The Business Times, 7 January 2006

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Total Pages: 22
1 22 The Business Times
  • 20 1 THE BUSINESS TIMES weekend SINGAPORE 85 cents MICA (P) 089/03/2005 January 7-8, 2006 online at http bus»f>ess tame>. cor- sg
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  • 753 1  -  Retailers' optimism rides high as Chinese New Year approaches By UMA SHANKARI [SINGAPORE] Shop, shop and never drop. Hot on the heels of the Christmas surge in retail sales comes Chinese New Year on Jan 29 and 30 causing retailers to rub
    ARTHUR LEE  -  753 words
  • 136 1 STI 2,420.74 (+16.99) ST INDEX FUTURES 2,425.00 (+17.00) siMsa 286.77 (+1.67) SIMSa FUTURES 286.90 (+0.40) MARKETS Friday Change KISECOMP 911.67 +5.01 NIKKEI 225 16,428.21 +2.84 HANG SENG 15,344.44 +73.31 SET INDEX 747.34 +6.06 JAKARTA COMP 1,222.25 +11.25 MANILA COMP 2,133.79 17.14 SEOUL COMP 1,412.78 +17.27 SHENZHEN B 213.64
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  • 517 1  -  By LARRY WEE [SINGAPORE] Currency markets all but ignored a report yesterday that China intends to diversify some of its foreign exchange reserves out of US dollars, with most traders and strategists suggesting that they expected to get much more upside gains from other
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  • 509 1  -  Analysts welcome move, stock closes 40c up for the day By LESLIE YEE [SINGAPORE] United Overseas Bank (UOB) said yesterday that it will set aside $600 million an estimated 2.6 per cent of its market capitalisation to buy back its own shares for
    509 words
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  • TOP STORIES
    • 530 2 Weighing Shanghai Turbo, first IPO of the year SHANGHAI Turbo Enterprises' initial public offer is Singapore's first this year and so is bound to generate some excitement. But while its narrow focus on steel vanes has earned impressive profits, it is also a source of vulnerability, says our
      530 words
    • 677 2  -  It's teaming up with Cisco to offer an initial 3,000 boxes to the public By CONRAD TAN [SINGAPOBE] No place to stash that diamond necklace your true love gave you for Christmas? How about in a safe deposit box, under 24-hour surveillance?
      677 words
    • 392 2 Source: The Globalise Sizing up global trade International trade is one of the most important features of the global economy, ft can dramatically increase a country's wealth, but also frequently leads to trade disputes. As the world struggles to come to terms in the current WTO trade talks, we
      Source: The Globalise; File  -  392 words
    • 968 2  -  SATURDAY SOAPBOX Too many are taking it out on the most vulnerable person in their home the foreign maid SIOW LI SEN Senior Correspondent A WOMAN director at a bank once told me that she felt grateful to her mother and maid for
      968 words
    • 522 2  -  Cost of suitability checks may have deterred some contenders By ARTHUR SIM [SINGAPORE] Some $400,000 paid to the Singapore Tourism Board (STB) by Publishing and Broadcasting (PBL) and Melco International Development to cover the cost of probity checks
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    • 27 2 MRnunJDHHMHHH BTprirt subscribers get free access to the Business Times Online. To activate your account log on to .com.sg. For more information, e-mafl btocsOsph.com.sg or call 6388-3838.
