberg, Reuters [BEIJING] Chinese Finance Minister Jin Renqing will hold a "deep dialogue" on the yuan's peg versus the US dollar when he attends a Group of Seven meeting next week
      Bloomberg,; Reuters  -  625 words
    • 269 14 Bloomberg [NEW YORK] An overwhelming number of chief executive officers expect their company revenues to rise this year, a survey by a top accounting firm found. The New York-based PricewaterhouseCoopers found that 91 per cent of 1,391 CEOs it interviewed were "very"
      Bloomberg  -  269 words
    • 368 14 Reuters [TOKYO] Japan's trade with China and Hong Kong exceeded its trade with the United States its biggest trading partner for decades for the first time last year, reflecting China's growing clout in the global economy. The share of China plus Hong Kong
      Reuters  -  368 words
    • 189 14 AFP [DAVOS, Switzerland] Selfindulgent US consumers could scuttle global growth if they persist in using homes as giant cash dispensers to fund purchases, Morgan Stanley chief economist Stephen Roach warned yesterday. Addressing a World Economic Forum update on the economy, he said indicators
      AFP  -  189 words
    • 4775 14 UNIT TRUSTS FUNDS Shenton Thrift!** 1.142/ Shenton Income 1.512/ AIN Amro Asset Mgt (S'por.) Shenton jncomeMD).. 0.922/ Star Europe Eqty'**.. 0 776/ Shenton Asia Pacific 0903/ Star Europe Bond 1261/ Shenton Gfc Opportunities/" 0683/ Star Europe jSTZZZ ?1Sw J™ Star Asian Tiger Eqty 0 938/ r hIk, Star Asia Bond
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  • Page 14 Advertisements

  • MALAYSIA/INDONESIA
    • 544 15  -  But growth tipped to skid this year as yen, euro gain against ringgit By PAULINE NG in Kuala Lumpur DRIVEN by a buoyant economy, competitively-priced new models, low interest rates and longer repayment periods, the Malaysian auto sector roared to a sales
      AFP  -  544 words
    • 2054 15 rwS 18 oi S n JS"S! ACP Industries 116 17R Gamuda S.S5 0.05 1517 0.40 £0, 358 0.W Affa Holdings 2" So2 £o! 1l£ ZSt' 21 ®f Globetronks Tech 0.47 unch 226 AhmadZak,Res 1.61 -0.01 22 GlomacBhd J2.14 0.02 50 Gold Bridge Engrg .0.37 -0.01 143
      2,054 words
    • 420 15 Reuters [KUALA LUMPUR] Malaysia's biggest power producer Tenaga Nasional Bhd yesterday said it swung to a profit in its fiscal first quarter despite stronger Japanese yen and sterling triggering losses on its debt. The state-controlled monopoly distributor had total borrowings of
      Reuters  -  420 words
    • 209 15 AFP [KUALA LUMPUR] South-east Asian nationals will no longer need to obtain visas when travelling to 10 countries in the region by the end of this year, Malaysian Prime Minister Abdullah Ahmad Badawi said in remarks published yesterday. Leaders of the 10-member Association of
      AFP  -  209 words
    • 218 15 Bloomberg [JAKARTA] Indonesia will sell a 30 per cent stake in PT Bank Negara Indonesia, the nation's third-largest lender, in May or June to raise funds to help cover a Budget deficit, president director Sigit Pramono said yesterday. The government will sell
      Bloomberg  -  218 words
  • Page 15 Advertisements
    • 167 15 Shinto Giving continues at Hotel Phoenixosim) Dear AIU of an OSIM We have laun^e^y c^. the ehlldr n j \Svmphonic c ir>Nation and lam ai \%*J cancer .•ii 'c Cancer Founda date ISSI 'oundation Children s <- ance the highest bid to aa proud to announc dollar for dollar Children's
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  • GREATER CHINA/INDIA
    • 581 16 It may target more industries and up interest rates to rein in economy Bloomberg [BEIJING] China will assess first-quarter reports before deciding whether to rein in its accelerating economy with tougher investment curbs or higher interest rates, a government economist said. Measures "could include extending investment
      Bloomberg  -  581 words
    • 662 16  -  Wipro 'converts' general science graduates into software professionals on-the-job By ANDY MUKHERJEE Bloomberg By hiring Prity Tewary, Wipro Ltd may have found the key to expanding the engineering talent pool Indian universities produce in a year. For the last two years, the 24-year-old
