The Business Times, 19 July 2005

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Total Pages: 30
1 30 The Business Times
  • 14 1 THE BUSINESS TIMES SINGAPTOETftS^ online at http://business-time&asial .com.sg MICA (P) 089^03/2005 Tuesday July 19,2005
    14 words
  • 599 1  -  Sources say Jetstar Asia injecting over $50m fresh capital through Qantas By VEN SREENIVASAN [SINGAPORE] Two of Singapore's three budget airlines are said to have finalised a merger the first sign of consolidation among South-east Asia's fledgling low-cost carriers. On-ofT talks
    599 words
  • 912 1  -  Sale to US group yields net gain of $605m By JEAN CHUA [SINGAPORE] Raffles Holdings is selling its entire hotel business of 41 properties, including Singapore's 118-year-old Raffles Hotel, for $1.45 billion cash to a US private-equity investor, retaining only its interest in the
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  • TOP STORIES
    • 699 2  -  HOCK LOCK SIEW The Raffles Holdings approach is as good as it gets By R SIVANITHY ALTHOUGH there may be initial disappointment over news that a national landmark like the Raffles Hotel is to be sold to an American party, it has to
      699 words
    • 713 2  -  They agree it's a smart move and that price is good By JEAN CHUA [SINGAPORE] While rumours that Raffles Holdings would sell its hotel business have been around for months, analysts BT spoke to yesterday were surprised at how quickly it
      Swissotel Krasnye Holmy, Russia  -  713 words
    • 658 2  -  By ARTHUR SIM, WEE LI-EN [SINGAPORE] Can a Singapore icon be owned by foreigners? Jennie Chua, Raffles Holdings CEO believes so. "Customers, guests don't care who the owners are," she said yesterday. "And the staff, who will continue to work
      658 words
    • 477 2 S'pore economy on track for 2.5-4.5% growth SINGAPORE'S economy should meet its latest 2.5 to 4.5 per .cent growth target this year even if oil prices stay at current levels or rise a bit, Trade and Industry Minister Lim Hng Kiang told parliament. TOP STORIES, PG 4 Growth
      477 words
    • 485 4  -  Early data points to stronger Q2 than Q1; oil spike implies healthy demand for exports By CHUANG PECK MING [SINGAPORE] Singapore's economy should meet its latest 2.5 to 4.5 per cent growth target this year even if oil prices stay at current levels or
      485 words
    • 627 4  -  Reports by NANDE KHIN [SINGAPORE] After a weaker than expected performance in the first half of the year, the growth of Singapore's non-oil domestic exports (NODX) for the full year has been officially revised downwards to 4-6 per cent from a previous forecast
      627 words
    • 526 4 [SINGAPORE] China, India and the Middle East are playing increasingly important roles in trade with Singapore, with the traditionally large trading partners of.the US, the European Union and Japan starting to lose Trade figures released by IE Singapore yesterday
      PHOTOS: AFP, AP  -  526 words
    • 138 4 sn 2,248.14 (-2.15) ST INDEX FUTURES 2,249.00 (-2.00) siMsa ***** (-0.65) SIMSa FUTURES 267.90 (-0.10) MARKETS Monday Change KLSECOMP 915.08 -1.76 NIKKEI 225 11,758.68 -5.58 HANG SENG 14,567.00 +62.71 SET INDEX 652.67 2 L 79 JAKARTA COMP 1,128.44 -3.02 MANILA COMP 1,909.25 +12.17 SEOUL COMP 1.062.43 +2J3 SHENZHEN
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    • 639 4  -  They are also too dependent on earned income By GENEVIEVE CUA [SINGAPORE] Many Singaporeans are living like there is no tomorrow poor money managers who invest too little too late says a new study by the Singapore Management University (SMU). 'Singaporeans are
      639 words
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  • COMPANY NEWS
    • 757 5  -  Acquisitions will increase trust's assets to about $5b in 5 years: sources By KALPANA RASHIWALA MAPLETREE Logistics Trust's asset size is poised to grow about 10-fold, from the present $422 million to about $5 billion in five years, BT understands. This estimate comes from
      757 words
    • 345 5  -  By MICHELLE QUAH SIMON Cheong's SC Global Developments says its offer for Vantage Corporation is superior to all others currently on the table. SC Global said in its detailed offer document issued to Vantage shareholders yesterday, ahead of the latter's
      345 words
    • 396 6  -  It's also in talks with partners to expand in China, India, Middle East By VEN SREENIVASAN SINGAPORE Airport Terminal Services (SATS) will spend $23 million to keep ahead of the competition at Changi. The airport's biggest ground-services operator will spend $9 million
      396 words
    • 331 6  -  IT-RELATED COMPANIES By CHLOE CHOY ADVANCED Manufacturing Corporation Pte Ltd (AMC) yesterday entered into a partnership with South Korea's Übiquam Co Ltd to target the global multi-bil-lion-dollar CDMA telephony transmission market. At yesterday's press briefing, AMC a wholly owned subsidiary of electronics manufacturing services
      331 words
    • 285 6  -  By CHLOE CHOY SESDAQ-LISTED Aztech yesterday reported a near quadrupling of its first-half net profit to $4.12 million. At yesterday's results briefing, the homegrown electronics manufacturer said that the 278 per cent surge in net profit from $1.09 million in the
      285 words
    • 250 6  -  By WEE LI-EN THE merger between Sunningdale Tech the new name which Tech Group Asia adopted since the beginning of this month and Sunningdale Precision Industries (SPI) has been completed. Under the merger, which involves the delisting of SPI, Sunningdale Tech now fully
      250 words
    • 4853 6 UNIT TRUSTS FUNDS Citi Global Healthcare Fund 096/ Citi Gfe F«i Srvcs Fund 1 09/ Cm US Aggressive Growth Fund 088/ *~T: lb p0f S B Sel Gb BusLdrs Ptfl03(SGD) *****/ SSsSri SB Set Gib Bus Ldrs Ptfl 03(USD) 1 1677/ to ZS EF n c,t,bond Ctes$v 0979/ i 023/
