The Business Times, 26 July 2005
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2005-07-26
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The Business Times
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Title Section13 2005-07-26 1 THE BUSINESS TIMES siN&wKj&irSs* at http://business-tmie&.asial .com.sg MICA (P) 069/09/2005 Tuesday July 26,200513 words
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Article, Illustration783 2005-07-26 1 TEH HOOI LING - Yuan reform, property measures, decent stock valuations set to drive STI beyond current peak By TEH HOOI LING [SINGAPORE] A confluence of factors the relaxation of property purchasing regulations, the unpegging of the Chinese yuan and still decent valuations could propel783 words
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430 2005-07-26 1 SIOW LI SEN - By SIOW LI SEN [SINGAPORE] Customers of DBS Bank, HSBC and Standard Chartered Bank have begun receiving letters saying they will'pay more for their home loans. And talk is rife that other banks will follow suit. But there is no industrywide strategy for the430 words
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Advertisement146 2005-07-26 1 Jj Jkk ec. 'T', 1 -V h m > p :> >£ Chief executive's contract not renewed FG2 s. V > St &Z&±iL S&ffKZ cl MORE REPORTS Fund managers pick Asian plays pg 4 Yuan won't be fully convertible for next 5 years pg 13 Hedge fund traders expect further146 words
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Advertisement8 2005-07-26 1 111 8 "*****1******4 Markets Dt§est oft Pg 48 words
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TOP STORIES
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Article, Illustration567 2005-07-26 2 WEE LI-EN - He'll be on secondment from National Skin Centre up to a year By WEE LI-EN [SINGAPORE] Professor Goh Chee Leok, senior consultant dermatologist at the National Skin Centre (NSC), National Healthcare Group, has been appointed interim chief executive of the National KidneyARTHUR LEE - 567 words
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Article, Illustration671 2005-07-26 2 VEN SREENIVASAN - By VEN SREENIVASAN [SINGAPORE] Orange Star, the new airline company controlling Valuair and Jetstar Asia, will boast one of the most comprehensive regional networks among Asian low-cost airlines. Together, the two carriers currently serve*sHfh| routes: Perth, Hong K9B& Jakarta, Bangkok, Chengdu, Xiamen,671 words
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Article644 2005-07-26 2 Capita Mall Trust CEO sounds warning on Reits THE party in Singapore's Real Estate Investment Trusts (Reits) market could end within 18 months, if these trusts are not able to produce the sort of returns foreign institutional investors are looking for, warns a pioneer in the sector. "My644 words
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516 2005-07-26 2 PAULINE NG - Board's decision comes in defiance of Mahathir By PAULINE NG in Kuala Lumpur PROTON chief executive Tengku Mahaleel Ariff will not have his contract renewed, the board of Malaysia's national carmaker announced yesterday. But the action by the Proton directors comes in defiance of516 words
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306 2005-07-26 4 Times of India [BANGALORE] The sale of Barings' stake in MphasiS is finally at the end of the road, say sources. Singapore's Temasek Holdings is all set to become the primary investor in recapitalisation of the company. According to sources, MphasiSTimes of India - 306 words
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Article135 2005-07-26 4 sn 2.309.61 (-9.73) ST INDEX FUTURES 2,310.00 (-9.00) siMsa 275.92 (-1.11) SIMSa FUTURES 276.60 (-0.50) MARKETS Monday Change KLSE COMP 939.84 +0.15 NIKKEI 225 11,762.65 +67.60 HANG SENG 14.794.03 +7.57 SET INDEX 659.64 +10.72 JAKARTA COMP 1,169.75 -2.49 MANILA COMP dostd SEOUL COMP 1.089.70 +15.48 SHENZHEN B 208.12135 words
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Article, Illustration890 2005-07-26 4 KALPANA RASHIWALA - Underperforming trusts risk flight of foreign money within 18 months By KALPANA RASHIWALA [SINGAPORE] The party in the Singapore's Real Estate Investment Trusts (Reits) market could end within 18 months, if these trusts are not able to produce' the sort of returns foreign890 words
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663 2005-07-26 4 YUAN REVALUATION Money will flow into region as Asian currencies rise: analysts Reuters [HONG KONG] Banks, utilities and property stocks are some of the Asian domestic plays that fund managers see as winners after China revalued the yuan in aReuters - 663 words
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Advertisement52 2005-07-26 2 Be Among The Best In Business a comprehensive directory of key companies in Singapore. u P~t°~date profile more than 8,000 HHHHRHI companies, including senior management contacts and nature a resource for business information For more details on your company's representation in tho. Buku Merah, call Tel: 6213 9168 or email52 words
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Advertisement186 2005-07-26 4 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access our ontme news anytime. CaN 6388-3838 to subscrfce and activate your onfine account What are the competitive benefits of branding? Why are brands so (Mm few and far between among Asian companies? And186 words
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COMPANY NEWS
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383 2005-07-26 5 JOYCE KOH - Bid to finalise debt arrangement terms for meeting with creditors By JOYCE KOH CITIRAYA Industries yesterday applied to the High Court for an extension of an order to restrain creditors from pursuing court proceedings against it. It wants the stay order to continue until a383 words
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Article, Illustration345 2005-07-26 5 Bloomberg SHARES of Chartered Semiconductor Manufacturing Ltd, Singapore's biggest chipmaker, yesterday fell as much as 6.3 per cent their biggest drop in four months after Merrill Lynch Co downgraded the stock to a "neutral" from a "buy". Chartered shares fell to an intra-dayBloomberg; FILE PHOTO - 345 words