      Bloomberg  -  662 words
    • 387 16 It publishes statement in six local newspapers AFP [HONG KONG] The Hong Kong government published a commentary in six local newspapers on Wednesday rejecting claims that it made shady deals with big business in the development of an ill-fated hi-tech business park. The
      AFP  -  387 words
    • NOTE BOOK
      • 65 16 Bloomberg w [BEIJING! China's central bank said all banks and brokerages planning to sell bonds and short-term notes must seek credit ratings, in a move aimed at strengthening oversight and spurring development of the interbank debt market. Requiring credit ratings will enable investors
        Bloomberg  -  65 words
      • 83 16 Reuters, AFP [MUMBAIJThe death toll in a stampede and a subsequent fire at a temple in western India was expected to climb, police said. More than 300 people, mostly women and children, were crushed or burned to death during an annual pilgrimage to the
        Reuters,; AFP  -  83 words
      • 114 16 Bloomberg [NEW DELHI] Oil Natural Gas Corp, India's biggest crude oil explorer, declined to confirm a report it plans to borrow as much as US$6 billion in foreign currency to fund a purchase of assets in Russia's OAO Yuganskneftegaz. The Economic Times reported
        Bloomberg  -  114 words
  • Page 16 Advertisements
    • 252 16 Special Paganini Performance Wiggy's Wine the acclaimed award-winning Violinist Ms. Olivia Steindler born in Genoa Italy. She will be playing Paganini's selected works supported by accomplished local guitarists. (Tickets S2S-Inclusive of Buffet Dinner) Ms. Steindler performed at the 2001G8 conference for the World Leaders and opened the 2003 2004 Annual
      252 words
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  • ASIA-PACIFIC/WORLD
    • 447 17  -  Contract manufacturers go lean to remain competitive By RAJU CHELLAM [SINGAPORE] Cost-cutting and manufacturing consolidation is helping contract manufacturers like Flextronics, Solectron, Jabil Circuit and Sanmina-SCI Corp squeeze profits out of a downturn in the electronics and computer sectors. Singapore-headquar-tered Flextronics has reported a four-fold
      447 words
    • WORLD WATCH
      • 82 17 Bloomberg [NEW YORK] Goldman Sachs Group and Morgan Stanley agreed to an US$BO million settlement with the Securities and Exchange Commission over claims the firms improperly induced investors to buy shares of initial public offerings. The two firms will pay US$4O million each to
        Bloomberg  -  82 words
      • 76 17 AFP [BERLIN] The German government revised downwards slightly its growth forecast for the current year to 1.6 per cent from 1.7 per cent previously. Economy Minister Wolfgang Clement unveiled the updated forecasts in his annual economic report, in which Berlin was tabling gross domestic product growth
        AFP  -  76 words
      • 82 17 Bloomberg [FRANKFURT] SAP AG, the world's largest maker of business-management software, forecast licence revenue will increase 10 to 12 per cent this year as it wins more business in the US and focuses on taking customers from Oracle Corp. Net income in the fourth quarter
        Bloomberg  -  82 words
      • 79 17 NYT [NEW YORK] After years of aggressive cost cutting, Merrill Lynch showed on Tuesday that it was also capable of revenue growth. It reported a 21 per cent rise in Q4 revenue, buoyed by gains in every one of its business lines. Earnings, however, fell
        NYT  -  79 words
      • 53 17 Bloomberg w r [LONDON] Stanley Leisure, the largest UK casino operator who has joined forces with Genting Bhd, said fiscal first-half earnings increased 21 per cent. Net income in the six months ended Oct 31 rose to £16.2 million (5549.8 million) from £13.4 million a
        Bloomberg  -  53 words
    • 230 17 AP [NEW YORK] Former World Com chief Bernard Ebbers orchestrated a massive accounting fraud and then told "lie after lie after lie" about the company's crumbling financial condition in an obsessive drive to meet Wall Street expectations, a prosecutor said at the start of
      AP  -  230 words
