The Business Times, 26 May 2005

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Total Pages: 32
1 32 The Business Times
  • 16 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial .com.sg MICA (P) 069/03/2005 Thursday May 26,2005
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  • 656 1  -  But small firms more pessimistic about prospects By DANIEL BUENAS [SINGAPORE] The government may have cut its fullyear GDP forecast for 2005, but businesses here remain optimistic about business prospects for the next six months, according to the BT-Global Business Insights business climate survey. The
    Source:  -  656 words
  • 136 1 STI 2,***** (-14.73) ST INDEX FUTURES 2,175.00 (unch) SIMSO ***** (-1.79) SIMSO FUTURES ***** (-2.40) MARKETS Wednesday Change KLSECOMP 870.10 -14.24 NIKKEI 225 11.014.43 -119.22 HANG SENG 13,562.06 -157.26 SET INDEX 660.18 -3.48 JAKARTA COMP 1,049.056 +3.906 MANILA COMP 1.869.50 -11.58 SEOUL COMP 941.30 -10.31 SHENZHEN 8 235.29
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  • 624 1  -  But it's willing to discuss more traffic rights: Cheow Tong By VEN SREENIVASAN [SINGAPORE] Indonesia won't relax its ban on foreign budget airlines but is willing to talk about expanding air-traffic rights, Transport Minister Yeo Cheow Tong said yesterday. Speaking on his
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  • Page 1 Advertisements

  • TOP STORIES
    • 761 2  -  By ANTHONY ROWLEY in Tokyo AMID rising diplomatic tension between Japan and China, Singapore Prime Minister Lee Hsien Loong and his Malaysian counterpart, Abdullah Ahmad Badawi, yesterday urged both sides to exercise restraint. Speaking at a Tokyo conference on the future of
      DESMOND WEE/ST  -  761 words
    • 431 2  -  China will be major market for its products By ANTHONY ROWLEY in Tokyo JAPANESE giant Sumitomo Chemical will invest 20 billion yen (*****.7 million) in new plants that will make Singapore the largest production site in Asia for monomer and polymer
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    • 661 2 Citiraya safe from creditors for 2 months CITIRAYA Industries was yesterday granted two months' reprieve from its creditors so that it can conclude talks with potential investors. The announcement comes after the deadline to repay a $38.6 million debt to DBS Bank ran out on Tuesday, after which
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    • 435 3  -  Court gives troubled firm grace period to secure potential white knights By LIZA LIN [SINGAPORE] Citiraya was yesterday granted two months' reprieve from its creditors so that it can conclude talks with potential investors. The ailing electronic waste recycling company lately saw rescue
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    • 565 3  -  By DANIEL BUENAS [SINGAPORE] Small companies are doing better overseas than at home, a survey has found. The Business Times-Global Business Insights survey formerly the BT-NUS business activity survey also shows that while big companies reported better sales, profits and new business in
      Source:  -  565 words
    • 591 3  -  By SIOW LI SEN [SINGAPORE] Temasek Holdings is looking for more joint ventures in Korea, India and China for its fund management arm as one way to overcome the entry barriers to the booming Asian fund management industry. Temasek's asset management
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  • Page 2 Advertisements
    • 385 2 y demands Internationally renowned lecturers will facilitate logistics their supply this 11-day training programme, scheduled over a chain management (SCM) capabilities and add period of three months. Participants will have the value To their customers in delivering cost-effective opportunities to work with these lecturers on possible multi-modal supply chain solutions.
      385 words
    • 122 2 v I IK Inlw -M nnrai fc fer""« y mam rat nqnc J C«l 1800 289 8822 f 1 Hf AMH >'/n/ J rKiuW»n>h.CTW.if 1 to advertise. cA J l Our quilHhd profecsionab BBkj J can assist you with ofthw jurisdictions hftdudlnpc 0 ftritish Virgin (stands Cayman Islands Bahamas jyUiiiltius
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    • 101 2 Our Client is a fast growing established College of Nursing in Metro Manila, Philippines offering a Bachelor of Science in Nursing. The present owners are looking for investors interested in expanding the business. TRAINING AND CORPORATE SERVICES (TACS) INC Telephone: (632) 753-1575 Email: corpOtacs-ph.com II Receive money on the same
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  • Page 4 Advertisements
    • 1159 4 One size doesn't fit all* when it comes to safe IT Faced with an ever increasing number of threats from cyber- Activities include aligning security initiatives with their associated cosh Last but not least, the Respond phase helps a company prepare, react, terrorism, corporate espionage, hijacks, logic bombs, trojans, justifying
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  • COMPANY NEWS
    • 452 4 Reuters CHINA Aviation Oil (CAO) creditor SK Corp said yesterday that it supported the troubled jet fuel supplier's proposed debt repayment scheme and that it expects the plan to be approved by creditors in a June 8 vote. In a move signalling the
      Reuters  -  452 words
    • 510 4  -  S'pore plans to let local investors continue to trade Australian shares By CHLOE CHOY THE Singapore Exchange yesterday said that it would continue to facilitate the trading of Australian shares despite its Sydney counterpart pulling the plug on a reciprocal
      510 words
    • 636 4  -  HOCK LOCK SIEW By ANGELA TAN INFORMATICS Holdings is on the road to recovery, the education services provider said on Tuesday as it unveiled its full-year financial results. Among the reasons it cited were quarter-on-quarter improvement in performance. For sure, quarterly net losses
      636 words
    • 369 6  -  KepCorp associate to leverage on Helm's expertise for overseas push By MICHELLE QUAH IN a move to tap land-trans-port opportunities, Keppel Corp associate kl Ventures is acquiring US-based Helm Holding Corporation for US$472 million. The Singapore-listed venture capital group has formed two
      369 words
    • 384 6  -  Services start with Shenzhen branch, Shanghai and Beijing units expected to be next Reports by SIOW LISEN DBS Bank yesterday launched its consumer banking business in China using its newly relocated Shenzhen branch. DBS said it plans to extend similar services to branches
      384 words
    • 411 6 INVESTOR panic following reports of negative performance of some hedge funds is beginning to recede, a hedge fund player said yesterday. And the biggest challenge that players continue to face is investor misunderstanding of the hedge fund industry. According to Patrick
      411 words
    • 317 9  -  By CAROLYN QUEK NTUC Income has launched a $300 million Islamic fund the largest in Singapore and its second and there are plans to increase it to $600 million by the end of the year. Called the Amanah Fund, it is also the first to
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    • 342 9 A $20.9 million gain from divesting leasehold properties helped Boustead Singapore post a 54.8 per cent increase in group net profit to $20.6 million, a record performance. And the group expects to surpass this performance in the current financial year, thanks to its
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    • 251 9  -  By LISA TAN SUFFERING post-Sars trauma and reduced advertiser budgets, Yellow Pages (Singapore) Ltd saw a fall in both revenue and net profit for its financial year ended March 31, 2005, The company's revenue compared with an 'illustrative' statement for the previous year dipped
      251 words
    • 305 9  -  Its Bio Matrix drug-eluting stent aces 12-month clinical trial By AMIT ROY CHOUDHURY FAVOURABLE preliminary results from a clinical trial have paved the way for homegrown Biosensors International Group's early entry into the global market for drugeluting heart stents. Disclosing this yesterday, the newly
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    • 394 9  -  It cites higher turnover, improved margin and better cost controls By KALPANA RASHIWALA COURTS Singapore has turned around to a $3.6 million net profit for the year ended March 31, after last year's $1.8 million loss. The furnishings and electronics retailer says
      FILE PHOTO  -  394 words