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662 2005-07-26 5 WONG WEI KONG - HOCK LOCK SIEW By WONG WEI KONG IT MAY have posted a smaller-than-expected quarterly loss, but Chartered Semiconductor Manufacturing's long-term viability remains very much in question. Last week, Chartered the world's third-largest semiconductor foundry reported a lower loss than the market was expecting. The662 words
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Article, Illustration296 2005-07-26 6 AMIT ROY CHOUDHURY - Keppel T&T Q2 net down 8.1 Last year's profit included a net exceptional gain of almost $2 million By AMIT ROY CHOUDHURY KEPPEL Telecommunications Transportation (Keppel T&T), which designs and upgrades cable networks, has posted a sec-ond-quarter net profit of $10.15 million, a fall of 8.1 per cent from the296 words
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Article, Illustration384 2005-07-26 6 GENEVIEVE CUA - By GENEVIEVE CUA PRIVATE equity firm Hupomone has raised US$6B million for its debut fund the Flagship Capital Fund which aims to invest in Asian enterprises that can be groomed into global enterprises. Flagship aims to raise US$l2O million by end--2006. To date,384 words
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270 2005-07-26 6 MICHELLE QUAH - By MICHELLE QUAH CERAMIC-TILE maker ASA Group Holdings issued a profit warning yesterday saying it is expecting to report a loss for the first six months of the year ended June 30 because of higher crude-oil prices and China's credit-tightening policy.270 words
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COMPANY BRIEFS
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Article87 2005-07-26 6 FURNITURE maker Koda Ltd said a fire broke out before midnight on Sunday at its operations in Johor, destroying a factory building, which was used to store raw materials and some finished products. The estimated damage is RMS million (552.22 million). Koda said its facilities have87 words
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Article81 2005-07-26 6 LUXURY car distributor Wearnes International, which its parent WBL Corporation has proposed to take private, said an open-market revaluation of its 12 properties had resulted in a net revaluation surplus of $40.2 million. This raised its unaudited book net tangible assets of 83 cents a share as81 words
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Article72 2005-07-26 6 DBS Group Holdings has appointed Ang Kong Hua as chairman of its audit committee. It said Mr Ang satisfies the requirements for being an independent director, adding that although DBS Bank its wholly-owned subsidiary engages in banking services to several companies, including NatSteel, for which72 words
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Article69 2005-07-26 6 METAL logistics service provider GKE International slipped into the red for its full year ended May 31,2005, with a net loss of $689,000, against a net profit of $702,000 previously. Turnover dived 35.3 per cent to $12 million. The results included a gain of69 words
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360 2005-07-26 7 MICHELLE QUAH - Company says it has narrowed search for acquisition to a few companies By MICHELLE QUAH SEA View Hotel, whose shares have been suspended from trading since end-2003, has been granted a further extension of three months to Oct 31 for360 words
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Article, Illustration672 2005-07-26 7 Bloomberg SHARES of SembCorp Marine Ltd and Keppel Corp, two of the world's biggest builders of oil rigs, may rise to records this year as analysts and investors say a surge in oil prices will increase the companies' revenue. SembCorpBloomberg; FILE PHOTOS - 672 words
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Advertisement33 2005-07-26 5 iliM rSmt 111!• Ki •PfMaaa^^M pff•'4& k, >- "-^mmmfh^ mm# I I *3 II SMI I I shb I I f—""^^"f**^*"/*^^! ■an?—l J Lbm |ml '^^^VK|HB tj I I K^^^|g|^^dflfl| l 1 I P^l33 words
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Advertisement621 2005-07-26 6 SfsNMMO IMI SPi Head Office: Turin, Italy. Sanpaolo IMI S.p.A. Singapore Branch: 6 Temasek Boulevard #42-04/05, Suntec Tower Four, Singapore *****6 Consolidated Balance Sheet As of 31 December 2004 (millions of Euro) 31/12/04 31/12/03 Assets Cash and deposits with central banks and post offices 1,348 1,474 Treasury bills and similar621 words
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Advertisement673 2005-07-26 6 Consolidated Statement of Income As of 31 December 2004 (millions of Euro) 31/12/04 31/12/03 Interest income and similar revenues 7,195 7,443 of which: loans to customers 5,799 6,215 debt securities 926 727 Interest expense and similar charges -3,508 -3,701 of which: amounts due to customers 937 1,050 securities issued 1,649673 words
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Advertisement464 2005-07-26 7 ADVERTISEMENT MghejrvAeMevement Just whafrthe new Doctors ordered UWA is one of Australia's elite 'Group of universities and Hp is ranked within the nation's top five universities in the influential K* 1 Boss surveys. Dr Hoe, a graduate of UWA GSM's MBA programme, joined II I 111 fl| the first Singapore464 words
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SINGAPORE MARKETS
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Article, Illustration530 2005-07-26 8 JOYCE KOH - STOCKS Banks, property stocks drag down index; analysts expect China plays to stage a revival JOYCE KOH Reporter THE local bourse grinded to a halt yesterday after four straight days of partying from changes in property rules and relaxation of currency controls. But while interestSource: Bloomberg - 530 words
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TRADES TO WATCH
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433 2005-07-26 8 CAPITAIAND'S chief executive Liew Mun Leong yesterday exercised 50,000 share options at $2.06 a share, giving him a direct stake of 0.002 per cent in the property giant. His deemed interest of 1.35 million shares, or 0.051 per cent of the company, remained433 words
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90 2005-07-26 8 JOYCE KOH - Compiled by JOYCE KOH OCBC Bank has purchased another 22,182 of the bank's shares through market acquisition. The shares were purchased yesterday at $12.50 each, costing $277,617.09 in total. To date, OCBC has bought about 11.9 million of its shares, or 0.9190 words