    • 584 17  -  ASIA INSIGHT ANTHONY ROWLEY Tokyo Correspondent An "additional tier of summitry" was the phrase used by Singapore foreign minister George Yeo this week to describe the proposed "East Asia Summit Meeting" currently being dis- cussed among some countries as a means to pursue political
      584 words
  • Page 17 Advertisements
    • 33 17 WAKE UP TO THIS ENCHANTING VIEW AT THE BERTH BY THE COVE THE MOST TALKED ABOUT WATERFRONT ADDRESS IN SINGAPORE. Visit our Show Flat on Sentosa island from 10am to 6pm daily 7
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  • AVIATION
    • 663 18 LOW-COST AIRLINE CONFERENCE They seek to expand fleet and routes to meet travel demand Bloomberg [SINGAPORE] Four of the 11 low-fare carriers that fly in South-east Asia and India said they are planning initial public offers of their stocks in the
      Bloomberg; FILE PHOTO  -  663 words
    • 1959 18 OTT RJ6MT ETA HJ6WT ETP K357 1015 SQ408 1620 Denpasar Bala SQ141 1145 SQ142 0935 MlllHl LH9771 1855 AF8088 2250 SQ143 1535 S0146 1640 SQ230 1855 BA7382 2250 GA840 1725 GA841 1825 QF82 2250 SQ147 2230 SQ148 1900 Amsterdam SQ323 0645 KL838 2330 NW11 0030 NW12
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    • 258 18 AFP [SINGAPORE] Asia's growing numbers of budget airlines could service hundreds of big cities that currently have no international air links if governments ease restrictions, a leading aviation analyst said yesterday. The Centre for Asia Pacific Aviation's managing director Peter
      AFP  -  258 words
    • 598 18  -  Some see desire for comfort; others want consistently low fares By YEN SREENIVASAN (SINGAPORE] Should lowcost airline operators in Asia-Pacific starkly differentiate themselves from the incumbent network carriers? Or should they offer a hybrid service encompassing a combination of low fares and a
      FILE PHOTO  -  598 words
    • 123 18 Bloomberg [BANGKOK] Thai Airways International, the country's biggest carrier, cut fares to Phuket by 27 per cent to lure travellers back to Thailand's most popular beach resort, which was devastated by last month's tsunami. The round-trip fare between Bangkok and
      Bloomberg  -  123 words
    • 259 18 Bloomberg (SINGAPORE] Nok Air, the budget carrier owned by Thai Airways International, said it is aiming to earn 200 million baht (SsB.s million) in operating profit by July. 12 months after it began offering low-fare flights in Thailand. "We are on course to be
      Bloomberg  -  259 words

  • SHIPPING/AVIATION
    • 222 19 AFP [BEIJING] China Southern Airlines will order five A3BO planes from Airbus this week, becoming the first Chinese carrier to buy the new giant superjumbo, state media reported yesterday. Citing a telephone interview with China Southern executive Yang Defeng, the China Daily said
      AFP; AP  -  222 words
    • 332 19 Chairman Conte sees need for consolidation Reuters [MADRID] High fuel prices and "unfair" competition from loss-making airlines posed the biggest challenges to the Spanish flag carrier Iberia this year, according to the airline's chairman Fernando Conte. He declined to confirm a newspaper report that Iberia
      Reuters  -  332 words
    • 186 19 AP [CHICAGO] United Airlines' chief executive expects the company to emerge from bankruptcy this autumn, according to a published report. United CEO Glenn Tilton told the Chicago Tribune the carrier will be able to focus solely on providing better value to customers after
      AP  -  186 words
    • LOG BOOK
      • 83 19 [SINGAPORE] Singapore Aircraft Leasing Enterprise (SALE), one of the world's largest plane lessors, said yesterday it agreed to buy four Airbus A 319 aircraft and lease them to Spirit Airlines Inc of the US on a "long-term basis". Spirit Airlines is
        83 words
      • 101 19 Bloomberg [HONG KONG] Hong Kong Aircraft Engineering Co (Haeco), an airplane maintenance company part-owned by Cathay Pacific Airways Ltd, said it will spend HK$32O million (5567.1 million) to build a new hangar at the city's airport as traffic increases. The company signed an agreement
        Bloomberg  -  101 words