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  • RAFFLES CONVERSATION
    • 1811 3  -  Like the mountain it is named after, Swiss private bank Clariden aims to provide rock solid banking. WONG WEI KONG talks to its chairman Alex Hoffman WONG WEI KONG IF THERE is such a thing as a private bank to emerging markets, Clariden would fit the
      ARTHUR LEE  -  1,811 words
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    • 216 3 The Raffles Conversation is brought to you through a special arrangement with Raffles m International Hotels and Resorts. The Traveller's IB Palm in the Raffles International logo is an apt I Jim I If symbol. Not only has water stored at the base of -A. I 1 this palm provided
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  • COMPANY NEWS
    • 763 4  -  CORPORATE ANALYSIS Its narrow focus on steel vanes has earned impressive profits but is also a source of vulnerability, writes CONRAD TAN CONRAD TAN SHANGHAI Turbo Enterprises, a China-based precision engineering group specialising in the manufacture of steel vanes for turbines used in power generators, is
      763 words
    • 7015 4 UNIT TRUSTS FUNDS ABN Amro Asset Mgt (S'pore) Star Europe Eqty!" 0.893/ Star Europe Bond 1.218/ Europe Bal 1168/ Star Asian Tiger Eqty 1 173/ Star Asia Bond 1.324/ Star Asia Balanced 1 095/ Stat Global Technology Fundi** 0.216/ Mutti St Fd 1061/ Star Asia BondtUSD) 0 804/ Gib Mufti
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    • 370 5  -  Holding of UOL shares, which has fallen to 11.7%, will be trimmed further By LESLIE YEE UNITED Overseas Bank said yesterday that the bank and its affiliates, which now own 11.72 per cent of United Overseas Land (UOL), will divest themselves
      370 words
    • 169 5  -  By LEE KIM SIANG METAX Engineering Corporation, an environmental engineering firm, is eyeing a Sesdaq listing. The Singapore-based firm yesterday lodged a preliminary prospectus with the Monetary Authority of Singapore (MAS). Westcomb Capital Pte Ltd is the issue manager of the planned initial public offering
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    • 300 5  -  By AMIT ROY CHOUDHURY MAINBOARD-listed United Test and Assembly Center (Utac) has received certification which will help it to pursue business in the automotive sector IC (integrated circuit) market which is estimated to be worth more than US$l5 billion. Utac, which provides semiconductor
      FILE PHOTO  -  300 words
    • 348 5  -  By UMA SHANKARI KEPPEL Corporation's rig building arm Keppel FELS is set to clinch a contract from US oilfield driller Diamond Offshore. According to a report obtained by BT yesterday, Keppel FELS is expected to win the contract to upgrade a semi-submersible
      348 words
    • 193 5  -  By MATTHEW PHAN HONG Leong Asia (HLA) through wholly owned Hong Leong China (HLC) is selling its metal container and closure business divisions and its stakes in two packaging companies for $50.69.mi11i0n. The assets to be sold under a deal signed with
      193 words
    • 248 5  -  By WONG WEI KONG FOUR executives of govern-ment-linked information technology (IT) firm Crimson Logic will be tried in March on corruption charges. The hearing dates set yesterday at a pre-trial conference (PTC) are March--13, 21-24 and 27-31. The next
      248 words
    • COMPANY BRIEFS
      • 98 5 ORIENTAL Food (Holdings) Ltd yesterday warned that its net profit for the financial year ended Dec 31,2005, will be weaker than the previous year when it generated 11.59 million yuan. This is due to higher administrative costs incurred as an administrative office was set
        98 words
      • 119 5 UNITED Overseas Bank Ltd (UOB) said its 70 per cent-owned subsidiary, UOB Global Capital LLC (UOBGC), has formed a 51:49 per cent investment management company with Infrastructure Leasing Financial Services Limited (IL&FS) of Mumbai, India. UOBGC will take the majority stake in UOB
        119 words
    • 173 5 Bloomberg [JAKARTA! Indonesia's government plans to spend 12 trillion rupiah (552.03 billion) to buy PT Indosat shares from Singapore Technologies Telemedia or the public, aiming to increase its stake in the country's second-largest phone company. The government may sell debt or ask
      Bloomberg  -  173 words
    • 509 5  -  STOCKS R SIVANITHY Senior Correspondent TWELVE years ago in January 1994 a bull run in the local stock market was brought to a screeching halt when the US Federal Reserve surprised everyone and raised its shortterm rates. This year has seen the