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Article, Illustration432 2005-07-26 8 OTHER SINGAPORE INDICES Jul 25 VALUE CLOSE BT OB/OS 89.00 -151.00 BT CADI -*****.00 -36.00 BT 10-day MA -*****.00 +9.00 All-SG Equities 593.23 -0.46 SG Equities Elect 137.89 -0.42 SG Equities Fin 1639.38 -16.39 SG Equities Prop 642.11 -3.08 SIMSCI 275.92 -1.11 SiMSCI Futures 276.60 -0.50 MOST ACTIVE STOCKS VOLUME432 words
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Article, Illustration931 2005-07-26 8 JOYCE KOH - Compiled by JOYCE KOH DBS Group Holdings July 25 dose: $15.50 CIMB-GK, My 25 WE have downgraded our FYOS EPS estimate by 5 per cent and our call from "outperform" to "neutral". The stock has done well recently on the back of what was seen by some as asset-reflationarySource: Bloomberg - 931 words
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Article, Illustration528 2005-07-26 8 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent THE Malaysian ringgit was a standout winner in Asia yesterday, confidently pushing its way higher on the second day after it was unhitched from its fixed peg of 3.8 to the US dollar late last Thursday. It finished theSource: Reuters - 528 words
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SINGAPORE NEWS
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Article, Illustration529 2005-07-26 9 UMA SHANKARI - Its target market will include young professionals and students By UMA SHANKARI TECH-PHILES across the island have a new reason to be excited the launch of Inboxs at Funan Mall. A first in Singapore, Inboxs on level five of Funan showcases zones529 words
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Article, Illustration350 2005-07-26 9 SOAP operas and phones go hand in hand. That was what Mobile One (Ml) announced yesterday, in introducing Asia's first En-glish-language thriller drama made for viewing on third generation (3G) mobile phones. The drama, called POV Murder, will be available from Aug 3350 words
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SINGAPORE ROUNDUP
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Article40 2005-07-26 9 ONE°I 5 Marina Club yesterday said it will offer privileges and incentives to members even before the club opens. So far, it has organised two members' parties, and it plans a boat jamboree on National Day.40 words
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41 2005-07-26 9 SINGAPORE is expected to reap $220 million in direct spending from companies attending this week's inaugural MICE Asia Congress. Delegates control $2.2 billion worth of business in the meetings, incentives, conventions and exhibitions trade.41 words
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Article272 2005-07-26 9 THE Housing and Development Board (HDB) and the Urban Redevelopment Authority (URA) will outsource their car parks enforcement function from Aug 1, and retrench a combined 458 staff as a result. A joint statement yesterday from both statutory boards said that 356 HDB staff272 words
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Article483 2005-07-26 9 Bloomberg SINGAPORE'S consumer prices unexpectedly fell in June for the first time in two years as transport and housing costs declined, according to government data released yesterday. The 0.2 per cent decline in the Department of Statistics' consumer price index compared with the median forecast ofBloomberg - 483 words
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Article623 2005-07-26 9 UMA SHANKARI - By UMA SHANKARI AMANDA Foods chief executive Julian Andriesz first ventured into Vietnam in 1989 to set up an office to trade seafood. This was after it had established its headquarters in Singapore. When the company was ready to invest in a seafood processing plant623 words
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437 2005-07-26 9 WEE LI-EN - The group will have consolidated total sales of 613m euros By WEE LI-EN SICPA Holding SA will divest its packaging ink division which accounts for two-thirds of its current turnover to the Siegwerk Group next month pending regulatory approval. SICPA, headquartered437 words
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Advertisement95 2005-07-26 9 can assist you with off shorn structures, shelf companias and incorporations in ALL jurisdictions including: ftritnh Virgin Islands Cayman Islands I Bahamas ZZ Mauritius Hongkong Samoa Full nominee, management secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate i planning. For95 words
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SMEspotlight
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Article, Illustration717 2005-07-26 10 NANDE KHIN - Franchising is especially useful for small and medium-sized enterprises, consultant Albert Kong tells NANDE KHIN NANDE KHIN MENTION franchising, and chances are most people would think of fast food giants like McDonald's or Burger King. What is most often overlooked is franchising's link with small and medium-sizedCHRIS LOH - 717 words
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223 2005-07-26 10 ALBERT Kong is not just any consultant; he walks the talk too. He expanded his consultancy outfit Asia Wide Franchise Consultants via franchising. "I practise what I preach," he said. Mr Kong is one of less than 10 people in Asia to hold the Certified Franchise Executive223 words
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Article, Illustration920 2005-07-26 10 MINDY TAN - By MINDY TAN FOUR years into its programme for online education, a joint venture between Universitas 21 and Thomson Learning, Universitas 21 Global established in 2001, has been hailed as a huge success. The venture launched its programmes throughout Asia, Australia and London in 2003. ItsFILE PHOTO - 920 words
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Article, Illustration745 2005-07-26 11 KEOY SOO EARN - Intellectual property is not the domain of large high-tech organisations. Smaller businesses can benefit from IP too. KEOY SOO EARN explains KEOY SOO EARN INTELLECTUAL property (IP) is a hidden treasure that can be found in every successful business, large or small. The first stepFILE PHOTO - 745 words
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Article, Illustration531 2005-07-26 11 UMA SHANKARI - By UMA SHANKARI LISTENING to an iPod often brings to mind Apple, its rivalry with Microsoft, and local player Creative, but rarely does anyone pay attention to its humble plastic casing that comes in a brilliant array of colours. However, for local mould producer JinYEN MENG JIIN - 531 words
