The Business Times, 24 January 2006

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Total Pages: 30
1 30 The Business Times
  • 17 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asia 1 .cofn.sg MICA (P) 089/03/2005 Tuesday, January 24,2006
    17 words
  • 826 1  -  Thai conglomerate seen as unique opportunity to gain exposure to country's growing communications sector, says Temasek By MANJUSHA DEVI in Bangkok SINGAPORE investment company Temasek Holdings yesterday put an end to months of speculation by announcing that it will buy 49.6 per
    826 words
  • 601 1  -  But it slips four rungs in global ranking: survey By CHUANG PECK MING [SINGAPORE] The typical top executive in Singapore collected pay and perks of more than US$l million last year for the first time, as the strong economy boosted performance bonuses
    Source: Towers Pemn  -  601 words
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    • 10 1 A A CORPORATE governance Sias chief paints dismal picture PG6
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    • 23 1 SINGAPORE MANUFACTURING Investments ill *06 hit $8.5b PG4 |V i?j w f^yi^will mj i ij 'lll^H^HMHtiHiMHili^Hi^H^HlillHl *^^^^^^B^^^B^^^^^^^IBJI^BIIBHBMHHiHHHNBMiHMBVOMBHi!HHHHHNIHjiIIBIHIIBIij||HNjHHjHIQHHINHMHiiIIHIHiHHBiijj|ij|||||||iHIBijHijiHMKIiIHIIn 8 HI Market* Digtft Pfl 4
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    • 13 1 GB& Stocks stir as oil prices soar Livedoor president > ARPFSTED W¥~: i jip
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    • 34 1 SME SPOTLIGHT Tipsonjmuiting independent directors pgii MORE REPORTS Commentaiy: Will the buyer reap the gains? pg2 Temasek has no plans to sell AIS to Sing Tel pg 2 Analysis: Behind theTemasek-Shin deal pg 21
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  • TOP STORIES
    • 599 2  -  COMMENTARY By WONG WEI KONG THE Shinawatra and Damapong families look like clear winners in the sale of Shin Corp, the biggestever deal in the Thai stock market. The jury, though, is still out on Temasek Holdings, which is leading investors to buy the
      599 words
    • 1074 2  -  Investments MD says GO waivers do not mean it's selling Shin's other listed units By SIOW LI SEN [SINGAPORE] Temasek-has no intention of selling its newly acquired Thai telco unit Advanced Info Service (AIS) to Singapore Telecommunications, and neither is it
      AFP  -  1,074 words
    • 411 2  -  Temasek will now become partner in Thai AirAsia By VEN SREENIVASAN [SINGAPORE] It really does look like Tony Fernandes will have to live with a Singapore partner in Thailand. Temasek's takeover of the Thai prime minister's family's stake in Shin Corp effectively makes
      411 words
    • 508 2 Manufacturing investments in S'pore hit $8.5b NEW investments from Asia-Pacific countries such as-China, India, Australia and New Zealand helped lift investment commitments in Singapore's manufacturing sector to $8.5 billion in 2005, exceeding expectations and investments the year before. And on a cautiously upbeat note, the Economic Development Board
      508 words
    • 554 4  -  EDB aims to sustain level this year despite global uncertainties By CHUANG PECK MING [SINGAPORE] New investments from Asia-Pacific countries such as China, India, Australia and New Zealand helped lift investment commitments in Singapore's manufacturing sector to $8.5 billion in 2005, exceeding expectations and
      Source: EDB  -  554 words
    • 641 4  - Lessons from management guru in person By MATTHEW PHAN [SINGAPORE] With a career that includes 35 years consulting with General Electric, the world's largest private company, and serving as an aide to legendary leader Jack Welch and his successor, Jeffrey Immelt, Indian strategist and author Ram Charan can expect people
      641 words