      509 words
  • Page 4 Advertisements
    • 48 4 %ife^ ii'h» i Allianz Global Investors one of world's top five asset management groups' Allianz (lip v Xctctt?"' with more than USS1.45 trillion" of assets under management. Global investors Source; Watson Wyatt. As at 31 December 2004 1 Souice As al 30 liin<; ZOOS tonipdnv re>?n no *****/1697
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  • PERSONAL INVESTMENT
    • Article, Illustration
      1022 6  -  Compiled by UMA SHANKARI ST Engineering Jan 6 dose: $2.96 KIM ENG RESEARCH, Jan ST Engineering (STE) will be releasing < its FY2005 numbers on Monday. We 1 are expecting 10 per cent growth in 1 earnings to $402.9 million (EPS 13.8 r cents), on the back of
      Source: Bloomberg  -  1,022 words
    • 1024 6 For week beginning Jan 3 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Sahmtiai Ito* M« SMMKMOIOMC Tram JtmkoMrt M Bunt Mr Mar* Sto<fc Date Dkactar Cam *888 Sl» > (HI C888) Electrotech 5-Jan-06 Low Mock Peng 'Sell 20 0-57 417S9 11J05 ***** 13.70 Lale Teth S-J an-06 Ho Wing-On 'Buy
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    • 1074 6  -  SHOW ME THE MONEY The main weakness of investors is the tendency to shun a stock which lost money TEH HOOI LING Senior Correspondent O you believe in giving people or things a second H chance? Humans I are programmed I U
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  • BT INVESTMENT ROUNDTABLE
    • 2875 7 OVERVIEW CONTRARY to what most forecasters had expected at this time last year, the US dollar surprised most currency market participants in 2005 with double-digit gains versus currencies such as the euro and the yen, thanks in no small part to what seemed like an unrelenting
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  • SINGAPORE NEWS
    • 448 8  -  NTU don suggests developing niches in resource-based products By CHEN HUIFEN ASEAN should not compete head on with China and India in low-cost production and services, an academic said yesterday. Instead, it should, find a niche in resource development and re-source-based products. Tan
      LIANHE ZAOBAO  -  448 words
    • 285 8  -  By OH BOON PING SINGAPORE tops the regional destinations for conferences and exhibitions, thanks to its superior facilities, airline, attractions, and tourism board, according to a survey by the CEI Asia Pacific magazine. In the study, Singapore ranked first with 68 per cent of
      285 words
    • 372 8  - TV cop shoots for his next big project film dramedy By UMA SHANKARI HE'S best known for playing a cocky cop in the Channel 5 series Triple Nine in the late *****, but former MediaCorp actor Robin Leong has a new lease of life as the producer of the world's
      YEN MENG JIIN  -  372 words
    • 176 8 TTIE newly-formed National Council on Problem Gambling has announced two public education initiatives for 2006 an infoeducational TV series premiering today, and a $150,000 fund to set up voluntary and non-profit groups related to problem gambling. Chairwoman of the NCPG Public Education
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  • Page 8 Advertisements
    • 125 8 li U •< t "V i •i «->"■ t ft 7 'jf v* wi- i Unit »mr K ;'i- >V v *3u* r v ■»..< r\ W t '«*.<* ■g.'• -i- <• m §l— ■*41 'i i» vf j* j I II 1 I^EBUSMESSfIMES I 1 BKSttfltowwww I I 1
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  • SINGAPORE INTERNATIONAL
    • 2233 9  -  Its booming economy is good news for many S'pore-based firms which already have a foothold there, says CHUANG PECK MING CHUANG PECK MING POPULATION used to be viewed through the eyes of the 18th century English economist and clergyman Thomas Malthus, who believed it was a
      FILE PHOTO  -  2,233 words
    • 852 10  -  Singapore-based firms, involved in fields as diverse as banking, biotechnology and education, are steadily growing their operations in India. CHUANG PECK MING profiles four of them CHUANG PECK MING DBS Bank is the only Singapore bank today with a foothold in India, after OCBC
      BLOOMBERG  -  852 words
    • 464 10 INDIA is widely seen as the next big market after China, but it has hardly crossed anyone's mind that it will be as big as China. One exception is Steven Fang, group chief executive of CyGenics, a stem cell biotechnology company. "India, in terms