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185 2005-07-26 11 STANDARD Chartered is extending the submission deadline of its Business Circle China and India Competition due to strong interest from small and medium-sized enterprises (SMEs). The deadline has been extended by two weeks and entries will now close on Aug 13. "This competition has generated185 words
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Article, Illustration855 2005-07-26 12 JOSEPHINE TAY - SMALL CAPS Super Coffeemix is ready to take on the world, its chairman tells JOSEPHINE TAY JOSEPHINE TAY RIDING on its recent success in clinching a manufacturing contract from global retail powerhouse Procter Gamble for Pringles potato chips, Super Coffeemix is poised to take theARTHUR LEE - 855 words
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368 2005-07-26 12 TEH HOOI LING - By TEH HOOI LING PROFIT-taking hit a number of stocks in our small cap portfolio in the last five sessions to yesterday, causing the overall portfolio to slip. The value of the portfolio fell 1.3 per cent, a worse decline than the UOB Sesdaq Index's368 words
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Article34 2005-07-26 12 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ Lower Risk;^ Low to Medium Risk;& Medium to High Risk;** Higher Risk;open-ended;+Before subdivision of units;After subdivision of units;SP after stock split N.A-Non Dealing Day34 words
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Advertisement492 2005-07-26 10 lIMDONESIH THE NEW CHHPTS? CIMCDDnDC mdaaHugustl2,2oos SINuHPDRE __TORUM2OOS Programme 8.30 am AiiM and r cfbO'tUoH of putieipniti 2.00pm Private kwaftmanc Opportunity StMion* CEO P&mI? 8.50 am Arrival polmdal pfMptcti, Unflurpasaad ncumi 9.00 am OFFICIAL CONFER&tCE OPENING CEVUENONY Mr. Anggfeo Abimanyu* \AI Li. mJ C f rt Jll yfl n ~I492 words
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Advertisement97 2005-07-26 11 Introducing simple, automated back up for small business servers CZfi With automated backup software and no media to swap, the Maxtor One Touch™ It (V Small Business Edition is the easiest way to protect your data. Simply connect the drive, install the software, and your data will be backed up97 words
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Advertisement24 2005-07-26 12 Head to The New Paper Fast Ads for beauty haircare services! Buy It. Ml It Find It v ,r t: .< < v '> V < <V o24 words
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FOCUS: AFTER THE FLOAT
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544 2005-07-26 13 China concerned hedge funds may cause it to plunge Bloomberg. Reuters [BEIJING] China will not make its currency fully convertible for at least five years because it worries that hedge funds may force the yuan to plunge, much as happened toBloomberg.; Reuters - 544 words
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452 2005-07-26 13 AP [BEIJING] The Chinese government told US officials in advance of its plan to drop the yuan's link to the US dollar last week and raise its exchange rate, news reports said yesterday. US Treasury Secretary John Snow learnedAP - 452 words
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Article, Illustration37 2005-07-26 13 [TAIPEI]A woman with toddler in arms at a local securities branch in Taipei. Taiwan share prices closed 0.21 per cent lower, on concerns China's yuan revaluation will trigger a rise in Asian currencies. AFPAFP - 37 words
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Article, Illustration625 2005-07-26 13 SHOEB KAGDA - INDONESIA INSIGHT A stronger yuan spells vast opportunities for Indonesia if it can keep costs under control while improving its investment climate SHOEB KAGDA Jakarta Correspondent CHINA'S decision last week to revalue the yuan is "much ado about nothing" for Indonesia's financial625 words
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Article, Illustration602 2005-07-26 13 NEIL BEHRMANN - By NEIL BEHRMANN in London HEDGE funds trading currency and bond markets are betting on a further 5 per cent revaluation of the yuan. According to hedge fund sources and traders, macro hedge funds that actively trade currency and bond marketsPhotos: AFP - 602 words
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319 2005-07-26 13 Bloomberg [KUALA LUMPUR] Currency speculators dived into Malaysia's bond market yesterday, betting on further strengthening of the ringgit after its peg to the US dollar was severed last week, bond traders said. The ringgit strengthened as much as 0.7 per cent against theBloomberg - 319 words
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MALAYSIA/INDONESIA
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Article, Illustration669 2005-07-26 14 Currency gain will reduce group's costs to repay debt, says report Bloomberg [KUALA LUMPUR] Investors should buy bonds of Tenaga Nasional, Malaysia's biggest publicly traded foreign-currency borrower, because the nation's decision to let its currency gain will reduce costs to repay debt, accordingBloomberg; AFP - 669 words
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264 2005-07-26 14 AFP [JAKARTA] A top Indonesian election official went on trial yesterday for a multi-mil-lion-dollar corruption scandal surrounding landmark polls that installed anti-graft President Susilo Bambang Yudhoyono. Election commission treasurer Hamdani Amin was charged with two counts of criminal corruption beforeAFP - 264 words
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444 2005-07-26 14 Bloomberg [JAKARTA] Swissasia Global, controlled by Austria's fourth-largest bank, expects to complete the sale of its 52 per cent stake in Indonesia's PT Bank Lippo in September. Khazanah Nasional, Malaysia's state investment company, said on July 17 that it will buy theBloomberg - 444 words
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Article, Illustration549 2005-07-26 14 AFP [VIENTIANE] South-east Asian nations were yesterday grappling to find a face-saving way for mili-tary-ruled Myanmar to forego the 2006 chairmanship of the 10-nation Asean (Association of South-east Asian Nations) and cool a heated row, a senior diplomat said. The Asean ministers met late yesterdayAFP; REUTERS - 549 words
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GREATER CHINA
