The Business Times, 18 January 2006

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Total Pages: 40
1 40 The Business Times
  • 13 1 THE BUSINESS TIMES Wednesday, January 18,2006 SINGAPORE 85 ceßfr .com.sg MICA (P) 089/03/2005
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  • 773 1  -  Stricter regulations in response to calls for greater corporate governance driving rise: professionals By MICHELLE QUAH [SINGAPORE] Fees for audit work here could climb 10-20 per cent this year as accounting firms grapple with a deluge of new financial reporting standards (FRSs)
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  • 136 1 STI 2,376.96 (-24.24) ST INDEX FUTURES 2,379.00 (-24.00) SIMSCI 282.49 (-2.22) SIMSO FUTURES 282.90 (-2.60) MARKETS Tuesday Change KLSECOMP 907.52 >0.99 NIKKEI 225 15,805.95 -462.08 HANG SENG 15,576.20 201.52 SET INDEX 750.73 -1.27 JAKARTA COMP 1,212.87 -22.39 MANILA COMP 2,154.30 ___+1fc54 SEOUL COMP 1,389.58 -32.21 SHENZHEN B 224.36
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  • 651 1  -  Profit turnover, credit strength improved: DP, E&Y By OH BOON PING [SINGAPORE] The improving economy has boosted revenue and profit for Singapore's top 1,000 companies and 500 SMEs, according to the latest Singapore 1000 (S1000) and SME 500 rankings. The rankings
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  • Page 1 Advertisements
    • 70 1 m MrnnßMw; Two brands (tominate convertible malted -i^:r' ■iv 8 i I EXEC MONEY Putting options strategies to good use PG 38 COMPANIES EPS outlook for seven property groups PG4 Airocean warns of possible Q3 IoSS PG 5 BT ONLINE BT print subscribers get free access to the Business Times
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  • TOP STORIES
    • 533 2  -  Swoop prompted by suspicion of stock price manipulation By ANTHONY ROWLEY in Tokyo TOKYO stocks plunged yesterday following a raid on the offices and home of an Internet whizzkid promoted by Prime Minister Junichiro Koizumi as a symbol of the bold new
      AFP  -  533 words
    • 71 2 IN our commentary yesterday, "Central bank's wrong medicine", we said that Bank Danamon has indicated that it may have to lay off aboili 4,000 workers this year. The correct figure is 400. And in our report the same day, "Ho Bee's Baywater Collection will be ready for launch in
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    • 622 2 IR probity checks tough on the privacy-conscious THE amount and extent of information that applicants must reveal when bidding for a gaming licence in the United States, Australia, and now most likely, Singapore, is staggering. In effect, gaming commissions require hopefuls to lay bare their own and their
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    • 684 2  -  Boost from Dec surge; performance beats 4-6% predictions Reports by UMA SHANKARI [SINGAPORE] Singapore's non-oil domestic exports (NODX) for last year expanded by a healthy 8.2 per cent beating most estimates, which predicted 4-6 per cent growth. The 2005 NODX figure
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    • 509 2 China, HK account for 16.5% of NODX, US just 14.4% [SINGAPORE] China and Hong Kong together accounted for more of Singapore's non-oil domestic exports (NODX) in 2005 than the US, traditionally a larger trading partner. Trade figures released yesterday by
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    • 611 3  -  Casino applicants must reveal huge amount of confidential data By ALEXANDRA HO [SINGAPORE] It has jokingly been called a "strip show", but it's no laughing matter the staggering amount and extent of information that applicants must reveal when applying for a gaming licence
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    • 580 3  -  COMMENTARY By WONG WEI KONG JUST two local entities are left in the contest to build Singapore's first integrated resort (IR) with a casino at Marina Bay, after City Developments Ltd (CDL), controlled by property tycoon Kwek Leng Beng, pulled out
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    • 825 3 It says there are high risks in US housing market Bloomberg [SINGAPORE] Government of Singapore Investment Corp, which manages more than US$lOO billion of foreign reserves, said it may buy real estate in India and Brazil for the first time to
      Bloomberg; BLOOMBERG  -  825 words
    • 431 3  -  By RONNIE LIM [SINGAPORE] Prices of crude oil and products, like kerosene and diesel, are starting to run up, say industry officials here, as anxiety builds over the "double whammy" of disruptions to output in Nigeria, Africa's largest pil producer,
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  • Page 2 Advertisements
    • 92 2 APPRECIATION Electroglas Private Limited, a leading supplier of wafer probers for the semiconductor industry, would like to congratulate and honour our Suppliers of the Year. We thank them for their outstanding services and support throughout 2005. Products: Gold LHY Engineering (S) Pte Ltd Silver Moritex USA Incorporated Bronze NCT Technology
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  • Page 3 Advertisements
    • 86 3 |H |B Ji ML BRITISH AIRWAYS Terms and Conditions: *Book now, offer ends 2 February 2006. Payment must be made within 5 days of booking but no later than 2 February 2006. Travel between 22 January and 30 June 2006. Flights are return economy ex-Singapore on selected British Airways and
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  • COMPANY NEWS
    • 848 4  -  But this year's figure may fall 12%, says JPMorgan By KALPANA RASHIWALA AVERAGE earnings per share (EPS) of seven Singapore property groups in 2005 will rise by about 35 per cent but are likely to fall 12 per cent this year,
      FILE PHOTO  -  848 words
    • 432 4  -  By ALEXANDRA HO PUNTERS punished City Developments yesterday a day after it announced its withdrawal from an equity partnership with Las Vegas Sands for the Marina Bay integrated resort (IR) bid. CityDev's shares skidded 30 cents, or 3.4 per cent, to
      Source: Bloomberg  -  432 words
    • 433 4  -  Available DPU of 1.84 cents, 8.9% higher than forecast By ARTHUR SIM MAPLETREE Logistics Trust (MLT) is looking to acquire $500 million of assets over the next six months, which Mapletree Logistics Trust Management Ltd (MLTML) chief executive Chua Tiow Chye says
      FILE PHOTO  -  433 words
    • 804 4  -  HOCK LOCK SIEW By VEN SREENIVASAN DEL Monte is one of those names that everyone knows, yet it hardly catches the eye. At least that seems to be the case with the Singapore-listed unit. The shares of Del Monte Pacific Ltd have been drifting
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    • 384 5  -  It cites costs incurred from scaling back China, France businesses By MICHELLE QUAH THERE seems to be little reprieve for trouble-stricken Airocean: the company warned yesterday of a possible loss for its financial third quarter ended Dec 31, 2005, and of continued
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    • 288 5  -  By CONRAD RAJ SYSTEMS integrator Datacraft Asia, despite some painful lessons in China, has not lost faith in the country but will refocus its business there to deal directly with multinationals. Chief executive William Padfield, who disclosed this at a media lunch yesterday,
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    • 349 5  -  By ROLAND LIM LOCAL telco Mobile One (Ml) yesterday announced that it was trialling a new wireless broadband access (WBA) technology which it might use to offer consumers wireless broadband access by year-end. Its latest trial the fourth WBA technology trial it has
      349 words
    • 304 5 MOBILEONE Ltd (Ml), which is announcing its 2005 results today, may report a 14 per cent year-on-year growth in fourth-quarter net profit, says Merrill Lynch. But the US research house says eyes will be on the outlook guidance accompanying the mobile operator's
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  • Page 4 Advertisements
    • 374 4 RECRUIT BUY IT SELL IT FIND IT 7 oI TASMAN ORIENT We are the leading Multipurpose Liner Shipping operator in the New Zealand Asia Pacific Islands Trade. Our parent Companies, Swire and Ahrenkiel, have a proud history of and commitment to liner shipping services in the Pacific region. Following a
      374 words