    • 413 4  -  LIVEDOOR SCANDAL Takafumi Horie allegedly provided false info on corporate deals By ANTHONY ROWLEY in Tokyo TAKAFUMI Horie was arrested last night along with four of his colleagues on the order of prosecutors for allegedly providing false information about corporate dealings. The latest
      PHOTOS: AP, REUTERS  -  413 words
    • 157 4 IN our report yesterday, "Foreign buyers clinch 44% of top-end homes", we said that foreign nationals including permanent residents accounted for 44.1 per cent of private-home buyers in the high-end segment last year. The Urban Redevelopment Authority yesterday pointed out that the correct figure is 31 per cent. It
      157 words
    • 138 4 sn 2,364.97 (-23.94) ST INDEX FUTURES 2,365.00 (-25.00) SIMSCI 280.16 (-2.57) SIMSa FUTURES 279.60 (-2.70) MARKETS Monday Change KISECOMP 902.51 -2.90 NIKKEI 225 15.360.65 -336.04 HANG SENG 15,464.77 -197.31 SET INDEX 750.28 +2.58 JAKARTA COMP 1,200.13 -22.76 MANILA COMP 2,099.51 -8.74 SEOUL COMP 1,297.43 -27.35 SHENZHEN B 241J7
      138 words

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    • 261 3 li 11 L3WU J'ji YV7 *MF\ Mm: Jrjr f i|H w **iaj»v A>T'( > W uHI^IHHHMHHB*vBBIHHI[^KSMHBHKK^n*IaS9fIBHi CELEBRATE OUR NEW FLIGHTS TO MOSCOW WITH A SPECIAL FARE OF $1,050*. Singapore Airlines flies to Moscow 3 times weekly from 1 March. Discover Russia's colourful capital rich in history and cultural heritage. From
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    • 202 4 LU CENTRAL BANKING: CC THE WAY FORWARD TOMMASO PADOA-SCHIOPPA I Chairman of the lASC Foundation (International Accounting Standard Committee) O President of No re Europe (Paris) m Chair KISHORE MAHBUBANI Dean, Lee Kuan Yew School of Public Policy FRIDAY, 3 FEBRUARY 2006, 3.30 PM Level 8, Plenary Room OLee Kuan
      202 words
    • 20 4 SINGAPORE INTERNATIONAL How are Singapore companies doing abroad and who's leading the pack? Find out in BT's special focus tomorrow
      20 words

  • COMPANY NEWS
    • 697 5  -  But oil-linked counters like SPC, Keppel Corp rally as crude hits US$69 By RONNIE LIM OIL prices are set to scale new heights this week, surpassing last August's record U5570.85 a barrel. Traders expect the spike after crude continued its run-up yesterday to US$69,
      AP  -  697 words
    • 689 5  -  HOCK LOCK SIEW By R SIVANITHY IT IS exactly two weeks since this column warned of the dangers of rising complacency in stocks, especially since Wall Street appeared increasingly vulnerable to earnings shocks and the US bond market's yield curve was still
      689 words
    • 385 6  -  It finds many S'pore firms not fully compliant with voluntary code By LESLIE YEE MANY Singapore companies appear not to be keen on full compliance with the voluntary Code of Corporate Governance (CCG) issued by the Ministry of Finance, according to findings by the Securities Investors
      385 words
    • 533 6  -  BRIGHTER STOCKMARKET OUTLOOK By TEH HOOI LING UNZA Holdings, an independent manufacturer of personal care and household products in South-east Asia, yesterday re-started plans for its initial public offering (IPO) by lodging its preliminary prospectus with the Monetary Authority of Singapore (MAS). Unza is
      533 words
    • 605 6  -  By CONRAD TAN DiESPITE the upbeat note on the economy, the Singapore stock market is likely to post a smaller increase this year, say analysts. And some are bullish on consumer stocks. Key drivers of the benchmark Straits Times index (STI) mainly
      605 words
    • 407 6 Bloomberg BANYAN Tree Holdings Pte, which runs luxury resorts, is reviving a US$2OO million initial share sale that was shelved after a tsunami devastated coastal regions of South and Southeast Asia, bankers familiar with the plan said. Banyan Tree is seeking to sell the shares
      Bloomberg; FILE PHOTO  -  407 words
    • 342 6  -  By R SIVANITHY JOINT Asian Derivatives Pte Ltd, a company set up by the Singapore Exchange (SGX) and the Chicago Board of Trade (CBOT) to launch a Joint Asian Derivatives Exchange (JADE) later this year, has signed a memorandum of understanding