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363 2005-07-26 15 It claims ownership of designs to Rover 25 and 75 cars and engines: report [LONDON] The £50 million (Ssl46 million) sale of Britain's MG Rover to China's Nanjing Automobile, agreed last Friday, could be challenged in the courts by rival bidder Shanghai363 words
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NOTE BOOK
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93 2005-07-26 15 Bloomberg [BEIJING] Chinese textile exports rose 21 per cent in the first six months from a year earlier, to U5550.35 billion as manufacturers rushed shipments ahead of quotas imposed by the US and Europe, the government said. Exports to the US rose 76Bloomberg - 93 words
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77 2005-07-26 15 Reuters [HONG KONG] A bond issue of up to US$2OO million by Malaysia's Hong Leong Bank Bhd has so far attracted US$35O million in orders, a market source said yesterday. The lower tier II subordinated issue, which has call options after five years, isReuters - 77 words
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77 2005-07-26 15 Bloomberg [HONGKONG] ICICI Bank Ltd, India's second-largest bank in which Temasek Holdings has a stake plans to open its first Hong Kong branch this year, seeking opportunities related to China, the South China Morning Post said, citing joint managing director Lalita Gupte. TheBloomberg - 77 words
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120 2005-07-26 15 Reuters [BEIJING] World number one Tiger Woods will head at least 20 of the world's top 50 players in November's Champions tournament in Shanghai, set to be the richest golf event in Asia. Up to 100 players will compete for US$5 million inReuters - 120 words
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211 2005-07-26 15 Bloomberg [BEIJING] Industrial Commercial Bank of China, the country's biggest lender, said operating profit is expected to gain at a faster pace this year than in 2004 after a lacklustre performance in the first half. Operating profit will rise 20 per cent toBloomberg - 211 words
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485 2005-07-26 15 F1's boss says talks 'unremarkable', prefers status quo Reuters [HONG KONG] Tycoon Li Ka-shing's Tom Group said .yesterday it is premature to say it is in talks on a specific deal to buy the Formula One auto racing group, but did notReuters - 485 words
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Article, Illustration402 2005-07-26 15 MYSTERY ILLNESS AP. AFP [HONG KONG] Hong Kong supermarkets yesterday halted the sale of frozen pork from China's southern Sichuan province, where a mystery illness killed at least 17 farmers who slaughtered either sick pigs or sheep. Hong Kong officials sought to assureAP.; AFP; AP - 402 words
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249 2005-07-26 15 AP [LOS ANGELES] A major shareholder of Unocal Corp has urged the company's board to reconsider its endorsement of a takeover bid by Chevron Corp over a higher offer by a Chinese state-owned oil company, saying the board may be breaking the lawAP - 249 words
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Advertisement132 2005-07-26 15 r 1 1 The Straits Times Recruit I i I If" "1 I The first door to I J I your world of opportunities I i J 1 I i I 9 H| H I H S L Introducing a free-flow buffet with a Plaza Brasserie (formerly Cafe Plaza) is132 words
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Advertisement49 2005-07-26 15 THE NEPTUNE COLLYER QUAY DIANXIN AT THE NEPTUNE Enjoy excellent lunch and dian xin served on trolleys. Reservations: 6224 3922 (Sg) A division of Overseas Union Enterprise Limited (Company Registration No. *****0050E) Managed by Meritus Mandarin Singapore 7th Floor, Overseas Union House, ColTyer Quay Singapore *****1 Tel:+6s 6224 392249 words
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INDIA
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675 2005-07-26 16 Move aimed at easing inflationary pressures without choking growth Bloomberg [NEW DELHI] India's central bank said yesterday inflationary pressures "continue to persist", suggesting it may raise key interest rates at its monetary policy review today as cheap credit fuels consumer demand. The Reserve BankBloomberg - 675 words
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138 2005-07-26 16 Bloomberg [NEW DELHI] Ford Motor Co, the second-biggest US carmaker, plans to start selling a new car in India this year as it seeks to expand its share of the market in Asia's fourth-largest economy. India's Hindustan Mo--tors Ltd will make the petrolBloomberg - 138 words
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473 2005-07-26 16 Reuters [MUMBAI] India's top car maker, Maruti Udyog Ltd, reported a better-than-ex-pected 32 per cent rise in quarterly profit as cost savings and strong demand for its new Swift hatchback model outweighed falling sales of other vehicles and higher raw materials prices. TheReuters - 473 words
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Advertisement826 2005-07-26 16 Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE SECOND QUARTER ENDED 30 JUNE 2005 The Directors of Keppel Telecommunications Transportation Ltd advise the following unaudited results of the Group for the second quarter and half year ended 30 June826 words
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Advertisement11 2005-07-26 16 Isl tjL I Lianhe Zaobao IJipsH I |#W I m I11 words
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Advertisement199 2005-07-26 16 |HH Gti toll-free 1800 289 8822 In The Matter Of The Companies Act, Cap. 50 And In The Matter Of HE XING ENGINEERING PTE LTD (Incorporated In the Republic of Singapore) Reg. No. *****0991 M NOTICE OF CREDITORS' MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, CAP. 50 NOTICE199 words
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Advertisement15 2005-07-26 16 Head to The N«w Paper Fast Ads for job opportunities! Buy it MItFM It f15 words
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ASIA-PACIFIC/WORLD
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Article, Illustration598 2005-07-26 17 AL LABITA - She calls for charter change as Congress proceeds with impeachment rap By AL LABITA in Manila PHILIPPINE President Gloria Arroyo vowed yesterday to pursue her economic reform agenda "whatever the political cost" as Congress began proceedings to impeach her for "stealing, lying and cheating".REUTERS - 598 words