  • SINGAPORE MARKETS
    • 921 6  -  CURRENCIES This scenario is expected even if things are not often a one-way ride LARRY WEE Senior Correspondent THIS time last year, just about everybody said the US dollar was headed for the Deep South. They were awfully wrong: It chalked up
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    • 502 6  -  by MICHELLE QUAH More MCI Land shareholders accept HKL general offer MORE shareholders of MCL Land have accepted the general offer of $1.75 a share from Hong Kong Land Holdings (HKL). HKL has received valid acceptances amounting to a total of 3.1 million shares. These shares included
      502 words
    • Article, Illustration
      419 6 OTHER SINGAPORE INDICES Jan 17 VALUE CLOSE BT OB/OS 338.00 -231.00 BT CADI -*****JOO -187.00 BT 10-day MA -*****.00 +33.00 AH-SG Equities 611.61 -4.90 SG Equities Elect 124.47 -1.49 SG Equities Fin 1738.33 -13.33 SG Equities Prop 752.44 -6.24 SIMSCI 282.49 -2.22 SiMSCI Futures 282.90 -2.60 MOST ACTIVE STOCKS VOLUME
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    • 256 6  -  Compiled by MATTHEW PHAN ST Engineering Jan 17 close: $2.94 Kim Eng Research, Jan 17 ST Engineering's Marine division announced that the US National Oceanic and Atmospheric Administration (NOAA) will build a fourth Fisheries Survey Vessel (FSV) with VT Halter Marine. The FSV is valued at about US$3O
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    • 399 6  -  STOCKS STI rose 100 points in 11 days, then lost half of gain R SIVANITHY Senior Correspondent A NON-STOP rise for two weeks, then five consecutive days of weakness. Such has been the "feast and famine" performance of the Straits Times Index over the past three weeks,
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    • 352 6  -  CHART POINT By YEO KEE YAN, Kelive Research THE Straits Times Index did perform well in the first two weeks of 2006 but its performance has since eased from 2,440, the level that is just seven points shy of our technical
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  • COMPANY NEWS
    • 422 7  -  MM's offer is 16.8% premium over Mentor's share price before bid By MICHELLE QUAH SHAREHOLDERS of takeover target Mentor Media have been advised to vote in favour of the bid made by MM Holdings, and take the cash consideration that it is offering.
      422 words
    • 137 7 JEL Corp units get two new dealerships CONSUMER goods distributor JEL Corporation (Holdings) Ltd has secured two new distributorships. Its Middle East unit has been appointed by IBM as the authorised distributor for Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, Tajikistan and Azerbaijan. Its Far East unit was appointed by Sime
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    • 207 7 Bloomberg [SAO PAULO] Keppel Corp, the world's largest maker of shallow-water oil rigs, is among six groups that bid for contracts to build US$l.3 billion of oil and gas tankers for Petroleo Brasileiro, Brazil's state-con-trolled oil company. The company's transportation unit, Transpetro, will
      Bloomberg  -  207 words
    • 361 7  -  By VEN SREENIVASAN SINGAPORE-BASED budget carrier Tiger Airways will set up a second base, outside Singapore, this year, according to its chief executive Tony Davis. "We are currently in talks with a number of parties (around the region) and are very
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  • Page 7 Advertisements
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  • SINGAPORE NEWS
    • 391 8  -  It announces 2 schemes to enhance S'pore as trade hub By MATTHEW PHAN SINGAPORE Customs yesterday announced two new schemes to strengthen the country's effort to become a trading and logistics hub. The first is TradeXchange an online interface that simplifies the regulatory processes of import
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    • 310 8  -  By CHUANG PECK MING in New Delhi INDIA wants Singapore to help it set up free trade zones as part of the Comprehensive Economic Agreement (Ceca) that the two countries signed six months ago, says Indian Minister of Commerce and Industry Kamal
      RAKESH SAHAI/ST  -  310 words
    • 268 8  -  YESTERDAY IN PARLIAMENT By ANNA TEO CONTRACT hiring continues to grow, with the number of workers on contracts of less than a year rising to 100,900 in 2004, or 4.9 per cent of employment, according to figures given in Parliament. There were 59,400
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    • 5231 8 UNIT TRUSTS FUNDS ACM Amer kaw BT USO 8 74/ ACM Amer Income A USO 8.71/ ■m (u > (f'njj«i ACM Amcr Income B USO 8.71/ STf n 00/ ACM Amer Income A EUR 7.1* Star Euraro Bond ~"l20* ACM Amer Income B EUR 7.1* sS Euraoe W 161 ACM
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    • 426 10  -  Measure part of plans to ensure business continuity By LEE KIM SIANG SINGAPORE is stepping up its fight against the threat of terrorism with the introduction of SMS text-mes-sage alerts for the business community as part of plans for ensuring business continuity in the
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    • 166 10 MINISTER Mentor Lee Kuan Yew will be visiting the Middle East from today till Jan 25. He will first visitDoha in Qatar, followed by Abu Dhabi in the United Arab Emirates from Jan 23. Mr Lee will meet leaders of the two countries, including
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    • 376 10  -  By RONNIE LIM POWERSERAYA reckons that coal can be a viable ajternative fuel for producing electricity. "Coal remains very much an option. It's just a question of timing and strategy," managing director Neil McGregor said on Monday. "We've done an economic study and completed
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    • 344 10  -  By CONRAD TAN SINGAPORE needs to attract more post-doctoral students to boost its research and development muscle, according to National Research Foundation (NRF) chairman Tony Tan. At the sixth annual symposium of the SingaporeMIT Alliance (SMA) yesterday, Dr Tan said such a move would
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  • Page 8 Advertisements
    • 24 8 AllianzGl Global High Payout Fund rated 4 stars Allianz (fij) by Mercer Investment Consulting. Visit OCBC Bank (or details. ciobaiinvestors company rejjn no *****7169Z
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  • Page 9 Advertisements
    • 62 9 K Bang Boom Event Management from Singapore, Malaysia and Indonesia come together to celebrate the launch of TNBT, THE NEXT BIG THING. It is a promise of what is 9 J» to come for us and our clients. a 8 k TNBT INTERNATIONAL PTE LTD ■20 MARTIN ROAD #10-00 SENG
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  • Page 10 Advertisements
    • 2239 10 >AT^ NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg CITY DEVELOPMENTS LIMITED LOST SHARE CERTIFICATES NOTICE IS HEREBY GIVEN that the undermentioned original share certificates have been reported lost or destroyed:Name of Shareholder Certificate Not. No. of Shares Estate of Tan Tiong Neo Deceased C *****41 1 x 500 Estate of Tan
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    • 209 10 NOTICE TO CREDITORS OF FIRST MEETING IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF INTEGRATED TECHNIQUE PTE LTD (IN LIQUIDATION) Co. Rfo. No. *****1439 M COMPANIES WINDING UP NO. 136 OF 2004/N Notice is hereby given that the first meeting of the creditors of
      209 words
    • 413 10 THE COMPANIES ACT, CAP. 50 HONG YUAN HOLDING PTE LTD (In Vol. Liquidation) Co. Rog. No. *****1936 C NOTICE IS HEREBY GIVEN that the creditors of the above-named Company which is being voluntarily wound up are required on or before the 20 th day of February, 2008 to send in
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  • ECONOMY WATCH
    • 605 11 China's expected to grow, US consumption to pick up Bloomberg {LONDON] World oil demand will accelerate throughout 2006 as China's imports grow and US consumption picks up from late last year, when hurricanes and mild winter weather curtailed use, the International Energy
      Bloomberg  -  605 words
    • 223 11 Bloomberg [NEW DELHI] India's economy is expected to expand 7-7.5 per cent in the fiscal year ending March 31, in line with the central bank's forecast, Finance Minister P Chidambaram said. "All available projections for the current fiscal year point to the possibility of
      Bloomberg  -  223 words
    • 359 11 They save 40% of income, double the world average AP [SHANGHAI] The frugal Chinese had a record 14 trillion yuan (Ss2.B trillion) in personal savings by the end of 2005, as families socked money away to pay for schooling, health care and housing, the
      AP  -  359 words
    • 204 11 Reuters [JAKARTA] Indonesia's rupiah is expected to keep strengthening this year on capital inflows, which could help ease inflation and lead to lower interest rates starting in the third quarter, the central bank's senior deputy governor said. Miranda Goeltom's remarks came after the rupiah
      Reuters; AFP  -  204 words
  • Page 11 Advertisements
    • 62 11 H Hitachi Group of Compnn- on recoivm V V U Honorary Cifi/on Award LEADERS IN TECHNOLOGY a tk r i o x <j> vJT T' /mtr v u> < 1 V f<> v\ v\ flll r*«. In i i'iii m,i HiJfl' fii l t'l If• ollym Uii.iy III) llilni hi
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  • Page 12 Advertisements
    • 1438 12 Special Advertising Feature The Toast of the Town It wasn't <;n lonn P)nn that thp ome curvin 9 a on 9 its ,en 9 th at soot^es jangled at The Ritz-Carlton, we make it better and a little more Without putting too fine a point on it, the Sunday i
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  • Page 13 Advertisements
    • 1421 13 Special Advertising Feature When Business Becomes Pleasure Savvy meeting planners have long known that Singapore is A' -$m 9 mL more than just a destination for exhilarating retail therapy and L I. J f equally thrilling gourmet expeditions. a wtgeM For years now, Singapore has been on the top of
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  • MALAYSIA
    • 509 14  -  Move will create investment banking group to rival M'sian leader CIMB By PAULINE NG in Kuala Lumpur GOVERNMENT-CON-TROLLED Avenue Capital Resources and ECM Libra are to merge in a RM2BO million (Ssl23 million) deal that would create an investment banking group
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    • 293 14 Bloomberg [KUALA LUMPUR] Malaysia's government received applications from seven brokerages seeking to become investment banks by taking advantage of new rules announced last year. The applicants paid a combined RMBO million (5534.8 million) in deposits with one brokerage paying for two discount houses, the
      Bloomberg; AFP  -  293 words
    • 206 14 AP [KUALA LUMPUR] Financial institutions in Malaysia are owed a whopping RM3.12 billion (551.36 billion) by car loan defaulters. But confiscating the 52,000 vehicles would pose a bigger headache because there would be no place to store them, a news report said yesterday. The
      AP  -  206 words
    • 301 14 [KUALA LUMPUR] Financially troubled Malaysian Airline System Bhd (MAS) should consider selling its five-star Four Seasons Resort in Langkawi to help meet funding needs, Malaysia's Business Times reports analysts as saying. MAS, in trying to nurse itself back to profitability, will need some RM3
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    • 392 14  -  By S JAYASANKARAN in Kuala Lumpur MALAYSIAN tycoon Azman Hashim has proposed taking Amcorp group, his listed financial services and property firm, private in a deal that will cost him at least RM6O9 million (***** million). The news of the proposed transaction was
      BLOOMBERG  -  392 words
    • 2305 14 vol General Corp .0.43 unch 249 1 W- Ctm Genting 21.70 0.20 963 George Kent .0.58 -0.01 93 ASM Realty 1.44 -0.01 6 G HI Systems 0.13 unch 5470 Abric 0.31 -0X11 91 Globetronics Tech .0.34 0.02 2416 ACP Industries .0*7 -0.02 83 GlomacBhd 1.13 unch 54 Advance
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  • Page 14 Advertisements
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  • INDIA
    • 406 15 Satyam stake will help IBM cut costs by sending more work to India Bloomberg [NEW DELHI] Satyam Computer Services Ltd, India's fourth-biggest software company, denied it plans to sell a stake to International Business Machines Corp (IBM), the world's biggest
      Bloomberg  -  406 words
    • 310 15 AP [BANGALORE] Talks between the striking employees and the management of Toyota Motor Corp's Indian subsidiary have failed, both sides said yesterday. Nearly 1,550 of the 2,350 workers at the Toyota Kirloskar Motor Pvt Ltd factory near Bangalore went on strike
      AP  -  310 words
    • 667 15 Bloomberg [MUMBAI] India state-run lenders Bank of Baroda and Andhra Bank started selling shares on Monday to raise as much as 24 billion rupees (*****.9 million) to meet growing demand for loans in an economy expanding at 7.5 per cent a year. Bank of
      Bloomberg  -  667 words
    • 504 15 A one-hour session today will help recalculate indexes Bloomberg [NEW DELHI] Reliance Industries, India's biggest non-state company, may have its share price pared by 22 per cent after splitting off phone, power and financial services units to settle a dispute in
      Bloomberg; Source: Bloomberg  -  504 words
  • Page 15 Advertisements
    • 250 15 If you are looking to expand your business globally, join us at International Enterprise Forum (IE Forum) 06, Asia's premier event on internationalisation. Themed "The Globalisation of Asian Enterprise", close to 50 renowned speakers, including international business guru. Ram Charan, will share insights on the strategy and issues of bringing
      250 words

