The Business Times, 9 June 2005
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2005-06-09
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The Business Times
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Title Section16 2005-06-09 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial .com.sg MICA (P) 089/03/2005 Thursday, June 9,200516 words
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Article, Illustration1423 2005-06-09 1 MICHELLE QUAH - Charges will be filed today; company looking into new management line-up By MICHELLE QUAH [SINGAPORE] It looked like the worst of times and the best of times for China Aviation Oil. Five of its top brass including suspended CEO Chen Jiulin1,423 words
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748 2005-06-09 1 WONG WEI KONG - Improved accountability and efficient restructuring are two hard-won gains HOCK LOCK SIEW By WONG WEI KONG IT'S hard to deny that the China Aviation Oil (CAO) debacle the biggest corporate failure here since the Barings Bank collapse in 1996 is something the Singapore748 words
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Page 1 Advertisements
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Advertisement11 2005-06-09 1 INDEX ILLUSION STl's 5-year high is not what it seems PG311 words
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Advertisement21 2005-06-09 1 von FOR VANTAGE Mandate from SC Global shareholders PGS B V LO A R I > k i j i i t21 words
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Advertisement15 2005-06-09 1 j PROPERTY HK group buys Crown Hotel for 8300 m m i pG 32 1815 words
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TOP STORIES
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727 2005-06-09 2 It says it does not have a list of over 400 nonmarginable stocks Bloomberg, Bernama [KUALA LUMPUR] Hong Leong Bank Bhd, Malaysia's sixth largest lender, has denied media reports that it planned to make more than 400 Malaysian stocks ineligible for margin financingBloomberg,; Bernama - 727 words
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Article134 2005-06-09 2 Dsn 2,***** (-8.55) ST INDEX FUTURES 2,205.00 (+12.00) SIMSCI 259.72 (-0.75) SIMSO FUTURES 261.00 (+1.40) MARKETS Wednesday Chang* KISECOMP 87»44 +2.52 NIKKEI 225 11.281.03 +63.58 HANG SENG 13J98.55 +61.26 SET INDEX 6M.07 +1.92 JAKARTA COMP +2.70 MANILA COMP 1.953.28 -49,74 SEOUL COMP 976J2 +534 SHENZHEN B 232.39 +15.80134 words
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Article547 2005-06-09 2 Those 5-year STI highs are just for a mighty few THE Straits Times Index rose to its umpteenth five-year high when it advanced 5.26 points to 2,206.24 on Tuesday. But this seemingly stellar performance isn't reflected in the broad market. Out 0f655 stocks, only 139 or 21 per547 words
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Article, Illustration531 2005-06-09 3 R SIVANITHY - Index surge due mainly to gains by Jardine group, Keppel and F&N By R SIVANITHY [SINGAPORE] The Straits Times Index rose to its umpteenth five-year high when it advanced 5.26 points to 2,206.24 on Tuesday. But this seemingly stellar performanceSource: Bloomberg - 531 words
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Article, Illustration457 2005-06-09 3 ROLAND LIM - By ROLAND LIM [SINGAPORE] Regional infotech services provider NCS yesterday announced the appointment of a new chairman and a new chief executive officer. Current chief executive Lee Kwok Cheong will become chairman and current chief operating officer Chong Yoke Sin will take over457 words
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Page 2 Advertisements
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Advertisement75 2005-06-09 2 I' 'is H§i §3§jj§3Jsj|j With renovations now complete The Oriental is fast becoming a second home for the business elite. From breakfast meetings to annual dinners, cocktails or conferences, discretion and refinement are the order of the day in Melt The World Cafe, Dolce Vita, Cherry Garden, and Axis Bar75 words
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Page 3 Advertisements
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Advertisement30 2005-06-09 3 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access our online news anytime. Call 6388-3838 to subscribe and activate your online account30 words
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Advertisement92 2005-06-09 3 a THE HOURGLASS TF M PUS SHOWCASE 'A. \V <* |^<p^ .O 1 1 1 /'V 2 V'o > ,20 10 9 s 3"* -9 3- >' '"n.^ THE HOURGLASS MM.\l'( HI V I M I II \l I \\l> II! <..'U .>».'<• i i I 1 i. i r92 words
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FOCUS: CAO DEBACLE
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716 2005-06-09 4 MICHELLE QUAH - It has become the subject of criminal proceedings in Singapore By MICHELLE QUAH [SINGAPORE] A controversial share placement involving China Aviation Oil has now become the subject of criminal proceedings in Singapore. CAO's parent, China Aviation Oil Holding Company (CAOHC), placed out 15716 words
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Article, Illustration927 2005-06-09 4 BT, Bloomberg May 1993: China Aviation Oil (Singapore) Corp is incorporated in Singapore. Dec 2001: The company lists on the SGX, selling $80.6 million of shares. August 2002: CAO wins "Most Transparent" award in New Issues category from the Securities Investors Association (Singapore). Second half, 2003: CAOBT,; Bloomberg - 927 words
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Article, Illustration639 2005-06-09 4 WONG WEI KONG - By WONG WEI KONG [SINGAPORE] China Aviation Oil (CAO) will remain listed after its restructuring, the company told creditors before they voted in support of its revised debt restructuring plan at a meeting yesterday. The question of CAO's status as a listedPHOTOS BY LIM WUI LIANG/ST - 639 words
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COMPANY NEWS
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Article, Illustration440 2005-06-09 5 ALEXANDRA HO - But bid not certain as Vantage's cash falls more than pre-condition limit By ALEXANDRA HO SC Global Developments' shareholders yesterday unanimously approved its proposed takeover of Vantage Corporation but it remains to be seen if the Simon Cheong-controlled property company willFILE PHOTO - 440 words
