The Business Times, 2 January 2006

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Total Pages: 23
1 24 The Business Times
  • 16 1 THE BUSINESS TIMES SINGAPORE 85 cents online at 1 .com.sg MICA (P) 089/03/2005 Monday January 2,2006
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  • 671 1  -  Economists believe uncertainties like high oil prices and bird flu may come to the fore in 2006 By ANNA TEO [SINGAPORE] The economy has again outperformed even the most bullish forecasts and could well cruise along above its trend path in 2006 if the
    671 words
  • 389 1  -  By LARRY WEE [SINGAPORE] The Singapore dollar is set to make more advances versus a weakening US dollar over the course of 2006, and currency strategists believe the latter may well finish 2006 at levels closer to 551.60, notwithstanding the losses
    389 words
  • 134 1 MARKETS Week Chge STI J347.34 +19.05 KLSE COMP 899.79 +7.66 NIKKEI 225 *****.43 ....+170.06 HANG SENG *****.43 -307.15 SET INDEX 713.73 +14.78 JAKARTA COMP ...1162.64 .....-...+4.30 MANILA COMP ....2096.04..—-15.42 TAIPEI TAIEX 6548.34. +35.71 SEOUL COMP 1379.37 +19.84 SHENZHEN B 195.61 +3.32 AUSTAILORD 4708.80 ......+38.00 DOW JONES .*.....*****.50 -165.77
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  • Page 1 Advertisements
    • 68 1 fT7j)l YOUNG INVESTORS' \M w ft rniii in rwlillm B How to go about investing in PG y What are the ley global trends that CEOs amtooklng out for this year that might affect their &nipSßies? 8 BT ONUNE BT print subscribers get free access to the Business Times Online.
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    • 48 1 v I■= JAPAN BANKS BOJ to tighten monitoring of banks' property loans K514 BItIT Top hondios of the world's major IT companies look into the crystal baH Teko industry: Three of the most interesting areas to watdi out for r Creative's latest offering makes a lot of Zense
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    • 38 1 COMPANIES CL Reshaping Wfee Cho "few's 1 > corporate holdings ST INDEX Up against all odds PG 12,13 More reports Higher interest rates loom for M'sia pg 3 New ministers' reform agenda vital for Indon growth PG3 fl fl
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  • TOP STORIES
    • 1866 2 [SINGAPORE] Late last month, Larry Wee invited a panel of dedicated Singapore dollar-watchers to forecast how the Singapore dollar and local interest rates will perform'in 2006. Participants included Dave Carbon, head of economic and currency research, DBS Bank; Joseph Tan, regional economist,
      BLOOMBERG; Source: OBS; Source: Bloomberg  -  1,866 words
    • 570 2 tCWWmiC^OSpeCtSW Malaysia, Indonesia' OUR correspondents file on the region's economic prospects in the coming year: Expect Malaysia to progressively increase interest rates this year and its growth to remain flatfish at 5-5.5 per cent. And economics could play a greater role in shaping Malaysian politics, says S Jayasankaran
      570 words
    • 206 2  -  By ARTHUR SIM [SINGAPORE] Jalan Besar Town is getting a $517 million upgrade. The money, to be spent over the next five years, will go towards projects like the Main Upgrading Programme (MUP), Interim Upgrading Programme (lUP) and Selective En-bloc Redevelopment (SERS). Announcing this
      206 words
    • 1172 3  -  MALAYSIAN ECONOMY Economic growth expected to hover around 5-5.5% this year By S JAYASANKARAN in Kuala Lumpur EXPECT Malaysia to progressively increase interest rates in the new year and its growth to remain flattish, at 5-5.5 per cent. And economics could play a greater