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    • 701 9  -  Informatics falls to one-year low as tycoon sells off entire stake in company By WONG WEI KONG IN a display of contrasting fortunes, IPC shares hit fresh highs yesterday while Informatics shares fell after tycoon Oei Hong Leong shifted his money from Informatics
      Source: Bloomberg  -  701 words
    • COMPANY BRIEFS
      • 107 9 UNITED Overseas Bank's subsidiary, UOB Life Assurance, has increased its issued and paid-up share capital from $113.8 million to $171.33 million by the issue of 41 million new shares of$l each following the conversion of its 410 Irredeemable Convertible Cumulative Preference Shares and an
        107 words
      • 64 9 LIFEBRANDZ's fully-owned unit Dashing Diva Pte Ltd has concluded the master distribution and licence agreement with Dashing Diva Franchise Corp. The deal makes the subsidiary an exclusive licensee for Dashing Diva Nail Spa and Boutique for Singapore. Hong Kong and Taiwan. The initial contract period
        64 words
      • 115 9 JISHAN Holdings' net profits for first-half and full-year 2005 are expected to be lower on a year-on-year basis. The expected drop in HI 2005 net earnings is due mainly to a weaker gross profit arising from a textile dispute between China and the US.
        115 words
      • 95 9 PDC Corp said the company and its subsidiaries Hong Lai Huat Construction Pte Ltd and Hong Lai Huat Realty Pte Ltd have received writs of summons from Maybank on July 15. The claims amounting to $800,323 with additional interest, are made against the two
        95 words
    • 340 9  -  By WEE LI-EN UNITED Overseas Bank's move to raise its stake in Indonesia's Bank Buana from 23 per cent to 53 per cent for $285 million will not have an immediate impact on the Singapore banking group's credit ratings, says Standard Poor's.
      340 words
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  • SINGAPORE MARKETS
    • 497 8  -  STOCKS Prudence pervades trading, leading to lighter volume and slightly weaker share prices RS IVANITHY Senior Correspondent US Federal Reserve chairman Alan Greenspan is set to deliver his monetary policy report to the House Financial Services Committee tomorrow, so it's likely that most players aren't going
      Source: Bloomberg  -  497 words
    • TRADES TO WATCH
      • 393 8 ABERDEEN Asset Management Asia Ltd increased its deemed stake in City Developments from 4.93 per cent to 5.05 per cent last Thursday. This follows the property developer's $788 million sale earlier this month of 11 properties including Fortune Centre and City House to
        393 words
      • 78 8  -  Compiled by Chloe Choy SSP Innovations Pte Ltd, a substantial shareholder of United Pulp Paper Co Ltd, has once again increased its direct interest—and correspondingly the deemed stake of Rowsley Ltd in the paper manufacturer. SSP acquired 1.38 million shares in an
        78 words
    • Article, Illustration
      442 8 OTHER SINGAPORE INDICES Jul 18 VALUE CLOSE BT OB/OS 244.00 -50.00 BTCADi -*****.00 -30.00 BT 10-day MA -*****.00 +25.00 All-SG Equities 577.77 -0.49 SG Equities Elect 140.95 -0.87 SG Equities Fin 1586.32 -2.28 SG Equities Prop 585.49 +2.53 SIMSCI 267.43 -0.65 SiMSCI Futures 267.90 -0.10 MOST ACTIVE STOCKS VOLUME STX
      442 words
    • Article, Illustration
      978 8  -  Compiled by JOYCE KOH SIA cargo traffic grew only 0.6 per cent on capacity expansion of 11.4 per cent in June, bringing cargo load factor down to 61.2 per cent from 67.7 per cent a year ago. Passenger traffic grew 8.3 per cent on capacity increase of 8.7 per
      Source: Bloomberg  -  978 words
    • 518 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar enjoyed a decent bounce yesterday from last week's strong US numbers, and perhaps the prospect of more to come this week though gains against some Asian counterparts were circumscribed by renewed speculation about possible Chinese yuan
      Source: Reuters  -  518 words

  • Page 9 Advertisements
    • 15 9 Find the most comprehensive range of products and services in The Straits Times Classified. Bu,its*itnndit
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    • 287 9 Q: Is being born into wealth a burden? A It doesn't have to be. But it does come with its own set of complexities. Parents grapple with issues beyond the technical. What is the effect of inheritance? How do you instill a sense of responsibility in children who may never
      287 words

  • SINGAPORE NEWS
    • 574 10  -  BT exclusive But top-10 rankings still dominated by foreign multinationals By NANDE KHIN CREATIVE Technology and Singapore Airlines have emerged tops among local employers that are most sought after by Singapore students, but, in general, foreign multinationals still dominate the students'
      574 words
    • 365 10  -  YESTERDAY IN PARLIAMENT Police MRT unit set up; it will be active from next month Reports by CHUANG PECK MING EXPLOSIVE detection dog teams will be deployed to carry out surprise checks at MRT stations as the government steps up security measures following the terrorist
      365 words
    • SINGAPORE ROUNDUP
      • 74 10 AS part of the Singapore Green Plan(SGP) 2012 review conducted once every three years, the Ministry of Environment and Water Resources has invited the public to share their opinions at a public forum on July 27 at the Environment Building. The forum will be
        74 words
      • 79 10 CHAN Soo Sen, Minister of for Education, will fly to Beijing today to attend the 1st World Chinese Conference from tomorrow to Friday. Tomorrow, Mr Chan will witness the signing of a Framework Agreement between Nanyang Technological University and Shandong University. On Thursday,
        79 words
      • 34 10  -  Compiled by LISA TAN MINISTER of Foreign Affairs of Japan, Nobutaka Machimura, will be in Singapore for an official visit today, upon invitation by George Yeo, Minister for Foreign Affairs.