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377 2005-06-09 5 CAROLYN QUEK - By CAROLYN QUEK SEMBCORP Utilities Pte Ltd has invested in an integrated waste-water treatment facility in ZhangJiaGang free trade zone in Jiangsu province its third significant investment in major Chinese chemical hubs. The project is also the second integrated wastewater treatment facility in China377 words
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398 2005-06-09 5 JOSEPHINE TAY - By JOSEPHINE TAY BOUSTEAD Singapore's 40 per cent-owned Salcon Power Corporation (SPC) is planning the construction of a 200 MW coal-fired plant next to its existing 203.8 MW power plant on Cebu Island, in the Philippines. The project by Philip-pine-listed SPC comes a day398 words
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Page 5 Advertisements
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Advertisement1327 2005-06-09 5 Sudden Impact* The Effect of the New FRS on Technology Companies If you think changes in the Singapore Share-based payments Revenue recognition This requires a demonstration of adequate Financial Reporting Standards (FRS) Technology companies, in particular, have FRS 18, Revenue, sets out the basis of ac- project management, costing and1,327 words
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Advertisement22 2005-06-09 5 I Booster Capital Guaranteed Fund SGO RID 19/05/05 9,62 SGD I Double Joy Capital Guaranteed Fundi I USD RID 23/05/05 10.00 USD22 words
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SINGAPORE MARKETS
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Article, Illustration502 2005-06-09 6 R SIVANITHY - STOCKS Brokerage reports spark interest in penny stocks while ST Index falters R SIVANITHY Senior Correspondent SMALL caps enjoyed a third and possibly a fourth consecutive day in the sun yesterday, taking over the reins of market leadership as blue chips faltered in lineSource: Bloomberg - 502 words
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78 2005-06-09 6 RICH Life Holdings, majority shareholder of PSC Corporation, strengthened its hold on the company by buying 14.41 million more PSC shares on Tuesday. It made the purchase in a series of transactions in the open market. Rich Life's direct stake in PSC a78 words
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142 2005-06-09 6 NANDE KHIN - Compiled by NANDE KHIN JAMES Koh Wee Meng, executive chairman, chief executive and founder of the Fragrance Group, is continuing to buy more shares in the company. He has over the past two days raised his direct stake from 68.86 per cent to 68.92142 words
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Article, Illustration726 2005-06-09 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jun 8 and earlier) Subsantial No of Price SHAREHOLDING Shareholder Byy/ Shares Per Before After Stock Trans Date Pirector Sell '000 Shr ('000) COOP) Magnecomp 8-Jun-05 JP Morgan Chase Co. *Buy 567 na ***** 7.80 ***** 8.04 PSCCorD 8-Jun-05 Rich Life726 words
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Article, Illustration860 2005-06-09 6 R SIVANITHY - Compiled by R SIVANITHY Star Hub June 8 dose: $1.65 GOLDMAN SACHS. June 8 WE are upgrading StarHub to an "outperform" rating from "in-line" and have increased our DCF-driven (discounted cash flow) price target to $1.90 from $1.60. StarHub has performed well, but we see more upside fromSource: Bloomberg - 860 words
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Article, Illustration523 2005-06-09 6 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent THE US dollar finished the Asian session on a mixed note yesterday, advancing against most of its Asian counterparts but slipping back versus the euro and Sterling pound. Players ex- plained that ahead of Federal Reserve chairman Alan Greenspan'sSource: Reuters - 523 words
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Page 7 Advertisements
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Advertisement1492 2005-06-09 7 Advertorial Asian high-yield equities win the day Fidelity brings its Asia Pacific Growth Income Fund to Singaporean investors to tap into one of the most compelling asset classes in the region IN life, we always seem to have to strong dividends. The increasing make compromises. And so is it Hief*1,492 words
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Page 8 Advertisements
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Advertisement151 2005-06-09 8 jtl.W Travel iiu'iuoiisiy Ami smart With UOB Visa Platinum, yoti get preferential tales. complimentaiy insurance and nioie ap W*m i '%^-> v fc 1 i Kftk' '$}jfc,* V*' .-;-:t ■IMSN%T,^' jgp Hr <r A IPK vA I DON'T TAKE MYSELF TOO SERIOUSLY. BUT OTHER PEOPLE DO. nR jjgMGa sjp wof!(!';>151 words
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COMPANY NEWS
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Article, Illustration387 2005-06-09 9 JOSEPHINE TAY - Public survey finds financial strength rated top factor in Singapore By JOSEPHINE TAY A PUBLIC poU of 1,500 Singaporeans found financial strength to be the top factor determining corporate reputation in Singapore. In the Corporate Reputation Index spawned from this year's Corporate Reputation Survey387 words
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Article, Illustration297 2005-06-09 9 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY MAINBOARD-LISTED DMX Technologies which provides solutions and services to connect computers, cable TV and mobile phones has secured a $5.4 million contract from one of Malaysia's largest telcos. DMX will provide its digital infrastructure solution to support non-stop operations forFILE PHOTO - 297 words
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Article, Illustration753 2005-06-09 10 There is a shortage of good talent and markets are underdeveloped Reuters FINDING the right Asiabased hedge fund managers has proven tough for Singapore's state investment agency Temasek Holdings. Temasek's asset management arm, Fullerton Fund Management, met 161 hedge fund managersReuters; FILE PHOTO - 753 words
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COMPANY BRIEFS
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182 2005-06-09 10 OCBC Bank and Great Eastern Holdings (GEH) have agreed to merge their respective asset management subsidiaries. The units are OCBC Asset Management (OCBCAM) with $6.6 billion under management and Straits Lion Asset Management (SLAM) with $24.4 billion. OCBCAM will be sold for about182 words
