The Business Times, 5 May 2005
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2005-05-05
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The Business Times
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Title Section15 2005-05-05 1 THE BUSINESS TIMES Thursday May 5,2005 SINGAPORE 85 cents online at http'J/business-time&asial.com.sg MICA (P) 069/03/200515 words
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Article, Illustration661 2005-05-05 1 VEN SREENIVASAN - Head-on competition with full-service carriers if it flies to eastern Australia By VEN SREENIVASAN [SINGAPORE] Budget carrier Valuair is looking at spreading its wings to the medium-haul market using wide-bodied aircraft. Chairman and founder Lim Chin Beng says the company is "seriously studying" possible661 words
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735 2005-05-05 1 MICHELLE QUAH - By MICHELLE QUAH [SINGAPORE] About 25 Asian companies are said to be looking to list on the US Nasdaq market this year a sure sign that the region's interest in tapping America's capital markets remains strong. But South-east Asia and Singapore735 words
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Page 1 Advertisements
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Advertisement9 2005-05-05 1 CORPORATE RESULTS UOB profit up 13.6% in Q1 PG69 words
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Advertisement5 2005-05-05 1 AGCS DEAL SingFost acted ||newCE(^G^5 words
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Advertisement23 2005-05-05 1 top desvmmions Chinese tourists flock ■PHHI to HK, Macau PG4 IHNI 8 "887 81"300ooZ" S'pore low-cost terminal open to aR carriers pg 1823 words
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Advertisement63 2005-05-05 1 BUT S'pore can be global test bed for technology. Avaya chief pg 28 Kv >' pH fx Sff iW^M >.^^ Jjfcg mk, •|e *V'' i ij 7 ymmfrm ibk i% 1- *"i^ '"Pffiifii i'i'F r ri i 1 v i^****^ i^*— ■—-1, H B <S tf V% »V' tl ,>-«63 words
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TOP STORIES
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Article, Illustration350 2005-05-05 2 PARVATHI NAYAR - By PARVATHI NAYAR [SINGAPORE] Pop Art's Mona Lisa now has a name. At the packed opening of the "Jafri Meets Warhol" exhibition last night, the identity of the woman in Andy Warhol's enigmatic $1.5 million painting The Unknown Woman was finally revealed. AndARTHUR LEE - 350 words
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520 2005-05-05 2 ANDREW MARKS - But some think Greenspan may be trying to send a message to the market By ANDREW MARKS in New York AN "inadvertent" omission in the statement issued by the Federal Reserve Bank's interest rate policymaking committee caused economists to forecast an520 words
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Article590 2005-05-05 2 Chinese tourists flock to HK, Macau HONG KONG and Macau remain the two most popular destinations for tourists from China in recent years going by figures from the Chinese authorities, while Singapore's popularity seems to have waned in comparison. On the other hand, Singapore Tourism Board figures show590 words
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Article, Illustration635 2005-05-05 2 ANNA TEO - But analysts are hopeful contraction will be short-lived By ANNA TEO [SINGAPORE] Just when manufacturers have become more sanguine about the outlook for their sector, a key indicator has dipped into negative territory for the first time in 23 months. Lower new domestic635 words
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Article, Illustration762 2005-05-05 4 NANDE KHIN - The changing face of Chinese, Indian tourism S'pore slipped to ninth place in 2003, according to Chinese data By NANDE KHIN [SINGAPORE] Hong Kong and Macau remain the two most popular destinations for tourists from China in recent years going by figures from theAFP - 762 words
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1098 2005-05-05 4 G PANICKER - By G PANICKER [SINGAPORE] Indians are the new globetrotters, judging by the explosive growth of the country's outbound tourism from a US$l billion-a-year affair a decade ago to US$l billion-a-month business today, travel organisers claim. The burgeoning economy has vastly improved1,098 words
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Page 2 Advertisements
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Advertisement628 2005-05-05 2 Tisc, **;*r» ~"i£rr Deloitte. Major Exporter Scheme (y~7) Grand piaza Parkroyal Hotel I The cycle for renewal of the MES status for the next three years is once again approaching. Based on I our last renewal exercise, it is apparent that many traders have unwittingly contravened the GST law p,te628 words
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Page 3 Advertisements
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Advertisement33 2005-05-05 3 BK -IMS J K.IH HMH i\\iii«iitf/# <■-.! IHEL V/ jg,iCARTIER mH^^BhM9^^R Bk ,JSIf Imil^m «£*s 1 %^p^::v:'^^^//- s X '1 1 1M 1 I\* v x •v# J ?W ''f. .J —mr^ o^ oo^'33 words
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Page 4 Advertisements
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Advertisement27 2005-05-05 4 Estima WelCab Alphard Aiphard WelCab Aiphard Partition Sponsored by: SIEMENS VDO m mEm <m Tram Expraas smioL hi aciaurr rn-. ltd maxs£Rvo tpr«?«* pie KtAM CHUAM TRADING27 words
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Page 5 Advertisements
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Advertisement145 2005-05-05 5 Blackßerry 7100 v™ from Vodafone, exclusive to Ml. ''»'a&?MBK» 4RM Ik' ft Don't be trapped at your desk by important emails. With Blackßerry* from Vodafone, you'll be free to receive and send emails from I \M. I virtually anywhere. Choose the Unlimited Plan for only $61.95 per month, or the145 words
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COMPANY NEWS
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559 2005-05-05 6 SIOW LI SEN - Increase due mainly to accounting change and Thai BOA's contribution By SIOW LI SEN UNITED Overseas Bank yesterday said net profit for the first quarter rose 13.6 per cent to $406 million, mainly due to an accounting change and contribution from559 words
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Article, Illustration648 2005-05-05 6 JOYCE KOH - EARNINGS RESULTS Group posts higher profit proposes higher dividend By JOYCE KOH SINGAPORE Post's new chief executive, Lau Boon Tuan, was in the hot seat yesterday as he fended off questions about the company's aborted deal with Accord CustomerCHRIS LOH - 648 words