      342 words
    • 268 6 WBL Corporation (WBL) has finally decided to delist subsidiary Wearnes International (1994) Ltd (Wearnes) from Sesdaq and will call an extraordinary general meeting of the latter's shareholders to get their approval for the proposal. But the issue is academic since WBL, which owns more
      268 words
    • 150 6 FOR the second year running, the Singapore Press Holdings Foundation has donated $200,000 to 20 charitable organisations that provide services for needy children and youths. Yesterday, SPH Foundation chairman Tony Tan handed out 20 cheques of $10,000 each to representatives of the beneficiaries
      ALBERT SIM/ST  -  150 words
    • 381 7  -  US$5m acquisition of manufacturing plant and sales assets comes with two popular brands By LEE KIM SIANG SPREADING its regional wings further, mainboardlisted Petra Foods said yesterday it has acquired the confectionery businesses of Nestle Philippines. In an announcement, Petra said it has reached inprinciple
      FILE PHOTO  -  381 words
    • 239 7 SINGAPORE Technologies Electronics Ltd has set up a wholly owned subsidiary, Stelcomms Pte Ltd, through ST Electronics (Info-Comm Systems) Pte Ltd (STEEInfoComm). Stelcomms will concentrate on communications systems for homeland security agencies in the AsiaPacific region. It will partner Lardosa Investment, a Dutch company, in
      239 words
    • 229 7 OCCAM International, a subsidiary of mainboardBsted heart stent manufacturer Biosensors International, is suing US-based Advanced Cardiovascular SyStetfrSlfic (ACS) and the latter's parent, Guidanl Corp, for more than U5526.5 million. Biosensors said in a statement yesterday that Occam which is based in the Netherlands had filed
      229 words
    • 303 7 Reuters NEPTUNE Orient Lines, the world's sixth-biggest container liner, carried 5 per cent more containers on its ships in December than a year earlier, helped by strong trade between Asia and the rest of the world. NOL said in a statement yesterday
      Reuters; FILE PHOTO  -  303 words
    • COMPANY BRIEFS
      • 163 7 EASYKNIT International Holdings said yesterday that Koon Wing Yee has resigned and ceased to be president, chief executive officer and executive director of the company. In December last year, Easyknit, confirming press reports on the inquiry of Hong Kong's Insider Dealing Tribunal on Mr
        163 words
      • 92 7 BIO-TREAT Technology, a wastewater treatment specialist, has clinched a 500 million yuan (S$ 100.5 million) build-operate-transfer project in Suzhou City, Jiangsu Province. The latest project, which involves the construction of a wastewater treatment plant capable of treating up to 150,000 cubic metres of wastewater per
        92 words
      • 69 7 COSCO Corporation (Singapore) announced yesterday that its subsidiary Cosco Shipyard Group (CSG) had secured four contracts totalling US$12.95 million. CSG is China's largest ship-repair group. Cosco expects a positive contribution to its earnings from the contracts announced yesterday but these contracts are not expected to
        69 words
      • 72 7 BH Global Marine, a procurement specialist for marine products, achieved a milestone in its plan to penetrate the China marine market with the acquisition of Yorkshire Marine Offshore and its marine equipment distributorships, agency contracts and China customer contracts for S$700,000. Yorkshire's current order book
        72 words
      • 68 7 VICPLAS International announced yesterday that its 50 per cent owned joint venture company. Forefront Medical Technology, a manufacturer of medical devices, has received the Pioneer Certificate from the Ministry of Trade and Industry for the manufacturer of laryngeal masks. With the pioneer status, Forefront
        68 words
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  • SINGAPORE MARKETS