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98 2005-06-09 10 SINGAPORE Exchange (SGX) has awarded the lease of its Global Electronics Trading Centre (GETC) to Refco Singapore. Under the agreement, Refco Singapore will assume the existing operations of GETC from Aug 1, through Refco Trading Services, its division which operates trading arcades. This98 words
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97 2005-06-09 10 FM Holdings, a giftware manufacturer, has secured a contract worth more than US$2 million to make giftware and souvenirs for World Cup 2006 which will be held in Germany. "In terms of contract value, this US$2 million order represents the single largest97 words
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100 2005-06-09 10 MANDARIN Oriental International's wholly owned subsidiary, Mandarin Oriental Holdings (USA), has completed the sale of its 40 per cent stake in Kahala Mandarin Oriental hotel in Hawaii to Kahala Royal Corporation (KRC). KRC now has a 100 per cent stake. On100 words
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75 2005-06-09 10 JAYA Holdings' wholly owned subsidiary, Jaya Shipbuilding and Engineering, has secured two shipbuilding contracts worth more than US$58 million. The contracts are signed with Seatankers Management Co, which is incorporated in Cyprus. Each contract is for the building of an Anchor Handling Tow Supply75 words
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38 2005-06-09 10 SINGAPORE Press Holdings' wholly owned Hipro Printing Pte Ltd, whose main activity is the publishing of the Tamil language newspaper, Tamil Murasu, has been renamed Tamil Murasu Pte Ltd.38 words
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Article4920 2005-06-09 10 UNIT TRUSTS FUNDS Citi Global Healthcare Fund 0.96/ Citi Gb Fm Srvcs Fund 1.05/ Citi US Aggressive Growth Fund 0.82/ A"™ *"5 15 P 0 1 5 B Sel Gib Bus Idrs Ptfl 03ISGD) 1.1178/ 0* S B Sel Gib Bus Ldrs Ptfl 03(US01 —1.183/ Star Europe Bond U4& cmbond4,920 words
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Page 9 Advertisements
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Advertisement25 2005-06-09 9 DARE TO LIVE wmn UOB VISA PLATINUHIJ mi is 111 l UNITED OVERSEAS BANK United for Growth United Overseas Bank Limited Company Reg No. *****0026Z25 words
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Advertisement138 2005-06-09 9 INVESTMENT OPPORTUNITY I H As a key component of its policy of reforms and modernization of the H banking sector, the Government of Bangladesh has decided to H privatize the state-owned Rupali Bank Ltd by divesting about 68% of H its shares to an interested and eligible investor on international138 words
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Page 10 Advertisements
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Advertisement15 2005-06-09 10 IPIMCO Emerging Markets Bond Fund rated 5-star by Mercer Investment Consulting company regn no *****7169Z15 words
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SINGAPORE NEWS
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Article, Illustration447 2005-06-09 11 AMIT ROY CHOUDHURY - 9 out of 10 who interacted with govt agencies did so online: IDA poll By AMIT ROY CHOUDHURY A RECORD number of Singaporeans are using computers to interact with government agencies, a survey by the Ministry of Finance (MOF) and the Infocomm Development AuthoritySource: IDA/MCF - 447 words
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Article251 2005-06-09 11 COE premiums for small cars rose in yesterday's tender for certificates of entitlement, while those for big cars slipped on what some people say could be due to concerns about the economy. Category A for cars below 1,600 cc reversed the downward trend after251 words
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NEWS ROUNDUP
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43 2005-06-09 11 SENIOR Minister Goh Chok Tong will be in Bangkok today to deliver a keynote address at Asia Society's 15th Asian Corporate Conference. He will speak on "Southeast Asia Rising: A Region Booming Among Asia's Economic Giants".43 words
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Article45 2005-06-09 11 MINISTER for Education Tharman Shanmugaratnam will be visiting Tokyo from today to next Thursday to study Japan's education policy reforms. He will call on Japanese Minister for Education, Culture, Sports, Science and Technology, Nariaki Nakayama, and visit several Japanese schools and universities.45 words
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Article38 2005-06-09 11 Charity showPCKthe Musical THE PAP Community Foundation (PCF) will be holding a charity show, "PCK the Musical", on Saturday at the Singapore Indoor Stadium to raise funds for the PCF Headstart Fund and the PCF Education Endowment Fund.38 words
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327 2005-06-09 11 CHLOE CHOY - By CHLOE CHOY ALONG with the renaming of the Singapore Cable Car Pte Ltd, Mount Faber looks set to sparkle with a new $8 million project to revamp its cable car station as well as introduce new tourism activities. Despite327 words
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493 2005-06-09 11 KENNETH LIM - Date moved to Aug 22-26 after SPH's lawyer falls ill By KENNETH LIM FORMER Tiger Airways chief executive Patrick Gan's libel suit against Singapore Press Holdings (SPH) and Business Times reporter Ven Sreenivasan has been postponed. The trial will now be heard from Aug 22493 words
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487 2005-06-09 11 SIOW LI SEN - Not all booms threaten financial stability: ECB head By SIOW LI SEN MINISTER Mentor Lee Kuan Yew last night made a surprise appearance at a lecture where Jean-Claude Trichet, president of the European Central Bank (ECB), spoke about the dangers of asset price booms.487 words
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319 2005-06-09 11 USA TAN, QUAK REN FANG - By USA TAN, QUAK REN FANG FILM stars including Goldie Hawn, Kurt Russell and Jamie Lee Curtis have been filmed with disadvantaged children in developing countries, in an effort to raise over $150 million for about 200 charity projects in the biennial global319 words
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Page 11 Advertisements