  • Page 5 Advertisements
    • 117 5 j if* "i THE BELVEDERE. YOUR BEST VANTAGE POINT FROM THE MOST EXCLUSIVE PRIVATE ESTATE IN THE EAST. I ii Picture breathtaking sea views and park greens, at every waking moment. Absolute convenience, at any time. Quality family living, at your doorstep. Now picture having it all for a lifetime.
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  • Page 6 Advertisements
    • 166 6 1^ The AIM Group is an integrated provider of electronic manufacturing eervlcoe (EMS) specialising in medium to high-end and performance-critical product applications. We service original equipment manufacturer (OEMs) MNCa In (I) Aerospace-avionics (II) Medical life and analytical sciences (ill) Electronics Data Storage (Micro-Hard Diak Drives) and Semiconductor and (iv) Telecommunications
      166 words
    • 1148 6 mOBBk Advanced integrated Manufacturing Corps Ltd. vfF G SI (RagtoCaHon no. *****6216 C) (Incorporated In Stogapota on 80 April 2004) Invitation in raapaet of 171,000,000 Stwrea of 810X25 aaeh comprising 150,000,000 Not* Sharee and Vendor Sharaa aa fodowas (a) 10,000,000 Offar Sharaa at 810.20 aaeh fay way of pubHo offar;
      1,148 words

  • Page 7 Advertisements
    • 21 7 The Oriental, Singapore 5 Raffles Avenue, Marina Square, Singapore *****7. Telephone: +65 6885 3082 Facsimile: +65 6337 8449 Email: Orsin-melt@mohg.com www.mandarinoriental.com
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  • GLOBAL TRADER ROUNDTABLE
    • 2092 8 OVERVIEW DERIVATIVES trading is becoming an essential tool for companies to manage their risks and to turn volatile markets to their advantage. But, if not properly managed, using derivatives can sometimes bring down an entire company. How can businesses reap the most benefits from derivatives trading and
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  • Page 8 Advertisements
    • 115 8 ONLY FOR THOSE INTENT ON y CREATING RIPPLES IN GLOBAL TRADE f siobajl TRADER The Future of International Trading, Today. SUMMIT V 2005 Expand global networks with new partners. Gain insights to future trends. Tap into trade opportunities. The inaugural Global Trader Summit 2005 will bring together the international trading
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    • 98 8 Sinppam has grinad moognidon as a npuiafale tnda hub vrfth a iifcMliucUitShjppoittuftlimt liidhj sartor mHifcuted about 1.7% to our GDP in 2004 and gananlad SSS.3 fatten of vak*addrttotwaaoncnylntnmofbodidnotandhdtactQDnltMlioa Tbda& w§ am homa to a dhtra pod of mew than 170 global rtdhg uaiyaries umlrtdriy in energy metab, agricommodMcs. jog consumer
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  • Page 9 Advertisements
    • 30 9 Booster Capital Guaranteed Fund SGDRID 12/05/05 9,61 SGD Releasing a financial statement? Call 1800 289 8822 or email notices@sph.com.sg to book your advertisement in our newspapers now. lklfS¥¥rUlra 2 IkLfllllM
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    • 138 9 Mmif iNPUiii. The image people. Join the leader in Promotional Advertising Marketing A leading retail franchisor in US$5O billion Promotional Advertising Industry from USA is seeking suitable candidates as Master Franchises in Singapore and Malaysia. This is an unique and proven retail franchise model that blends 5 profit centers into
      138 words
    • 480 9 ss AM ERICAN EXPRESS BANK (ft wholly ewned lubcidMry ofAimricni bpmi Company) SPECIALISTS IN INTERNATIONAL FINANCIAL SERVICES International Aimricw Express Tower, World Financial Canter, New York NY *****-2300. Singapore Branch: 16 Collyar Quay, Singapore *****8 Telephone: *****833 Telex: RS2H72 Cable Address: AMEXBANK SINGAPORE REPORT OF ERNST YOUNG LLP INDEPENDENT AUDITORS
      480 words
    • 382 9 CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2004 CONSOLIDATED BALANCE SHEET 31. (Millions) 2004 2003 ASSETS Cash and noninterest-earning deposit! with banks 446 SSI Interest-earning deposits with banks SS7 1,122 Federal funds sold 416 446 Trading assets 794 806 Available-for-sale securities 3342 Loans, less reserves: 2004, $87; 2003, $84 6,757 6,238
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  • SINGAPORE MARKETS
    • 500 10  -  STOCKS Jardine C&C, Jardine Matheson, DBS, UOB and City Development are among the top losers TEH HOOI LING Senior Correspondent SINGAPORE shares traded weaker yesterday as more signs emerged to confirm the generalised slowdown in the global economy. The Straits Times Index (STI) fell
      Source: Bloomberg  -  500 words
    • 739 10 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on May 25 and earlier) Subsantial No of Price SHAREHOLDING Shareholder Buy/ Shares Per Before After Stock Trans Date Director Sell '000 Shr COOP) fOOO) Chip Eng Seng 25-May-05 Lim Tian Moh Sell 2700 na 3339S 5.50 ***** 5.06 UOL 25-May-05 Wee
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    • 190 10  -  By ALEXANDRA HO THE Capital Group Companies, which has a substantial deemed stake of 6.2 per cent in Unisteel Technology, has raised the holding in the electronics components manufacturer to 8.3 per cent. The US mutual fund manager bought 5.3 million Unisteel
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    • 1054 10  -  Compiled by TEH HOOI LING Raffles Education Corp May 2S close: 72 cents GK GOH, May 25 WE believe Raffles Education Corporation (REC) has the right strategy and operational structure to capitalise on Asia's growing education market. Not surprisingly, China and India are the two markets that will
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    • 511 10  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar ended a bit higher in a quieter session all round in Asian currency trading yesterday, as news out of Europe continues to give more cause for concern about currencies like the euro and pound. Locally,
      Source: Reuters  -  511 words