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557 2005-07-26 17 [NEW YORK] For the first time in 15 years, US retail investors put more money into international equity funds than in US funds as they track the shift in returns arising from the falling US dollar, the Financial Times reported yesterday. More557 words
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362 2005-07-26 17 Bloomberg [NEW YORK] Blackstone Group, the buyout firm cofounded by Peter G Peterson and Stephen A Schwarzman, raised US$l2.5 billion from investors to start the world's largest takeover fund. Blackstone received commitments of US$ll billion for one fund, plus US$l.5 billionBloomberg - 362 words
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399 2005-07-26 17 Deal would merge two of the world's biggest generic drug makers NYT. Reuters IN yet another deal among generic drug makers, Teva Pharmaceutical Industries is close to acquiring the Ivax Corp for about US$7.5 billion in cash and stock, sources said lateNYT.; Reuters - 399 words
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291 2005-07-26 17 [CHICAGO/LONDON] The idea that cocoa could actually be good for you may sound like a guilty chocoholic's fantasy. But Mars, the confectionery maker, was due to unveil research showing that cocoa compounds could help treat diabetes, strokes and vascular disease, the Financial Times291 words
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291 2005-07-26 17 LATEST US DATA Reuters. Bloomberg [WASHINGTON] Sales of existing US homes rose 2.7 per cent in June to a record pace as home prices soared 14.7 per cent from a year ago, the biggest jump in nearly 25 years, aReuters.; Bloomberg - 291 words
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WORLD WATCH
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112 2005-07-26 17 Reuters [TOKYO] The Japanese government said it will sell shares of Central Japan Railway Co (JR Tokai) at a 2.1 per cent discount to yesterday's closing price, valuing the offer at U554.27 billion and making it the biggest domestic share offering inReuters - 112 words
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62 2005-07-26 17 AFP [WELLINGTON] New Zealand Prime Minister Helen Clark yesterday called parliamentary elections for Sept 17, when her centre-left Labour Party will seek to overcome a resurgent opposition to win a third term in office. Recent polls have shown the leading opposition party, theAFP - 62 words
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50 2005-07-26 17 Bloomberg [MANILA] Philippine Long Distance Telephone Co (PLDT) offered to buy Benpres Holdings' Bayan Telecommunications in exchange for its stake in Beyond Cable, which they jointly own, Philippine Daily Inquirer reported. Bayan Telecom operates in Manila and some other parts of the country.Bloomberg - 50 words
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78 2005-07-26 17 AFP [TOKYO] Microsoft said it will go on an offensive in Japan by launching its sleek new Xbox 360 video-game machine with more than 100 titles in time for the holiday shopping season at the end of the year. Taking its battle with NintendoAFP - 78 words
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96 2005-07-26 17 Reuters [NEW YORK] Second quarter earnings growth among the biggest US companies is outstripping expectations and is now forecast to top double digits for the 13th straight quarter, according to Reuters Estimates. Based on profit growth among the 204 companies in the S&PReuters - 96 words
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AVIATION
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Article, Illustration609 2005-07-26 18 High oil prices, govt curbs, intense competition among large numbers cited AFP [SINGAPORE] Asia's highly competitive low-cost airline industry is set for a wave of mergers and failures, analysts said yesterday, following Jetstar Asia's tie-up with Singapore-based rival Valuair. High oilAFP; FILE PHOTO - 609 words
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360 2005-07-26 18 Bloomberg [KUALA LUMPUR] Malaysian Airline System Bhd, the nation's biggest carrier, said it will lease five 737-800 planes made by Boeing Co as early as in October for use on new destinations in India and China. The airline will lease three 737-800Bloomberg - 360 words
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434 2005-07-26 18 Bloomberg [SEOULJ The pilots' union of* Asiana Airlines Inc, South Korea's second-big-gest carrier, said the strike they've been having since July 17 won't last as long as 90 days, rejecting a report by the Korea Economic Daily The pilots, who areBloomberg - 434 words
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200 2005-07-26 18 Bloomberg [HONG KONG] Cathay Pacific Airways Ltd, Asia's second-most profitable carrier, will increase its surcharge on long-haul flights by 33 per cent starting next month to cover the rising cost of jet fuel. The airline won permission from Hong Kong's CivilBloomberg - 200 words
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Article385 2005-07-26 18 AIRLINE CODES: AA: American Airlines (AAL), AF Air France (AFR), AI: Air India (AK), AY Finnair Oy (FIN), AZ: Alitalia Airlines (AZA),BA: British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR EVA385 words
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Page 18 Advertisements
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Advertisement124 2005-07-26 18 BT Deal of the Week Exclusive Business Class Airfares with ZUJI i M AIRFARE HOTEL WEATHER Jakarta $417 $176 JB. Garuda Intercontinental Mid Plaza Jakarta Cloudy CTWDtSWWIOK. MWMtgtedwfamt) Hoiaow.il IWHUB Bangkok $499 (Scandhavian Airlines) $228 Ba ngfcok Resort tmrnmmmt t $151 *»>**»*• %> Hong Kong $848 (China Airlines) $519 (Ritz124 words
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Page 18 Miscellaneous
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Miscellaneous236 2005-07-26 18 CRYPTIC CROSSWORD 1 Prescription issued with tab--1 It delivers if I press end rough- —LJ——LJ—— 13 Memorise Shakespearean Lh 23 Capital account's credit note 28 Express in grand campaign 1 1 1 1 1 1 J I for some tabloids? (6,5) dowm 9 Hairdresser's perk? (6,7) Across: 1 Take a236 words