    • 534 8  -  STOCKS Wall Street's tumble on Friday on earnings concerns echoes in the region R SIVANITHY Senior Correspondent LAST week, it was a case of Japan sneezing and the rest of Asia catching a cold. Yesterday, the cold emanated not from Japan but from
      Source: Bloomberg  -  534 words
    • 129 8 THE takeover offer by shipping magnate Ow Chio Kiat for Singapore-listed hotel and property group Stamford Land closed yesterday with Mr Ow's Maritime Properties securing valid acceptances in respect of 1.754 per cent of Stamford Land's share capital. Meanwhile,
      129 words
    • 56 8  -  by LESLIE YEE AIRCRAFT engineering firm A-Sonic Aerospace has increased its deemed interest in scandal-hit Airocean Group. Last Thursday, a related company of A-Sonic, Janco Strategic Biz, purchased 3.958 million shares of Airocean in the open market, thereby raising its stake from 10.17
      56 words
    • 733 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jan 23 and earlier) Subsantiai No of Price SHAREHOLDING Shareholder/ Buy/ Shares Per -More After Stodc Trans Date Director Sefl HI ShrS fOOO) £000) Stamford Land 23-Jan-06 Ow Chio Kiat *Buy 1400 0.30 *****7 21.14 *****7 21.30 Com Design 20-Jan-06 ProVest
      733 words
    • Article, Illustration
      913 8  -  Compiled by UMA SHANKARI The Ascott Group lan 23 dase;tS rants KIM ENG RESEARCH. Lan 23 RESULTS were slightly below expectation. Earnings fell 19 per cent year-on-year to $41.9 million while turnover surged 86 per cent to $444.1 million, due to smaller exceptional gains. Excluding one-off gains, operating
      Source: Bloomberg  -  913 words
    • 544 8  -  CURRENCIES LARRY WEE Senior Correspondent A WEEK ago. the yen slid when Japan's benchmark Nikkei 225 stock index tumbled, and yesterday in Asia, it was the turn of the US dollar to get punished by a nasty Wall Street sell-off last Friday. Traders said
      Source: Reuters  -  544 words

  • SINGAPORE NEWS
    • 433 9  -  The Republic, along with China, tops survey of 12 Asian countries on that count By MATTHEW PHAN NEARLY all Singaporeans 99 per cent think their country needs to be more inventive, says Eye on Asia, a survey of 4,400 urban Asians in
      YEN MENG JIIN  -  433 words
    • 231 9  -  By CHEN HUIFEN in Qatar MINISTER Mentor Lee Kuan Yew yesterday met Qatar's Second Deputy Prime Minister and Minister of Energy and Industry Abdullah A 1 Attiyah yesterday. Over 45 minutes, the two discussed ways.to strengthen bilateral ties. Mr Lee said he found Mr
      DENNIS THONG/ZAOBAO  -  231 words
    • 300 9 DELIVERY time for overseas packages is now shorter and less of a hassle, thanks to a new express courier service by Sing Post. Speedpost Express, which taps the delivery network of DHL Express, allows for shorter delivery time and pre-Customs clearance. Under
      300 words
    • 396 9  -  Opposition party 'waved objections away' on manifesto By UMA SHANKARI MANPOWER Minister Ng Eng Hen yesterday said that he was "disappointed" with the Workers' Party's response to his comments last week that there were "time bombs" in the opposition party's manifesto. Last Saturday, Dr
      396 words
    • 488 10  -  It's regional hub for various services, Hng Kiang tells Abac delegates By CONRAD TAN SINGAPORE can act as a gateway to Asean for businessmen from outside South-east Asia, by taking advantage of its position as a hub for various services in the region, said
      488 words
    • Article, Illustration
      41 10 Malaysia s King, accompanied by President SR Nathan, inspecting a guard of honour at the Istana yesterday. Tuanku Syed Sirajuddin Ibni Al-Marhum Tuanku Syed Putra Jamalullail is on a state visit at the invitation of Mr Nathan. ALBERT SIM/ST
      ALBERT SIM/ST  -  41 words
    • 255 10 TRANSPORT and communication costs fell 2.2 per cent last year due to lower car prices, according to the Department of Statistics (DOS). On the whole, however, last year's consumer price index (CPI) inched up 0.5 per cent over the previous year.