  • MID CAPS
    • 735 11  -  Company's optimistic outlook is shared by four brokerage houses which issued 'buy' calls, writes WONG WEI KONG WONG WEI KONG RECORD sales and earnings for its latest quarter have earned electronics manufacturer MMI Holdings the thumbs-up from the market. Earlier this month, the company
      CHRIS LOH; Source: Bloomberg  -  735 words
    • 31 11 LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ Lower Risk;^ Low to Medium Risk;& Medium to High Risk;** Higher Risk;open-ended;+Before subdivision of units;After subdivision of units;SP after stock split N.A-Non Dealing Day
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  • SINGAPORE NEWS
    • 628 12  -  Review committee aims to submit its recommendations by July: minister By CHEN HUIFEN in Helsinki SINGAPORE aims to boost its research and development spending to 3 per cent of gross domestic product (GDP) by 2010 as part of
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    • 417 12  -  SMALL AND MEDIUM BUSINESSES By JEAN CHUA CHANGES in the Singapore economy are forcing small and medium-sized businesses to relook the traditional relationships they have with large multinational corporations, says the Singapore International Chamber of Commerce. So this year, the chamber says, it will
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    • 194 12 THE total operating surplus of the health services industry in 2003 rose to $842 million, 15 per cent higher than the previous year, according to a survey released by the Department of Statistics (DOS) yesterday. Correspondingly, operating surplus for each establishment grew by
      194 words
    • 361 12  -  By NANDE KHIN WITH the government's help, the momentum for the promotion of entrepreneurship in Singapore is already under way, but eventually, the momentum will have to be sustained solely by the private sector, said Indeijit Singh, chairman of the.FiWM ftdUfwi €rociblei> yesJ-.,
      361 words
    • 318 12  -  By SAMUEL EE MERCEDES-BENZ is investing one million euros (Ss2.l million) in an aftersales service campaign for its South-east Asian dealers, the first time the German luxury carmaker is doing something like this region-wide. DaimlerChrysler, which makes Mercedes-Benz, yesterday announced that the
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    • 263 12  -  By LIZA LIN THE typical Asian traveller to Singapore visits for about three days and spends about US$l3O mostly on shopping. According to the latest Mastercard Asian lifestyle survey, they are also likely to be women. Both the traveller shopper and female traveller
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    • SINGAPORE ROUNDUP
      • 67 12 SINGEX Exhibitions yesterday said more than 10,000jobswillbe available at its Career Choice 2005 exhibition. While it is mainly targeted at professionals seeking new opportunities, there will be openings for "fresh entrants to the job market who are not your average 0 or N
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      • 59 12 SINGAPORE Power subsidiary SP Power Grid will set up an advisory panel of representatives from key industries to provide a forum for collaboration on power quality issues. It will also roll out a programme under which its customer managers will serve as a
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      • 35 12 SINGAPORE has ratified the Stockholm Convention on Persistent Organic Pollutants and acceded to the Rotterdam Convention on the Prior Informed Consent Procedure for Certain Hazardous Chemicals and Pesticides in International Trade.
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    • 409 12  -  SINGAPORE ARTS FESTIVAL By NGIAM YING LAN, CHEAH UI-HOON IN one of the scenes in Amber, a woman slinks around coquettishly in a scarlet negligee, teasingly recounting her sexual exploits. Shocking? Perhaps, if you didn't expect a play from China to address sexual
      ARTHUR LEE  -  409 words
  • Page 12 Advertisements
    • 646 12 o MACQUARC MACQUARIE BANK LIMITED (ABN 46 008 583 542) (Incorporated under the laws of Australia) NOTICE TO WARRANTHOLDERS To all Holders of: (I) 50,000,000 European Style Cash Settled Call Warrants relating to the ordinary shares of Keppel Corporation Limited expiring on 11 July 2005 (KEPCORP MBL ECW*****1); (ii) 40,000,000
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  • Page 13 Advertisements
    • 20 13 'fi l f rW- lifflSP|^^^^^^^^^^^^^Hß9|n9|3llßjHlMßß^B3B^R3||MMMh|^^^^^| f''*f ..-f i> |> '^R-•; #'l'f MIEbIMI^9mV^9 HH'^HCVH IMBBfiI j. -B I I I,W-J iyj, v
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  • FOCUS: MANUFACTURING
    • 939 14  -  DATA STORAGE S'pore's data storage market is worth about USsloom and accounts for about 5% of the Asia-Pacific storage market, reports RAJU CHELLAM RAJU CHELLAM AFTER almost three years of near-stag-nation, companies and government undertakings are once again spending on data storage, both in Singapore and
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    • 516 14  -  By RAJU CHELLAM THE world's largest hard disk drive (HDD) maker, Seagate Technology, is on a roll as demand for storage soars for servers as well as for small devices like MP3 players. The company is ramping up its manufacturing capacity, adding new
      FILE PHOTO  -  516 words
  • Page 14 Advertisements
    • 768 14 HSBC Private Bank (Suisse) SA Annual Results for 2004 Ihhhhhh mmmamm (In CHF thousands) (In CHF thousands) December 31 Yew Ended December 31 2004 2003~ 2004 2003 I ASSETS Interest Income Liquid assets 54,013 40,940 Interest and dividend income 517,789 424,307 Receivables arising from Interest and dividend income from money-market
      768 words