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302 2005-05-05 6 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY INTEGRATED contract manufacturer Hi-P International has bought a 40 per cent stake in a Singapore award-winning industrial design company. The company announced this yesterday along with a strong set of first-quarter results, with net profit rising 28.1302 words
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543 2005-05-05 6 R SIVANITHY - HOCK LOCK SIEW By R SIVANITHY WHEN it comes to gauging stock market sentiment, traders use all sorts of benchmarks to try to second guess the future. Among the most popular are measures of liquidity, insider trading activity, and chart-based calculations like543 words
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458 2005-05-05 8 JOYCE KOH - Group separately says it terminated service of group financial controller By JOYCE KOH TROUBLE appears to be brewing at First Link Investments Corporation. The company yesterday terminated the service of its group financial controller Steve Lee with "immediate effect" and separately unveiled that458 words
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Article, Illustration338 2005-05-05 8 JEAN CHUA - Good earnings reports boost NOL, Cosco shares 3.5% By JEAN CHUA SHIPPING stocks were in play yesterday after several brokerages issued "buy" recommendations on Cosco Corp and Neptune Orient Lines (NOL) following good earnings reports. Cosco Corp was the fourth most active stockBLOOMBERG - 338 words
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263 2005-05-05 8 Bloomberg [SINGAPORE] Flextronics International, the world's largest electronics contract manufacturer, may buy 5.97 billion rupees (***** million) of shares it doesn't own in its Indian subsidiary to delist the stock. Flextronics International said it may acquire shares in India-based Flextronics SoftwareBloomberg - 263 words
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Article41 2005-05-05 8 UNIT TRUSTS FUNDS Legend: All prices are indicative: Broadly Diversified: I Narrowly Focused: Lower Risk:^ Low to Medium Risk: Medium to High Risk: Higher Risk open-ended: Before subdivision of units: After subdivision of unit: SP after stock split: N.A.-Non Dealing Day41 words
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465 2005-05-05 9 AMIT ROY CHOUDHURY - Alliance covers 7 countries, but could be expanded later By AMIT ROY CHOUDHURY MAINBOARD-listed Datacraft yesterday signed a systems integration partnership with Sun Microsystems to create solutions for the South-Asia region using technology and products from both companies. The alliance will cover465 words
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Article, Illustration347 2005-05-05 9 MICHELLE QUAH - By MICHELLE QUAH THE US Nasdaq market is a victim of its own success. Thanks to its high-profile listings like Google, Microsoft and Intel most people see the exchange as a technology bourse. But Nasdaq officials are working to change this perceptionSource: Based on G Factset Research Systems, Inc June 2004 - 347 words
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224 2005-05-05 9 DMX Technologies' unveiling of a near doubling in first-quarter net profit yesterday was accompanied by news of three deals one in Malaysia and two in China. For the three months ended March 31, the main-board-listed solution architect posted a 94 per224 words
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Article191 2005-05-05 9 CONTINUING its growth momentum, electronics components manufacturer Unisteel Technology's net profit increased 23.4 per cent in the first quarter. For the three months ended March, earnings attributable to shareholders were $7.2 million from $5.8 million a year ago. Earnings per share came to 2.85191 words
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COMPANY BRIEFS
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43 2005-05-05 9 CHINA Food Industries' fully-owned unitThye Seng Trading Co has been appointed an exclusive distributor of mainboard-listed Ocean International's surimi-based products and frozen fish fillet products in the Singapore market for one year starting April 27, 2005.43 words
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52 2005-05-05 9 RAFFLES Education Corp appointed its chief operating officer, Scott Chew Kok Chor, as deputy chief executive from May 1. Mr Chew, who has led Raffles Education's China operations since 2001, will be "leading the expansion of the business in existing and new markets", the52 words
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84 2005-05-05 9 OVERSEAS Union Enterprise said that Hema-OUE Otel Yatirim, a Turkey-incorporated company, ceased to be an associated company on April 22 following the sale of OUE's 20 per cent stake to the existing shareholders of Hema-OUE for US$l million, which will be84 words
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Page 6 Advertisements
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Advertisement44 2005-05-05 6 if |#^^L .iw > BEm <<^ M i^H^Pl^^HKM|^^^KMMßjBB^pW? „lil vfa,#- sMKI' DACC #01-03/04 NGEE ANN CITY. Tel 6735 0233 #03-02/04 NGEE ANN CITY Tel 6737 2552 J WS #01-10 PARAGON Opening July 2005 CHANGI AIRPORT T2 Departure/Transit Lounge South 2nd Storey, Tel: 6545 1101 HUGO BOSS44 words
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Advertisement43 2005-05-05 7 V f V" i i 1 j I *Jo continue enjoying the annual fee waiver for the second year, simply spend a minimum of 556,000 in the first year. Minimum income requirement for DBS Platinum Card is 5550,000. Other terms and conditions apply.43 words
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Page 9 Advertisements
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Advertisement1614 2005-05-05 9 Be The Finance Department of Tomorrow* Moving Finance Function from being a scorekeeper to being a business partner Unless you have been living between what they currently do and what the jmhhhhmhv and reporting tasks. in Outer Mongolia for the accounts through Frwc* Board actually expects from them. The Finance1,614 words
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Advertisement8 2005-05-05 9 Booster Capital Guaranteed Fund SGDRID 21/04/05 9,75 SGD8 words
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SINGAPORE MARKETS
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Article, Illustration526 2005-05-05 10 R SIVANITHY - STOCKS Measured pace of tightening, announced on Tuesday, eases some of the pressure on the equities market R SIVANITHY Senior Correspondent Bthe dip; ignore the small caps when they dip" might well be the preferred trading mantra for the local stock market this year. ItSource: Bloomberg - 526 words