  • GREATER CHINA/INDIA
    • 487 16 Capital's ambitious development plan underlines keen rivalry with Shanghai Reuters. [SHANGHAI] Beijing is planning to build a Disneyland, a newspaper said yesterday, in the latest salvo of an ongoing duel between China's capital and Shanghai to build the nation's first world-class
      Reuters.  -  487 words
    • BRIEFLY ASIA
      • 81 16 Reuters [HONG KONG] Hutchison Telecommunications International Ltd said yesterday its India joint venture Hutchison Essar Ltd has completed the acquisition of Indian mobile networks operator BPL Mobile Cellular Ltd for US$l.l6 billion. Hutchison Telecom, the emerging markets cellphone arm of Hong Kong tycoon Li Ka-shing's
        Reuters  -  81 words
      • 119 16 Reuters [HONG KONG/SHANGHAI] China's largest financial conglomerate, China International Trust and Investment Corp (CITIC), moved yesterday to streamline its investment banking business to beef up its cross-border capabilities in the face of increased foreign competition. CITIC arm and China's top brokerage CITIC Securities
        Reuters  -  119 words
      • 74 16 Reuters [MUMBAI] India's largest private refiner, Reliance Industries Ltd, plans to pay US$33.B million for a 25 per cent stake in a proposed 60,000-bpd refinery in Yemen, the Hindu Business Line newspaper reported yesterday. The refinery is being developed by Ras Issa Refinery
        Reuters  -  74 words
      • 90 16 AFP [MANILA] Indonesia's Lippo Group and partners from Hong Kong and Austria are investing some three billion pesos (Ss93 million) to recapitalise a Philippine bank under a deal struck with the Manila government, company officials said yesterday. Hong Kong-based investment bank AO Capital Partners,
        AFP  -  90 words
      • 68 16 AFP [BEIJING] China National Petroleum Cdrp (CNPC), the country's largest oil group, plans to double its overseas business volume by 2010 as part of an ambitious growth strategy, a company statement said yesterday. CNPC, the parent company of Hong Kong-listed PetroChina, aims to pump at
        AFP  -  68 words
      • 78 16 AP [SHANGHAI] Huawei Technologies Co, China's biggest telecommunications equipment maker, saw its global sales jump 40 per cent last year to US$B.2 billion, the company reported. The company, based in the southern city of Shenzhen, said its overseas sales accounted for U554.75 billion
        AP  -  78 words
      • 76 16 AP [BEIJING] China said yesterday that 32 outbreaks of bird flu last year killed 154,600 poultry and led to the culling of more than 22.5 million birds as the country fought to curb the spread of the virus. Farmers received more than
        AP  -  76 words
    • 463 16 This would ensure country's economic, financial security AP [SHANGHAI] The government must keep its status as the majority shareholder of state banks to ensure China's economic and financial security, a senior official said in remarks published yesterday. Meanwhile, a mid-sized
      AP  -  463 words
    • 283 16 Reuters [TAlPEl] Taiwan President Chen Shui-bian said yesterday he had accepted the resignation of Premier Frank Hsieh in a long-ex-pected Cabinet reshuffle after the ruling party's crushing defeat in December local government elections. Under Taiwan's political system, the democratically elected president appoints
      Reuters  -  283 words
    • 422 16 But court says commission can save its resources [HONG KONG] The Securities and Futures Commission (SFC) came under at-, tack on Monday from the sister of casino boss Stanley Ho for chasing minor breaches that resulted in paltry fines while dismissing a
      422 words
    • 271 16 Reuters [HONG KONG] Chinese chain store operator TrustMart is looking for a buyer in a deal that could be worth around US$2 billion and consolidate a fastgrowing and ferociously competitive retail sector, a source said yesterday. US-based Wal-Mart Stores Inc, the world's biggest
      Reuters  -  271 words
    • 282 16 Reuters [SHANGHAI] The finance arms of China's major industrial firms could invest at least six billion yuan (Ssl.2 billion) in domestic stocks, official media said yesterday, as part of a drive to divert more funds into the troubled markets. The
      Reuters  -  282 words