  • ECONOMY WATCH
    • 565 15  -  Good showing by services sector and agriculture, robust consumer spending By PAULINE NG in Kuala Lumpur THE Malaysian economy grew more strongly than expected in the first quarter, expanding 5.7 per cent on buoyant performances particularly by the services sector and agriculture. Consumer
      565 words
    • 518 15 Notes show short-term softness won't stop hikes NYT [WASHINGTON] Policy-makers at the Federal Reserve brushed aside evidence of an economic slowdown earlier this month and made it clear they wanted to keep raising interest rates in the months ahead. Notes from their meeting
      NYT  -  518 words
    • 421 15 NYT [PARIS] Differences in economic performance are widening among Europe, Asia and the US, with possible long-term consequences for global growth and the stability of the dollar, the Organisation for Economic Cooperation and Development (OECD) warned this week. The US economy is enjoying
      NYT  -  421 words
    • 191 15 AP [BRUSSELS] The European Union (EU) head office was to decide yesterday on whether or not to escalate trade action in its textile dispute with China, launching bilateral consultations with Beijing that could pave the way for restrictive measures. EU officials said
      AP  -  191 words
  • Page 15 Advertisements
    • 1937 15 S BEAMSSM47 /X\ 10 DES VOEUX ROAD, CENTRAL HONGKONG CONSOLIDATED BALANCE SHEET AS AT 31ST DECEMBER 2004 CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2004 2004 2003 2004 2003 HKS'OOO HKS'OOO HKS'OOO HKS'OOO ASSETS Interest income 5,*****0 3,763,729 Cash and short-term funds 39,877,738 36,033,510 Interest expense
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  • MALAYSIA/INDONESIA
    • 563 16  -  Negative sentiment drags down index 14 points to 870 points By PAULINE NG in Kuala Lumpur THE general malaise in the Malaysian stock market continued to take its toll yesterday with three counters hitting limit down and spooking the rest of the market. Given yet another
      563 words
    • 313 16 AFP. AP [BANDAR SERIBEGAWAN] Brunei's Sultan Hassanal Bolkiah has appointed his son, Crown Prince Al-Muht-adee Billah, as senior minister in a major cabinet revamp. triggering speculation about the succession timetable. The 58-year-old sultan, one of the world's last absolute monarchs, announced the changes
      AFP.; AP  -  313 words
    • NOTE BOOK
      • 74 16 Reuters [HONG KONG] Hong Kong interim leader Donald Tsang had resigned in order to run for the city's top political Job in July elections, the government said yesterday. Mr Tsang has the blessings of Chinese^' leaders and will win the tightly controlled contest as
        Reuters  -  74 words
      • 79 16 Bloomberg [JAKARTA] PT Bank Mandiri denied a report that it had proposed a merger with smaller rival PT Bank Negara Indonesia. Mandiri proposes to combine with Bank Negara Indonesia to form "a new, stronger" bank, Dow Jones Newswires reported, citing a statement by Mandiri
        Bloomberg  -  79 words
      • 63 16 Bloomberg [KUALA LUMPUR] Maxis Communications said first-quarter profit rose 35 per cent as it signed up more customers and revenue from data services increased. Net income rose to RM439 million (*****.5 million), or 17.7 sen a share, in the three months ended March
        Bloomberg  -  63 words
      • 57 16 Bloomberg [HONG KONG] Hutchison Whampoa agreed to buy back NTT DoCoMo's entire stake in Hutchison Telecommunications International for HK$ 1.3 billion (***** million) in cash. It will pay HK$6.9l for each of the 188 million shares DoCoMo has decided to sell, according to
        Bloomberg  -  57 words
  • Page 16 Advertisements
    • 1085 16 ©IS IH ft Exceed. Excel. HANG SENG BANK (Incorporated in Hong Kong SAR with limited liability) I Publication pursuant to section 25(2) of the Banking Act CONSOLIDATED PROFIT AND LOSS ACCOUNT CONSOLIDATED BALANCE SHEET for the year ended 31 December 2004 at 31 December 2004 ■H 2004 2003 2004 2003
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    • 15 16 IffcTitTl Lianhe Zaobao I Helongjiang's executive I I Hadaqi Industrial I Corridor I I < sImI
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  • GREATER CHINA/INDIA
    • 342 17 Geely Group seen capitalising on low tariff among SE-Asian markets Bloomberg [BEIJING] Geely Group, China's largest privately owned carmaker, is planning a venture in Malaysia that can assemble up to 20,000 cars a year, taking its first step to make vehicles abroad. Geely
      Bloomberg  -  342 words
    • 189 17 Bloomberg [NEW DELHI] The Tata Group's Indian Hotels Co, which runs the Taj chain of luxury hotels, is negotiating with the owners of The Pierre hotel in New York to succeed Four Seasons Hotels Inc as the manager of the
      Bloomberg  -  189 words
    • 4 17
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    • 31 17 AP [KOLKATA] Women members of the Laughing Club doing a morning routine here yesterday. Laughter is seen by many as an alternative medicine to boost the immune system.
      AP  -  31 words
    • 317 17 Also testing Netbased TV service in Guangdong Bloomberg [BEIJING] China Telecom Corp. the country's biggest fixed-line phone operator, says it is seeking strategic partners to expand abroad and to improve corporate governance. "We need a strategic partner in the long run to help
      Bloomberg  -  317 words
  • Page 17 Advertisements
    • 1093 17 kISM I Chiao Tung Bank Co., Ltd. (Development Bank incorporated in Taipei, Taiwan R.0.C.) board of urectors Chairman Mr. Shen-CMi Chang NTS in USsin Manama Director Mr. Duai Taal Ph. D. Thousands Thousands Mfr. Pao-Sheng Wei ASSETS Mr. Feng-YI Huang Cash and dua from banks and the Central Bank 71,739,622
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    • 137 17 In the Matter of The Companies Act, Cap.so And In the Mailer of SUNSHINE INVESTMENTS PTE LTD (In Members' Voluntary Liquidation) (Co. Reg. No. *****0108 M) NOTICE OF PINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the
      137 words