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Advertisement204 2005-06-09 11 Jp jr"' .5V A mJ, -1 j- mi W. I S; :"A <•> V jM f Company Formation Foreign Direct Investment Virtual Offices Since 1975 OCRA Worldwide has been providing offshore incorporation and administration solutions for Asian and International businesses. We have been at the forefront erf corporate and financial204 words
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FOCUS: INDUSTRIES
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Article, Illustration960 2005-06-09 12 LIZA LIN - Unknown to many, Singapore is actually home to many of the world's top chocolate manufacturers. LIZA LIN follows the cocoa trail to find out more LIZA LIN MUCH has been said about Singapore as a hub for education, biomedical science, and financial services. But the tiny country hidesBLOOMBERG - 960 words
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Page 12 Advertisements
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Advertisement1538 2005-06-09 12 Notices A Multi-Con Systems Limited (Incorporated in the Republic of Singapore) Registration No. *****7432K NOTICE IS HEREBY GIVEN that the Fourth Annual General Meeting of Multi-Con Systems Limited (the "Company") will be held at Copthome Orchid Hotel, 214 Duneam Road, Singapore *****6 on 24 June 2005 at 10.00 a.m to1,538 words
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Advertisement112 2005-06-09 12 Our qualified professionals can assist you with offshore structures, shelf companies and incorporations in ALL 10^ jurisdictions including: O- 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.112 words
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Page 13 Advertisements
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Advertisement198 2005-06-09 13 Hi i O UOL SCALES NEW HEIGHTS IN ARCHITECTURE AND DESIGN. Asia's only winner of the FIABCI Prix d'Excellence Award 2005 1 Moulmein Rise. r I United Overseas Land Ltd (UOL) shines aga n at the forefront ot residential property development. An industry !eade" Known for *i consistently raising the198 words
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ECONOMY WATCH
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691 2005-06-09 14 But the decline in Europe's economic expansion is seen as temporary Bloomberg [PARIS] The European Central Bank should cut interest rates if the slowdown in the dozen-nation euro region persists, the International Monetary Fund said. The decline in theBloomberg - 691 words
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Article, Illustration700 2005-06-09 14 Reuters [BEIJING/LUXEMBOURG] European Central Bank president Jean-Claude Trichet sought to dispel expectations of an imminent cut in interest rates on Tuesday, while a senior monetary source made clear the ECB is on hold, waiting to see how recovery unfolds before setting aReuters; BLOOMBERG - 700 words
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365 2005-06-09 14 LATEST US DATA Reuters, Bloomberg [WASHINGTON] Inventories at US wholesalers rose 0.8 per cent in April, double Wall Street expectations, led by machinery and other business equipment, the Commerce Department reported yesterday. Sales increased by the most in more than a year. The department alsoReuters,; Bloomberg - 365 words
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426 2005-06-09 14 Reuters [NEW YORK] US Treasury debt prices climbed on Tuesday after comments from Fed Chairman Alan Greenspan overnight appeared to leave open the chance of a pause in interest rate hikes. Interestingly, dealers focused more keenly on what Mr Greenspan did not say thanReuters - 426 words
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452 2005-06-09 14 Bloomberg [BANGKOK] Thailand's central bank will probably raise its key interest rate to the highest level in 41 months to curb inflation and stem the baht's fall. The Bank of Thailand is likely to lift its 14-day bondBloomberg - 452 words
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Page 14 Advertisements
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Advertisement743 2005-06-09 14 Motives IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF TRANSNASIONAI (SINGAPORE) PTE LTD RCB NO: *****4477Z (IN CREDITORS' VOLUNTARY LIQUIDATION) NOTICE OF MEETING OF CREDITORS NOTICE IS HEREBY GIVEN that pursuant to Section 296( 1) of the Companies Act, Cap. 50, a meeting of743 words
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MALAYSIA/INDONESIA
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Article, Illustration458 2005-06-09 15 Below-cost vehicle imports curb effectiveness of Proton: Mahathir Reuters, AP [KUALA LUMPUR] Pressure is building for Malaysia to reform a murky corner of its automobile industry, a system of importing cars that critics regard as fertile ground for corporate cronyism. Former primeReuters,; AP - 458 words
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143 2005-06-09 15 Reuters [SINGAPORE] The Financial Action Task Force (FATF), the global authority combating money laundering and terrorist financing, will hold talks this week aimed at controlling remittances and cash smuggling in Asian nations such as Indonesia and the Philippines. The FATFReuters - 143 words
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Article, Illustration313 2005-06-09 15 Bloomberg [KUALA LUMPURI Shares of Commerce Asset-Hold-ing Bhd, Malaysia's No 2 lender, rose as much as 5.2 per cent on a plan to merge its commercial and investment banking units, creating a bank with RM9B billion (5542.8 billion) of assets. UnderBloomberg; Source: Bloomberg - 313 words
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278 2005-06-09 15 Bank Mandiri to review new corporate lending as NPLs soar to 31 [JAKARTA] Indonesia's largest bank, state-owned Bank Mandiri, has announced a review of all new corporate lending after revealing that its level of corporate non-performing loans (NPLs) has reached 31. per cent, the Financial Times reported. The new disclosures278 words
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Page 15 Advertisements
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Advertisement270 2005-06-09 15 The First -i 1 We're first again! Save Over $19,000* hi the First Year Save more the award-winning celebratory offer and 0 Zara internet In ihe Ural veer wtth our low flxad*rate oackaoe PUN Itgri too aubaldy tor loan amount of $*****0 and above inwflni compumtniary nsy oi in# Rwrßui270 words
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GREATER CHINA/INDIA