  • ASIA-PACIFIC/WORLD
    • 509 17 40.OOO claims stopped, half due to suspected organised crime [LONDON! Fears that organised crime gangs are targeting the UK government's £16 billion (5546.3 billion) tax credit system were heightened on Monday after ministers admitted there had been a surge in fraudulent claims,
      509 words
    • 379 17 NYT [NEW YORK] Takeover talks have faltered between a consortium of buyout firms and Affiliated Computer Services a technology outsourcing company based in Dallas, Texas according to sources involved in the negotiations, and the deal is now in jeopardy. The transaction, which would
      NYT  -  379 words
    • 255 17 Bloomberg [SINGAPORE] HSBC Holdings Pic, Development Bank pf Philippines and Banco De Oro Universal fanlrare inviting lenders to join a US$25O million loan for San Miguel Corp as it seeks to buy a stake in Del Monte Pacific Ltd, a
      Bloomberg  -  255 words
    • WORLD WATCH
      • 74 17 Bloomberg [BEIJING] Turkey's avian influenza crisis is adding impetus to a global campaign aimed at arresting the lethal virus and may spur countries to increase financial aid, a World Bank official said. Avian flu has killed four people in Turkey this year. As
        Bloomberg  -  74 words
      • 91 17 Bloomberg [MOSCOW] Shares of OAO Lukoil,Russia's biggest oil producer, had their biggest jump in more than a year after the company last week said that higher prices and production spurred record earnings in the third quarter. Lukoil shares rose US$4.B5, or
        Bloomberg  -  91 words
      • 77 17 AFP [LONDON] At least six high-ranking managers at German-US car giant DaimlerChrysler have been suspended over bribery allegations linked to the UN oil for food programme in Iraq, the Financial Times said yesterday. In a report published in October, DaimlerChrysler was one more than
        AFP  -  77 words
      • 55 17 Bloomberg [HONG KONG] HSBC Holdings appointed Simon Cooper as president and chief executive in South Korea to replace Rick Pudner. Mr Cooper, who starts his new role in April, joined the London-based lender in 1989, HSBC said. He currently heads corporate and
        Bloomberg  -  55 words
      • 94 17 Bloomberg [LONDON] NTL Inc raised its offer for Virgin Mobile Holdings to £919 million (552.6 billion) a month after the mobile-phone company rejected a previous bid from the cable-television provider as too low. Virgin Mobile's minority shareholders would get 372 pence
        Bloomberg  -  94 words
    • 530 17 They will have to publish all perks and compensation Bloomberg [WASHINGTON] The US Securities and Exchange Commission met yesterday to vote on a proposal to increase disclosure of hidden executive pay amid criticism from investors that companies often overpay management. SEC.
      Bloomberg; BLOOMBERG FILE PHOTO  -  530 words
    • 451 17 Reuters [LONDON] Pitching for awards has joined pitching to companies as a mainstay of an investment banker's job, as the array of gongs awarded to banks by trade magazines increases every year. The International Financing Review (IFR) hosted 1,500 bankers, company
      Reuters; AP  -  451 words