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TRADES TO WATCH
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383 2005-05-05 10 OEI Hong Leong has raised his deemed interest in Super Cofleemix Manufacturing from 13.04 per cent to 14.08 per cent. This follows an open market purchase yesterday through Cargill Pte Ltd. Mr Oei is deemed to be interested in Super Coffeemix shares held383 words
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54 2005-05-05 10 WEE Cho Yaw's deemed interest in United Overseas Land (UOL) has risen from 12.17 per cent to 12.33 per cent after an open market purchase yesterday of 1.279 million shares at $2.***** each by Wee Investments. Mr Wee has a direct stake54 words
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58 2005-05-05 10 JEAN CHUA - Compiled by JEAN CHUA VENTURE Corp said its chief executive Wong Ngit Liong exercised options for 2 million shares at $8.05 each, effectively raising his stake from 5.97 per cent to 6.72 per cent. Mr Wong now holds 18 million shares in Venture.58 words
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Article, Illustration449 2005-05-05 10 OTHER SINGAPORE INDICES May 4 VALUE CLOSE BT OB/OS -201.00 -102.00 BT CADI -*****.00 +23.00 BT 10-day MA -*****.00 -21.00 All-SG Equities 552.20 +2.06 SG Equities Elect 133.15 -0.31 SG Equities Fin 1609.31 +1.99 SG Equities Prop 565.84 +0.70 SIMSCI 254.11 +0.83 SiMSCI Futures 252.20 +1.10 MOST ACTIVE STOCKS VOLUME449 words
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Article, Illustration979 2005-05-05 10 JOYCE KOH - Compiled by JOYCE KOH Cosco Corp Singapore May 4 close: $1.79 MERRILL LYNCH, May 3 STEADY as she goes: We maintain our "buy" recommendation and raise our price objective to $2.04 from $1.83 following Q1 FYOS results. We raise FYO6 earnings by 7 per cent as previous estimatesSource: Bloomberg - 979 words
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Article, Illustration504 2005-05-05 10 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent THE US dollar lost ground in overnight trading after the US central bank left key elements of its interest rate language unchanged, and the "will they, won't they" question for the Chinese yuan peg continued to hang heavy inSource: Reuters - 504 words
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BLUE CHIPS
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Article, Illustration1057 2005-05-05 11 WONG WEI KONG - The market is generally bullish about its prospects, with many analysts raising their earnings estimates, reports WONG WEI KONG WONG WEI KONG jmr eppel Corp, among Mr key blue chips, has I Jw been one of the most consistent in delivering good earnings. And itFILE PHOTO - 1,057 words
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Page 11 Advertisements
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Advertisement246 2005-05-05 11 Smother your mother with loveTw i .1 I i For reservations: Jk Caft Vic/Pool Bar-6311 8195 mK i| The Lobb y Lounge 6311 8193 All prices are subject to 10% service charge and prevailing government taxes, including GST. Caf6 Vic Smother Mum with all your love at the Carlton this246 words
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Advertisement50 2005-05-05 11 Mondial Rare Jewels Asscher-cut Heart-shape 3.11 carats Cushion-shape Oval-shape 5.06 carats Princess-cut 5.02 carats 7.97 carats 9.08 carats V MONDIAL House of Exceptional Diamonds and Rare Jewels Mondial Rare Jewels Pte Ltd 391 Orchard Road, #01-16 Ngee Ann City, Singapore *****2. Tel: +65 6734 2034, Fax: +65 6732 3162. www.mondialjewels.com50 words
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SINGAPORE NEWS
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598 2005-05-05 12 AMIT ROY CHOUDHURY - Study by IBM finds 15% of executives change jobs voluntarily By AMIT ROY CHOUDHURY A GLOBAL study on human resource trends by IBM has found that 15 per cent of executive level workers in Singapore voluntarily change jobs. This rate is one of the598 words
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Article, Illustration630 2005-05-05 12 SIOW LI SEN - Vincent Cheng replaces Eldon as chairman later this month By SIOW LI SEN THAT Vincent Cheng is the first Chinese person to become chairman of Hongkong and Shanghai Banking Corp, part of HSBC Pic, reflects the importance of China but it does notSTEVEN LEE/ST - 630 words
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315 2005-05-05 12 NANDE KHIN - By NANDE KHIN SINGAPORE needs to become the services hub for new wealth in Asia if it is to become the New York or London of the region, Second Minister for Trade and Industry Vivian Balakrishnan said last night. In315 words
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268 2005-05-05 12 LISA TAN - By LISA TAN The government has set aside $50 million to be spent over three years to help industry association projects. The money will help kick-start a new multi-agency called Local Enterprise and Association Development, or LEAD, which was launched yesterday. As268 words
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307 2005-05-05 12 CHEN HUIFEN - The firm acquires proven tech and applies them By CHEN HUIFEN SINGAPORE'S biomedical research hub at Biopolis has added another member to its community Sing Vax Pte Ltd, a newly formed vaccine development company. The company is actively hiring staff to help it develop vaccines307 words
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305 2005-05-05 12 LIZA LIN - By LIZA LIN The Sentosa Leisure Group and Forbes Inc will spend almost $50 million over the next four years to position Sentosa as an attractive destination for meetings, incentives, conventions and exhibitions (MICE). Sentosa will host the Forbes Global CEO conferences over305 words
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461 2005-05-05 12 VEN SREENIVASAN - By VEN SREENIVASAN AUSTRALIAN senior officials will be in Singapore this month to finalise discussions on the road map towards open rkies between the two countries. Transport Minister Yeo Cheow Tong revealed this on the sidelines of his visit to the site of461 words
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226 2005-05-05 12 RONNIE LIM - By RONNIE LIM IN A boost for the offshore oil/gas support and services industry here, Scottish company Seatronics Pte Ltd has set up a specialised equipment calibration laboratory at Loyang the first of its kind in the Asia-Pacific region. The Singapore226 words
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FOCUS: SERVICES