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456 2005-06-09 16 It sold 3.063b shares at HK$7.50 each, say bankers Bloomberg [HONG KONG] China Shenhua Energy Co, the nation's biggest coal producer, sold U552.95 billion of stock in the world's largest initial public offering this year, at the low end of theBloomberg - 456 words
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261 2005-06-09 16 AFP [MUMBAI] India's Reliance Energy announced plans yesterday to spend US$ll billion to build the world's biggest coal-based power plant that would generate 12,000 megawatts of electricity. Reliance is a unit of telecoms-to-en-ergy conglomerate Reliance Industries, India's largest private sector company. RelianceAFP - 261 words
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476 2005-06-09 16 PetroChina will get access to parent's non-Sudan assets Reuters [SINGAPORE/HONG KONG] PetroChina is buying overseas oil and gas fields from its state-owned parent China National Petroleum Corp (CNPC) through a multi-bil-lion dollar joint venture to boost sagging output, a source close to theReuters - 476 words
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Article, Illustration400 2005-06-09 16 Reuters [MUMßAl] SAP AG, the world's biggest maker of business software, is upbeat about India both as a market and a development base and plans to more than double headcount to 4,000 people by 2006, a top official said onReuters; AT - 400 words
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Article, Illustration505 2005-06-09 16 Investor confidence driven by govt moves to support share prices Bloomberg AFP [SHANGHAI] China's stocks had their biggest gains in three years as investors bet government plans to support share prices will lift Shanghai's benchmark index from an eight-year low. ItBloomberg; AFP; REUTERS; Source: Bloomberg - 505 words
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441 2005-06-09 16 Reuters [HONG KONG] China s Lenovo Group Ltd, the world's third-largest PC maker, reported a 12 per cent drop in quarterly profit yesterday, below expectations, and said it would look to its newly-acquired IBM PC unit to jumpstart growth. Lenovo, whichReuters - 441 words
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ASIA-PACIFIC/WORLD
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Article, Illustration935 2005-06-09 17 ANTHONY ROWLEY - ASIA INSIGHT It is a country's cultural and institutional traditions that shape the optimum financial system, rather than innately 'superior' models ANTHONY ROWLEY Tokyo Correspondent ONE of the more remarkable facts about China's economy is that, according to offi-r cial statistics, more than 90935 words
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Article, Illustration750 2005-06-09 17 Suit details phone talk between AIG, General Re execs Bloomberg [WASHINGTON] Executives at Berkshire Hathaway's General Re unit knew four years ago that American International Group (AIG) would use a reinsurance transaction to "cook the books", according to phone transcripts cited inBloomberg; BLOOMBERG - 750 words
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196 2005-06-09 17 Bloomberg [WASHINGTON] Prudential Financial Inc, the second largest US life insurer, received a subpoena from Connecticut attorney-general Richard Blumenthal seeking information on a type of reinsurance that may be abused to mask losses. Prudential has been conducting its own review of reinsurance arrangements and willBloomberg - 196 words
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Article, Illustration453 2005-06-09 17 AFP [LONDON] English champions Chelsea, bankrolled by Russian billionaire Roman Abramovich, are estimated to pay their players more than any other club in the world. The club's wage bill of £115 million (Ss3so million) in 2003/04 is almost certainly the highest in world football,AFP; REUTERS - 453 words
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370 2005-06-09 17 It hires second adviser ahead of govt stake sale Reuters [MELBOURNE] Australia's Telstra Corp has appointed a second corporate adviser to look at a split of its wholesale and retail arms as the government readies a As 33 billion (5542.2 billion) sale of itsReuters - 370 words
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SINGAPORE ARTS FESTIVAL
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Article, Illustration347 2005-06-09 18 NGIAM YING LAN - By NGIAM YING LAN OLA Kala (Greek for All's Well), the third creation of French trapeze troupe Les Arts Sauts, is many things. It is a sensory delight— evocative live music combined with swirling visual projections as 16 lithe bodies interweave themselves around a crosswise347 words
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Article, Illustration607 2005-06-09 18 GEOFFREY EU - Bang on a Can presents a radically different repertoire, reports GEOFFREY EU GEOFFREY EU A CONTEMPORARY music group with a name like Bang on a Can might easily be misconstrued as being merely unpretentious, or loud and energetic at the same time but607 words
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Article2408 2005-06-09 18 VOl General Corp .0.39 0.02 135 Jual KM fOOO) Genting 18.70 -0.10 181 George Kent .0.69 0.03 42 A 4 M Realty 158 028 38 GHL Systems .0.23 0.01 454 Abrk 0M 0.03 861 Globetronia Tech *.41 0.01 969 ACP Industries 0.71 0.01 235 GlomacBhd 1.432,408 words
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Page 18 Advertisements
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Advertisement112 2005-06-09 18 /V fy c I a I hi t tdes aspeed person I foe called Dad. I frf DadiTo M A Heaiy, \Uolescrre Buffet at-the Phoenx gr t Garden Cafe this Father's Day and stand a (C* cAance to win a FREE night stay at Hotel RjJT Phoenix, in the Specialists'112 words
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AVIATION
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Article, Illustration615 2005-06-09 19 Cost savings to improve profit margins, but excess capacity, fuel prices still a headache AFP [PARIS] After three lean yeqrs, international air travel faces a brighter future as ticket sales take off and costs drop, but the future is overshadowedAFP; AP - 615 words
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532 2005-06-09 19 Reuters [BRUSSELS] The European Commission gave lossmaking Alitalia the go-ahead for a critical restructuring plan on Tuesday but warned Rome that it must act like a private investor in the airline's recapitalisation. The European Union executive scrutinised the Alitalia plan which foresees job losses,Reuters - 532 words