      AFP  -  1,172 words
    • 950 3  -  INDONESIAN ECONOMY By SHOEB KAGDA in Jakarta INDONESIA, which began 2005 with a bang, however, closed the year on an uncertain note. Despite President Susilo Bambang Yudhoyono's efforts to revive the economy via an ambitious infrastructure development plan, the country is at another
      REUTERS PHOTOS  -  950 words
  • Page 2 Advertisements
    • 69 2 1 Hosting is Our Business When you host your mission-cntic.il online business with Webvisions, you are assured of reliability, round-the-clock service and true 24/7 technical suppoi r. u WHY WEBVISIONS? > bieadquartt-rs: Webvisions Pt< I tci J 7S Sc KM > Stv.ipL" iff T<-lc p'uvir- 6 r t)7/' i 9
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  • Page 3 Advertisements
    • 140 3 Diners Club Card To appfa call 6416 0980 BVH A World of Exclusive Privileges Treats Diners www.Jmers.com.sg International' u/icr > c .> s f*•' r 7 r v rr-r' IriHG DIRECTIONS Place your AGM and EGM notices in our newspapers. Call 1800 289 8822 or email noticesfsphxonug. /taint* Topps Lounge
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  • COMPANY NEWS
    • 692 4  -  NEWS ANALYSIS Investors will keep watching him due to his corporate moves in 2005, says LESLIE YEE LESLIE YEE TEMASEK Holdings may be the Singapore party capturing the headlines when it comes to big investments in Asia and beyond, but domestically, United Overseas
      692 words
    • COMPANY BRIEFS
      • 107 4 THE takeover of Singapore-listed Del Monte Pacific by NutriAsia has been formalised. NutriAsia said on Saturday that a condition of the takeover requiring it to hold more than 50 per cent of Del Monte shares has been met. NutriAsia now controls 50.72 per cent
        107 words
      • 117 4 ACMA Ltd is undertaking an internal restructuring-cum-streamlining exercise which will include transferring 75 per cent of Acma Engineers Pte Ltd to another company in the ACMA Group. Ten per cent of Acma Engineers will be sold to its managing director Say Kin Heng for a cash
        117 words
    • 331 4  -  By ARTHUR SIM SESDAQ-LISTED mechanical and electrical engineering company MAE Engineering is branching out into Malaysia's emerging biofuels industry. MAE Engineering announced Saturday it had entered into a preliminary and conditional agreement With Eligro Sdn Bhd to acquire a substantial 38 per cent
      331 words
    • 790 4  -  HOCK LOCK SIEW By AMIT ROY CHOUDHURY THE Economic Development Board's recent comment that the hard disk drive (HDD) sector here remains robust and that its future continues to be bright, must have brought cheer to some very worried people in the industry.
      AP  -  790 words
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  • SINGAPORE MARKETS
    • 1204 5  -  TEH HOOI LING Senior Correspondent SO 2005 was here and is gone. Here's a recap of how the market has done in the year just passed. The Straits Times Index gained just under 14 per cent while the UOB Sesdaq was flat However, of
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    • 1065 5  -  INSIDE MARKETS 2,633 trades valued at $1.87 billion were recorded, with purchases outnumbering sales at 2,071 to 562, reports ROBERT HALILI ROBERT HALILI DIRECTORS and substantial shareholders of Singapore listed companies were active last year with 357 firms recording 2,633 trades worth $1.87 billion.