        34 words
    • 336 10  -  By SIOW LI SEN RHB Bank yesterday opened a regional business centre hoping to get a bigger slice of the business of servicing trade and investments between Singapore and Malaysia. According to Lim Hun Joo, RHB Bank's Singapore country head, the centre will
      336 words
    • PARLIAMENT BRIEFS
      • 136 10 A MONEY-CHANGING and Remittance Businesses (Amendment) bill was introduced in Parliament yesterday which proposed, among other things, that a holder of remittance licence must be incorporated as a company and have a minimum capital of $100,000. Currently, a holder of remittance licence can be set up as
        136 words
      • 89 10 THE caps on Medisave withdrawal and contribution for middle-income members especially those with healthy balances and are active contributors could be raised to allow them to use Medisave to help pay for more expensive hospitalisation in private hospitals and Class A/Bl wards. Health Minister
        89 words
      • 99 10 A MINISTERIAL Committee on Low Wage Workers has been set up to develop and implement a holistic package of policies and measures to help Singaporeans at the bottom 20 per cent income group. Among other things, the committee will look into measures for
        99 words
      • 87 10 THE government will be giving utility rebates ranging from $60 to $200 depending on the type of HDB flats this month and January next year to help cushion households against hikes in electricity bills. Electricity tariff for July 1 to Sept 30 has risen 14
        87 words
    • 194 10 AFP [WELLINGTON! The first multilateral free trade agreement linking Asia with the other side of the Pacific was signed in Wellington yesterday by New Zealand. Singapore, Chile and Brunei. An existing free trade agreement (FTA) between New Zealand and Singapore is being expanded to include
      AFP  -  194 words
    • 295 10 Reuters [HONG KONG] In its annual report on Singapore, Moody's Investors Service says the country's Aaa for-eign-currency debt rating and stable outlook are based on Singapore's comfortable external asset position, its strong economic fundamentals, and its stable political system. "Conservative fiscal and monetary policies,
      Reuters  -  295 words
  • Page 10 Advertisements
    • 151 10 E5O Leaders Talk What are the competitive benefits of branding? Why are brands so few and far between among Asian companies? And how do you <3HBF go about building a product or corporate brand and then making To discover the answers to these questions, we invite you to spend. Wt
      151 words

  • SME spotlight
    • 698 11  -  Lack of training and gender discrimination can hurt businesses, writes CHEN HUIFEN CHEN HUIFEN THE biggest challenge that hit family businesses today is in training family members to be professional managers, said Alan Carsrud, an academic on the field. "One can hire professional managers
      698 words
    • 436 11  -  By CHEN HUIFEN ONE of the biggest pitfalls in start-ups is that executives tend to focus on their existing network circle for developing business relations. "It's a pitfall if that's the only place they look," said Peter Ring, professor of strategic management
      436 words
    • 949 12  -  The niche residential property developer aims to be among Asia's best. Its executive director shares his vision with LISA TAN LISA TAN BRICKS have turned into beautiful artpieces in the hands of niche residential property developer Soilbuild Group Holdings Ltd over the past 29 years. Today,
      ARTHUR LEE  -  949 words
    • 993 12  -  By ABHIJIT GHOSH WHILE small and medium, yet highly innovative, entrepreneurial companies (SMEs) generally have what it takes to survive in the short term, many of them fail to focus on long-term tax strategies for sustainable profitability and future growth. Tax management and compliance are often
      993 words
    • 383 13  -  By LISA TAN LIM Keng Siang, better known as Keng Lim in Silicon Valley, is the chairman of Sygate Technologies Inc and a true blue Singaporean. While he has started six companies in the last 30 years and raised more than
      FILE PHOTO  -  383 words
    • 756 13  -  SMALL CAPS An expected demand for paper bodes well for China Paper which has increased production lines and boosted R&D capabilities. LISA TAN reports LISA TAN IN the business of producing and distributing paper products and paper chemical products in the PRC, China Paper Holdings has
      ZAOBAO PHOTO  -  756 words
    • 392 13  -  By TEH HOOI LING THE market's continued interest in the small cap stocks last week lifted 17 out of the 27 stocks in our small cap portfolio. As a result the value of our portfolio rose 2.3 per cent, outpacing the UOB Sesdaq Index's 1.3
      392 words
  • Page 11 Advertisements
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  • ECONOMY WATCH
    • 377 14 Government survey shows there is also more urgency to reform the yuan Reuters [BEIJING] Most leading Chinese economists believe the economy is slowing towards a soft landing this year and there is more urgency to reform the yuan currency, a government survey shows. A poll
      Reuters  -  377 words