  • AVIATION
    • 568 18 Reuters {PARIS] Airbus outsold Boeing in 2005 with 1,055 net orders, it said yesterday, capping a record year for both marked by fierce price competition and strong demand from Asian and budget airlines. Airbus almost tripled the 366 net orders it had captured
      Reuters  -  568 words
    • 800 18 city matt eta wan rro SQ147 2235 ao786s 1925 Adcbid*. DS77rT74T l?97S 1315 *885 38% SQ230 1745 SQ22§ 1118 635" Q*6X 1*16 till II |b™ l ill Jll "f "Sffi ll fgm ■■■fall MZ900 114Q M2901 1245 Bangalore IC957 0700 IC958 0750 Guangzhou CZ353 1305 CZ3062
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    • 703 18  -  Culture of constant change and innovation helps it weather crises, says book Reports by VEN SREENIVASAN [SINGAPORE] Singapore Airline owes its unrivalled success in the commercial aviation business to its consistent and coherent strategy of aligning its core competencies and organisational
      ARTHUR LEE  -  703 words
    • 398 18 [SINGAPORE! Selling down its stakes in SIA Engineering Company and Singapore Airport Terminal Services would be a legitimate downsizing strategy for Singapore Airlines as it seeks to cut costs, reduce organisational complexity, and improve focus on its core airline business. Associate Professor Nitin Pangarkar who heads the
      398 words
    • 301 18  -  by VEN SREENIVASAN SINGAPORE will offer new incentives for airlines which help boost Changi as a hub, Minister of State for Finance and Transport Lim Hwee Hua said yesterday. In a speech at the annual airport reception, Mrs Lim said the government had
      301 words
    • 116 18 AP [CANBERRA] A Qantas Airways Boeing 747 airliner flying to Los Angeles returned to Sydney yesterday after an engine caught fire minutes after takeoff, media reported. Passengers heard an explosion from one of the jumbo jet's two right wing engines, Australian Broadcasting Corp
      AP  -  116 words
  • Page 18 Miscellaneous
    • 292 18 CRYPTIC CROSSWORD er in America (6) 8 MB 1 A gem to talk bird not turkey 13 One who has lost the match 14 Impassive but strong when touring first troops (6) 19 She's found in something ne»- iW 20 Man turns up in fish paint (6) 23 It was
      292 words

  • SHIPPING
    • 385 19  -  Tokyo conference pledges support for moves to enhance straits security By DONALD URQUHART [SINGAPORE] Representatives of 14 countries, including the US, China, Japan and the UK, have urged further measures to tighten up the security of the seagoing containerised supply chain.
      385 words
    • 863 19  -  STRAIT TALK By DAVID HUGHES THE mutual liability insurers for the international shipping industry, the so-called protection and indemnity (P&I) clubs, have not been having an easy time recently. That they are being squeezed in several different ways comes across clearly in Lloyd's
      863 words
    • 114 19 Bloomberg [JAKARTA] PT Berlian Laju Tanker, Indonesia's biggest shipping company by market value, said it plans to sell shares overseas. "The company is planning to list the stock overseas, but that is still in discussion stage," corporate secretary Kevin Wong said in a statement released
      Bloomberg  -  114 words
    • 331 19 Reuters [STRASBOURG. France] The European Parliament is set to reject a plan to open up EU port services to greater competition which has sparked violent demonstrations and mass walkouts by dockers, lawmakers said yesterday. The draft rules prompted workers at ports around Europe
      Reuters  -  331 words
  • Page 19 Advertisements
    • 27 19 /7MVANT SHIPPING I •Thailand: Bangkok, LaemChabang I Managing Agant: PELANGI SHIPPING PTE LTD 40A CRAIG ROAD SINGAPORE *****8 I Tel: 6223 4455 Fax: 6223 1167 Email: pelsin@avantgroup.com.sg
      27 words
    • 26 19 GOOD GAINS Let your Investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email rKrtices@sph.com.sg. r V* J1 1 NOTICES
      26 words
    • 164 19 22 24 Mar 200S Asia Pacific Singapore Expo maritime www.apmarttime.com i inßilUJ'HinrTiifc ~y jf-r* Masters tvithci J&aaL DIFFERENCE... j MKA ik Sttathclyde WW rfKry M/.i/rc.M wit Inn ,in\ll> .jBF I lie sll.ll In l\ tie (,i ai!n.\(<■ s< liool«»t Husjncss 11 ls< ,s|{ mii(|ticl\ In .1 holis( j< 1 n>i
      164 words