      • 112 19 AFP [BEIJING] China Eastern Airlines, one of the country's top three carriers, plans to start flights to Moscow and Mumbai to meet increasing demand, according to state media. Flights from the airline's base in Shanghai to Moscow are scheduled to take off in
        AFP  -  112 words
    • 525 19  -  Whereabouts of crew unknown; IMB lauds prompt Malaysian action By DONALD URQUHART [SINGAPORE] Malaysian authorities have detained, four pirates and recovered a Singapore-registered tug and a barge, missing for nearly a month after being hijacked by pirates off the Indonesian island of
      525 words
    • 218 19 Bloomberg [SINGAPORE] The price paid for ships to be scrapped and turned into recycled steel rose to a record in Bangladesh this week because of a shortage of ships offered for breaking, brokers said. Buyers in Bangladesh, the world's largest ship scrap market,
      Bloomberg  -  218 words
    • 399 19  -  SHIPSHAPE By GEORGE JOSEPH THE title is "port man of the year" of Rotterdam, but the winner of the accolade given annually by the city's press club this time is a woman. The Norwegian cruise director of the port of Rotterdam, Mai Elmar, became
      PORT OF ROTTERDAM MAGAZINE  -  399 words
  • Page 19 Advertisements
    • 176 19 NOTICE OF MEETING Of CREDITORS IN THE MATTER OF THE -COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF HARLEY INVESTMENTS PTE LTD CO. REG. NO. *****2215 C Notice is hereby given the second meeting of the creditors of the abovenamed Company will be held at Equity Plaza 20 CeciJ
      176 words
    • 273 19 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF BAHRAIN MARINE (S) PTE. LTD. (Company Reg. No. *****2801 C) (In Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308( 1) of the Companies Act, Cap. 50 that the Final Meeting of Members of
      273 words
    • 218 19 A-SONIC AEROSPACE LIMITED (Incorporated in the Republic of Singapore) (Company Registration No: *****1838G) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the shareholders of A-Sonic Aerospace Limited (the "Company") will be held at 168 Robinson Road, Capital Tower, Level 9, FTSE Room, Singapore *****2 on 16 February 2005
      218 words

  • EDITORIAL & OPINION
    • 493 20 EDITORIAL INDONESIAN President Susilo Bambang Yudhoyono completes his first 100 days in office today and. by any benchmark, the past three months would have been the most testing period in any career. Elected last October in the country's first-ever direct presidential elections by an overwhelming margin,
      493 words
    • 722 20  -  THE BOTTOM LINE AL LABITA Manila Correspondent FOREIGN credit rating agencies seem to have forced the Philippines on the ropes over its poor public finances. Whimsical at times, they have no qualms lowering the boom on the country's credit standing and don't care even if
      722 words
    • 891 20  -  Though sex roles have blurred, taboos against discussing gender differences have remained ROBERT SAMUELSON The Washington Post Writers Group LARRY Summers the economist who was President Clinton's last treasury secretary and is now Harvard's president— has a knack for getting into trouble. He
      The Washington Post Writers Group  -  891 words
    • 1097 21  -  US deficits, poor European growth and undervalued yuan top list of concerns By CARTER DOUGHERTY International Herald Tribune BUDGET and trade deficits in the United States. Anaemic growth in Europe. An arguably undervalued currency in China. The stewards of the world economy, finance ministers and
      International Herald Tribune; BLOOMBERG; REUTERS  -  1,097 words
    • 405 21  -  LETTERS TO THE EDITOR Ricky Law PA Manager, DuPont Singapore WE refer to the report, "DuPont Teflon coating may cause cancer: US EPA (BT, Jan 15-16). We would like to share a number of points on your characterisation of PFOA and the safety of
      405 words
    • 230 21  -  Marc Liu, CFA; Singapore I REFER to the report "Powering ahead in a tough market" (BT, Jan 25), and would like to raise a few points. The claim that fuel cost accounts for 80 per cent of cost is not very accurate.