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Article, Illustration950 2005-05-05 13 LIZA LIN - SPECIALIST LOGISTICS PROVIDERS Clinical trial logistics providers are increasingly called upon to ply the global transport arteries. LIZA LIN reports LIZA LIN Pharmaceutical giants are related to clinical trial logistic providers by blood and we're not talking about kinship. Singapore's attraction as theARTHUR LEE - 950 words
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Page 13 Advertisements
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Advertisement635 2005-05-05 13 VOy Chateau Haut Bailly H uw- Chateau Haut Bergey (HeUne Garcins Property) fl T> t>FV T? AT TV NAMK Chateau Haut Brion I I m PsaH M r 1 #m I I Chateau Haot Brion Blanc fl JLM J.iJL LvJ y V Address: B*h.n> Haut Brion fl La Mission Haut635 words
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ECONOMY WATCH
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Article, Illustration395 2005-05-05 14 ANTHONY ROWLEY - Reforms expected to boost size of existing US$35b network By ANTHONY ROWLEY in Istanbul ASEAN Plus Three (namely China, Japan and South Korea) finance ministers meeting here yesterday were poised to announce major reforms to the regional network of bilateral currency swaps knownAP - 395 words
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526 2005-05-05 14 [PARIS] The global economy may pick up in the second half of this year since losing steam a year ago. International Monetary Fund (IMF) chief Rodrigo Rato said on Tuesday. However he said the recovery faces risk. Mr Rato said cut in526 words
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Page 14 Advertisements
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Advertisement1667 2005-05-05 14 PHOTONICS ,/NANOTECH World 2005 4World 2005 The 3rd International The 2nd International Exhibition on Photonics Exhibition and Conference Equipment and Technologies on Nanotechnology 4-6 MAY 2005 LEVEL 4 SUNTEC SINGAPORE 4th May 11.00 am to 6.00pm sth May 10.00 am to 6.00pm 6th May 10.00 am to 5.00pm Admission: Open1,667 words
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Advertisement221 2005-05-05 14 Mom UTfS: Because I said so. that's why! (X I say... '|r. W r„ g o tog si r <.u»„, i i,h.c.u»,ofu,„,t Mom, tkcmk you Mobimji hurts me more than it hurt* pUttlnCJ Up V^l/tK a Happy MotLfc's Mom doesn t grow on trees! JJ Mom *p. hope someday when221 words
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MALAYSIA/INDONESIA
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Article651 2005-05-05 15 S JAYASANKARAN - Recent controversial deals raise once again the issue of corporate governance in Malaysia By S JAYASANKARAN in Kuala Lumpur A CONTROVERSIAL corporate transaction that involves tycoon Syed Mokhtar Al-Bukhary has trained the spotlight on the increasing prominence given to corporate governance in Malaysia. Early this651 words
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Article197 2005-05-05 15 AFP [KUALA LUMPUR] Malaysian auto group DRB-Hi-com Bhd said yesterday that its USF-Hicom (Malaysia) Sdn Bhd unit has signed an exclusive threeyear truck distributorship agreement with India's Mahindra Ltd. DRB said that the accord may be renewed for another two years if USF-Hicom reachesAFP - 197 words
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268 2005-05-05 15 Bloomberg [KUALA LUMPUR] Malaysia's Employees Provident Fund, the nation's biggest buyer of government and corporate bonds, said returns from its investment in fixed-income assets and stocks fell in the first quarter as prices dropped. Poorer returns may hurt dividends on the retirement wealthBloomberg - 268 words
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Article, Illustration377 2005-05-05 15 Reuters, Bloomberg [KUALA LUMPUR] Malaysia yesterday reported a better-than-expected 16 per cent jump in exports for March, as the economy's main driver, electronics, defied gloomy talk of a slowdown. But imports, which are mostly used to make exports and are a leading indicatorReuters,; Bloomberg; AFP - 377 words
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Article158 2005-05-05 15 Reuters [JAKARTA] Indonesia will open bidding soon for a 680 km natural gas pipeline project on Java island as part of an effort to cut its reliance on oil, Mines and Energy Minister Purnomo Yusgiantoro said yesterday. "We will put the gas pipeline projectReuters - 158 words
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Page 15 Advertisements
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Advertisement955 2005-05-05 15 To adrerttoe call toil-free 1800 289 8822 Email: noticesesph.com.sg_ IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DELUCA PTE LTD (In Members' Voluntary Winding-Up) Company Registration No. *****5159N NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a955 words
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Advertisement173 2005-05-05 15 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF NUANSA LEISURE PTE LTD (IN LIQUIDATION) COMPANY REGISTRATION NO.: *****2765N NOTICE TO SUBMIT PARTICULARS OF DEBTS OR CLAIMS Notice is hereby given that the creditors of the abovenamed Company, whose debts or claims have not already173 words
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Advertisement247 2005-05-05 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SPEEDFAM-IPEC S.E. ASIA PRIVATE LIMITED (Registration No. *****5418H) (In Member's Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of Companies Act. Cap. SO that the Final Meeting of the Company247 words
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Advertisement335 2005-05-05 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF WIN FORTH INVESTMENT PTE LTD (Co Reg No. *****4784Z) (In Members' Voluntary Liquidation) At on Extraordinary General Meeting of the above Company held on 3 May 2005 the following resolutions were duly passed Special resolution 1.335 words
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GREATER CHINA/INDIA
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446 2005-05-05 16 Sons of Robert Ng, Tung Chee-hwa move to key posts [HONG KONG] The stage is set for a new generation of heirs to ascend two of Hong Kong's more closely held corporate thrones, reports the South China Morning Post.446 words
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Article, Illustration656 2005-05-05 16 Economic recovery, aggressive lending fuel upturn, but not all are alarmed [HONG KONG] Hong Kong investors are returning with gusto to an old pastime buying property. And the resulting rapid rise in prices has sparked concerns about a bubble, reminding someREUTERS - 656 words