      255 words
    • 6515 10 UNIT TRUSTS FUNDS AM Amra Assat Mgt (S'pora) Star EiropeEqly!" 0.869/ Star Europe Bond 1.201/ StarEuropeBal 1146/ Star Asian Tger Eqty 1.124/ Stai Asa Bond' 131V Star As*a Balanced 1.065/ Stt Global Technology Fuid'** 0-208/ Mult SI Fd 1.061/ Star Asia Bond(US0) 0.806/ Gfc Mutt) St USD 1.133/ Asia Bond
      6,515 words
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    • 40 10 I- Allianz Global Investors one of world's top five asset management groups AlliailZ (m) I with more than USS1.45 trillion of assets under management. Global investors Souice; Watson Wyatt As at 31 Dwi'mtxi l'iX)4 Sown: As.ii f) lun<: com^nyregn.no *****7169Z
      40 words

  • SMEspotlight
    • 804 11  -  Local firms are increasingly finding the UK an attractive place to invest in, says MATTHEW PHAN MATTHEW PHAN THE United Kingdom is increasingly an attractive place for Singaporean companies to invest in, at least according to UK Trade Investment (UKTI), the British government agency in charge
      804 words
    • 815 11  -  By LEE KIM SIANG TAKING advantage of the tremendous opportunities and rate of growth on the Indian sub-continent, Orient Express Lines Singapore has made the region its primary focus of operations. Incorporated in 2001, the company's main function is to service the feeder activity
      815 words
    • 1533 11  -  By MATTHEW PHAN THE board of directors plays a critical role in the corporate governance of a listed company, and no less important is the. place that independent directors have. How can an SME, which may not have the exposure or professional network of larger
      FILE PHOTOS  -  1,533 words
    • 699 12 SMALL CAPS Company also looking for growth outside obstetrics and gynaecology market. UMA SHANKARI reports MA I N B 0 A R D LISTED Sunray Holdings, which makes medical equipment for women's healthcare, is all set to benefit from an expected increase in
      ARTHUR LEE  -  699 words
    • 925 12  -  By KALA ANANDARAJAH THIS fourth article in this series looks at how a complaint can be initiated by a small or medium-sized enterprise, and touches on the powers of investigation of the Competition Commission of Singapore (CCS). This follows the earlier articles on how the
      REUTERS  -  925 words
    • 370 12  -  By TEH HOOI LING IT has been a volatile past week, with the Straits Times Index and the UOB Sesdaq Index eventually ending a respective 1.5 per cent and 2.6 per cent lower for the five trading sessions to yesterday. Given the difficult trading environment,
      370 words
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  • ECONOMY WATCH
    • 972 13 2005 growth likely to top 9%, driven by surging trade surplus, investment Bloomberg [SHANGHAI] China probably overtook France as the world's fifth-largest economy in 2005 as a record trade surplus and surging investment drove the fourth straight year of more than 9
      Bloomberg; AFP  -  972 words
    • 233 13 Reuters [BEIJING] China's central bank is pushing for wider use of non-cash instruments in 2006 for making small and large payments to meet the needs of the mainland's developing economy, state media said yesterday. "In the first half of 2006, we must set up
      Reuters  -  233 words
    • 795 13 Slew of products offers tailor-made hedging strategies Reuters [HONG KONG] From South Korea to the Philippines, Asian issuers of offshore bonds are increasingly protecting themselves against currency spikes as hedging becomes affordable and financial market volatility increases. Companies in the region have traditionally borrowed
      Reuters; AFP  -  795 words
    • 657 13 Bloomberg [MANlLA] The Philippine budget deficit fell to a four-year low in 2005, raising the prospects of a credit rating upgrade that would help lower the cost of repaying the nation's debt. The shortfall was down to 146.5 billion pesos (554.5 billion),
      Bloomberg; AP  -  657 words

  • MALAYSIA/INDONESIA
    • 855 14  -  It could shake up ownership of redistributive businesses By S JAYASANKARAN in Kuala Lumpur SWEEPING new proposals to increase bumiputra (indigenous Malaysians but largely ethnic Malay) participation in the services sector have sparked concern among the country's business community, including its large foreign investor
      FILE PHOTO  -  855 words
    • 269 14 Bernama [KUALA LUMPUR] Talk is rife that national carmaker Proton may revive an alliance with Mitsubishi Motors after having severed ties in 2004 and two auto analysts said such a move may not be bad after all. "It is likely and there is no harm
      Bernama  -  269 words