      230 words
    • 1686 21 STRAITS TIMES INDEX STOCKS Stodi mm» Wt Ow Owigt Stodi ninw Wt doft Clung* Allgreen 50t 0.30 1.100 NOL 2.29 3.300 +0.120 BIL Intl US20c 0.48 1.070 +0.010 OCBC 9.83 13.600 CaprtaLand 1.47 2.260 +0.020 Parkway H 25c 0.72 1 590 +0.030 Chart SemiCond 26c 0.70 0.950 +0.010 People's Food
      1,686 words

  • Page 21 Miscellaneous
    • 186 21 CRYPTIC CROSSWORD 16 Monster making some prog- outside the boundaries of Exe- ""^1 DOWN 2 Rose may be walking through 14 Wilt and fall, having drunk YESTERDAY'S SOLUTION 3 acts -UN 16 gt the better o f maiden, ma y Sat' 12 peevish (12) RemedVthaS said to make Portray, 13Armagnac,
      186 words

  • 9791 22 SGX MAINBOARD Transaction date: Jan 26 J 2 I*. L*rt Voi Day last Quota GrOtv Mv GrYW Nat MCap Wgli law Coda Company Sata C000) High law fciyar Sa«af Cvr P/E >3 25-5 5 5716 1st Software 5c 6.5 unch 1830 6.5 6.5 6.5 7 26J 112? 8Telecom
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  • Page 22 Advertisements
    • 56 22 Audemars Piguet Le maitre de l'horlogerie depuis 1875 T fat i m /•fit Sole Distributor Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. TUP UHI ID D ACC y 541 Orchard Road #17-00 Liat Towers Singapore *****1. Tel: 6238 6678 Fax: 6238 6676. 1 lit. HvJLi K. VjL/\ JJ http://www.audemarspiguet.com Scotts
      56 words

  • 5963 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In tool am in SJ In utt yr dy yr dy %yt lndc» Qiany Chnny Oi»nq« Puny Pinng« Chang* World lnae» Pretimmary 837J 0.6 75 0.6 5.4 03 9.1 «£AR Prefcmwary 7734 0J 103 Oil M -03 13J EnapePrelimnary 106&3 0.7 10.4 0.4
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  • Page 24 Advertisements
    • 1403 24 I IMPORT NORTH AMERICA 11 AUSTRALIA/NEW ZEALAND I SUPER SHUTTLE EXPRESS (SSX) VESSEE I VOT I 10. I sm I PKG lAUSTRALIA ABIA EXPRESS (AAX) 00Q NINGOO 06W01 17/01 31/01 01/02 Bl VOT ONE SYD MB AM FRE PKG ooa HAMBURG MWO2 20/01 07/02 01/02 Art. JAKARTA 13N 15/01 17/01
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    • 72 24 UK CONTINENT SERVICE Loading for LOK PRATAP RTM/ATW/BMN/UK/NAN SPYROS B RTM/ATW/BMNAJK/NAN Loads Singapore. EVW. Malaysia, Indonesia MIDDLE-EAST SERVICE Loading for PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT LOK PRATIMA DBI/ABU/KWT/BDK "Loads Singapore, E7W. Malaysia, Indonesia USA SERVICE Loading for HANJIN TAMPA VCW/VCB/LAX/MZL MARY H CAM/NFK/SAV/NOL 'Loads E7W Malaysia, Indonesia F.E./S.E.A. SERVICES S pore Loading
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    • 874 24 IINIfIASIA ROKO SERVICE vpsa/vor Mwroa) hbghihu kg «h m I sw I jkt I STRAITS VEKTUtE 02/05 15 3.2 20/01 23/0) 27/01 30/01 01/02 STKAITS VENTURE 03/05 1$ 12 03/02 OS/02 10/02 13/02 1 5/02 SHAITS VEimjKE 04/05 IS 12 17/02 It/02 24/02 27/02 01/03 IWiST ASIA/iiNOAI KOKO SVS VESSEI/VOr
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  • Page 25 Advertisements
    • 686 25 jUu angaf hra-ld| CvMM Ik Container Tracking, visit on our Home Page www.mellin.com.s9 www.homburgsud.com MAfMVKHnrMD Into HtttoWIWHW ■sakshvkhkimi) u**, Ha™ t> i==m sr" Tff "ff Tar rap m NW.OSQW 05/0? lfa 0m IT/M 20/07 03/03 Q4/03 K fcnlwnonOOdW 17/02 01/03 Evr Gowto 024W 09/02 24/02 27/02 10/03 11/03 U,031 irnpin»
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    • 1049 25 v EWi Iw I s |N PGU HCM vessel voY slr|^n^ GOLDENTMDE SO2N j/2 9 I ~f~ fWH BRIDGE 073 A 12/2 I KUO LUNG IfflSN I IS/7 I 16/2 I U/2 T" NEW DYNAMC 080 A 17/2 WT~ *VSlcdhn boiti Nortti i Westpod VBKI VOY PKG SIN HKG SHA
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    • 160 25 Qemartrans (S) Pte Ltd GEMABTRANS OPBMTOR COOt -QT CM NO; *****M0000R FOR BOOKJNQ& TIL MX: SMOAPORE *****682/ *****802 *****061/ *****110 KUALA LUMPUR (03)*****668 (**********2 3 BAIUNQB WEEK TO HCM _msa VOT SIN HCM GEMARTRANS PIONEER 26N 27/01 30/01 UUUM 192N 11/01 03/02 CAPE CHARLES 040E 31/01 03/02 21N 01/02 04/02