      FILE PHOTO  -  1,065 words
    • 516 6  -  STOCKS LESLIE YEE Senior Correspondent 2005 was a humbling year for the bears, as equity markets globally overcame wellfounded concerns over rising interest rates, surging oil prices, slowing consumer spending and economic expansion to end near multi-year, highs. Asian markets, in particular,
      516 words
    • 624 6 CURRENCIES AFP [HONG KONG] Asian currencies remained steady against the US dollar last week in light trading ahead of the New Year holiday. Japanese yen: The yen moved narrowly against the dollar in the holi-day-shortened week ahead of the New Year break,
      AFP  -  624 words
    • 1659 6 Consensus No.of Forecast Mean Frfs recommendation esti- EPS PE target price Company name This wfc Last mth mates (cents) (ratio) price Allgreen Properties 2.10 2.00 10 5.80 22.41 1.43 1.30 Allied Technologies 3.00 3.00 2 0.35 31.43 0.17 0.11 Ascendas REIT 2.29 2.43 14 11.21 17.31 2.30 1.95
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    • 351 6 HyiMI b Mi ray Payasnt Ei MMi Pay »hm>win»1tfr) f 1j HO* IMt H'Ht Nmweef**Px ><k I O.SO 200k 3-Ow lHw Ammtug20c 1 ROO itttw 23-tta m PoplarKdgi 10c OSO 03 ur otan laim Mlrn«t(« g HP Wte fete IS-te fUfflnEdu2.Sc fs 100 DM® 1M® 2*'«j AMBrewan* f
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    • 434 6 COMMODITIES AFP [LONDON] Copper prices struck a historic record last week, 'despite shortened trading sandwiched between the Christmas and New Year holidays, while oil prices won back ground. Many commodities markets closed early last Friday ahead of the festive weekend. The Commodities Research
      AFP  -  434 words


  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 629 7  -  How does one go about investing in property? OH BOON PING finds out OH BOON PING YOU'VE probably heard of property speculation and stories of the instant riches it has brought to some people. But what exactly is property speculation? And is it
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    • 670 7  -  CAMPUS LIFE The project's budding filmmakers tell UMA SHANKARI about what they learnt on the job UMA SHANKARI IMAGINE spending three weefcs in Laos as part of your school work. That's exactly what four students from Nanyang Technological University's School of Communication and Information did in
      670 words
    • 204 7 FANCY becoming the next Warren BufFett or George Soros? Or even the famous Robert Kiyosaki? Then read on. The Young Investors' Forum, part of the BT-Citibank Tertiary Outreach Programme, isn't another dry page out of your financial textbook. To complement our editorialcontent, we have a
      204 words
  • Page 7 Advertisements
    • 46 7 ciTibank The Business Times-Citibank Young Investors' Forum is published every Monday in The Business Times. It aims to raise the financial awareness of university and polytechnic students and cultivate a better understanding of business issues. The series is part of BT and Citibank's tertiary outreach programme.
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  • VIEWS FROM THE TOP
    • 4477 8 THIS WEEK'S TOPIC Barring the unexpected, what key global trends will you be looking out for in 2006 that might impact your company positively or negatively? DESPITE the slowing of the US economy and rising oil prices, the outlook in 2006 is not all gloomy, as a
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  • Page 8 Advertisements
    • 66 8 BTCEOse-Club Members of the BT CEOs e-Gub are Singapore's top corporate leaders whom BT editors would like to interact with in an atmosphere of informality and trust. This 'dub'is a virtual one, with interaction mainly via e-mail. Each week, we will invite commentrfrom these top executives on various economic and
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  • MALAYSIA/INDONESIA
    • 397 10 MPI to rebound to 6.5% in 2006 from 4.3%, forecasts economist [KUALA LUMPUR] The much-delayed recovery in the manufacturing sector' last year will provide a boost to the strength of the Malaysian economy this year,' Malaysia's Business Times last Friday quoted an economist as
      397 words
    • 241 10 AFP [KUALA LUMPUR] Malaysia will soon announce measures to encourage private sector investment to shore up the country's economy, Prime Minister Abdullah Badawi said in his New Year message. "God willing, I should be able to announce the measures to be taken to