  • ASIA-PACIFIC/WORLD
    • 506 18  -  Accord will cut or remove tariffs on products ranging from cars to fruits By ANTHONY ROWLEY in Tokyo JAPANESE Prime Minister Junichiro Koizumi and Malaysian Prime Minister Abdullah Ahmad Badawi yesterday endorsed a Ja-pan-Malaysia Economic Partnership Agreement (JMEPA), which is expected to be signed by
      AP  -  506 words
    • 249 18 Reuters [MELBOURNE] Australian supermarket group Woolworths and wholesaler Metcash agreed yesterday to buy rival Foodland for As3.l billion (553.9 billion). Under the deal that carves up Foodland's wholesaling and supermarket assets, Woolworths will gain its New Zealand stores. Metcash will take on Foodland Associated's Australian
      Reuters  -  249 words
    • 469 18  -  But more than one in four have never tested the plans By AMIT ROY CHOUDHURY [SINGAPORE] A survey has found that 72 per cent of firms in the Asia Pacific have business continuity plans but more than one in four have never tested
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    • 456 18 LATEST US DATA AP. Reuters, Bloomberg [WASHINGTON] Orders to US factories for big-ticket manufactured goods shot up 1.9 per cent in April, the Commerce Department reported yesterday, reflecting strong demand for autos, appliances and aircraft. The department said it was the best
      AP.; Reuters,; Bloomberg  -  456 words
    • WORLD WATCH
      • 80 18 Bloomberg [LONDON] GUS pic will spin off its remaining stake in the Burberry Group luxury-goods business this year and dispose of the Experian credit-checking unit later, breaking up the company to focus on home-improvement and housewares stores. The 66 per cent holding
        Bloomberg  -  80 words
      • 73 18 Reuters [SINGAPORE! RMF Investment Management, part of the world's largest listed hedge fund firm Man Group, yesterday said inflows from investors were slowing due to concerns about the stability and performance of hedge funds. RMF is seeing institutional investors such as pension funds and
        Reuters  -  73 words
      • 111 18 Reuters [LONDON] Hedge fund performance last month was the worst since the emerging market crisis came to a head in August 1998, but the industry is still doing better than stock markets, trade publication Euro Hedge said on Tuesday. The Euro Hedge Composite Index
        Reuters  -  111 words
      • 65 18 Reuters [LONDON] Britain's Financial Services Authority has fined retail lender Abbey National £800.000 (552.42 million) for mishandling customer complaints and giving the regulator inaccurate information. "By putting its own interests ahead of those of its customers with a mortgage endowment complaint, Abbey has singularly
        Reuters  -  65 words
      • 91 18 Reuters [JERUSALEM] News Corp, owner of the Twentieth Century Fox film studio, expects profits in 2005 to be boosted by distribution fees from the latest Star Wars film, its president and chief operating officer Peter Chernin said on Tuesday. Star Wars: Episode 111
        Reuters  -  91 words
      • 73 18 Bloomberg [SEOUL] Samsung Electronics denied yesterday it has agreed to spend US$l5 billion to expand its non-memory chip business. The Seoul Economic Daily reported earlier the company may invest about US$l5 billion in Hwaseong, south-west of Seoul, to make non-memory chips. The Ministry of Commerce,
        Bloomberg  -  73 words
  • Page 18 Advertisements
    • 409 18 mmmnmm 3 June 2005 (Friday) 9.30 am to 12.30pm The Ballroom, Suntec Singapore Level 2 Medium: English and Mandarin Fees: Ss2so (Inclusive of tea reception and 5% GST) After more than two decades sustained growth, China's autonomous substantial changes and experienced significant regional differences in terms of Guost of Honour
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  • WORLD
    • 529 19 PacifiCorp will be purchased from Scottish Power for US$5.1b in cash Bloomberg. NYT [NEW YORK] Warren Buffett struck a deal on Tuesday to buy power company PacifiCorp from Scottish Power for US$5.l billion in cash, gaining low-cost power generators in the western United States. Mr
      Bloomberg.; NYT  -  529 words
    • 354 19 Bloomberg [NEW YORK] The US accounting oversight board, formed two years ago after the bankruptcy of Enron Corp, on Tuesday took its first disciplinary action, barring New York's Goldstein Morris from auditing publicly-traded companies. The Public Company Accounting Oversight Board (PCAOB) said
      Bloomberg  -  354 words
    • 292 19 Bloomberg [DOHA, Qatar] The Federal Reserve Bank of New York plans to support the growth of Islamic financial services in the US. "It is becoming more and more apparent to us that Islamic financial services are a growing presence in the US," said
      Bloomberg  -  292 words
  • Page 19 Advertisements
    • 1433 19 |C|l|H|Ltd CIH Limited (Incorporated in the Republic of Singapore) Co. Reg. No. *****6357H Announcement of Unaudited Results and Dividend for the 15 months ended 31 March 2005 The Board of Directors of OH Limited is pleased to announce the unaudited results of the Group for the 15 months ended 31
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    • 1334 19 Deutsche Bank (Zl DEUTSCHE BANK AG, LONDON BRANCH (Inoorporittad under the law* of the Federal Republic of Germany) NOTICE TO WARRANTHOLDERS To (1) ALL HOLDERS OF EUROPEAN STYLE CASH SETTLED CALL WARRANTS RELATING TO THE ORDINARY SHARES OF CHARTERED SEMICONDUCTOR MANUFACTURING LIMITED ISSUED BY DEUTSCHE BANK AG, LONDON BRANCH (CHARTERED
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  • AVIATION
    • 419 20 It will also add routes, flights, increase customers and lower fares Bloomberg [FRANKFURT] Deutsche Lufthansa AG, Europe's second-biggest airline, said it expects to grow with acquisitions even in the face of increasing low-cost competition and that it will expand operations at its second hub in
      Bloomberg; AP  -  419 words
    • LOG BOOK
      • 70 20 Bloomberg [BANGKOK] Thai Airways International, said a cracked windshield in the cockpit of its passenger jet caused an emergency landing in the Indian city of Kolkata on Sunday. Pilots on flight TG924 to Munich noticed the crack in the right window of the
        Bloomberg  -  70 words
      • 42 20 Bernama [KUALA LUMPUR] Sichuan Airlines has signed a deal with Airbus to buy six A32os and two A3l9s. The planes, powered by lAE's V 2500 engines, will be delivered from late this year to next year.
        Bernama  -  42 words
      • 32 20 Reuters [MOSCOW] Russian flag carrier Aeroflot's first-quarter loss doubled year-on-year to 875 million roubles (Sssl million), it said, mainly due to high energy costs. —Reuters
        Reuters  -  32 words
    • 454 20 Reuters [NEW YORK] Boeing Co's board of directors, which ousted chief executive officer Harry Stonecipher in March, will consider candidates for the CEO job with no experience in the aerospace industry, chairman Lewis Piatt said. "We're now in the process of screening
      Reuters  -  454 words
    • 316 20 Bloomberg, Reuters [KVALA LUMPUR] Air Asia Bhd, South-east Asia's biggest discount airline, said it has hedged 63 per cent of its fuel needs for the next fiscal year, reducing the risk that a surge in prices will erode earnings. "We
      Bloomberg,; Reuters  -  316 words
    • 252 20 AFP [NEW DELHI] India's newest budget airline. SpiceJet, flew its first flight on Tuesday, offering fares as low as US$2 as it joined a dogfight for passengers in Indian skies. Spice Jet, which has such blue-chip investors as Goldman Sachs and Citibank, said between five
      AFP  -  252 words
    • 385 20 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 EVA
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  • Page 20 Advertisements
    • 165 20 am a^^waaaa a^aaaaaaaa TfcjNGA CA^inn MpkitaMlMM M tM CM MM|. Iwpat MH7S *rM. Itt «M 5 ill! He (MI 2m Tk,Maiden's Prayer 2003 An unwooded blend of Merlot, Cabernet Sauvignon, Shiraz and Piontage. An expressive wine with a light and elegant style, it can be enjoyed young. $46++ per bottle
      165 words