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213 2005-05-05 16 BSNL to lay Port BlairS'pore undersea cable [NEW DELHI] To expand its international long-distance (ILD) business, Bharat Sanchar Nigam Ltd (BSNL) is planning to lay an undersea cable connecting Port Blair to Singapore, Business Line reported yesterday. This will be the second undersea cable project that BSNL would be undertaking213 words
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284 2005-05-05 16 Reuters [HONG KONG] China's banks need to substantially step up their profitability to sustain rapid asset growth and attract foreign investors, credit rating agency Standard Poor's (S&P) said on Tuesday. China's Big Four state banks have an average return on assetsReuters - 284 words
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311 2005-05-05 16 AFP [NEW DELHI] India wants the rapid roll-out of cheap Internet and broadband services to ensure more jobs in knowledge industries such as software development and outsourcing, India's technology minister said on Tuesday. "While Indian call centres are flourishing, a majority ofAFP - 311 words
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Advertisement62 2005-05-05 16 MERITUS MANDARIN SINGAPORE *-?-ilpiWt -A. *1' rwwhii^WUm HIGH TEA AT NEW HEIGHTS Indulge in international favourites at our scrumptious high-tea buffet. Adult: $30+++ Jrwy Child: $20+++ (jlljc Reservations: 6831 6258/88 \Jz _jnj— ■•WlvtM »>j J RMMurAM ««ih MERITUS MANDARIN A division of Overseas Union Enterprise Limited (Company Registration N0.*****0050E) 33362 words
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Advertisement30 2005-05-05 16 /vWVx JUuMV Cocy Ira' Cotiwui liwiil V hUK W AiOOUCi iuwoo Quo* JC'INGA Stop In Stafoad Rnaurant >20 Eut Caul Parkway Sbiapon *****! kMt Tit 6345 1111 far (34S 213130 words
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Advertisement33 2005-05-05 16 W mm The favourite brew of many, our beer promotion features Tiger and Heineken at only $s++ per glass and $20++ per jug. Promotion for May. Weekdays: 3pm-Bpm Weekends Public Holidays: All day33 words
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Advertisement51 2005-05-05 16 <rP d b u FIND THE ONES r THAT Fin G Recruit the right people through The Straits Times 1 3 C—-4— Recruit. Call 1800 289 8822 or email J f—A recruit@sphxom.sg to advertise. f *1? -J L J taassg c rr>t| Ih s -r" hb TU h H ,351 words
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ASIA-PACIFIC/WORLD
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599 2005-05-05 17 NEIL BEHRMANN - Steady sterling and stocks reflect Labour's lead in opinion polls By NEIL BEHRMANN in London [LONDON] Tony Blair is expected to lead the Labour Party to an historic third term British election victory today, even though the country's part in the Iraq599 words
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413 2005-05-05 17 MINISTER for Foreign Affairs George Yeo has urged Latin American countries to strengthen their ties with Asia through free trade agreements (FTAs), economic and political cooperation, and better air connectivity. "For the future, Latin America should move to the offensive and actively413 words
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290 2005-05-05 17 NYT {SEATTLE] New York Attorney-General Eliot Spitzer, who earned a reputation for investigating Wall Street insiders and big pharmaceutical companies, on Tuesday called for fundamental rewriting of the insurance law. "The insurance industry deserves real scrutiny," he said. Mr Spitzer is already investigating oneNYT - 290 words
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Article, Illustration38 2005-05-05 17 [VATICAN CITY]Pope BenedictXVl waves to pilgrims gathered in St Peter's Square here to attend the weekly audience yesterday. He departed from a prepared text to warn pilgrims against the temptations of the easy life. AFPAFP - 38 words
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226 2005-05-05 17 NYT [NEW YORK] Citigroup lenders made hundreds of high-cost home loans to customers with poor credit histories last year, even though the company had adopted a policy a year earlier to no longer issue such loans, the bank acknowledged on Tuesday. The number of thoseNYT - 226 words
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458 2005-05-05 17 AP [CHICAGO] Twenty-one years after Joe Mansueto founded Morningstar Inc in his Chicago apartment, the mutual fund and stock research company went public to an enthusiastic reception from investors. Morningstar's shares surged US$l.B5, or 10 per cent, to close at U5520.35 in an activeAP - 458 words
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167 2005-05-05 17 Bloomberg [LONDON] Britain's Financial Services Authority (FSA) said the movement of financial jobs outside of Britain may contribute to "material" risks to its work of reducing financial crime and protecting consumers. The main risks from moving clerical and telephone call-centre jobs stem fromBloomberg - 167 words
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340 2005-05-05 17 LATEST US DATA Bloomberg [WASHINGTON] Growth in US services, the biggest part of the economy, slowed in April after expanding by the most in three months. The Institute for Supply Management's (ISM) index for non-manufacturing companies, including financial services and retailers,Bloomberg - 340 words
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Page 17 Advertisements
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Advertisement27 2005-05-05 17 I ft I I Chinese I I youths. I I spend inq I I "future I I money I I 70% more than per capta^B I I27 words
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Advertisement158 2005-05-05 17 Our qualified pwfiiriowii can assist you with offshore structures, shelf companies ||E| and incorporations ki ALL jurisdictions including: British Virgin islands Cayman Islands Bahamas Mauritius Hongkong Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate planning. For158 words
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AVIATION
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Article, Illustration506 2005-05-05 18 VEN SREENIVASAN - It will not be exclusive to LCCs, users can cut their operating costs by 25% By VEN SREENIVASAN SINGAPORE'S low-cost airline terminal (LCT) will be open to both budget and full-service carriers. And operators that use the terminal can cut their parking and506 words