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Article1919 2005-06-09 19 HKHT ETA HKWT IIP SQ143 J 535 SQ146 ,640 -rr-r-rr- IMS AfgOM 2215 SQ147 2235 Sqi«8 1900 Ad<Uld SQ230 §45 BA7382 22 5 Phaki SQ435 05S0 SQ436 2030 QF82 2215 Dohj QR638 J205 QR639 0745 SQ442 2020 DibS NZ4355 0735 EK405 0210 isysi ill Si ass1,919 words
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LOG BOOK
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121 2005-06-09 19 AP [KUALA LUMPUR] Malaysia's main airport will have its own radio station, airing travel information for tourists, airline flight schedules and music, an official said yesterday. The Fly.Fm station will start broadcasting in Malay and English on July 1, the seventhAP - 121 words
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95 2005-06-09 19 Bloomberg [OTTAWA] India and Canada have agreed to increase the number of passenger flights between the countries five-fold and allow unlimited air cargo. The agreement lets Canadian carriers operate a total of 35 flights a week to and from India and .Indian airlines theBloomberg - 95 words
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317 2005-06-09 19 AP [FLORAL PARK, New York] The body of an apparent stowaway was ripped in half-during flight and his leg crashed into a suburban neighbourhood, where a homeowner found the severed limb in the middle of her lawn, authorities said. Pam Hearne heard "aAP - 317 words
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199 2005-06-09 19 Bloomberg [LUXEMBOURG] A group representing low-cost airlines. including Ryanair Holdings pic, asked Europe's highest court to annul a 2004 law that increases compensation to passengers for delays, cancellations and overbooking. "We reject the argument that we should pay for hotel andBloomberg - 199 words
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335 2005-06-09 19 AFP [WASHINGTON] The European Aeronautic Defence and Space Co (EADS) has offered to drop controversial loans from European governments in order to revive US-EU negotiations over disputed subsidies to commercial plane makers, the Wall Street Journal reported yesterday. In aAFP - 335 words
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Page 20 Advertisements
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Advertisement63 2005-06-09 20 W) lpi\ tb' 1 %fk s l \li IE§L. V% i: n i i h jK Mil M :r v V J ,l I": H 1r 1- Ji N^ifefiSft! 'l J| If WKll shipping the World! heading towards the Oceans. StX heading towards the Future. i > •'"i -j sj63 words
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SHIPPING
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Article, Illustration769 2005-06-09 21 DONALD URQUHART - Industry airs conflicting views on collective conference system Reports By DONALD URQUHART [SINGAPORE] The next battle ground over competitive practices in the shipping industry won't be in Europe, the US or Australia, it will be fought here in Singapore as the Republic gears769 words
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Article258 2005-06-09 21 [SINGAPORE] With an eye on enhancing economic competitiveness by prohibiting practices that inhibit competition, Singapore's new Competition Act 2004 began its phased implementation from Jan 1 this year. In the first three rounds of public consultation, a number of shipping interests submitted comments, including the Singapore258 words
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151 2005-06-09 21 Reuters [LONDON] Pirates armed with AK-47 assault rifles attacked the crew of a large oil tanker waiting to load crude at Iraq's Basra oil terminal before making off with cash, an ocean crime watchdog said yesterday. The raid happened at night onReuters - 151 words
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Article290 2005-06-09 21 SGX '000 Junet SS Vol CH Offshore 0.36 unch 260 ChuanHup.~ 0.75 unch 807 Cosco Corporation 1.90 -0.04 6692 CWT Distribution 0.66 -0.01 56 Ezra Hldgs 1.23 unch 65 Freight Links 0.08 unch 512 Grand Banks Yacht 0.96 unch 2 Java Holdings 1.05 unch 661 K1 Venture 0.27290 words
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Article, Illustration52 2005-06-09 21 [BREMERHAVEN, Germany] New cruiser Pride of America leaving the shipyard Lloyd in Bremerhaven, northern Germany, to set sail for New York. The 81,000-tonne luxury ship, which had a mishap in a storm in January2oo4. was delivered to the US shipping company Norwegian Cruise Line onAP - 52 words
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Article519 2005-06-09 21 But it says fall in freight rates would be offset by port congestions Reuters [TAlPEl] Taiwan's secondlargest shipping firm, Yang Ming Marine Transport Corp, has issued a profit warning, forecasting a 12 to 56 per cent fall in -earnings per share (EPS) in the nextReuters - 519 words
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Article259 2005-06-09 21 Bloomberg [HONG KONG] Shenzhen, China's sec-ond-busiest port after Shanghai, handled 26 per cent more containers in May compared with last year, after the country's growing trade boosted the amount of goods shipped through its ports. The port in the southern Chinese city, which borders HongBloomberg - 259 words
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340 2005-06-09 21 Bloomberg, AP [NEW DELHI] Australia, which is in talks to sell five million metric tonns of liquefied natural gas (LNG) to India, is willing to provide technical help in building a terminal for the fuel at a southern Indian port. TheBloomberg,; AP - 340 words
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Page 21 Advertisements
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Advertisement65 2005-06-09 21 ATTENTION ALL SHIPPING COMPANIES WITH EFFECT FROM 19TH MAY 2005 MARPOL 73/78 ANNEX VI SINGAPORE STANDARD CP:6O 2004 REQUIRE SAMPLES TO BE TAKEN AT SHIP'S MANIFOLD WHEN TAKING BUNKERS HAVE YOU MARITEC supplies all your needs to comply with the mandatory requirement. Maritec Pte Ltd 192, Pandan Loop, #05-26/27/28 Pantech65 words
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EDITORIAL & OPINION
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Article507 2005-06-09 22 EDITORIAL INDONESIAN President Susilo Bambang Yudhoyono has come under fierce criticism from legislators for his 12day trip to the United States, Japan and Vietnam, which they say, has used up tax payers' money without delivering concrete results. While legislators should keep a close eye on507 words