    • 205 14 Reuters [BEIJING] China plans to loosen capital outflows further, including letting companies buy foreign currency and lend to overseas subsidiaries, the Financial News said yesterday, quoting a senior foreign exchange regulator. The State Administration of Foreign Exchange (SAFE) would "deepen reforms, provide
      Reuters  -  205 words
    • 385 14 60% in survey seek new exchange rate; 41 for wider trading band Bloomberg [SHANGHAI] China should revalue its currency in the second half of this year, according to the findings of a National Bureau of Statistics survey of state economists. About 60 per
      Bloomberg  -  385 words
    • 517 14 Bloomberg [PARIS] The economy of the euro region will rebound in the second half after surging oil prices led to a "disappointingly slow" second quarter, the European Commission (EC) said. A weaker euro, rising exports and low interest rates will spur the
      Bloomberg  -  517 words
    • 575 14 Reuters [WASHINGTON] Federal Reserve chairman Alan Greenspan, in probably his last semi-annual testimony to Congress this week, will paint an upbeat picture of growth but drop no hint the Fed is ready to pause raising interest rates. Mr
      Reuters  -  575 words
    • 558 14 Analysts see rates rising to a median 3.25% by year-end Reuters [BANGKOK] Thailand's central bank will raise interest rates by 25 basis points this week, underlining the authority's concern over the need to close a gaping current account deficit. On
      Reuters  -  558 words
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  • MALAYSIA/INDONESIA
    • 568 15  -  INDONESIA INSIGHT SHOEB KAGDA Jakarta Correspondent IN the wake of the devastating tsunami and the loss of 170,000 lives, peace once again appears tantalisingly close in Indonesia's troubled province of Aceh. Over the weekend, the Indonesian government and the Free Aceh Movement (GAM) agreed to
      568 words
    • 2376 15 VOl General Corp 0.50 0.02 234 *HH Ml row Genting 19.20 unch 279 George Kent .0.65 -0.02 147 A M Realty 1.53 -0.01 7 GHL Systems 032 -0 01 346 Abf,c 0.40 -0.03 216 Globetronics Tech 0.44 0.01 437 ACP Industries _....0.71 0.01 14 GlomacBhd 1.36 -0.01 96
      2,376 words
    • 462 15  -  By PAULINE NG in Kuala Lumpur BOLTON'S new group chief executive Azman Yahya yesterday announced a corporate restructuring that would transform the property company into a major* investment holding company headed by him. Under the scheme, Bolton would take its unit Kejora Harta private
      462 words
    • 741 15 It eyes financial software provider and hospital group [KUALA LUMPUR] Even as Khazanah Nasional Bhd finalises its acquisition of Indonesia's PT Bank Lippo TBK, the investment arm is said to be eyeing other strategic investments in the region. India crops up more than
      Source: Bloomberg  -  741 words
    • 251 15 Bloomberg [KUALA LUMPUR] The government yesterday revealed for the first time the names of privileged businessmen who were given the right to import cars, bowing to pressure from former prime minister Mahathir Mohamad who had demanded greater transparency in the car sector.
      Bloomberg  -  251 words
    • 141 15 Bloomberg [KUALA LUMPUR] Malaysia's first bond fund traded on the country's stock exchange made its debut yesterday, part of a government push to broaden the nation's capital markets. The ABF Malaysia Bond Index Fund, managed by Aminvestment Services Bhd, tracks the returns of
      Bloomberg  -  141 words
  • Page 15 Advertisements
    • 263 15 IN THE MAnER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SINGAPORE OCEAN DREAM PTE LTD (Company No. *****0384 C) (IN CREDITORS' VOLUNTARY LIQUIDATION) Extract of the Minutes of an Extraordinary General Meeting of SINGAPORE OCEAN DREAM PTE LTD held at 8 Robinson Road, #06-00 ASO Building,
      263 words

  • GREATER CHINA
    • 462 16 This could be a way for bank money to return to bourses after long absence Reuters [SHANGHAI] China's top three listed lenders, including Merchants Bank Co Ltd, are seeking approval to set up asset management firms with foreign firms, bank and industry sources said,
      Reuters  -  462 words
    • 381 16 Reuters [SINGAPORE] US oil producer Unocal Corp held a second board meeting to discuss a fine-tuned US$lB.5 billion bid from state-run Chinese company CNOOC Ltd, people familiar with the matter said yesterday. The board, meeting in California on Sunday night, discussed whether to back
      Reuters; Source: Bloomberg  -  381 words
    • 315 16 Hundreds of thousands of people have been moved to safe areas in Fujian AFP, Bloomberg. Reuters [TAIPEI] Typhoon Haitang pounded Taiwan with heavy winds and rain yesterday, injuring 34 people and shutting down airports and financial markets while China evacuated more than half
      AFP,; Bloomberg.; Reuters; AP  -  315 words
    • 404 16 Reuters [SHANGHAI] China unveiled rules yesterday allowing companies to issue warrants, in a bid to add depth to its fledgling securities market and to facilitate its efforts to make state shares tradeable on bourses. The country's two stock exchanges published the regulations
      Reuters  -  404 words
    • NOTE BOOK
      • 75 16 Reuters [SHANGHAI] State-owned Agricultural Bank of China's first-half operating profit rose 36.43 per cent to 21.83 billion yuan (554.5 billion), the China Securities Journal said yesterday. Its non-performing loan ratio fell by 1.44 percentage points in the first six months of 2005 from the