  • SHIPPING
    • 594 21  -  Better integration with global maritime industry is ultimate goal By GEORGE JOSEPH [SINGAPORE] An attempt is being made to establish a world class maritime exhibition and conference in Singapore so that Asia is better integrated with the global maritime industry.
      594 words
    • 282 21 Boat race,quiz to attract students to maritime jobs [SINGAPORE] Ice-cream and satay sticks, bottle caps and straws may be the most unlikely materials to build boats with but that's what some 450 secondary school students will use to construct their own motordriven,
      282 words
    • 126 21 Bloomberg [JAKARTA] A Jakarta court rejected a state agency's ruling that Frontline Ltd, the world's biggest oil-tanker owner, colluded with officials at Indonesia's state oil firm and Goldman Sachs Group in the sale of two supertankers in June. The Central Jakarta District Court yesterday dismissed
      Bloomberg  -  126 words
    • 297 21 SGX '000 May 25 SS ♦<- Vol CH Offshore 0.35 unch 352 Chuan Hup 0.74 0.01 311 Cosco Corporation 1.63 -0.07 8890 CWT Distribution 0.65 unch 0 EzraHldqs 1.24 -0.02 100 Freight Links 0.08 unch 0 Grand Banks Yacht 0.94 unch 0 Java Holdings 1.04 -0.01 946 K1
      297 words
    • 321 21 Bloomberg [HONG KONG] PSA International Pte will make its fifth investment in mainland China as it expands operations in the world's fastestgrowing economy. PSA signed a preliminary agreement with Tianjin Port (Group) Co on May 20 to take part in the expansion of
      Bloomberg  -  321 words
  • Page 21 Advertisements
    • 2061 21 1 CALYON FINANCIAL PRODUCTS (GUERNSEY) LIMITED (Incorporated in Guernsey; Channel Islands with limited liability) NOTICE TO WARRANTHOLDERS TO (1) ALL HOLDERS OF EUROPEAN STYLE CASH SETTLED CALL WARRANTS RELATING TO THE ORDINARY SHARES OF DBS GROUP HOLDINGS LIMITED ISSUED BY CALYON FINANCIAL PRODUCTS (GUERNSEY) LIMITED (DBS CA ECW*****0) UNCONDITIONALLY AND
      2,061 words