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Article, Illustration872 2005-06-09 22 MATTHEW LYNN - Despite safety and contamination issues, Europe's nuclear bandwagon is starting to roll MATTHEW LYNN Bloomberg AFTER more than a decade in the doldrums, the nuclear-power industry is now starting to dust off plans that European nations have shelved for years. For investors, there mayBloomberg; REUTERS - 872 words
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Article, Illustration759 2005-06-09 22 LEON HADAR - THE BOTTOM LINE LEON HADAR Washington Correspondent I HAPPENED to be in Paris on the same day that the French people rejected the proposed European Union Constitution a vote that was described by analysts in the French capital as759 words
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Article, Illustration1342 2005-06-09 23 DON LEE - Strengthening economic ties and socio-cultural exchange builds rapport between the two neighbours By DON LEE LAT-WP AFTER living in Seoul, South Korea; Frankfurt, Germany; Los Angeles; and Beijing, Kim Hyun Soo decided to retire in Weihai, a port city in China's Shandong province that juts outLAT-WP; AP - 1,342 words
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275 2005-06-09 23 Leong Sze Hian - Leong Sze Hian Singapore I REFER to HDB's reply, "HDB: Vacancy rate irrelevant to rent issue" (BT, May 31), to my letter, "Hello? Anybody listening?" (BT. May 25). It states that "the issue is, therefore, not how many vacant rental flats HDB275 words
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Article, Illustration430 2005-06-09 23 Jimmy Ho Kwok Hoong - LETTERS TO THE EDITOR Jimmy Ho Kwok Hoong Singapore I REFER to the article, "SGX and its critics: Managing the gap", by R Sivanithy (BT, June 6). Misfortunes such as the Chartered and China Aviation Oil sagas, the selling down of Citiraya and Unifiber, controversiesBLOOMBERG - 430 words
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Article293 2005-06-09 23 Denis Distant - Denis Distant Singapore I REFER to the report, "ACCS says it overstated profit by $54m" (BT, May 27). I find it hard to believe that a company could overstate its audited profit by $54 million and now have to make $81 million provisions for 2004 to293 words
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Page 23 Advertisements
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Advertisement102 2005-06-09 23 HAVEYOUR SAY Fax your letters to 6319-8277 or email them to btletterOsph.coin.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your hill name, address and telephone number for verification. Please use temperate language, and bear in mind libel laws.102 words
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Page 23 Miscellaneous
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Miscellaneous192 2005-06-09 23 CRYPTIC CROSSWORD DOWN 1 Coppers live for control (7) 4jl !l IGan j 7 YESTERDAY'S SOLUTION 2 Provides air to set a really up- Thresholds often passed by Across: 7 Full board, 8 Revel, 10 lifting environment for it (7) salesmen? (9) School, 11 Palisade, 12 Beirut, 14 3 Operating192 words
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Article10240 2005-06-09 24 SGX MAINBOARD 52-Wk Tel Last Vol Day Lart Quota GrOtv Dtv GrYM Nat MCan High Low Coda Company Sala fOOO) High Low tuyar SaMr Cvr HI Sum 12.5 3 5716 1st Software 5c 5 +1 6716 5 3.5 4.5 5 20.2 34.5 13.5 3148 8TelecomUS2c IS +0.5 221810,240 words
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Article6142 2005-06-09 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES to tool am tots touts \<*r r <*y r *r lun«7 lnda» Ch«nq» On Of— CK«r»o« Ch»nj(» The Work! India Mty 8697 a/ 70 07 06 04 -11 I t AH ftcliironaiy BOH OS 42 04 09 U -M turapeMmwuiy 112Si1 09 626,142 words
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Advertisement1228 2005-06-09 26 .x. > Bp i 6* v +h§yBAV^i ■fifaflnHH Hfc-. •*vj!i 1 I I NYK GROUP SOUTH ASIA PTE LTD IP-"\ VT¥fir V TEL:6295 0123 XV JK JLIINE C&gdf *9 XI LINE Fax: 6292 2856 (Regionalsales)/6239 7109 (OPS)/6299 5785 (Documentation) V NIPPON YUSEN KAISHA TOKTO KNPAKU KASHA. UO. (C/R NO: **********0E)1,228 words
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Advertisement795 2005-06-09 26 iMwmuiotomviq VBSR/VOT IAWPffT) HBGHTW KG IKK LQ SM JKT STRAITS VENTURE*! 1/OS IS 3.2 23/05 26/05 01/06 04/06 06/06 STRATTS VENTURE 12/ OS IS 3.2 08/06 U/06 I STRAITS VENTURE 13/0S IS 3.2 11/06 21/06 26/06 29/06 01/07 I AUSTRALIAN RORO WtVICM I VBSa/VOT iRANfffDI HBGKnml m| |JW 1 SYP795 words
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Advertisement1085 2005-06-09 27 www.homburgsud.tom HAMBURG^jj&UD AIISI SIRVia (OMR!) Jtt HI SH6ATOM msum sbe muoiiwk mbai smunu mam sma mtamm mum CSCIIIAMa 0077S 10/0* 20/06 22/06 25/0t 20/04 Oa WMBI 00m 00/07 11/07 20/07 2V07 26/07 sa>m Oils 17/06 27/06 29/06 02/57 OVO7 StOIIAOM 15/07 25/17 27/07 3C/I7 02/00 (AITWIHtOtOS 24/06 04/07 06/07 W/071,085 words
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Advertisement1234 2005-06-09 27 VESS& VOY SW PKG GOLDEH TRADE SMH 14/6 15/6 17/6 |-H MtHWM* 082 A "W 18/4 lICUOLUHG lonN I 21/6 I 22/6 I 24/6 I 1 I NBEPYIIAMK QNA 23/6 25/6 I GOLPBi GATE IWM I 71/6 1 20/6 I 1/7 I -I I fgTH BRIDGE 083 A 30/6 2/71,234 words
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Advertisement923 2005-06-09 27 WEEKLY EXPRESS SAILING SCHEDULE I ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS I YBSB I VOT |SW I HUNG! COLOMBO InSWVA I COLOMBO I .IAYIHDGi I 009W 106 JUW I 07JUW I 10JUW I I3JUW 116 JUN 1 I K/Urv GAWOHI 1 0OT4W 1 04 JUL |OS JUL923 words
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THE BUSINESS TIMES SHIPPING TIMES
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8331 2005-06-09 28 ETA ETA A*mtmr VhuI Voyap Tttophon* ETA HA AdvwtlMr VomI Voygi Tetophon* SIN OMfn Mum Mm Numtwr Numbar SM PmTw Www Kmm M—fcar H—tar IMHHMMNMMMMMMMMMMMRMMMNMMMMMMMNWNMNMMMNNMMMI flMMHHKMMMMMMMnSltMHMMnMMRMMMMNnnMMMMMMMMNME 24/06 13/07 TASMAN TASMAN TRADER *****5 *****288 To ABIDJAN (ABJ) 2003 Cote D'lVOta 02/07 2(V07 TASMAN TASMAN CHALLENGER8,331 words
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Advertisement563 2005-06-09 28 IAJW WALLENIUS WILHELMSEN website: http://www.2wglobal.com pssa|vsr|»sS|>ssiTpw uc mo how mia s*v »al otF nyc new moo TAMERLANE AfSIS natal MM I 12/04~ 02/07 11/07 15/07 11/07 14/07 TAIKO AFSI4 4201mh 4.4 M I 17/06 20/07 24/07 21/07 24/07 90/07 [TARONGA Afsl« 1 3MTmh I*.2SM1 *.2SM 20/07 12/08 21/ OS 25/01563 words