        Reuters  -  75 words
      • 76 16 Bloomberg [HONG KONGI Hong Kong's highest court will hand down a judgment on July 20 that will decide whether the government can proceed with a US$2.7 billion property trust sale, according to a statement on the government website. The Court of Final Appeal will deliver
        Bloomberg  -  76 words
      • 76 16 Bloomberg [LONDON] HBOS pic, Britain's biggest mortgage lender, agreed to pay 497.5 million yuan (*****.4 million) for a stake in China's Kinghing Trust Investment Co. HBOS will buy a 19.9 per cent stake in Kinghing, the maximum amount a single foreign investor is
        Bloomberg  -  76 words
      • 105 16 Bloomberg [HONG KONG] Shanghai Land Holdings, whose chairman Zhou Zhengyi was jailed in China for fraud, may release HK$l.B billion (*****.8 million) of its assets to shareholders under a liquidation plan to be announced "soon", the Hong Kong Economic Times reported. Zhou's New Nongkai
        Bloomberg  -  105 words
      • 40 16 AFP [BEIJING] A record 1.67 million overseas tourists flocked to Beijing in the first half of this year, a 26 per cent jump over the same period in 2004, Xinhua said. —AFP
        AFP  -  40 words
  • Page 16 Advertisements
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  • INDIA
    • 487 17 INDIA GOING ABROAD In early talks with Kamaz, it's also sewing up China, Thai deals Bloomberg [SINGAPORE] Ashok Leyland, India's second-big-gest maker of trucks and buses, said it may expand into Russia as the company seeks to broaden its overseas markets. "We
      Bloomberg  -  487 words
    • 319 17 Bloomberg [NEW DELHI] Lupin Ltd, India's biggest maker of tuberculosis drugs, is planning to buy brands and companies in the US and Europe to boost earnings from the world's biggest drug markets. "In the US, we're looking to acquire branded products for our paediatric
      Bloomberg  -  319 words
    • 236 17 [PUNE] India's second largest bike maker Bajaj Auto is setting up its first plant outside India in Indonesia, near Jakarta, its chairman Rahul Bajaj announced at the company's annual general meeting at the weekend. according to a Financial Express online report. Another
      236 words
    • 491 17 Bloomberg [LONDON] Tata Tea Ltd, which bought Londonbased Tetley Group for £271 million (***** million) five years ago, may be scouting for another acquisition. This time, the target may be better known for its chamomile tisane and citrus mint instead of the
      Bloomberg; REUTERS  -  491 words
    • 770 17 Chained to late shifts and hectic travel, Indian software engineers turn to meditation, yoga and therapeutic treatments to unwind AFP [BANGALORE] INDIAN software engineer Mehul Patel, working with cellphone maker Kyocera, arrived back in Bangalore after hectic business trips to the United States
      AFP; PHOTOS: AFP  -  770 words
    • 176 17 The Economic Times [NEW DELHI] India is under pressure from Asian countries for relaxation in the rules of origin, commonly referred to as RORs. The government has recently signed a free trade agreement with Singapore, but it is believed that the latter is
      The Economic Times  -  176 words
  • Page 17 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 513 18 BoA's Q2 profit up 12% on growth in credit card fees, retail deposits and commercial lending AP Reuters [NEW YORK] Citigroup Inc, the largest US financial institution, reported secondquarter profits below Wall Street's expectations yesterday as a result of what CEO Charles
      AP; Reuters  -  513 words
    • 508 18 [LONDON] The world's largest oil companies face increased dangers as they push the existing boundaries of technology into ever more unforgiving environments, as setbacks for two of the industry's "supermajors" demonstrated last week, the Financial Times reported yesterday. BP's flagship ultra-deep-water
      508 words
    • 468 18  -  At least one says she left because of wiretap scandal By AL LABITA in Manila FIVE more officials have quit Philippine president Gloria Arroyo's embattled government, bringing more worries to a financial market already reeling from a capital flight. They include Silvestre Afable, communications
      468 words
    • 338 18 Reuters. Bloomberg [SEOUL] Investment fund Sovereign Asset Management, the second-biggest shareholder in South Korea's SK Corp, sold its entire 14.82 per cent stake in the oil refiner worth nearly US$l billion at market prices. Speculation regarding the sale by
      Reuters.; Bloomberg  -  338 words
  • Page 18 Advertisements
    • 1774 18 ■Afllff ITTo advertise call toll free 1880 289 8822 Email: notlcesOiph.com.sg (3 I.R.E. CORPORATION LIMITED (Company Registration Number: *****2465W) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of I.R.E Corporation Limited (the "Company") will be held at 123
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  • WORLD
    • 589 19 New offer trumps buyout deal; China's Haier keen but has not bid Reuters. Bloomberg [ATLANTA] US appliance maker Whirlpool Corp on Sunday proposed to buy smaller rival Maytag Corp, in which China's Haier Group has shown interest. Whirlpool is offering for more
      Reuters.; Bloomberg  -  589 words