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311 2005-05-05 18 AP [BANGKOK] Thailand's prime minister on Tuesday halted the purchase of bomb-detecting baggage scanners for Bangkok's new international airport from a US company under investigation for allegedly giving Thai officials kickbacks for the deal. Prime Minister Thaksin Shinawatra has said he was awareAP - 311 words
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Article400 2005-05-05 18 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AK), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:400 words
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LOG BOOK
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66 2005-05-05 18 Reuters [NEW DELHI] Indian Aviation Minister Praful Patel said yesterday he expected the country's newly regulated airline sector to boom 20 per cent annually over the next five years. Mr Patel said he expected domestic and international passenger traffic to grow 20 per centReuters - 66 words
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110 2005-05-05 18 Reuters [SEOUL] Korean Air, South Korea's top carrier, reported a 70 per cent fall in quarterly profits yesterday, hit by hefty fuel costs and after booking an accounting error from misstating assets as a non-operating expense. Korean Air, the world's second-biggestReuters - 110 words
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63 2005-05-05 18 AP [PORT LOUIS] Air Mauritius will buy thrfce Airbus 340-300E at a cost of US$5O4 million, the airline's executive director said this week. Two aircraft will be delivered in October 2006 and a third in October 2007. The airline has an optionAP - 63 words
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287 2005-05-05 18 Reuters [SINGAPORE] Plane makpr Airbus has warned of a delay in delivering the A3BO double-decker, Singapore Airlines said on Tuesday, but the airline said it still aimed to begin flights in the second half of 2006. "We have been notified byReuters - 287 words
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200 2005-05-05 18 Reuters [DUBAI] Dubai's Emirates airline is considering an initial public offering to help its rapid expansion but the government is yet to make a decision, the company's chairman said in published remarks. "We have one new aircraft coming every month for the next fiveReuters - 200 words
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Article99 2005-05-05 18 Bloomberg [MILAN] Alitalia, Italy's largest airline, faces strikes this month by pilots and flight attendants protesting against the carrier's management and cost cuts. Alitalia's pilots will strike for 72 hours beginning on May 28, said Nelson Ferrera, a spokesman for the Anpac union that represents aboutBloomberg - 99 words
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294 2005-05-05 18 Bloomberg, Reuters [NEW DELHI] Boeing Co, the world's second-largest commercial airplane maker, said yesterday it is considering setting up a maintainence and pilot-training unit in India, following a US$6.9 billion order from the nation's biggest overseas carrier. "It is very critical, it's very important,Bloomberg,; Reuters - 294 words
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SHIPPING
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Article, Illustration336 2005-05-05 19 Bangkok ready to help create a force to police vital shipping lane AFP [JAKARTA] Thailand's Foreign Minister Kantathi Supamongkhon said on Tuesday that his country wanted to help strengthen security in the Malacca Strait, common hunting ground for pirates. Speaking after meeting Indonesian PresidentAFP; REUTERS - 336 words
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Article, Illustration455 2005-05-05 19 Bloomberg [OSLO] Actress Jane Fonda and other celebrities who successfully protested against the development of US nuclear power plants in the 1970s and 80s may have contributed to booming shipping rates today, a shipbroker said. Fonda, 67, inspired a movement that haltedBloomberg - 455 words
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429 2005-05-05 19 DONALD URQUHART - By DONALD URQUHART [SINGAPORE] A controversial draft amendment to an International Maritime Organisation (IMO) convention that would allow the boarding of any commercial vessel suspected of terrorism has moved one stage closer to becoming a reality. The IMO's Legal Committee met last week429 words
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Article, Illustration60 2005-05-05 19 [NICE, France] Easy Cruise One, the latest no-frills offering from easy Group, sits at the port of Nice, southeastern France. (Right) Easy Cruise's founder Stelios Haji-loannou poses in a suite aboard the ship, which will set sail tomorrow on its maiden voyage for a cruiseREUTERS - 60 words
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Article219 2005-05-05 19 Bloomberg [HONG KONG] Star Cruises Ltd, the world's third-larg-est cruise line operator, said it signed an agreement to have German shipbuilder Jos L Meyer GMBH build a ship for 391 million euros (SsB2B million). Hong Kong-based Star will pay a fifth of the cost fromBloomberg - 219 words
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Article119 2005-05-05 19 Bloomberg [DUBAI] Abu Dhabi National Tanker Co, a state-owned shipping company, may replace its eight-vessel fleet to comply with United Nations rules requiring ships to have two layers of steel in their hulls by 2010, a shipping official said. Abu Dhabi National Tanker, owned byBloomberg - 119 words
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908 2005-05-05 19 DAVID HUGHES - STRAIT TALK By DAVID HUGHES THE days of very cheap transport prices are over, at least according to one Senior liner shipping executive. Chris Bourne, managing director of MOL (Europe), in his keynote speech at Containerisation International's "Freight UK" conference last week, said908 words
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Article294 2005-05-05 19 SGX '000 May 4 Si »I- Vol CH Offshore .0.34 -0.01 541 Chuan Hup .0.73 unch 535 Cosco Corporation 1.79 0.06 ***** CWT Distribution .0.61 -0.01 15 Ezra Hldgs 1.26 0.02 125 Freight Links 0.08 unch 85 Grand Banks Yacht 0.95 -0.01 13 Java Holdings 1.05 -0.01 210294 words
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EDITORIAL & OPINION
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Article527 2005-05-05 20 EDITORIAL CONDITIONS may be right for Singapore-Malaysia air links to finally come under serious review. Low cost carriers (LCCs) such as Tiger Airways, Valuair, Air Asia and Jetstar Asia would love to get a slice of the potentially huge market for cheap flights between Changi527 words