    • 2411 14 VOL Jan 23 KM ('000) ASM Realty 1.40 unch 0 Abric 0.30 -0.01 31 ACP Industries 0.66 unch 17 Advance Synergy 0.21 -0.01 62 Adventa .0.27 unch 0 AE Multi.. 0.24 -0.02 89 Affin Hldgs 1.58 -0.01 172 Ahmad Zaki Res 1.19 -0.02 16 AlCCorp 1.11 -0.04 1
      2,411 words
    • 491 14  -  By PAULINE NG in Kuala Lumpur KHAZANAH Nasional is sitting on a large paper gain of nearly HKS4I3 million ($B7 million) a result of its investment in Parkson Retail Group (PRG). Through Pangkor Investments its wholly owned subsidiary in the Cayman Islands Khazanah two-and-a-half
      Source: Bloomberg  -  491 words
    • 355 14 Reuters [JAKARTA] Indonesia's largest telecoms firm PT Telkom wants to hike local fixed-line tariffs by up to 30 per cent and cut national long-distance call rates by 18.6 per cent, a local newspaper reported yesterday. PT Telekomunikasi Indonesia Tbk had put the proposal to the
      Reuters  -  355 words
    • BRIEFLY ASIA
      • 65 14 Reuters [TAIPEI] General Electric Co's consumer lending unit will buy 10 per cent of Taiwan's small private Cosmos Bank for US$B6 million and plans to raise its stake to 24.9 per cent, the two companies said yesterday. The acquisition comes as Taiwan tries to
        Reuters  -  65 words
      • 90 14 AP [KUALA LUMPUR] The Malaysian judiciary is considering changing the way cases are handled so that legal technicalities cannot be used to secure acquittals of criminal suspects or dismissals of civil suits, the chief justice has said. "The aim is to do justice and not
        AP  -  90 words
      • 93 14 Reuters [HONG KONG] CNOOC Ltd yesterday said it plans to pump about 9 per cent more oil and gas in 2006 to help sate China's robust energy demand, as analysts predicted another solid year for the country's top offshore oil and gas producer on the back
        Reuters  -  93 words
      • 75 14 Reuters [TAIPEI] The world's biggest contract maker of laptop PCs, Quanta Computer, yesterday said it will acquire a 40 per cent stake in a Taiwan global positioning system (GPS) firm through a share swap. Quanta said it will become the largest shareholder in Royal Tek
        Reuters  -  75 words
      • 75 14 AFP [KUALA LUMPUR] Malaysia's national oil corporation Petronas yesterday announced that a gas subsidiary will supply liquefied natural gas to Japanese power company Shikoku Electric for 15 years from 2010. Malaysia LNG signed a confirmation of intent with Shikoku on Friday in a deal that will
        AFP  -  75 words
      • 77 14 Bloomberg [KUALA LUMPUR] Public Bank. Malaysia's No 3 lender, said fourth-quarter profit rose 15 per cent as an increase in lending and contributions from fee-biased income countered a rise in bad loans. Net income rose to RM391.1 million (Ssl69 million), or 11.89 sen a
        Bloomberg  -  77 words
      • 76 14 Reuters [BEIJING] China's State Grid Corp, the top power grid operator, forecast an 18 per cent rise in profit this year due to increased electricity sales and transmission, the China Securities Journal said yesterday. The company posted 14.39 billion yuan (552.9 billion) in profit
        Reuters  -  76 words

  • GREATER CHINA
    • 607 15 It suggests China will allow increased exchange rate flexibility: traders Bloomberg, Reuters [BEIJING] China's yuan had its biggest decline since the country revalued the currency last year, suggesting the central bank will allow increased exchange rate flexibility. The currency slid, paring gains made
      Bloomberg,; Reuters; Source: Bloomberg  -  607 words
    • 479 15 Reuters [TAIPEI] Taiwan Premier Frank Hsieh, stepping down with the rest of his Cabinet, issued a warning to President Chen Shuibian yesterday that his policies were not in sync with the wishes of the people. Mr Hsieh, the fourth premier to quit in
      Reuters; AFP FILE PHOTO  -  479 words
    • 480 15 [HONG KONG] The flurry of fund-raising exercises at China Gas Holdings shows no sign of abating, with the mainland-based piped gas supplier returning to the debt market with a 20 billion yuan (Ss4 billion) bank facility, the South China Morning Post quoted
      480 words
    • 443 15 Reuters [TAIPEI] The world's top two contract chip makers, TSMC and UMC, are set to post strong quarterly profits on pre-Christmas demand, and analysts expect stable margins this year on hot demand for consumer gadgets. "We are having a good start in the
      Reuters; BLOOMBERG FILE PHOTO  -  443 words
    • 208 15 [HONG KONG] Managers of state-owned enterprises (SOEs) will be allowed to accumulate shares through new placements as a means to enhance corporate governance and motivate staff performance, the South China Morning Post reported. But their investment must not result in a controlling
      208 words