    • 291 19 AP [ANAHEIM] Thousands of Disney fans donned special gold-coloured Mickey ears as they streamed through the entrance to Disneyland on Sunday, 50 years after the landmark opened its gates and gave birth to the modern theme park. The festivities, which included a fireworks-and-confetti display,
      AP; AFP  -  291 words
    • 301 19 [NEW YORK/ WASHINGTON] US antitrust authorities are conducting a broader-than-expected examination of the mergers proposed by the New York Stock Exchange (NYSE) and Nasdaq,raising the possibility that they could be delayed or even derailed, the Financial Times reported yesterday. People close to the
      301 words
    • 269 19 AP [WASHINGTON] Time magazine's Matthew Cooper says a 2003 phone call with White House political adviser Karl Rove was the first he heard about the wife of administration critic Joseph Wilson apparently working for the CIA. Giving a first-person account of his
      AP  -  269 words
    • 434 19 [NEW YORK] The big four accounting firms are trying to water down plans by the US regulator to hold their staff responsible for violations of securities laws, the Financial Times reported yesterday. Deloitte, Ernst Young. KPMG and PwC are pressing the
      434 words
    • 439 19 Reuters. Bloomberg. AFP [LONDON] Bookstores around the world tallied sales of the sixth Harry Potter instalment on Sunday. Harry Potter and the Half-Blood Prince is expected to be the fastest-selling book in history, with British retailer Waterstone's forecasting that 10 million copies would
      Reuters.; Bloomberg.; AFP; AP  -  439 words
    • 522 19 He shepherded Britain into Europe during his term Reuters [LONDON] Edward Heath, who died on Sunday aged 89, shepherded Britain into Europe during his term as prime minister but he will also be remembered for long years in the political wilderness, often
      Reuters  -  522 words

  • AVIATION
    • 611 20  -  It is among a group of emerging M-E airlines, rapidly expanding globally By LISA TAN [SINGAPORE] Despite feeling the heat from boiling oil prices, the Middle East's Qatar Airways has been aggressively expanding its presence globally, and has just
      611 words
    • 322 20 Reuters [KUWAIT] The losses of Kuwait's national airline for the year ended March 2006 may rise to 40 million dinars (Ss23l million) from a previous estimate of 28 million dinars if jet fuel prices remain high, its chairman said. "Kuwait Airways
      Reuters  -  322 words
    • 312 20 Bloomberg [LUXEMBOURG] Scandinavian Airlines System and its Danish competitor Maersk Air will not have fines imposed on them for illegal market sharing reduced, Europe's second-highest court said. The European Court of First Instance in Luxembourg upheld a 39.4 mil-lion-euro (SsBo million)
      Bloomberg  -  312 words
  • Page 20 Advertisements
    • 206 20 Centre for Asia Pacific presents... Japan, China North Asia 2nd Annual Low Cost Airline Symposium 2005 KztafyH/An -4-sAugust 2005 t Key Speakers from... North Asia's new low cost airlines, including: Jeju Air (South Korea) Sang-Kit Joo, President Spring International (China) Zhang Xiu Zi, CEO, Shanghai Spring (inv) Star Flyer Inc
      206 words
    • 119 20 BT Deal of the Week Exclusive Business Class Airfares with ZUJI AIRFARE HOTEL WEATHER Bali $494 $299 Jfe. 1 Garuda Intercontinental Resort Bali Sunny TOP 10 DESTINATIONS AKfAtt (hrinegdaa from S) HOTBftomS) WEATHER Jakarta $417 (Gamete) $188 (LeMeriden Jakarta) Bangkok $49§(Scandto»tanAJine5) $252 (Intercontinental Bangkok) 4® I Mania $848 (WiippineArine) $296
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  • Page 20 Miscellaneous
    • 341 20 CRYPTIC CROSSWORD 1 Caper? Museum job ends in prison (6) H| H| IB 4 Ace parking by mum, it's clear g 9 Blind, headless toadying (6) tmm 10 Red muUet's always eaten (8) IH H H 12 Fast-moving beam around 12 the speed of-light (4) 13 Once a mysterious area
      341 words

  • AVIATION/SHIPPING
    • 564 21 AIRLINE STRIKES AP, AFP [SEOUL] Asiana Airlines, South Korea's second-larg-est carrier, cancelled almost half of its domestic passenger flights yesterday as a strike by unionised pilots intensified and negotiations to end it made no progress. The airline dropped 81 of
      AP,; AFP; REUTERS  -  564 words
    • 252 21 AP [WELLINGTON] Travel plans for thousands of Air New Zealand passengers plunged into chaos yesterday as the carrier's cabin staff launched several days of strikes over a breakdown in contract talks. Cabin staff strikes over the coming week are expected to hit up
      AP  -  252 words
    • 1629 21 CITY FLIGHT ETA FLIGHT ETD SH pn ktmmm AFHM 815 rth iiw ***** 1855 I BA 0?82 215 SQ141 1145 SQ142 0935 fi mi ;g —n—. fir" sn: SQ147 2235 sqi48 1900 iZSEf smg 0620 f 2 fs ggi «ff5 0550 SQ436 2030 AZ399; 14j0 KL838
      1,629 words
    • 482 21  -  Carriers holding back shipments from as far as Europe: port CEO By DONALD URQUHART [SINGAPORE] The impact of the ongoing truckers' strike at the Port of Vancouver is becoming severe as carriers are holding back on cargo shipments from as far away as Europe,
      AFP  -  482 words
    • PORT SHOTS
      • 55 21 Reuters [HONG KONG] China Shipping Development Co Ltd said yesterday it and its controlling parent, China Shipping (Group) Co (CSC), had decided to postpone preparations for CSC's restructuring. The Hong Kong-listed company said it would make further statements on any material developments on the restructuring.