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Advertisement889 2005-06-09 28 vtssa voy sin pgu vtssa m m jut cy 2301 01W 07/06 Qt7oT~ PACIAU 4169 05/04 PACIAMDA 14MN 07/ M 07/ M PACMNTAN 9102 07/06 09/06 nivz Has- wz —fstmum ma urn iizs4_ PACIAMDA MM 12/06 UZ#t_ ft," 1 JSL23U 8132t 12Z#4 SB mo am HTM Q9/Q6 11/ M BUU889 words
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Advertisement447 2005-06-09 28 i BSA jl MYANMA ■H FIVE STAR UNE (Myanmar National Line) Loading for Yangon VESSEL VOY SIN PKI PEN PGU PAGAN 346W SU> HPA-AN 337W SU> IN MALAYSIA: lOUSTIAD SHIPPING AGENCIES KUI/PKL 03-*****3 M PEN: 04-*****1S JH ACCEPTING CONVENTIONAL CBO VESSEL VOY HKG SIN PGU PKI KUC MARINE VICTOR 22447 words
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BizIT
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Article, Illustration501 2005-06-09 30 ROLAND LIM - BT exclusive Regional contributions should beat that of North America, reports ROLAND LIM ROLAND LIM GENEVA-BASED Sita SC, which specialises in networking solutions for the air transportation industry, wants the Asia-Pacific-Japan region to cross US$2OO million in revenues this year, with Singapore asCHRIS LOH - 501 words
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216 2005-06-09 30 RAJU CHELLAM - By RAJU CHELLAM MAINBOARD-LISTED Asti Holdings, which provides back-end semicon manufacturing services, has set up Telford Manufacturing Service Shanghai, Asti's eighth such facility worldwide. Asti said it will invest about $1.8 million in Telford Shanghai. The new unit will begin operations216 words
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263 2005-06-09 30 Reuters [SAN FRANCISCO] Seagate Technology introduced 10 new hard disk drives (HDDs), including what it said was the first HDD designed for the car market and a smaller drive for digital video recorders. The largest US maker of HDDs also introduced what itReuters - 263 words
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Advertisement25 2005-06-09 30 1 "-—J '-> iI-7 11 L l ilLiK*''iT-4*iT "I VA 'I Is kX* ['AYi 1 1 \t* iT VX' I*l :1 W ik f aJT r^MPIPp25 words
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Advertisement16 2005-06-09 30 •i j < i s 0* BE FEARLESS. m —E2SI A A x v X x Symantec >16 words
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PROPERTY
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Article, Illustration394 2005-06-09 31 ARTHUR SIM - UOL lifts top Fiabci honours, CapitaLand bags HK-Beam prize By ARTHUR SIM UNITED Overseas Land (UOL) and Capita Land have raised the bar on the standard of property developments by winning international awards. UOL won the prestigious Fiabci (International Real Estate Federation) PrixFILE PHOTOS - 394 words
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397 2005-06-09 31 LISA TAN - JV company to kick off with Chengdu project By LISA TAN KEPPEL Land, HDB Corporation and E M Services (EMS) have formed a joint venture company, Plein Essor Property Services (Shanghai), to provide property management services in China. A KepLand spokesman said397 words
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Article, Illustration352 2005-06-09 32 KALPANA RASHIWALA - By KALPANA RASHIWALA CAPITALAND'S joint venture with TCC Land has bought a 1.3 million sq ft prime residential site in Bangkok for 692 million baht (5528.8 million). The site, at Soi Mayalab on Kaset-Nava-mintr Road, will be developed into 79352 words
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Article, Illustration452 2005-06-09 32 KALPANA RASHIWALA - Price paid by Park Hotel reflects net yield of 5% By KALPANA RASHIWALA CROWN Hotel has a new owner in the Park Hotel Group of Hong Kong, which paid $300 million for the 311-room freehold property on Orchard Road. The price seems highFILE PHOTO - 452 words
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1077 2005-06-09 32 Brought to you by HSBC M PROJECT NAME/ PROP CONTRACT TENURE BUItWNAAND PRICE P5F STREET NAME TYPE DATE AREA*(SQFT) (SS'OOO) CSS) 3B5 N0N4AN0B) Icon Apt 19/05/2005 99 657 505 769 toongS*Rd Apt 11/05/2005 FH 1491 1300 872 DMrictflS1,077 words
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Page 31 Advertisements
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Advertisement172 2005-06-09 31 "1 For 1" SPECIAL Singapore newest addition to world class cuisine offers delicious chargrilled steaks, chicken, veggies 6 more, at down-to-earth prices) Dine A Dance your evening away to the tune of your favourite Latin, Salsa 4 Merengue hits. Reservation 6220 7927 28 Murray Terraoe CThas Street), Behind Ateeowdl House172 words
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Advertisement81 2005-06-09 31 Releasing a financial statement? Call 1800 289 8822 or email noticesOsph.com.sg to book your advertisement in our newspapers now. it- fr .4! J SjM lllv I Hill! (9 Pekiiicj "If k DllcN U v USUAL t CO price y JL l imiU'tl to one per I.«I) I** wilh mill oulrr81 words
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Advertisement141 2005-06-09 31 —r; Vy~^ S'X cV p FIND sTHEONES THAT FIT! 'v Recruit the right j people through The Straits Times U Recruit Call J .O 1800 289 8822 or email p "~t recrutt#sphxonusg i 0 to advertise. --.j i 1 lirsnrn I™ P I HTTTTTXT^Hr" 11 1 Grade A office building141 words
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Advertisement380 2005-06-09 31 A ascendas Ascendas Innovation Hub, Xi'an, China in Asia? jr^ Ascendas Innovation Hub, Xi'an mI 3JBP £M| National R&D base within Xi'an Hi-tech II I In proximity to top Xi'an universities II As with all our facilities in Asia, our latest offering, Ascendas Innovation Hub in Xi'an, China is equipped380 words
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Page 32 Advertisements
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Advertisement88 2005-06-09 32 16 18 Evelyn Road •Land 18,000 sq ft, PR 1.4,5 storeys K2*°tmrt Close to Newton Bl lir r MRTStn Unit* Near Anfllo-Chinese Pri Sch, St Michael's Pri, X m Expressions of Interest by: mrt U 15 June '05 (Wed), 3pm a NpMon Cirout melvin@credo.com.sg pamela@credo.com.sg Evian Condo at Holland Road88 words
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Advertisement111 2005-06-09 32 r p 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:111 words
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