    • 179 15 Reuters [TAOYUAN, Taiwan] Taiwan's second-largest memory chip maker, Nanya Technology Corp, yesterday reported a sharp 69 per cent drop in quarterly net profit after a fall in chip prices, worse than market expectations. A recovery in the memory chip market appears distant, analysts said,
      Reuters  -  179 words
    • 391 15 Former execs had embezzled at least 592m yuan Bloomberg. AP [SHANGHAI] Guangdong Kelon Electrical Holdings Co. China's biggest refrigerator maker, said a probe found that former executives had inflated sales and embezzled at least 592 million yuan (Ssl 18.4 million). Kelon may have to
      Bloomberg.; AP  -  391 words

  • INDIA
    • 578 16 Talks on oil refining investments seen dominating Saudi monarch's visits Bloomberg [DUBAI] Saudi Arabia, the world's biggest oil exporter, may direct increased output towards China and India as the world's fastestgrowing markets compete for supplies. Saudi Arabia's King Abdullah visits the
      Bloomberg; AFP  -  578 words
    • 344 16 But govt yet to finalise investment rules: official [MUMBAI] Top companies including Tata Power, Reliance Energy, Torrent and Essar Power are planning to set up independent power transmission grids as the government is likely to open the sector for private participation,
      344 words
    • 460 16 The Economic Times [MUMBAI] The opportunities in the Indian infrastructure sector are attracting global investors by the dozen. The latest is a private equity fund, founded by three former senior executives of Morgan Stanley. The fund proposes to invest US$5OO million in the Indian
      The Economic Times  -  460 words
    • 476 16 They seek alliances with broking firms for easy access The Economic Times [MUMBAI] Foreign banks want a piece of the pie in the booming equity business in India. Encouraged by the rising stockmarkets, foreign banks such as Socirale (SocGen), BNP Paribas, Standard Chartered
      The Economic Times  -  476 words
    • 377 16 Bloomberg [MUMBAI] Tata Steel Ltd, India's third-biggest steelmaker, posted a 15 per cent drop in third-quarter profit, its first drop in 18 quarters, as raw material costs rose and competition from China lowered prices. Its shares fell. Profit fell to 7.53
      Bloomberg  -  377 words
  • Page 16 Advertisements
    • 2013 16 >AT^ €0 NOTICES BUY IT- SELL IT FIND IT IN THE MATTER OF THE COMPANIES ACT, CHAPTER SO AND IN THE MATTER OF LABACO PTE LTD (Co. Reg. No. *****5394E) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of Labaco Pte Ltd duly convened and held on
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  • ASIA-PACIFIC/WORLD
    • 506 17 Expected deal would help Toshiba tap China's US$54b nuclear reactor project Bloomberg [TOKYO] Toshiba Corp will acquire British Nuclear Fuels pic's (BNFL) Westinghouse Electric Co power plant unit for almost US$5 billion, the Financial Times said, citing a person close to the talks. A
      Bloomberg  -  506 words
    • 451 17 LATEST US DATA Bloomberg [WASHINGTON] An index of US leading indicators released yesterday pointed to a slower pace of economic growth in three to six months. The Conference Board's index for December rose 0.1 per cent after November's revised 0.9 per cent increase. Economists
      Bloomberg  -  451 words
    • 165 17 Reuters [TOKYO] Japanese police raided the offices of Yamaha Motor Co yesterday after the government filed a criminal complaint' against the company over its sale to China of small helicopters that officials said could have military uses. Japan has repeatedly expressed concern
      Reuters  -  165 words
    • WORLD WATCH
      • 68 17 Reuters [NEW YORK] Earnings projections for top companies are dropping as more fourth-quarter profits are reported, with basic materials and telecommunications industries now expected to turn in the worst performances. With 100 of the S&P 500 companies having reported earnings thr6ugh Jan 20,
        Reuters  -  68 words
      • 126 17 [LONDON] Terry Smith, head of moneybroking giant Collins Stewart Tullett, would be interested in spearheading a buyout of the Financial Times if it was put up for sale by parent company Pearson, says a report in the London Sunday Observer. Mr Smith's
        126 words
      • 131 17 Reuters [NEW YORK] US No 2 grocery chain Albertson's Inc is close to approving a deal to be bought by a consortium in a cash-and-stock deal worth around US$9.6 billion, a source familiar with the matter said on Sunday. While a deal was expected
        Reuters  -  131 words
      • 95 17 Bloomberg [TOKYO] Lloyd George Asset Management Group, a Hong Kong-based investment firm with more than US$ll billion of assets, said it opened its first office in Japan as a step toward boosting investments in the nation fourfold to US$2 billion within two years.