        Reuters  -  55 words
      • 151 21 Bloomberg [LONDON] France's largest port. Marseilles, handled 2.8 per cent more cargo in first six months of the year compared with the same period last year, as oil cargoes rose. The Mediterranean Sea port handled 47.6 million metric tons of cargo, the authority said
        Bloomberg  -  151 words
      • 33 21 Reuters [LONDON] British ports and ferry company, P&O, is reviewing its corporate brokers, which are currently Citigroup and Panmure Gordon, a source said yesterday. P&O declined to comment.
        Reuters  -  33 words
    • 226 21 Reuters [SHANGHAI] China's CIMC, the world's top maker of shipping containers, said yesterday it expected profits in the first half of 2005 to more than double on continued strong demand for containers. But container makers, including CIMC and smaller rival Singamas
      Reuters  -  226 words
    • 313 21 Bloomberg [SINGAPORE] The cost of shipping oil on 2 million barrel tankers from the Middle East to refineries worldwide may rise for a fifth consecutive week as the supply of ships dwindles, shipbrokers including EA Gibson said. Thirty-six vessels, known as
      Bloomberg  -  313 words
    • 289 21 SGX '000 Mil SS W- Vd CH Offshore .038 unch 474 Oman Hup .0.79 -0.01 496 Coico Corporation .2.05 0.02 8098 CWT Distribution .0.67 0.01 177 EzraHldgn 136 -0.01 426 Freight Unks 0.06 unch 104 Grand Banks Yacht .0.95 unch 9 Java Holdings 1.24 unch 517 K1 Venture
      289 words

  • EDITORIAL & OPINION
    • 517 22 EDITORIAL IN today's globalised economy, a top global company counts people of different nationalities among its shareholders, runs its operations from across various countries and has the world as its market. All this has been made possible and easier by technological advances as well as
      517 words
    • 911 22  -  The US is fiercely cultivating ties with India but Asia's rising power has its own ideas By MICHAEL RICHARDSON AS relations between the United States and one of Asia's emerging giants, China, come under increasing strain, US connections with the region's other rising
      AFP; REUTERS  -  911 words
    • 801 22  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent IT'S been a challenging six months for the European Union and the next half-year, with Britain at the helm, looks set to be even tougher. EU policymakers head towards a traditional fourweek long August summer
      801 words
    • 1528 23  -  While FDI will certainly boost China's GDP figures, its wider impact on the economy has been mixed By TIGER TONG Recently released data suggests that foreign direct investment (FDI) flowing into China is slowing down. According to China's Ministry of Commerce, utilised FDI in
      REUTERS  -  1,528 words
    • 744 23  -  By HOWARD W FRENCH NYT AS a truck driver hauling crude from private wells sprouting up all over the arid countryside in the northern Shaanxi province, Gao had a bird's-eye view of the oil boom that was sweeping China in the *****. After years
      NYT  -  744 words
    • 633 23  -  LETTERS TO THE EDITOR Penelope Phoon Head, Association of Chartered Certified Accountants (ACCA) Singapore WE refer to the article "Govt decides against higher bar for independent directors" (BT, July 15). We welcome the revised Corporate Governance Code approved by the Government. We are, however, disappointed that
      633 words
    • 244 23  -  Edward Haddad Managing director,Asean Reuters Singapore YOUR recent article, "Next View jostles with big boys and wins big" (BT, July 7), contains some inaccuracies and we would like to make a correction. Currently, all major brokerages in Singapore are using various Reuters services. Specifically, UOB
      244 words
    • 86 23  -  Denis Distant Singapore I REFER to Jamie Ee's pathetic piece "All together now du-rai-mi-fa-so-long" (BT, Ji|ly 15). I have enjoyed reading her articles because of her unique style but this one seems to suggest that either she ran out of ideas for an
      86 words


  • 10051 24 SGX MAINBOARP 52-Wk Tal Lift Vol Day LMt Quota GrOtv Mv CrVM Nat MCap Wgh Lam Coda Company Sala rOQO) High Low »uyr SaHar Cw WI $13 10 3 5716 1st Software 5c 3.5 -0.5 3178 4 3.5 3.5 4 142 34.5 11 3148 STelecom US2c 12.5 +0.5