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SHIPPING
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Article, Illustration503 2005-07-26 19 GEORGE JOSEPH - Govt offering incentives to encourage them to make earlier shift By GEORGE JOSEPH [SINGAPORE] Companies servicing the $7 billion bunkering industry here have moved fast to switch to new double-hulled tankers, thus improving operational efficiency and keeping abreast of moves to further raise Singapore's503 words
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305 2005-07-26 19 Bloomberg [SINGAPORE] The cost of shipping crude oil from the Persian Gulf to refineries worldwide may stay near a four-month high this week as oil companies finish hiring ships to load cargoes in August, shipbrokers said. "Rate levels have steadied afterBloomberg - 305 words
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Article, Illustration405 2005-07-26 19 Bloomberg [SINGAPORE] Neptune Orient Lines Ltd, which operates Asia's second-largest container line, handled 13 per cent more containers in the four weeks to July 1, helped by rising demand for goods made in Asia. The company's container shipping unit, APL Ltd, carried 156,600Bloomberg; FILE PHOTO - 405 words
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176 2005-07-26 19 Bernama [MELBOURNE] Australia's maritime industry is a likely avenue for attack by terrorists groups, the country's opposition leader Kim Beazley says. Speaking at the annual transport conference Auslntermodal 2005 in Sydney, Mr Beazley said Australia was "way behind the eight ball" in terms ofBernama - 176 words
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Article203 2005-07-26 19 Bloomberg [SEOUL] Hyundai Heavy Industries Co, the world's largest shipbuilder, said that the value of its orders for building ships, engines, production platforms and other engineering products more than doubled in June on increased orders for more profitable projects. Hyundai Heavy won contracts valued atBloomberg - 203 words
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459 2005-07-26 19 NYT [NEW YORK] The oil industry has agreed to contribute US$2 billion to help clean up spills of a gasoline additive that is fouling groundwater in exchange for immunity protection against dozens of lawsuits. But the industry's proposed contribution, which would goNYT - 459 words
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Article, Illustration454 2005-07-26 19 DONALD URQUHART - By DONALD URQUHART [SINGAPORE] Tolls on the Panama Canal are set to double or even quadruple over the next 20 years if the canal is to realise its ambitious expansion plans, putting the cost of transiting far higher than the Suez canal, accordingAFP - 454 words
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Article296 2005-07-26 19 S6X '000 M25 SS Vol CH Offshore 0.39 0.01 566 ChuanHup .0.82 unch 1011 Coico Corporation .2 14 0.05 3444 CWT Distribution.... .0.72 0.01 62 EzraHldgi 1.27 -0 03 2500 Freight Links 0 08 0.01 1550 Grand Banks Yacht .036 unch 0 Jay a Holdings. 1.15 -0.01 377296 words
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EDITORIAL & OPINION
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Article524 2005-07-26 20 EDITORIAL IT has long been held that general meetings of Umno, the dominant party in Malaysia's ruling National Front coalition, give a better idea of political directions than even the country's parliament. Last week's session did not disappoint with Prime Minister and party leader Abdullah Ahmad524 words
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Article, Illustration1229 2005-07-26 20 KEN BELSON - One-time rivals now have multiple tie-ups as Sony seeks to regain edge and boost profits By KEN BELSON NYT THEY go head-to-head with their televisions, DVD recorders and camcorders: Sony, the world's best-known electronics maker, and Samsung Electronics, the hard-charging upstart. Yet in a twist emblematicNYT; BLOOMBERG; REUTERS - 1,229 words
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Article, Illustration766 2005-07-26 20 PAUL SAMUELSON - THE BOTTOM LINE PAUL SAMUELSON Tribune Media Services HELPED a bit by the American Marshall Plan's aids, the successful new European Union was the star act in the quarter century following the end of World War 11. France, Germany and Belgium-NetherlandsTribune Media Services - 766 words
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Article, Illustration1466 2005-07-26 21 LEON HADAR - Despite their growing economic and strategic ties, the US should not put all its eggs in India's basket and alienate China LEON HADAR Washington Correspondent ONE of the first stories I covered as the Business Times correspondent in Washington in the early 1990sAFP - 1,466 words
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Article, Illustration636 2005-07-26 21 YOGI AGGARWAL - YOGI AGGARWAL THE Indian prime minister Manmohan Singh's visit to Washington and the warm reception he received mark a new high in relations between the US and India. For several decades these have been marked by a distrust owing to India's supposed closeness to the Soviet636 words
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799 2005-07-26 21 David Choo - LETTERS TO THE EDITOR David Choo Managing Director Promiseland Independent Pte Ltd I REFER to the article "Is your financial adviser really independent?" (BT, 20 ly)The writer has written on an important subject of great public interest. Unfortunately, he has not given an accurate description of799 words
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127 2005-07-26 21 Leong Sze Hian Singapore - Leong Sze Hian Singapore I REFER to the report, "90% financing costs 40% more in first 3 years: DBS" (BT, July 21). Further to my letter, "Review policy on cap of CPF funds usage" (BT, July 21), and with banks raising the127 words
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139 2005-07-26 21 Yeo Whee Kiak Singapore - Yeo Whee Kiak Singapore WHEN Chemical Industries (Cheml) announced its plan to build Lion Plaza in London, there were concerns raised on the financial risk of the project. However, Cheml was bullish, and wrote to Business Times on 13 Sep 2001 projecting that139 words
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Article10049 2005-07-26 22 SGX MAIWBOARP 52-Wk TH Lost Vol Day Loot Quote GrDw Mr GrtW Not MCap *8* Codo Co id my Solo W- C000) Low ioyor So4or Cw Ht Smt 10 3 5716 1st Software 5c 3.5 unch 350 4 3.5 3.5 4 34.5 11 3148 8Telecom US2c 11.5 unch10,049 words