  • EDITORIAL & OPINION
    • 528 22 EDITORIAL THE ongoing textile trade spat involving the US and the EU on the one side and China on the other has potential ramifications that go way beyond such things as T-shirts, underwear and knitted garments. If the dispute escalates, it could dent the faith in
      528 words
    • 1041 22  - Long-term bonds: Will you get shortchanged The UK is following the French example by issuing 50-year government bonds. A lot can happen in 50 years MATTHEW LYNN Bloomberg TO WHOM would you want to lend money for 50 years? Your children? Your best friend? The British and French governments think
      Bloomberg; REUTERS; AFP  -  1,041 words
    • 746 22  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent IT'S shaping up to be a summer of discontent for Europe's leaders. German Chancellor Gerhard Schroeder, French President Jacques Chirac and Italian Prime Minister Silvio Berlusconi face an array of political and economic woes
      746 words
    • 1764 23  -  The Chinese are starting to embrace America's modern 'shop till you drop' ethos, a consequence of a quarter-century-long economic boom By DAVID BARBOZA NYT [DONGGUAN, China] AFTER construction workers finish plastering a replica of the Arc de Triomphe and buffing the look-alike streets of Hollywood,
      NYT; REUTERS  -  1,764 words
    • 588 23  -  By SAM CRANE LAT-WP IN MARCH, Bi Yuxi, one of Beijing's top highway administrators, was sentenced to death for taking US$l.2 million in bribes and misspending U*****,000 of public funds. Set aside the question of whether a similar fate shouldn't befall local bureaucrats
      LAT-WP  -  588 words

  • Page 23 Advertisements
    • 10 23 Read our newspapers for a fresh set of jobs everyday!
      10 words
    • 686 23 o MACQUAME MACQUARIE BANK LIMITED (ABN 46 008 583 542) (Incorporated under the laws of Australia) NOTICE TO WARRANTHOLDERS To ad holders of: (0 15,000,000 European Stylo Cosh Settled Coil Wwrint* rotating to the ordlnory shores of Noble Group Umttod expiring on 29 August 2006 (NOBLE GROUP MBL ECW*****0); (II)
      686 words
  • Page 23 Miscellaneous
    • 310 23 CRYPTIC CROSSWORD vehicles and other things (5-5) AU OSS 6 Arab television transporter? 1 Circus performers steal into a (5 3) 5 Talk's C |bouf oriental conmen 7 How 1 cook tuna Ri (6) ga style (2,6) 9 Away kit is better (8) 8 Its siren blows, threatening (8) 10
      310 words

  • 2423 24 SGX XTRANET S2-Wk Td Lict Vol Day Laat Quota GrOfc Mr GrYM IM MCop Htgli Low Codo Cwg Solo *l- COOP) Low gjjgr S*f Cw Wt fcwi ********** 6065 Diamonds US***** 6095 ISOJUSTech US3740 6097 ISMSCISpore US555 I 6101 ISSAPSOO US8270 ********** 6170 SPDRS US***** 2226 1800 6235
    2,423 words

  • 3323 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES Inlocjlcan lnU In UN r y M«y 24 Ind— Owiy Omy Ch«ng« Q>»m Change Chang* Preliminary 8573 -0.1 OA 04 OS O.I U J lUl Prdimirwry «3 00 2.7 -0J -15 OjO U tunpr Preliminary 110SO -0.1_ M 4M -1J 41 -3-5 faahc
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  • Page 26 Advertisements
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    • 348 26 PONCNAMA LINE VESSfI (TVBY WIO) VOT SGP HKG UK PUS JOUT MSN 11/ M 05/04 10/ M IS/M ZOfGIORT 002N M/M 12/0* 17/* JO/0* HIXCIOWN SOtN I IS/M I If/0* M/M Z7/M Vissa (EVBtT SAD VOT [~SGP HK (HVB TRAM IBMMAU TS HONGKONG SOT* M/M 11/ M IS OSAKA SO7N
      348 words
    • 574 26 vfssa/voT UMtvp wchtw no icy ia m xn STtATR VEMTUKIO/05 IS 12 10/05 12/05 STIAfTS VENTURE 11/05 IS 12 21/05 24/05 29/05 01/0* 03/06 STRAITS VBCTUREI2/05 IS 12 05/06 01/06 AUSTRALIAN IQRO MEViq I vcsa/vor io |i in i stp m m «i« i m~ COLUMBIA LEAOEK /32 30 47
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  • Page 27 Advertisements
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      774 words
    • 877 27 rasa voy snT re KUOLUHG Q1QH 31/5 1/6 -J/6 1« M Z W~ 11/t GOLDEN GATt 50»N 7/t «/6 10/4 z_ 5|M -J/L. M GOLDENTCADE SMW I 14/4 I h7T 17/6 WWHIDGt 012* 14/4 11/4 *VSl nhg Mi North Wet port VESSEL VOY TO SIN HK6 SHA TAP HSK Ba|Wff
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    • 545 27 WEEKLY EXPRESS SAILING SCHEDULE I ALSO ACCEPT! M€ TO ALL NORTHERN MID WESTERN ICQ POUfTsj vtssa |wi| m P-JOAHc! coummo n smva Icoto—o I I IMff friWDHI 10BT3W 130 MAY 115 I MJBM 1 MJUft I WJUM I II I I I I I I ALSO MXFTBK KllO (OOMI WTKOM
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  • Page 28 Advertisements
    • 564 28 lAmI wallenius wilhelmsen website: http://www.2wfllobol.(om I VESSEL I VQY IRAMP LK MAO HOW Ml* SAY lAI ORF NYC KW MOO TAMERLANE AFSIS I 3201 ms I 6.4 M I 11/06 02/07 U/07 15/07 11/07 16/07 I I TAIKO AFSI6 4201 ms I 6.4 M lit/06 21/07 23/07 21/07 27/07 31/07
      564 words
    • 579 28 rasa voy sm rw PACIAMOA 1473N ***** 20/05 IK» 4TS7 575s —Tls7B -ESUABB& 1474* 21/05 22/05 M urn I M CSf 2301 0123P 22/05 23/ OS 1 Hiliil 910 B7J5 —TTT7K -EKJtfU 14Z5M 22/ Si HZfis_ mMm mm 24/05 24/ os MM rnlijljlli aaiiaaiMP^Bß PACIANOA MTS 25/05 24/05 MOHfl UM
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    • 441 28 MYANMA five star une (Mvmhmt NaHMMI UM) lnii| fw Y«m VESSB VOY Si PH m PGII MBAN 34*W SU NPMN 337W SU) W MALAYSIA: IOUSTtAD SHIPPING AGENCKS KUI/PKL U-NOSUII PHI: 04-2****** Ml ACCEPTS COIYITIQiAL CBO nssa vor is si ph m nk JACAIANDA Ad IN SU SU SU) MMKVKTOt 21
      441 words