  • EDITORIAL & OPINION
    • 524 20 EDITORIAL WHAT will happen to the US dollar in 2006 is probably the biggest guessing game in the currency markets. Many economists suggest that this will be the year the greenback will face its moment of truth namely, that it will cease to resist the laws of
      524 words
    • 781 20  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent EUROPEAN Union (EU) policymakers describe the unexpected mood of confidence sweeping across the 25nation bloc as the "Merkel factor". Germany's new Chancellor Angela Merkel, they say, has not only given a much-needed psychological boost to her country's
      781 words
    • 1033 20  -  Japanese companies suffer from low growth, poor branding and baulk at acquisitions ANTHONY ROWLEY Tokyo Correspondent THE sight of three leading Japanese electronics firms huddling together for protection against the likes of once upstart South Korean rival Samsung may have surprised those
      REUTERS  -  1,033 words
    • 1805 21  -  German industry is on the mend, growth is quickening and consumer spending is rising By MARK LANDLER NYT Germany, after four years of stagnation, is showing signs of reclaiming its role as the economic engine of Europe. And much of the credit goes
      NYT; AFP  -  1,805 words
    • 401 21  -  LETTERS TO THE EDITOR Ang Hao Yao I REFER to the commentary, "The plight of minority shareholders" (BT Jan 11), by prominent corporate governance academic Mak Yuen Teen. Prof Mak accurately points out several areas in which minority shareholders get the short end of
      401 words
    • 424 21  -  Leong Sze Hian I REFER to media reports about a scholar who was sued by PSA Corporation for repayment of his NUS scholarship monies, because he failed subjects which he eventually passed (TNP. Dec 8. 2005). This case may be sending the
      424 words


  • 10205 22 SGX MAINBOARP WW* Tel u* Val Day IMQMi Grt* Mr SrVM MM MO*B>| lam Code Company Site *fr ffW> Htgti taw !»>» M«f 9k Cut X W 7 7 5/16 1st Software St 3 unth 92 J 15 2.5 3 121 27 6 3148 BTeteoarr US2c 7.5 OS
    10,205 words
  • Page 22 Advertisements
    • 46 22 Jaßl FOLLOWING THE SUN'S RHYTHM THE WATCH OF YOUR LIFE ilfrll* T/ fcfdP«pMjM^^^Mj r ,:^W V- ,-wjp. NS%S| At: AUOEMARS PIQUET LA BOUTIQUE T«N: 6836 4818 Sol* Distributor Scrvioa Centre: AUDEMARS PIQUET (SINGAPORE) PRIVATE LIMITED 5410rchwd Ro d *****1 T#l: 8238 8878 Fa 623B 95 78
      46 words

  • 6196 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES in local curr In SS In USS dy Syr dy yr *dy *yr Jan 16 Index Change Change Change Change Change Change World Index Preliminary 995.2 0.0 16.7 03 11.9 00 11J t EAFE Preliminary 991.7 0.0 28.4 0.3 16-2 0.0 16.1 Europe
    6,196 words

  • MOTORING
    • 649 24  -  Car costs up to $8,000 less than petrol-driven E200 Kompressor, thanks to green rebate, reports SAMUEL EE SAMUEL EE THE first Mercedes-Benz E-Class passenger car powered by compressed natural gas (CNG) has been sold, and it costs up to $8,000 less than a normal E2OO
      649 words
    • 591 24  -  They are Merc and Peugeot; the latter stays on top with just two models By SAMUEL EE IT'S a tiny market and two brands dominated the open-top segment last year. Together, they made up almost half of all convertibles sold in Singapore. The two marques
      591 words
  • Page 24 Advertisements
    • 357 24 ur™ Diners Club Card To apply, ca*****6 0980 A WorU of Exclusive Privileges Treats Diners Club 'HHIHP HmP v International uihl i j *****1 MUS off For Sushi Sashimi j SPflMi Terms Conditions Apply Sushi Don Pte Ltd 109 North Bridge Road #81-01 A Funan Digitalife Mall, Tel: 6338 9894
      357 words

  • SINGAPORE 1000/SME 500
    • 245 25  -  By OH BOON PING ON the whole, 2005 was a good year for businesses here. With a strong recovery in the economy and rising consumer optimism, many of the winners of this year's Singapore 1000 (S1000) and SME 500 Awards experienced better sales and profits
      245 words
    • 792 25  -  Its Asia president Peter Tan talks to OH BOOM PING about the company's expansion plans OH BOOM PING FOR Nasdaq-listed Flextronics, a provider of electronics manufacturing services (EMS), India's booming technology and telecom industries provide a key growth opportunity for the company, thanks to
      ARHTUR LEE  -  792 words
    • 688 26  -  OH BOON PING finds out why trust is such a great motivator at Allegro Manufacturing OH BOON PING THINK outsourcing, and low cost immediately comes to mind. But outsourcing of manufacturing functions is also about quality and trust, says Way Tu, chief executive officer of Allegro Manufacturing, a
      BLOOMBERG FILE PHOTO  -  688 words
    • 839 28 The DP Credit Rating system quantifies the probability of a company defaulting within a given time frame CLOSE to three in five companies from the top 1,000 companies ranked by turnover have an investment grade credit rating, according to data from the latest Singapore 1000
      839 words
    • 924 29  -  Used car dealership Car Times has grown from a $30m operation in 2001 to one with a turnover of $120 m last year. oh boom ping reports OH BOOM PINO THESE days, many car dealership businesses thrive on the sale of new cars, thanks to consumers'
      ARTHUR LEE  -  924 words
    • 919 30  -  WINSTON NGAN and SELVAMALAR MANOHARAN explain why it is both relevant and practical for SMEs WINSTON NGAN SELVAMALAR MANOHARAN GOOD corporate governance is not rocket science. Neither is it solely the responsibility of national leaders. It is simply honest and transparent dealings by every owner, manager and employee
      919 words
    • 919 32 their robust sales and healthy financials, Singapore's top SMEs their mark on the corporate landscape SINGAPORE'S top-tier SMEs have come a long way, going by data from the latest SME 500 publication put out by DP Information Group. Long seen as the poorer cousins on
      REUTERS  -  919 words
  • Page 25 Advertisements
    • 94 25 jjy Raffles bunkering pte ltd J- V 0-+,- jj ■> Annual Congratulations From: BHL BH g JST sssffirai DAH HOE LEOHG MARINE SUPPLIES SDH BHD DUHKER HOUSE PETROLEUM PTE LTD CHEMOIL CORPOHATIOH CHIMBUSCO PAH HATIOH HOLDIHGS (HK) LTD COCKETT MARIHE OIL (ASIA) PTE LTD ESBBm O COSTAHK (S) PTE LTD
      94 words