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    • 513 10 MODERN Montessori International (MMI), the British education group which has made Singapore its base in the Asia-Pacific region, wants to become a leading player in the business in this part of the world. And having a foothold in India is a natural step in MMl's
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    • 422 10 SINGAPORE-BASED RSP Architects Planners and Engineers is one of the biggest architectural firms in India, if not the biggest. And it hasn't taken this homegrown practice too long to make its presence felt in what promises to be the world's biggest market after
      422 words
    • 1478 11  -  LETTER FROM MUMBAI There are still many structural inefficiencies in India but the country's growth potential is undeniable, writes YAP SHIN CHIA YAP SHIN CHIA I REMEMBER the incredulous look on my parents' faces when I told them in April 2002 that I had decided
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    • 1571 12  -  India's surging economy is seen to have acquired its own momentum but key bottlenecks remain, reports CHUANG PECK MING CHUANG PECK MING WHEN the Indian economy gained 8 per cent in the July-September monsoon quarter from a year earlier, economists rushed back to their drawing boards
      AFP  -  1,571 words
    • 883 12  -  By AMITAVA GUHAROY MUCH has been said about the opportunities presented by India's rapidly growing economy with its vast domestic market. As advisers who have significant on-the-ground experience, we highlight the sectors of opportunity and how investors can optimise results in the Indian market. The Indian economy has
      AFP  -  883 words
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  • Page 11 Advertisements
    • 278 11 Ready for the Enterprise**^ I 1 I I Forum 06 rY global cndil6nQ6? 55^^ Internatipnal Enterprise Forum (IE Forum) is Asia's premier event oninternationalisation that brings together today's most respected thought leaders and entrepreneurs to shed light on the strategy of bringing local businesses to the world. Themed "The*Globalisation of
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  • GREATER CHINA/INDIA
    • 508 13 New policy will end state-owned Concor's monopoly in this sector [NEW DELHI] The Indian government yesterday took the wraps off a policy that will allow private companies in container transportation by rail, bringing to an end Container Corporation of India's (Concor) longheld
      508 words
    • 287 13 [MUMBAI] Tata Teleservices Ltd (TTSL), the CDMA services provider of the Tata group, is in talks with a clutch of investors to sell nearly 10 per cent stake, according to a report in the Business Standard. Although Tata executives declined
      287 words
    • BRIEFLY ASIA
      • 57 13 AFP [BEIJING] China intends to make the manufacturing of large commercial airplanes a top priority from 2010, the nation's defence industry announced yesterday. The Commission of Science, Technology and Industry for Defence said the aerospace industry will focus on the issue
        AFP  -  57 words
      • 91 13 Reuters [BEIJING] China's Everbright Bank has become the country's first lender to offer fixed rate mortgages, the latest innovation as the nation seeks to nurture its financial markets, state media and bank officials said yesterday. "The fixed mortgage rates will be set with reference to
        Reuters  -  91 words
      • 61 13 AFP [BEIJING] Yao Wenyuan, the last surviving member of the infamous "Gang of Four" that led China through 10 tortuous years of the 1966-1976 Cultural Revolution, has died, Xinhua reported yesterday. Yao died on Dec 23 of diabetes. He was 74. No
        AFP  -  61 words
      • 103 13 Bloomberg Closes di ietui u mtjii [JAKARTA] Indonesia's key index rose to a record, posting its biggest weekly jump in more than three months. Bank Mandiri paced gains on expectation the central bank will reduce the pace of its interest rate rises. Indosat
        Bloomberg  -  103 words
      • 77 13 Reuters [ZURICH! Indian generic drug maker Ranbaxy Laboratories has received tentative approval from the US Food and Drug Administration to produce a generic version of Novartis' Alzheimer's drug Exelon, the FDA said. Tentative approval means that Ranbaxy can start making a
        Reuters  -  77 words
    • 469 13 Forex rate changes won't ease imbalances, he says Reuters [SHANGHAI] China's yuan is unlikely to appreciate much this year, an influential government economist was reported yesterday as saying, suggesting little change from the steady but extremely slow rise seen since July's revaluation.