  • BizIT
    • 398 30  -  Showcase promises to be even bigger than last year's, writes RAJU CHELLAM RAJU CHELLAM THE converging streams of infotech and communications, of mobile entertainment and telecoms services, and of business needs and the digital lifestyle will be the underlying theme at this year's mega-event, CommunicAsia,
      FILE PHOTO  -  398 words
    • 289 30  -  By KENNETH JAMES THE legendary Woz will be the star draw, no doubt. But iX2005, this year's edition of the annual regional infocomm conference organised by the Singapore infocomm Technology Federation (SiTF), will also offer its participants much more of what
      289 words
    • 287 30  -  By ROLAND LIM IT'S a chicken-and-egg situation. On the one hand, 3G handset sales are not yet taking off as expected. On the other, there is no 3G "killer app" yet on the horizon. That dilemma was one of the topics at a recent
      287 words
  • Page 30 Advertisements
    • 155 30 H We live In an age where fearless thinkers art transforming the <wy we and play. Organisations are realising that thefr Information !s powerful duetts* it is readily available, not safely locked away. Business leaders are learning that, success comes from letting their people do what they do best~ wherever
      155 words
    • 11 30 FEARLESS. v zz *t i v K:" f 4» Symantec i
      11 words

  • PROPERTY
    • 495 31  -  Office rentals set to rise due to limited new supply and steady demand By ALEXANDRA HO "ACTIVE", "strong", "well received" these are words that property consultants are using to describe the property market in Bangkok, Thailand's capital city, in the short and medium term.
      495 words
    • 288 31 LUXURY resorts and hotels developer Banyan Tree is growing its footprint not just in Asia but beyond. It inked an agreement last month with Thailand's leading hotel and real estate owner and developer, TCC Land Company, to design, develop and manage
      288 words
    • 461 32  -  Revised masterplan factors in new nearby developments By ARTHUR SIM JTC Corp has received inprinciple approval from the Urban Redevelopment Authority for the revised masterplan of the 67-hectare Changi Business Park (CBP), which now takes into account new developments in the vicinity including
      461 words
    • 352 32  -  By S JAYASANKARAN in Kuala Lumpur MALAYSIA is the best real estate investment opportunity in South-east Asia this year, according to an ING real estate report released yesterday. "Malaysia is moving in a positive direction on a number of fronts that will
      352 words
    • 1261 32 PROJECT NAME/ PROP CONTRACT TENURE BUIOMN/IAND PRICE PSf STREET NAME TYPE GATE AREA*(SQFT) (S$ OOQ) District 4 NON-LAND® Caribbean At Keppel Bay Apt 2S/04/05 99 893 734 821 Caribbean At Keppel Bay Apt 24/04/05 99 1475 1142 775 Caribbean At
      1,261 words
  • Page 31 Advertisements
    • 134 31 e C6NT6R PLAZA E II If o o v ||J r-gV International Clientele J Meal Investment Opportunity Over 70* has b«n leased out to mutinatioial companies eg Proder Gamble. Entire block or "to*er B totaling 13 ttorey* Win GFA Of 170.000 square PncevwiafhouseCoepefs. Ernst 8 Young, Oedit Suisse, ÜBS, AM
      134 words
    • 53 31 W P«J? ivttKiitf frt^fi^^^^B 3 B>— "^HSmvH I ■051 i,, L- j^"*-■»# j| a|l :^H ififl I■v7*TlTw7*^l V«T3X*b Jfttll m| Your Trusted Partner In Business Space CHINA INDIA INOONESIA JAPAN OMAN PHILIPPINES SINGAPORE SOUTH KOREA THAILAND VIETNAM m^mfllWm2\tlM r I <|^B| y 1 t. Bfcbhi I 1 *4^Bfl^f^M H H|^S^HPBir
      53 words

  • Page 32 Advertisements
    • 303 32 Evian Condo at Holland Road 16 18 Evelyn Road Land 37,086 sq ft, Land 18,000 sq ft, PR 2.1,24 storeys PR 1.4,5 storeys Euan Park MMMj* 99-yr Leasehold ot^ Close to Newton «tiw n <j^ wn Unobstructed views 0 ait^| 9t MRTStn Hotww> N Near good schools. N«af Anglo-Chinese Pri
      303 words
    • 82 32 LAND FOR SALE CHANCERY VICINITY Freehold; exclusive Chancery enclave Site Area -1,695.3 sq.m. (about 18,248 sq. ft.) Suitable for landed housing eg. Bungalows, semi-detached houses or cluster housing. Elevated site with views of Orchard skyline ORCHARD VICINITY Freehold; within minutes walk to Somerset MRT station Site Area -1,245.3 sq.m. (about
      82 words