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Article3306 2005-07-26 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In tool car in M m uss <ty yt dy yt dy %vr JulU Mg ttjjg Chang* Owngn China* Chanp* Chnnpn World IndwPwfcniiwy 887.1 (U> 53 -0.1 21 00 OS t EAFE Preliminary BCjg OJB 9.1 -Q2 04 -0,1 -OJ Europe Piefcmimtv 11793,306 words
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Page 24 Advertisements
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Advertisement1377 2005-07-26 24 ■Si H#| ii f IWBPSsPPBWBpKswP^^wIPiIBIIg -i ■<'■*■ WmtUKKm^^*9HKPSHISI /Q\ NYK GROUP SOUTH ASIA PTE LTD v_- L\ UVIT HM r|> «f TEL:6295 0123 XW JK JBLxjmk C&RS? M 3 11 LINE Fax: 6292 2856 (Regional sales) 6239 7109 (OPS)/6299 5785 (Documentation) NIPPON YUSEN KAISHA TOKYO KASHA. UD. (C/RNO' **********06) q1,377 words
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Advertisement767 2005-07-26 24 Iwiwuu mm wmri" VPSa/VOT I UWptT) I HBGWW W6 MCH IP I 8N I JKT SIUITSVOTUtt IS/05 15 I U 22/07 25/07 21/07 31/07 02/01 SIUITSVBITU«Ift/Q5 15 05/01 11/01 14/01 16/08 ISItAnSVEWIWt 17/05 I 15 I 3.2 1«/ M 21/01 25/01 2VM 30/00 vcsa/vor I MWfffT) I HBCwnwj ia "In767 words
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Page 25 Advertisements
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Advertisement1437 2005-07-26 25 www.lioniiHirßsud.com m AIISI SjjVjg (EXPOUT) Jtt mem mgam srowfT wHioum MMB smgwhi msum stwkt mwmm mum ummmiots «/d; m/m m/M ivw n/w wumum n/m tvw am ivw ivw cscnuMaoops os/w 15/ m i//w w/w mw oaamawMS n/w tyw iyw \im n/m StOMOMS 17/01 n/M 24/ M 17/ M 30/ M1,437 words
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Advertisement1033 2005-07-26 25 GOIDaTIADt ilfiJL Jk£L 27/7 »/7 rBTHIHDGt MSA 31/7 CAfE SANTIAGO 003n 2/1 3/> 5/1 NfWPYMAMK W2A 4/> 6/8 GOLDEN GATE Slln %/t 10/1 12A rfITHHIDGf 11/1 13fl *VSI (Jng boiti Nortli I West port vtssa voy ncs sw hkg sha iao hsk sBP jw NOtASU EVBtEST 4511 31/7 1/» 9/11,033 words
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Advertisement901 2005-07-26 25 S)®!S WEEKLY EXPRESS SAIUNG SCHEDULE I ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS I VKSE I VOT ISM I PJUANGI COIOHBOI IL SHFVA j COIOMO I tAY >KIPGt lOOIOwlllJUtl 12 JUI IKMI 18 JUI 121 JUL 1 j" j j I also Fa to con* tunoom on* coiomoi901 words
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THE BUSINESS TIMES SHIPPING TIMES
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Page 26 Advertisements
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Advertisement742 2005-07-26 26 luAl WALLENIUS WILHELMSEN website: http://www.2wglobal.com VESSEL IK MAO HOU* MIA SAV OAI Otf NYC »W MOO TAMPERE AFSI9 I 4001 MS I 6.30 M I 26/07 20/00 29/00 02/09 07/09 05/09 ALYPNA AJSO6 601 MS S.3M I 05/01 15/09 H/09 19/09 21/09 TAMESIS AFS2O 1 3201bH 6.4 M 00/00 30/01742 words
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Advertisement506 2005-07-26 26 vissa voy sm pcu vnsa vor sm jut cy 2301 OlSff 21/07 w7ot~ pac mm* »OI ~23/0 7 26/07 um a/fiz az®z_ 2i2 PACOAMDA 1524H 30/07 30/07 PACOWTAM 9309 30/07 02/08 w2wi 4ii3E mi 31/Q7 JKMm 1125N Uifiz 01Zfil_ BMIMia |H I PACBANDA IS26N 02/01 (7/00 ißw XVI an Bo506 words
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Advertisement431 2005-07-26 26 i BSA x. MYANMA m FIVE STAR LINE (Myaaarar National Line) Loading for Yang on VESSEL VOY SIN PKI PEN PGU PAGAN 348W SIS PAGAN 349W SID IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****358 PIN: 04-*****15 MKKKL ACCEPTING conventional cgo VESSEL VOY HKG SIN PGU PKI KUC PRINCESS 75 SU>431 words
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PROPERTY
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Article, Illustration541 2005-07-26 28 ALEXANDRA HO - Average rates rise 16.5% but local hoteliers say Singapore tariffs are still under-priced By ALEXANDRA HO ALTHOUGH occupancy and revenue per available room (RevPAR) at Singapore's five-star hotels improved in the first six months of this year, they still lag those in Bangkok, Hong541 words
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682 2005-07-26 28 ALEXANDRA HO - By ALEXANDRA HO BEFORE you get all excited about the recent policy changes for property and run out to buy that dream condominium you've been eyeing, you should take some time to consider this if you opt to borrow 90 per cent of your682 words
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312 2005-07-26 28 Reuters [BEIJING] China's property outlook index, a barometer of price and investment trends in the sector, fell in June to what a government official said was its lowest level in about four years. The index, put out by the National Bureau of Statistics yesterday, wasReuters - 312 words
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257 2005-07-26 28 AFTER two failed attempts, Fernhill Grove, off Stevens Road, is again trying for collective sale. The owners hope to get $75-78 million for the site, or about $636 per sq ft per plot ratio, including a development charge of about $8.8 million. For257 words
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191 2005-07-26 28 FRASER Serviced Residences is the first serviced residence to achieve the "Singapore Service Class" award for service excellence. Given by Spring Singapore, the coveted award is reportedly the highest for service quality in Singapore. So far, 51 organisations have received the award. "We are ecstatic191 words
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Page 28 Advertisements
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Advertisement179 2005-07-26 28 AMBER ROAD DEVELOPMENT SITE FOR SALE BY PRIVATE TREATY Prime East Coast Amber Road Contact: Investment Properties Jeremy Lake/Gatven Tan Tel: 6224 8181 6 Battery Road #32-01 Singapore *****9 CB RICHARD ELLIS lEE Debenham M Tie Leung I I Mitan IT u I-Prime Freehold ffluiiiilc Industrial Site S 5-j"—™ Site179 words
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Advertisement59 2005-07-26 28 Grade A office building in Raffles r Place I Winner of Prix d'Excellence award, V'Tfl the Oscars of the estate industry 12,196 sq.ft. on high floor with view Dm A onf Sal I UUw||Ufl| Ideal for financial institutions, -P major professional services I|| lAIO r companies and MNCs IvV V59 words
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