      Reuters  -  469 words
    • 63 13 [DHAKA] A Bangladeshi child showing off the elaborate design decorating her hand during a henna festival held to mark the Islamic festival of Eid-ul-Adha in Dhaka yesterday. Eid-ul-Adha. which is celebrated by Muslims worldwide as a commemoration of the Prophet Ibrahim's willingness to sacrifice his son
      AFP  -  63 words
    • 2341 13 VOL JwC W- C988) A 4 M Realty 1.46 unth 127 Abric 034 0.02 374 ACP Industries 336 unth 0 Advance Synergy 333 -0.01 85 Adveott 039 0.02 5 AEMutti 038 -0.01 203 AffinHldgi 158 unth 322 Ahmad Zaki Res 1.17 0.01 14 AKCorp 1.14 unth 2 Air
      2,341 words

  • MALAYSIA
    • 664 14  -  Penang lawmakers to discuss casino proposal before mid-2006 By S JAYASANKARAN in Kuala Lumpur THE Malaysian government is unlikely to allow a casino on the resort island of Penang, officials from Malaysia's dominant political party, the United Malays National Organisation (Umno) said
      RLE PHOTO  -  664 words
    • 7850 14 Transaction date: Jan 6 52-Wk Tel Lad Vol Day mtDwM Grtftr Mv CfVM Nat MCaa Wgti law Cod« Cowpwy Sala fOOB) M0i law fcnr* Sdhr Cw Ht 7.5 2 5716 1st Software 5c 2.5 2.5 3 10.1 22 6 3148 STelecom US2c 7.5 unch 1984 8 7.5 7.5
      7,850 words
    • 183 14 AFP [KUALA LUMPUR] Malaysian share prices closed 0.55 per cent higher yesterday on continued J>uying by institutional funds, which are accumulating Asian stocks in the hope that the credit tightening cycle in the US is coming to an end, dealers said. The Kuala Lumpur Composite Index
      AFP  -  183 words
    • 330 14 Bernama [KUALA LUMPUR] The Malaysian stock market will see more covered warrants (CWs) being issued by investment banks beginning in the first half of this year, according to Bursa Malaysia's chief executive officer Yusli Mohamed Yusoff. "You know, there are a few
      Bernama  -  330 words

  • INDONESIA
    • 386 15 Assure them of fair play by following rule of law, he says at media meeting Bloomberg [JAKARTA] Indonesia needs to ensure that it follows the rule of law and improve legal standards to attract overseas investment into South-east Asia's largest economy, US billionaire
      Bloomberg; BLOOMBERG FILE PHOTO  -  386 words
    • 147 15 AP [JAKARTA] Corruption by consular staff at Indonesian missions in Malaysia is "rampant" and staff implicated in the alleged crimes have been ordered to return home, Indonesia's foreign minister Hassan Wirajuda said yesterday. He said the corruption at missions in Kuala
      AP  -  147 words
    • 5563 15 Transaction Date: Jan 6 MOST ACTIVE STOCKS VOLUME VALUE UTACUS15C 92.776.000 DBSGrp 1 124.409.624 Food June 8c 37.539.000 UOB 90.568.650 MultiVis HK7c 31.972.000 UTACUS15c 74,597,175 UniFiber 10c 30.525.000 Kepoel Corp 50c 65,814,130 Trek 5c 27.517.000 SingTel 15c 33.753.097 DMXTechUS5c 22.670.000 Food June 8c 25,828,590 Sin Soon H 1c 19.722.000
      5,563 words

  • ASIA-PACIFIC/WORLD
    • 704 16 If history repeats itself, this year would be a terrible one for US markets IHT [NEW YORK] Call it the 99year cycle. If it continues, then this year may not be an enjoyable one for inves- tors. William Draves, coauthor of Nine Shift,
      IHT; REUTERS  -  704 words
    • 411 16  -  By ANTHONY ROWLEY in Tokyo CHINA and Japan have agreed to jointly develop oil and gas resources in disputed areas of the East China Sea, a Chinese Foreign Ministry official claimed yesterday. If true, this would appear to remove a
      411 words
    • 307 16 Reuters [LAS VEGAS] Seagate Technology, a leading maker of hard disk drives, will continue to eye acquisitions, company chief executive Bill Watkins said on Thursday. The comment came two weeks after Seagate set plans to buy rival Maxtor Corp for nearly US$l.9 billion. The company,
      Reuters  -  307 words
    • 375 16 LATEST US DATA Reuters [WASHINGTON] US employers added a smaller-than-expected 108,000 new jobs in December but that followed a much stronger wave of hiring than previously thought in November when rebuilding after hurricanes was getting under way, a government report yesterday shows. In its
      Reuters  -  375 words