  • Page 26 Advertisements
    • 299 26 n mi 1 I Mill Hr 9 m mm B HBI c«n >» MOWI cut NO n»«Mtir Commercially Proven to Excellent Properties SINGAPORE ASAHI chemical solder fl Approsch. {Established in Singapore smce 1977 as a pioneer in solder teehnolog^tg^^^f'''Ji' I EaB6 of Implementation 47 Pandar Road, Singapore *****8. Tel: (65)
      299 words

  • Page 27 Advertisements
    • 141 27 I I 11 Tuas View Crescent (off Tuas South Ave 3) I I IU I Multico Building Singapore *****3 Ws*M r J l dVYaa [•?I*''sMSi -r¥- MK^• --<anw »^32ZSL rlk&iL# §|j|f [If j ..> v*i x v r#^. Pr r ifiii I \p i Multi-Corporation (S) Pte Ltd is honoured
      141 words

  • Page 28 Advertisements
    • 315 28 Sineurope Pte Ltd S SMurasmo mmmmm SME 500 Top 100 by Sales Turnover SME 500 Top 100 by Net Profit A NEW WAVE OF EXCELLENCE Sineurope Pte Ltd is honoured to be ranked among the best at the 19th Annual Singapore 1000 SME 500 Awards. As one i of the
      315 words
    • 37 28 I I I oil our t W Serving you at over y I 150 ports in the Far East, fc If China, Southeast Asia, Australasia, Indian \E Sub-continent, Middle J? aist ec ea> A^rica > •fM\ Europe, Canada
      37 words

  • Page 29 Advertisements
    • 200 29 _A local brand helps the world take a break. I I J I. II H II H to I "4 I V 111 WlfflifafllSßr c. 't' t *f £?cc!t,T-' fa w-v. L- -> 7*-ti-"'"T ti'iVfr '4 A global bank helps the local brand get the right breaks. When local brands
      200 words

  • Page 30 Advertisements
    • 615 30 11RP!ilBf -^ljf^ppw|PP^B||jipwp»' •f !V< *> > ft •> >sif ■P'l! Bfeair jy technokxrv precision enaineerioa iwji f* "Wij J vwwipw vi iMn wvi r iu ®TjH company that specialises in m mechaiffoal engineering of automation projects, and M Singapore 1000 deve, leading-edge hard- JB ■WW" crm W B components for
      615 words

  • Page 31 Advertisements
    • 166 31 Suriber SWIBER OFFSHORE PTE LTD sMMILa Office: 171 Chin Swee Road, #02-12 San Centre, Singapore *****7 Tel: (65) 6223 6151 Fax: (65) 6225 0071 Company Reg No. *****8533Z BB lIHIHMSBHBhBR I Swiber Offshore Pte Ltd I is honoured to be ranked as one of the Singapore SME SW; Itop 50ia
      166 words

  • Page 32 Advertisements
    • 214 32 "It's all because of your support." 4 Car Times Awarded Singapore 1000 Highest Sales/Turnover Growth: Retail After picking up the much sought after Enterprise When asked about the rapid growth at Car Times, Mr Loo said cn r n nnrnnnnr nf iu n n/mn Lj nr that hard work, honesty,
      214 words

  • Page 33 Advertisements
    • 359 33 W 19TH ANNUAL SINGAPORE 1000 SME 500 lawards '•< i*' 1 M <-'w SINGAPORE 1000 It. Highest In Sales I Turnover by Industry I Comm/Transport/Storage SINGAPORE TELECOMMUNICATIONS LTD Finance TOSHIBA CAPITAL (ASIA) LTD l Hotels/ Food Establishments HOTEL PROPERTIES L}B T~~" Manufacturing __Z I FLEXTRONICS INTERNATIONAL LTD I Retail 2
      359 words

  • Page 34 Advertisements
    • 999 34 We offer fully containerised service I I I m m connecting the world: UIUUdII y dedicated anada/E rope s, fc" es J Mediterranean/Russia/Black Sea/Latin I II America' South Africa/Australia-- New M r Zealand'Hawaii/Mexico/lntra-Asia iOOU-pfcO p or complete/specific schedule WE ARE MORE THAN JUST A LINER COMPANY information, please visit our
      999 words
    • 532 34 I—HILI vissa/vor mwwi mamm m koi ia s» n Jiwmwm«oz/» I is 32 73/01 24/ Di 31/01 03/02 05/02 SHAfTS VOITUIff 03/06 IS 32 07/0? 10/02 IsmnsExntssroi 30 11 14/02 *^rzz^^"^nTZT"mr^^!izr"x^^»~ i mtomiwMMmpm WPEOI IK¥IW j vßsa/vor uwrni hbghud m sw w w m I I ia SUUIN/D73 SO 4i
      532 words