      AFP  -  241 words
    • 187 10 Bloomberg [JAKARTA] Bank Indonesia, the country's central bank, said it may ease rules that sought to tighten badloan classification by commercial lenders. Changes will be announced on Jan 13, Governor Burhanuddin Abdullah told reporters in Jakarta on Friday. Bank Indonesia requires banks to classify as
      Bloomberg  -  187 words
    • 3176 10 Transaction date: Dec 30 For a full listing of the closing prices, log on to BT Online at http://business-times.asial.com.sg after 11.30pm every trading day HONG KONG vi HQ W- HOP Aeon Credit 6.05 unch 10 Aeon Stores .7.90 0.20 10 Angang New Steel H 4.18 unch 6328 Anhui
      3,176 words
    • 597 10  -  MALAYSIA INSIGHT They do little or nothing for taxpayer welfare and open M'sians to derision S JAYASANKARAN KL Correspondent HERE we go again! A Malaysian plan to send a 35man team to drape Egypt's Great Pyramid of Giza with the flags of the world's
      FILE PHOTO  -  597 words
    • 506 10 [KUALA LUMPUR) Mobile phone users may be able to switch telecommunications companies (telcos) without having to change their numbers by. 2t)07, reports Malaysia's Busines&Times. The proposed implementation of mobile number portability (MNP) by the Malaysian Communications and Multimedia Commission (MCMC) is seen as
      506 words

  • GREATER CHINA/INDIA
    • 436 11 Biometric identification for investors, easing of disclosure norms Bloomberg [MUMBAI] India will offer companies selling shares the option of having themselves graded to strengthen corporate governance, attract more investors to the stock markets and raise the level of regulation in the country. India also
      Bloomberg  -  436 words
    • 629 11 Reuters [NEW DELHI] A suspected militant raid on one of India's top science universities has confirmed fears that the country's booming information technology sector could be a new target for terror groups, officials and analysts said. A professor was
      Reuters; REUTERS  -  629 words
    • 256 11 Reuters [PORT LOUIS, Mauritius] India will offer overseas citizenship to millions of people of Indian origin, giving them opportunities to own land and property and invest in financial markets, an Indian diplomat said last Friday. India's constitution does not provide for dual nationality, but
      Reuters  -  256 words
    • 446 11 Industrial waste contaminating drinking water AFP [BEIJING] Industrial pollution, unscientific waste disposal and ovep-exploitation of underground resources have made China's drinking water among the most unsafe in the world, environmental experts say. The country's water woes were thrown into the spotlight last
      AFP  -  446 words
    • 450 11 AP [BEIJING] China's President Hu Jintao vowed that his country would continue to open up and reform in 2006, pursuing a goal of peaceful development as it play* a bigger role on the world stage. In his annual year-end speech, Mr
      AP  -  450 words
    • 363 11 Bloomberg {NEW YORK] President George W Bush rejected a request by US manufacturers and workers to impose quotas on US$154 million of steel pipes from China, saying new limits on imports would harm the economy by raising prices for consumers.
      Bloomberg  -  363 words
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  • STI
    • 1599 12/13  -  by reh Hooi Ling IT was a year that defied the odds. At the end of 2004, most analysts had a generally bearish or at best neutral view on the Singapore stock market for 2005. A slowing global economy, rising interest rates, and surging oil prices
      Photos: FILE PHOTOS/AFP Chart: BLOOMBERG Artwork: JACQUELINE PHUA  -  1,599 words

  • ASIA-PACIFIC/WORLD
    • 789 14  -  WALL STREET INSIGHT Dow ends 2005 with a whimper on fears of economic slowdown and oil price hikes By ANDREW MARKS in New York US stocks ended 2005 with a whimper rather than the hoped for bang in the form of a
      AP  -  789 words
    • 435 14 AFP [PALM BEACH] Tiger Woods, who celebrated his 30th birthday last Friday, has agreed to buy a 10-acre oceanfront estate on Jupiter Island, Florida, for US$4O million, the Palm Beach Post reported. Woods, a 10-time major golf champion, led all US athletes
      AFP; REUTERS  -  435 words