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Article, Illustration882 2005-05-05 20 ROBERT SAMUELSON - Intimidating China to force it to revalue the yuan could roil US relations with Asia ROBERT SAMUELSON It's a sign of the times that well-known economist Fred Bergsten, an avowed free-trader, thinks the United States should threaten to impose a 50 per centBLOOMBERG; FILE PHOTO - 882 words
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Article, Illustration783 2005-05-05 20 DAVID MASON - THE BOTTOM LINE DAVID MASON The General Election in Britain is on today, to the profound relief of the electorate. The odds on New Labour have lengthened from 40-1 on to 33-1 on. The odds on more than 40 per cent of voters783 words
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Article, Illustration897 2005-05-05 21 HARISH MEHTA - Asian NGOs are asking their governments to elevate their case to WTO, but the battle can be long and hard HARISH MEHTA INDIA, and by extension owners of traditional knowledge everywhere, won a legal battle when the Kuropean Patent Office revoked a patent granted six yearsFILE PHOTO - 897 words
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Article, Illustration620 2005-05-05 21 RAVI VIRMANI - By RAVI VIRMANI AN INITIAL public offering (IPO) is a process not an end game. The IPO has too often been seen only in terms of an intense transaction that begins with the selection of investment bankers and the draftingAFP - 620 words
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Article230 2005-05-05 21 Raymond Kwong Singapore - LETTERS TO THE EDITOR Raymond Kwong Singapore I recently attended an AGM of a public listed company in Singapore. The chairman of the meeting was grilled on the company's dismal performance and lack of direction. As he could not give satisfactory answers, a so-called prominent independent230 words
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170 2005-05-05 21 Ang Hao Yao Singapore - Ang Hao Yao Singapore As most listed companies and their investors know, the last week of April is "AGM Season". This is the time when companies with December financial year-end hold their annual general meetings. The result, of course, is that there170 words
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Page 21 Advertisements
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Advertisement103 2005-05-05 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to bttetterOsph.coin.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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Page 21 Miscellaneous
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Miscellaneous356 2005-05-05 21 CRYPTIC CROSSWORD 1 The plummeting price that causes devastation? MB jHI Surfers them heavy 11 Quite a lot found in the mine, _JBL_ 12 One's under sail, seeking pros13 Send me a sign to define "Mys- 15 Plant book, say, on first class __—j PI 16 Called North America, England356 words
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Article2438 2005-05-05 22 SGX XTRANET 52-wk Tel last Vol Day Last Quote GrOiv Div GrVW Net MCap High Low Code Company Sale *1- ('000) High low toyer SaMor Cvr P/t Smil ********** 6065 Diamonds US*****cd 6095 IS DJ US Tech US3740 6097 IS MSCI Spore US555 6101 ISS&PSOO US8270 6170 SPDRS2,438 words
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Article5869 2005-05-05 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In S$ In USS %dy %yr dy *yr dy %yr May 3 Index Change Change Change Chang* Change Change Work) Index Preliminary 836.1 0.1 -1.9 0.3 -3.1 0.2 -3.5 J EAFE Preliminary 774.5 0.4 0.2 0.6 -2.7 0.5 -3.1 Europe5,869 words
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Page 24 Advertisements
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Advertisement1866 2005-05-05 24 IMPORT NORTH AMERICA |l~|| AUSTRALIA/NEWZEALAND I SUPER BHUTTLE EXPRESS (SSX) 1 VESSEL VOY IGB SIN PKG -n II OOCL TIANJIN OIWIS 20/04 OS/OS 10/05 PIO NiDUOYD KOli 47W16 27/04 15/05 17/05 AIR WHIM IM 23/04 25/04 27/04 21/04 03/05 01/05 10/05 OOC ATLANTA 02W17 04/05 22/05 24/05 /0S IS/#S API1,866 words
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Advertisement789 2005-05-05 24 lINITOASIA RORQ SERVICE VtSSfl/VOT RAMPOO) HBGHTW HG KCH UB I SN I JKT Slum EXPRESS 39 30 4.25 23/04 25/04 27/04 STRAITS VENTURE 09/0S IS 3.2 22/04 01/05 03/05 05/05 STRAITS VPCTUREIO/0S 15 3.2 07/05 10/05 IMIHUUAN RORQ SUNK* 1 vßsa/vor ufom I hbgwtct» la ism jkt m srp wa789 words
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Page 25 Advertisements
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Advertisement1153 2005-05-05 25 MOi Combines v a range of shipping modes to ensure timet/, ratable services covering major ports in > Norm America, Europe, Japan, Asia, Africa Oceania. Alse eccqrt htrrAria (lyn to: KUSAN KWANGYANG SHANGHAI YANTUN XIAMBI QMGOAO KUWAN JAKARTA SURABAYA KAOHSKING lAMGKOK lA£M CHAIAN6 jWOWMMH PASit 6UPAHC PBIAMG fOtT KBAM6 For1,153 words
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Advertisement1175 2005-05-05 25 VESSEL VtSSa WY SIN KG KUQ LUNG ilflaL _LQ/5 1 l l/sl 13/5 08" IMI ZZZEZTI GOLDEN GATE jO7N_ 17/5 18/5, 20/S _9gJ Ml GOLDEN TRADE 507N M/S I 7S/S 27/5 I WEW DYNAMI<: M7> 26/5 78/5 (alw|tit-IMS*— 'VSt ailing boiti Noi* West pod VESSEL VOY PKG SIN HKG SHA1,175 words
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Advertisement802 2005-05-05 25 WEEKLY EXPRESS SAILING SCHEDULE I ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS I vessel 1 voy I sih I pjuangl Colombo 1 n sheva 1 Colombo I lUtltlDCt OQ9W J 06JUII j 07JUM j IQJUW j I3JUN j 16JUW also acqptmc Fa TO coo* luncomt on* Colombo) and802 words
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Page 26 Advertisements
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Advertisement747 2005-05-05 26 ufiu WALLENIUS WILHELMSEN website: http://www.2wglobal.tom VESSEL "VOY RAMP HEIGHT SIH UC IMP "hOU«~ MIA SAV »*L ORE HYC NIW ~ioT" TAMPA AFSII 4201 MS 6.4 M 06/05 30/05 09/0* 13/06 17/06 15/06 19/06 TARAGO AFSI2 3201 ms 6.4 M 14/05 10/06 19/06 23/06 27/06 25/06 07/07* TAMERLANE AFSIS 3201 ms747 words
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Advertisement1354 2005-05-05 26 VESSEL VOY SIN PGU JffSHL XQX 51K JU 70/04 P*C MAKASSAR Uli 2JZSH 2SZM PAC BANOA 14SM "'V* Mtuil AIM 01 /OS 04/05 CSF 2301 0113P 29/04 30/04 PkCtmtkH 9232 flliii QtM PACBANDA UmZ 30/04 01/05 PACPAUWAN 719S 05/05 08/05 csf 2301 oi MP j M j J PAC BANDA1,354 words
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Advertisement612 2005-05-05 26 BSA x =.V^^ MYANMA ■n FIVE STAR LINE (Myanmor National Line) Loading for Yang on VESSEL VOY SIN PKI PEN PGU PAGAN 341W SU> HPA-AN 337W SU) IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKI: 03-*****388 PEN: 04-*****15 ACCEPTING CONVENTIONAL CGO VESSEL VOY HKG SIN PGU PKI KUC UON HEART 131 SU)612 words