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    • 876 25 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS vtssa vor sin p.kiangl cokmmo h sum cotomo PAUFIt WBT -QQQ3W 24 JAM 26 JAM JAM 01FB tUffl KOttfEIWIIA YFWOS7 31 JAM 02 FEI 03 FEI 01 FEI r IHPIBA 6AWPHI JjfiflML JlZitl—Qiiil Jlfß ~iSFB~ lIFH lAJIV
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  • Page 26 Advertisements
    • 665 26 lAmI wallenius wilhelmsen website: http://www.2wglobal.com VESSEL VQY RAMP HEIGHT SIN IK MAO HOP* Ml* ~S*V~ »AI ~M? NYC NEW MoT TEXAS Afso3 420TMS 6.4 M 08/02 OMITS 10/03 17/03 18/03 22/03 20/03 24/03 14/03 TAMERLANE Af 504 3201ns 6.4 M 16/02 10/03 20/03 27/03 28/03 02/04 31/03 04/04 24/03 TAIKO
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    • 1208 26 J2SSB VQY SW POO WIAHPA miM 25/01 25/OT~ AtAMIAYA 7 M« s?^ JSUim IW2N 26/01 27/01 gM" 849 S^~ PA( lANDA 1393N 2»/01 21/01 88l IMI ~ffijH SB 2iZal »0/0' AUMJAYA2 <933 01/02 03/02 PAt lAHPA US2M M/fiJ ai/oi PAtOAHPA 139M1 01/02 01/0? Inl 'llill' I 1 Ijllj^l PAC lAHPA
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 5061 27 This IM ITA aMwBrw VmnI Tilipfcim iTA H* AbHrtkar Vmmt Vayajt TMBphaaa 9M t Pfi> M— i BB WWW i"*"** si Owfn Www n —a*? To GLADSTONE (GLT) 213S Australia To ABIDJAN (ABJ) 2003 Cota DTvoIra nxu 02/04 ngpi chenan 032 amim 03(02 16/03
      5,061 words
  • Page 27 Advertisements
    • 96 27 One-Stop Shipping Services j Ship Registrations Ship Classifications Radio Accounting Tuvalu, Mongolia, Panama, Quality, Safety, Security SsrvlCSS Belize and many other flags Surveys and Consultants Accounting Authority RSO6 Most competitive fees low taxes 24-hour efficient service, 365 days a year Worldwide network of surveyors No restriction on nationality of ownership/crew
      96 words

  • BizIT
    • 803 28  -  BT exclusive Corporate and Soho sectors are the company's big thrust areas, reports AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY PRINTER maker Lexmark has targeted 18 per cent annual revenue growth in Singapore for the next four years, with corporate sales, Soho (small office home office)
      803 words
    • 758 28  -  Viruses will be rampant as mobile phone growth offers big opportunities: Deloitte By RAJU CHELLAM ABOUT two billion people worldwide will own mobile phones this year, offering "tantalising commercial opportunities" for content producers and resellers. The key to success in the cellphone industry will
      AFP  -  758 words
    • 385 28 AFP [WASHINGTON] A US government decision to probe IBM's planned sale of its PC business to a top Chinese electronics firm reflects American concerns over China's increasing acquisition of civilian technologies that could add to its military and economic might, some analysts
      AFP  -  385 words
    • 681 28 AP [SEATTLE] Microsoft Corp plans to severely curtail the ways in which people running pirated copies of its dominant Windows operating system can receive software updates, including security fixes. The new authentication system, announced on Tuesday and due to arrive by midyear,
      AP  -  681 words
  • Page 28 Advertisements

  • SINGAPORE FOCUS: SERVICES
    • 939 29  -  SECURITY SERVICES Singapore is well positioned to take advantage of the new business opportunities arising from the changes, CAROLYN QUEK reports CAROLYN QUEK WITH the onslaught of terrorism and, more recently, the tsunami disaster that ravaged parts of South and South-east Asia, the
      CHRIS LOH  -  939 words
  • Page 29 Advertisements