  • Page 35 Advertisements
    • 1552 35 WAN HAI INTERNATIONAL PTI LTD a Nfc 14*9******/1 VTTA llflll II A I MiiPl* TH:*****5M (MUNIS) FAX:*****143 V\M4 > WAN lIAI I INF> SOTfca/kofctop DHct Um (1800) *****200 V 11 V lIHII llftl klllhj WIB:(O3)3344WIHUbO9SM232MHN Ift: 104)*****00M1:M2MW V JOHTH: (07) *****73 FAX: (07)*****21 Sill JH: (03l| *****75 HUL (031) *****14/
      1,552 words
    • 1239 35 VBSa WY SIN JKT HKS KHH I* KYH PUS VESSEI VOY TP JKT SUB HKG USN PUS HY PROGRESS 107S If/I 21/1 24/1 21/1 30/1 1/2 1/2 KMTCPUSAH MIS 22/1 2S/1 26/1 31/1 4/2 6/2 HY KIDGE "IOtS 26/1 21/1 2/2 4/2 6/2 i/2 "j/j"] KMTCS SINGAPORE MIS ["ivT 1/2
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    • 855 35 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS visa VOY sin pjuanglcoiombo n. shfva COUMMO tAIIV GANDHI 01 DOW MUM 31 JAN 03 FFI Qt FFI 09 FH KOTA PERTAMA TPMO3I 06 FEB 07 FEB Hfl UH litfl HOWRAH BRIDGE 0049W I3FEI 14 FA 17
      855 words

  • Page 36 Advertisements
    • 943 36 ES Nordana (Asia) Pte Ltd ftTTTT" BaBB 70 Shwrt— W«y, #21-03 WUri- Htw Shppiri 07*111 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS OWES Alt AllfVAl DATS Ivtsstt VOY ago m» fra—lW Ctwlihrf (kit!—thhri Islond Express lE6OI X 24Jon 01_W MU 09 Fob klond Express 1E602 ll_Feb
      943 words
    • 716 36 Vtssa VOY SM PStl Ytssa VOT SM JKT PAOAMOA *****1 11/01 13/01 PMOMMII 0333 ~u7li 17/01 mjm* m* MZfii M/9i w ZMjH ;yo CSf 2301 022SP 14/01 15/01 MCIWIMI 0334 21/01 24/01 ggj! m BSB- mmb —j— M—M— —ss —be —m- 1 a I «ja leg I YKSE VOT SM
      716 words
    • 539 36 354^2^2/01^2^B/o^^^M/^^ ■HW|fifV|T)GaKAItL 355H 24-25/01 31 02/02 07-08/02 1 KU|Uiftifl TIGER 5U 356NA 28-29/01 03-05/02 11-12/02 1 B W 3S6N 30 31/01 04 05/02 12-12/02 1 ■■■■■TIGaSKY 357N 31-01/02 07-09/02 14-15/02 1 PMBJnGBWAVt 358N 04-05/02 10-12/02 18-19/021 KirTrUiilaTicHniff 07m im/m 75-77/ m M-os/D? ■HHHWltiger SWOT 115 20-21/01 28-30/01 0109/021 ■UjUUxPRESLHOTy 435
      539 words
    • 563 36 BSA -L <, MHSfVTfsTsyracvTS9rfßSC^^Hr o MYANMA VH FIVE STAR UNE (Myanmor National Line) Loading far Yuagoa VBsa voy sin m m poi OM SHWI HAW 90W SLD PAGAN 349W $10 IN MALAYSIA: IOUSTIAD SHIPPING AGENCIES KUI/PKL 03-300S03SS PIN: 04-*****1S ACCEPTING CONVENTIONAL CBO VBSa VOY HKG SM KL KH IN mi
      563 words

  • THE BUISNESS TIMES SHIPPING TIMES
    • 7170 37 This ETA ETA Advcrtbcr Vessel Voyage Telephone ETA ETA Advertfcer Vessel Voyage Telephone SIN Desfn Name Name Number Number SIN Oesfn Name Name Number Namber MnnMBaHMBRHMMMNMHBMMMMMMMMMMMMMNMHMMMHMHMMMI ■■■WPBHMMHMHMBHHHMHaHBHMHHNMMi 0*102 01/03 China Shpg CMA CGM KALAMATA SX209W *****898 To ABIDJAN (ABJ) 2003 Cote D'lvoire j 0
      7,170 words

  • executive Money
    • 1559 38  -  Putting options strategies to good use is what a US-based educator aims to teach investors in its seminars. GENEVIEVE CUA finds out GENEVIEVE CUA HOW would you like to make money whether the market rises or falls? Or, protect your investments against market downturns? Or, make
      YEN MENG JIIN  -  1,559 words
    • 907 38  - Novel instrument for stock investors CFD INVESTING WITH A DIFFERENCE Contract for differences contains elements of individual stock trading and gearing benefit of derivatives. R SIVANITHY explains R SIVANITHY JB M HEN it comes to parII m ticipating in the H M m stock market, most V m M m
      907 words
    • 420 38  -  By GENEVIEVE CUA GREAT Eastern Life has launched the first endowment plan that is based on a structured fund, with a capital guarantee and returns linked to a basket of indices. GE's new "High 6" plan is a single premium non-participating plan linked to six
      420 words
    • 990 39  -  By RAY BARROS AS WE go into 2006, it is an opportune time to review what I wrote in 2005 on the United States stock market. I held the view that a long-term bull market terminated in December 1999 (DJIA)/March 2000 (S&P). A sideways market could be
      Source: Ray Barms; AFP  -  990 words
    • 327 39  -  Singaporenjomiciled funds By Chua Boon Lee, Standard Poor's Associate; Fund Services The mix of Singapore-domiciled funds has undergone a significant shift in the past year, with a noticeable tilt towards equities. Based on the reported figures provided to S&B the aggregate size of all locally domiciled funds (excluding
      327 words
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  • Page 39 Advertisements
    • 127 39 At Glittering Points To a STAR investment VP Early Termination Capital Guaranteeof the Fund 3 IftO It ft! I® CS! SP Clint! Chinese New Year Goodie c lIOUIIIG *5"." rtlllll Especially for You! Based on six (6) Singapore blue-chip stocks, the Income Star Fund aims Fo; ev( p'V SSIO.OOO inve^teo
      127 words

  • SPIRIT OF ADVENTURE
    • 1184 40  -  Fanny Lai deals with a very different kind of corporate animal in the workplace. The executive director of the Singapore Zoo tells CHEAH UI-HOON why she exchanged power suits for more rugged wear CHEAH UI-HOON IMAGINE having a boardroom meeting right next door
      ARTHUR LEE  -  1,184 words
    • 28 40 The powerful engines are dust and water-proofed, so they are as comfortable crossing a river or desert as they are hurtling around a racetrack.
      28 words
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