    • 257 16 Reuters [NEW YORK] Forgetting computer passwords is an everyday source of f frustration, but a solution may literally be at hand in the form of computer chip implants. With a wave of his hand, Amal Graafstra, a 29-year-old entrepreneur based in Vancouver, Canada, opens his
      Reuters  -  257 words
    • Article, Illustration
      463 16 Round-the World Yacht Race Leg 4,Race 5, Day 6 Clipper Ventures y t _\f '"-i JV. r. imu i- t hl .,Tf n r i lnc ngni wbdos nave weu ana tnuy mflesrespectivefy. The positions are ttihtentoeiß) now, with SOiriflee gwiriiw Buro tm UNBipooi ana inigi New York are
      Clipper Ventures  -  463 words
  • Page 16 Advertisements
    • 1076 16 I, Lianhe Zaobao Prof Tan Kong Yam I on what Beijing can do for I China to be I 1: Y f j I asa'threat" I *»i3#WFT I wiKtrn I KM I IN THE MATTER OF THE COMPANIES ACT CAP 50 AND IN THE MATTER OF CAMMO REALTY (S) PTE
      1,076 words

  • MOTORING
    • 1699 17  -  SAMUEL EE previews some of the models that will be launched here in the next 12 months SAMUEL EE IT has only been seven days into the new year and already the signs are that it will be a lot more interesting than 2005
      1,699 words

  • GOLF
    • 974 18  -  Some 1,500 golfers here will make a mark tomorrow, proving that it's not just the pros who get recorded for posterity, writes JUSTINE MOSS JUSTINE MOSS A GOLF record of sorts is scheduled to take place in Singapore tomorrow, but Tiger Woods won't be losing any
      REUTERS; AFP; PINE VALLEY GOLF CLUB/FROM INTERNET  -  974 words
  • Page 18 Advertisements
    • 278 18 HH ammm mm wine&dine witJHLndBT IB dishes n poolside fin. Price per pot for six people: S2BB;^ght L m( W. S^lt'flffestive goodies #0i s I TeL 6869Z£88 10 people. $420; individual serving: t mmm 1 Lootidet the tofts of Chip Bee MBSrouMOh't be able to resist our invitation to sink
      278 words

  • WELLNESS
    • 1355 19  -  Among the new plastic surgery methods available to S'poreans are Happy Lift, an improvement over Aptos procedure, and Thermage, reports CHEAH UI-HOON CHEAH UI-HOON WITH the ever-improv-ing advances in cosmetic technology, what can image-sawy Singaporeans look forward to in 2006? New ways to rejuvenate
      FILE PHOTO  -  1,355 words
    • 823 19  -  A synthetically produced anti-oxidant, it is the next big thing in anti-ageing, says CHEAH UI-HOON CHEAH UI-HOON WE HAVE heard of the antioxidative effects of green tea, vitamins C and E, and co-enzyme QlO (Co Q10). Now, familiarise yourself with idebenone read as
      823 words
  • Page 19 Miscellaneous
    • 354 19 CRYPTIC CROSSWORD A/"DACC fail 7 (6) ACROSS 4 Flowers that every hotel en--1 Ned has worked in the coun- su j te should have! (3,3.4,5) try and gives help (5,1,4) 5 stories of knight and various 6 Restrain black dog to start oves (6) with (4) 7 lam a dunce
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  • SHOPPING
    • 804 20  -  No vacation is quite complete without good luggage. CORINNE KERK looks at a new range of products that lets you travel in style CORINNE KERK Collected your bonus yet? No doubt one of the key things you can do with your extra money is to travel—especially
      804 words
    • 294 20  -  Compiled by CORINNE KERK Affordable Hermes CAN'T afford a Hermes Birkin bag nor care to be put on a waiting list for it that's at least six months long? Then we say go for its other accessories, such as this gorgeous silver ring. Larger-than-life, yet
      294 words

  • DESIGN
    • 1299 21  -  BT survey shows architects are less than satisfied with the general architectural quality of homes in S'pore, says GEOFFREY EU GEOFFREY EU THE up-tempo home property market may have generated investor interest and economic momentum over the past year, but on the design front, there's still
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  • THE BUSINESS TIMES weekend
    • 2171 22  -  Where do chefs head for if they are feeling hungry? GEOFFREY EU asks culinary experts to name their favourite eating places GEOFFREY EU CHEFS know how to appreciate their own kind it's a mutual admiration society thing, you understand and that's why they invariably have
      FILE PHOTOS  -  2,171 words
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