    • 1235 29 VH>pMs>, B&yp DEUTSCHE BANK AG, LONDON BRANCH (Inoofporatad under the laws of tha Fadaral Republic of Garmany) NOTICE TO WARRANTHOLDERS To: (1) ALL HOLDERS OF EUROPEAN STYLE CASH SETTLED CALL WARRANTS RELATING TO' THE ORDINARY SHARES OF SINGAPORE AIRLINES LIMITED ISSUED BY DEUTSCHE BANK AG, LONDON BRANCH (SIA DB ECW*****8);
      1,235 words

  • PROPERTY
    • 1154 30  -  Li Dak Sum recently offered one of the highest bids ever for a hotel project. Does he know something Singapore developers don't? By KALPANA RASHIWALA HAS Hong Kong tycoon Li Dak Sum overpaid for the site next to his Carlton group's hotel in
      AUTHOR LEE; FILE PHOTO  -  1,154 words
    • 262 30 AFP [HONG KONG] An elderly Hong Kong resident whose court challenge derailed a major property privatisation last month has rejected a government offer to pay her legal costs, her lawyer said yesterday. Lawyers representing Lo Siu-lan had asked the government to cover
      AFP; REUTERS  -  262 words
    • 510 31  -  Demand for land grew in Q4, while that for ready-built facilities fell By KALPANA RASHIWALA IT mixed picture for industrial property demand in the fourth quarter of last year, according to JTC Corp, Singapore's biggest industrial landlord^ JTC?9 latest figures show the
      510 words
    • 268 31 Bernama [KUALA LUMPUR] Forty-five days after being put up for sale by tender, four of the eight properties previously owned by Faber Group were snapped up for RMI36 million (5558.48 million), 11 per cent more than the aggregate indicative prices. Agent for the
      Bernama  -  268 words
    • 702 31 Reuters [HONG KONGI Faced with slowing growth in China's apartment boom, foreign developers are turning to shopping centres, betting strong consumer spending and an influx of retailers will boost demand and push up rents. But the payoff in the immature market is anything but assured,
      Reuters; AFP  -  702 words
    • 1096 31 Brought to you by HSBC M PROP COgMCT TENURE BWW>ND PRICE PSF IfeMMMarree&y Apt 99 1033 956 925 1c Sal At Mama Bay Apt 29/11/2004 99 1033 1054 1020 The Sal At Marina Bay Apt 26/11/2004 99 883 874
      1,096 words
    • 813 32  -  Analysts cite pick-up in demand and little new supply. ALEXANDRA HO reports ALEXANDRA HO THE local office property market has turned the corner and the outlook for the rest of year be it rent, demand or investment is positive. That's the buoyant sentiment expressed by
      Source: DTZ Research  -  813 words
  • Page 30 Advertisements
    • 274 30 H this is a must-see exhibition for anyone and everyone I 7sU C6&nC/v£ who is interested in investing in Thai property. All of top developers will be gathered in one great venue. This is the place to find out absolutely y w/ everything you've always wanted to know about 9
      274 words
    • 145 30 PRIME REDEVELOPMENT SITE AT MARINE PARADE Site area: 51.072 sq ft GPRI.*, 5-storey X/ Close proximity to reputable schools n and amenities /fw* sW gS Easy accessibility to ECP and PIE Tender Closing Date: Wm 23 Feb 2005 (Wed) et 3pm For information and tender documents. f can Jones Leng
      145 words

  • Page 31 Advertisements
    • 109 31 Got the right home? Now get the right home loan. Buying a house In Singapore is a heavy investment However, you can stl have the freedom to live life the way you want, with HSBC home loana. Enjoy theae benefits when you take up an HSBC home loan: Competitive interest
      109 words

  • Page 32 Advertisements
    • 83 32 'B BBWi[f fiCTnfflßH |B HI liiis. rri» HBH gfelH B ry\JHaiiLE r 1 r^: ltm ii,iM hi 1 f IU. •< HH H9RVV BBfl J i X mIIfII f7 j Orchard mi J ll'nWni Tc t t4. --i SMB Tro 3f tjl vV tm wfa»l "*i £81 Shopping H g
      83 words