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THE BUSINESS TIMES SHIPPING TIMES
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BizIT
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Article, Illustration621 2005-05-05 28 RAJU CHELLAM - BT exclusive Its infrastructure is ideal for testing networking products, he tells RAJU CHELLAM in Las Vegas RAJU CHELLAM IN life sciences and biotechnology, Singapore has a string of companies that carry out clinical trials before rolling out the drugs to621 words
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362 2005-05-05 28 RAJU CHELLAM - By RAJU CHELLAM in Las Vegas WHAT'S the single most worrying factor for companies worldwide today? Security, or lack of it, according to John Chambers, CEO of Cisco Systems Inc. In his keynote address at the annual industry "Interop" show here, Mr Chambers said362 words
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Article, Illustration299 2005-05-05 28 ROLAND LIM - Industry getting more complex, R&D costs growing fast By ROLAND LIM WITH the semiconductor industry becoming increasingly complex, forging partnerships is an essential strategy for industry players, according to Chia Song Hwee, president and chief executive of Chartered Semiconductor Manufacturing. Speaking at a semiconductor industry299 words
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Article326 2005-05-05 28 AP [NEW YORK] Wireless developers plan to work together to meld Bluetooth, the short-range technology that links cell phones and cordless headsets, with an emerging technology designed to beam video and other large content short distances between TVs, home entertainment systems and computers. The plan, whichAP - 326 words
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254 2005-05-05 28 NYT [REDMOND, Washington] After years of indecision on whether to build a satellite campus 15 miles away in Seattle or in nearby Issaquah, Microsoft Corp has pledged to keep its growing empire in this community, where it has flourished since 1985.NYT - 254 words
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Page 28 Advertisements
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Advertisement225 2005-05-05 28 HM&K »a. 9NH|: TT< 1 mmmr liESIkB I A I; I v IB MSm' J" ir m SI& H vpr &g7V f&MwW \jli I Jg^MBBB 4M| with Adobe 8 Acrobat® 7.0 business secrets will only fall into the right hands. Complete ease of mind never felt this good. advanced security225 words
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Advertisement23 2005-05-05 28 According to the Economic Development Board, Singapore has 40 chip design centres, 14 wafer fabrication plants and 19 chip testing and assembly operations.23 words
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PROPERTY
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355 2005-05-05 29 Consultancy says supply of retail space, hotel rooms won't be enough [SINGAPORE] Singapore's property sector be it residential, commercial, or retail will experience a boost from the development of the two integrated resorts (IR), said property consultancy Savills Singapore. Examining the IRs* impact355 words
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Article, Illustration793 2005-05-05 29 HUI-YONG YU - Founder says it will be able to sell borrowed assets to profit from a drop in prices By HUI-YONG YU Bloomberg THOMAS Barrack, a real estate investor who has spent more than US$5 billion since 1991 buying everything from Atlantic CityBloomberg; BLOOMBERG - 793 words
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Page 29 Advertisements
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Advertisement36 2005-05-05 29 Good-Class Bungalow Botanic Gardens vicinity Cul-De-Sac private road Serene environment with mature trees Approx. 16,000 sq ft Viewing by appointment (Principals only, no agents) Contact: Consultant, Investment Sales Asian Appraisal Co Pte Ltd Tel: 6252 586636 words
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Advertisement57 2005-05-05 29 EBUSINESS SPACE FOR LEASE AT Nlll CORPORATE BUILDING 50 Kallang Avenue 4 30,000 sq ft fully fitted business space on one floor 4 4,400 sq ft also available 4 Close proximity to CBD 4 8 mins. walk to Kallang MRT 4 Ample parking space 4 Garden Landscape No• I Gift*57 words
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Advertisement106 2005-05-05 29 HB ROBINSON ———113 IOIINiON IO A P Prime office space for lease 1,700 to 8,000 sq ft 5 minutes to MRT Competitive rental Call 6748 7522 for enquiries 49 HO lEI GROUP J J| HP IV1(L r Jg|SjEL& S 888 f I Br B |Km fl Egg Rc j j106 words
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Advertisement237 2005-05-05 29 No 35 Leedon Road, Singapore *****2 Site Area: 4,080.9 square metres Tenure: Freehold This is a rare opportunity of developing exclusive bungalows in the classy residential district of Leedon. A limited edition GCB gem. The property is to be sold with an existing tenancy. Tender Closing Date: 28th June 2005,237 words
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PROPERTY WATCH
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Article, Illustration830 2005-05-05 30 ARTHUR SIM - ARTHUR SIM says finding a tenant for your property could be tough, but it pays to be ready ARTHUR SIM THOSE who own investment properties will want to rent these out as soon as they can. The only obstacle might be that the latestFILE PHOTO - 830 words
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1177 2005-05-05 30 Brought to you by HSBC H PROJECT NAME/ PROP CONTRACT TENURE BUIIJ-WIAND PRICE PSF STREET NAME TYPE DATE AREA*(SQ Ffl (St'OOO) ($0 Distridl NON-LANDED The Sail At Marina Bay Apt 04/04/05 99 592 496 838 The Sail At Marina1,177 words
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Page 30 Advertisements
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Advertisement108 2005-05-05 30 Got the right home? Now get the right home loan. Buying a house in Singapore is a heavy investment However, you can still have the freedom to live life the way you want, with HSBC home loans. Enjoy these benefits when you take up an HSBC home loan: Competitive interest108 words
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Advertisement31 2005-05-05 30 HSBC<2> The world's local bank This is a fortnightly series brought to you by HSBC. For a free property valuation or a quick assessment of your loan requirement, please visit www.hsbc.com.sg31 words
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