    • 352 14 NYT [NEW YORK] World stock markets ended a generally up year on a down note on Friday, leaving the Dow Jones industrial average in the US with its first annual decline since 2002. The Dow Jones industrial average ended the last day of 2005
      NYT  -  352 words
    • 627 14  -  Move reflects the bank's fears about a new asset bubble By ANTHONY ROWLEY in Tokyo THE Bank of Japan (BOJ) will tighten its monitoring of bank loans for property development this year, according to Japanese media reports at the weekend. The move
      627 words
    • 474 14  -  CUPPER YACHT RACE: COMING HOME By VINCE WEE in Fremantle IS THE doctor in? That was the question uppermost on the mind of every crew member as the yachts took off from Fremantle yesterday. This is because the daytime sea breeze
      474 words
    • 314 14 Bank of Tokyo-Mitsubishi UFJ starts business on Wednesday AP [TOKYO] The Bank of Tokyo-Mitsubishi UFJ made its belated debut yesterday, completing the merger of Mitsubishi Tokyo Financial Group Inc and UFJ Holdings Inc to create the world's largest financial group by assets. The financial giants merged
      AP  -  314 words

  • AVIATION/SHIPPING
    • 668 15 US AVIATION Traditional airlines in comeback, some to return to profitability this year Reuters [NEW YORK] After the beleaguered US airline industry hit a new low last September with two top carriers filing for bankruptcy, the sector has done what few thought it
      Reuters  -  668 words
    • 594 15 AFP [SINGAPORE] Brazilian aircraft maker Embraer sees a wide-open runway for its specialist jets in Asia. The region currently provides less than 2 per cent of Embraer's US$lO.4 billion worth of client orders, but the firm is confident its share will rise as the
      AFP  -  594 words
    • 718 15  -  By PETER STALBERG THE widespread adoption of new collision avoidance technology has had no discernable effect on the high incidence of collisions at sea. according to a new study. Following the study of major collisions, mutual marine insurer The Swedish Club now warns that
      718 words
    • 580 15 CITY RJWtT ETA HJ6WT tTP ]f| to m ~HTE1 SBfci L "jjj~jj| ,sb «i«ii »>— ag is arc gj» Sll feodum! MZ900 1140 MZ901 1245 J f^ B Cairns g Cap* Town SQ478 0215 Ml %S 2! £5 Chiang Mai TRIM 2330 TR128 1645 Chicago UA895
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    • 290 15 SGX '000 Dim St w- Vol CH Offshore .0.36 -0.01 705 Oman Hup -0.40 unch 3177 Cosco Corporation 2 16 -0.01 5796 CWT Distribution .043 0.02 278 Ezra Hktas 1.46 -0.01 430 Freight Links 0 06 unch 15 Grand Banks Yacht...- .0.88 unch 0 JayaHoMngs 1-24 -0.01 K1
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  • Page 15 Miscellaneous
    • 217 15 CRYPTIC CROSSWORD hand is taken ?rom tissue (8^ 2 Four different points thrown 14.0ne investigating pioneer? YESTERDAY'S SOLUTION into TV bulletin (8) (8) Across: 1 Alchemists, 9 Fido, 10 3 Create by slow degrees and 15 Verify total using computer Reconsider, 11 De-iced, 12 Current, do the trick at university
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  • 11277 16 STRAITS TIMES INDEX STOCKS Stock name Wt Close Chang* Stock name Wt Oom Change Stockname Wt On* Change Allgreen 50c 0.31 1.300 -0.010 Haw Par Corp 0.41 S.150 SPH20c 435 4300 -0060 Ascendasreit 0.96 1350 +0.020 Hyflu*5c 0.41 2.750 +0.030 STEngglOc 1J7 2360 +Q.050 BIL Intl US20c 0.55
    11,277 words

  • 6234 17 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES ta tool on last *U» *«ty yt *y» Dec 30 lode* Ot»nB» Om» Ch»og» Chna» Chang. Chang* WofWIndenPretinnnaiY 969.4 -05 13 7 •OB 96 -0.7 7.5 t EAF£ Preiminary 973.2 00 760 -1.1 12.8 -OS W Europe IVhiiiiary IMI 4H -1-1 IS -H
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  • Page 18 Advertisements
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  • Page 19 Advertisements
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  • Page 20 Advertisements
    • 892 20 mNordana (Asia) Pie tfd 70SUrtwWty, #21-03 Mb hw Www ShfywOZflU NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATS AIE AlttVAi PATES VESSEL VOT I SI win fiwlli Com Med Qrirt—shfarf PerirGedoeg Island Express lE4OI 06 Jon UJan 25 ion 21 Jon 03 Nh blond Express 1E602
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    • 692 20 i BSA a. MYANMA nHH five star line (Myanmar National Line) Loading for Yang on vessel voy sin mi km raj PAGAN 348W SU> PAGAN J49W SU) IN MAUTSIA: 80USTEAD SHIPPING AGINCIES RIR/PKU 03-*****3 M PIN: 04-2*3381 S ACCEPTING CONVENTIONAL C6O VESSB VDT HKG SM PKL 801 IN lIU SM