    10,051 words

  • 6018 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In US$ dy *yr *dy *yr %dy *yr Jul 15 Index Change Change Change Change Change Change Wofld Index Preliminary 893.7 -0.1 4.8 -0.4 3.6 -03 0.2 EAFE Preliminary BM -Oil 8.7 -08 13-05 -IJ Europe Preliminary 1173J
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  • Page 26 Advertisements
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    • 794 26 Iwtramuaoaoiwvici vßsa/vor mrm hbgwtcq wc km k» sw jkt STRAUS VENIUKEIVDS IS 3.2 22/07 25/01 28/07 31/07 02/08 STIAITS VENTUKI4/0S IS 3.2 05/08 07/08 11/08 14/08 16/08 STt/UTSVEWTUKE 7/DS IS 3.2 18/08 21/08 25/08 28/08 30/08 |AU«T»AIJAN»O»O SERVICE VBsa/vor Mwwn hbghtw m si i jkt mm std ma m «ii»
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  • Page 27 Advertisements
    • 1586 27 www.homburasud.com AUSE SERVIG (EXPORT) ETA JH SINGAPORE MISIAHI SYPNIT MIIJOUtHt ADIUUPt SINOAPORf MISIAMt STOWIT MtUOUHHI UHUM CAIYUH HE 061S 2V07 01/01 OVOt/ Ot/M W/W CAI TUN HE 06K H/W W/W 31/01 OVW OVW CArAGUIWtIOtS 29/07 01/06 10/01 13/01 lt/M CAf A6UIUIIO7S it/01 OS/W 07/W 10/W IVW CSCL XIAMEN OOKS 05/08
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    • 1118 27 VESSEL VOY SIN PKG GOLJENGATE SION 19/7 20/7 22/7 MM Ml* ~TJI H77~ [GOLDENTRADE IsiON I 26/7 I 27/7 I 29/7 1 I I PERTHM'D6E 08SA »/7 31/7 1 CAPE SANTIAGO IHMn I 2/8 I 3/8 I 5/8 1 I 1 NEW DYNAMIC 092 A 4/8 6/8 Ca>n HK *YSL
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    • 960 27 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOY SIN P.KIANG COLOMOO H. SHFVA COtMMO M M =Mz= KQIA PtKWIKA lEM4Z.2LIIII MIL 2LM QL&llfi MM INDIUGAHDHI 0095W 01 HUG 0? AUG OS AUG 08 AUG 11 AUG RAJIV GANDHI 009SW 08 AUG 09
      960 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 7586 28 ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advert Kef Vessel Voyeoe Telephone SIN Desfn Name Name Number Number SIN Desfn Name Name Number Number JKKttKKtKKtKtKtKKKKtKKKttHtKKKtKKKttKtttttKtKKKKKtKtKtKKKtKttKtKttKKKKKtKKttKtKttKHM 9NNNMMMMNNNI To ALOTAU (GUR) 2465 Papua New Guinea To ABIDJAN (ABJ) 2003 Cote D'lvoire 0 7/08 21/0e NGPl
      7,586 words
  • Page 28 Advertisements
    • 734 28 lftfMf WALLENIUS WILHELMSEN website: http://www.2wglobal.com [VESSEL Ivor |»AMP IX MAO HOW MIA SAV lAI Off NYC NEW M 0» TARONGA I AFSIB 3201 MS 6.25 M I 22/07 12/08 21/08 24/08 26/08 31/0« 21/08 TAMPERE AFSI9 UOOToes 6.30 M I 26/07 20/08 29/01 02/09 07/09 05/09 [ALYONA 1AJ506I AJ506 |601bes
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    • 903 28 vtssa vor sw pgu vissa vor sm jut CSf 2301 01W 11/07 20/07 PACOWTAM WOT It/07 19/07 PACMWDA 1516N 19/07 19/07 4175 11/07 22/07 PACBAHDA 1517W 20/07 21/07 rAC W™ l *308 24/07 27/07 CSF 2301 QM9T 2i/07 22/07 f nY77n77ETnMH^^H JMMm lilH! T2ISL »/Q7 ■W^MfM irl ll illi/iIfMHMM iMJtm
      903 words


  • PROPERTY
    • 494 30 -Bloomberg [DUBAI] England football players David Beckham and Michael Owen and other buyers face a year's delay for property they have bought on a US$5.5 billion palm-shaped man-made island in the Persian Gulf, according to Dubai-based developer Nakheel. Nakheel, controlled by Dubai's
      -Bloomberg  -  494 words
    • 472 30  -  Most of the buyers said to be doctors in higher levels of medical practice By ARTHUR SIM EVEN before Far East Organization's Novena Medical Centre has been officially launched, 45 of the 145 units have already been sold, said chief operating
      FILE PHOTO  -  472 words
  • Page 30 Advertisements
    • 316 30 AMBER ROAD DEVELOPMENT SITE FOR SALE BY PRIVATE TREATY Prime East Coast M* Amber Road Plot Ru lio 2*B Contact: Investment Properties Jeremy Lake/Galven Tan Tel: 6224 8181 6 Battery Road #32-01 Singapore *****9 CB RICHARD ELLIS Ijg I p r j me Residential Site District xo Sjfl 3k 21
      316 words
    • 324 30 I' RTE fUnnlmm ff ragDebenham* I Tie Leung —ff n I Freehold 36-storey* II H J Marriott Hotel I 0 l Condominium Site off Orchard Road -O «|J Atn NgMAm C ss >o,m N3 ,ty One of the larqest freehold residential <= Orchard Station H Singaowe ott»d sites available in
      324 words