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 8417 21 This ETA ETA Adverther Vessel Voyage Telephone SIN Desfn Name Name Number Number nam ma WBmm To ABIDJAN (ABJ) 2003 Cot* D'lvoire 09/01 07/02 China Shpg BUNGA MAS 12 033W *****898 12/01 21/02 China Shpg CSCL FELIXSTOWE SX203W *****898 12X11 21/02 China Shpg PERTH
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  • BizIT
    • 885 23  -  <we say> Three areas to watch true number portability, interconnected numbers, and lower Internet access prices ROLAND LIM Reporter Following an exciting year in the telco industry, 2006 looks all set to see the effects of the many telco-related policy decisions made last year
      885 words
    • 830 23  -  <cool stuff> Creative's latest offering makes a lot of Zense By LEE KIM SIANG TO CALL Creative's new baby, the Zen Vision: M, an MP3 player would be akin to calling a Ferrari a mere sports car. It simply doesn't do it justice. Sure, it can play
      830 words
    • 876 23  -  <you say> By ASHLEY WEARNE Business executives are often asked to measure the health of their business, using metrics like revenue, expenses, debt and profit. But what about security? How do we measure the health of a corporate network? We can ask questions like,
      876 words
    • <what's up>
      • 89 23  -  Compiled by LEE KIM SIANG STREAMING video and audio will likely become the largest sources of Internet traffic, as the data rich multimedia applications become increasingly popular across Europe, according to new research. Streaming video and audio currently represent 14 per cent of
        89 words
      • 104 23 CBL Data Recovery Technologies has announced the extension of its data recovery services to the Philippines through ATP Peripherals Phils Inc. a leading wholesaler and distributor of IT related products. This will be the first time data recovery is offered as aftermarket service support in
        104 words
      • 109 23 LG'S new P7200 mobile phone looks set to wow consumers with its swivel screen, two-megapixel camera and MP3 capabilities. The 262k colour, two-inch TFT screen is capable of rotating up to 180 degrees which allows users to take pictures at any desired angle. In addition
        109 words
      • 102 23 SHIRO Corporation, a leader in digital lifestyle products, has unveiled its latest MP3 player under the Direct series—the Shiro DA MP3 Digital that is compact in size but rich in features such as the integrated Address Book Content Manager. The Shiro DA also features
        102 words
      • 78 23 NEC Solutions Asia Pacific Pte Ltd has launched a first-of-its-kind RFID-enabled customer card. The NECare Customer Card will store relevant details of customers' purchases, warranty programmes and service records. The details are updated in its central database for easy and quick retrieval. NECare Customer Card also
        78 words
      • 95 23 ASUS Technology has launched its new hybrid series of notebooks the 12.1 -inch ultra portable USA Notebook Series, where all parts of the notebook, be it from the interior components to the exterior housing and paint, are totally compliant with RoHS regulations. Integrated with Bluetooth
        95 words
    • 1206 24  -  MAJOR TRENDS Tech giants upbeat about local companies adopting latest tech solutions, writes AMU ROY CHOUDHURY AMIT ROY CHOUDHURY SINGAPOREAN companies, which are already sophisticated users of information technology (IT), will graduate to the next level and adopt a number of cutting
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    • 290 24 MOST IT business leaders interviewed by BizlT reckon that while India and China will be the Asian countries to look out for in 2006, Singapore will remain an important destination for doing business in Asia-Pacific. Some feel it is an ideal springboard to reach
      290 words
    • 936 24 It aims to make super small living-room PCs that will become digital entertainment hubs AP INTEL, the world's biggest chip maker, is at last breaking away from its longstanding love affair with pure computing power to remake itself as a consumerfriendly brand that will
      AP; BLOOMBERG FILE PHOTO  -  936 words