        Bloomberg  -  95 words
      • 123 17 Reuters [NEW YORK] Cal Dive International Inc yesterday said it had agreed to' acquire Remington Oil and Gas Corp for US$l.4 billion, paying a premium of more than 20 per cent for access to oil and gas properties in the Gulf
        Reuters  -  123 words
    • 575 17 Reuters [TOKYO] Like high-tech warriors armed with notebook PCs, cell phones and fresh ideas, Tokyo's "Hills Tribe" of young entrepreneurs sweep down on a complacent corporate empire, wreaking havoc but creating a dynamic "New Japan". .That, at least, was how some
      Reuters  -  575 words
    • 270 17 Reuters [SINGAPORE] Merrill Lynch has poached Shamus Hassan, a dealmaker for Morgan Stanley, to head its Asia resources investment banking, the latest in a series of high-profile defections from the bank in Asia, a person familiar with the matter said yesterday. Mr Hassan is
      Reuters  -  270 words
    • 505 17 He also defends firm's anti-takeover provision Reuters [LONDON] Rupert Murdoch said on Sunday News Corp needed to do more to take advantage of strong growth in global broadband and Internet use, and defended the media conglomerate's controversial anti-takeover provision.
      Reuters  -  505 words

  • AVIATION
    • 481 18  -  Well-developed infrastructure and professional workforce key selection factors By YEN SREENIVASAN [SINGAPORE] Engine and turbine systems specialist Rolls-Royce has opened a regional procurement headquarters in Singapore to handle the management of suppliers in South Korea, Taiwan, Malaysia, India and Singapore. The move to
      FILE PHOTO  -  481 words
    • 529 18 Bloomberg [NEW DELHI] The shares of Jet Airways (India) Ltd, the nation's biggest domestic airline, fell to their lowest in more than two months after profit declined for a second straight quarter. The shares plunged as much as 8.9 per cent,
      Bloomberg  -  529 words
    • 168 18  -  By YEN SREENIVASAN [SINGAPORE] Qantas-controlled Jetstar Asia touched down in Bangalore yesterday, making it the first foreign low-cost carrier to fly to the Indian IT hub in Karnataka. Jetstar will operate four flights a week between Changi and Bangalore's International Airport using its A 320 aircraft.
      168 words
    • 221 18 Bloomberg [ROME] Alitalia SpA, Italy's biggest airline, may be forced to cancel or delay about 250 flights as workers stage a fifth day of protests over longer shifts and decreasing job security. The airline said the disruptions to about a third of
      Bloomberg  -  221 words
    • 508 18 But Bali bombings, high oil prices erode earnings AFP [JAKARTA! Struggling Garuda Indonesia said its losses narrowed in 2005 due to improved cost efficiencies but earnings were hard-hit by bombings on Bali and high oil prices. The flag carrier's losses declined 17.14 per cent
      AFP  -  508 words
    • 557 18 SH RJfHT fTA PyCNT |T0 AUMmW IV5D1A 1735 m i?8 $0442 2000 i«! gg bngtlort 0750 isgrar jjj j J lllij HH lljjj III Cap* Town 5QI7rT5705 GK MI5M 1918 MI5M 0905 Owwad. OW 0M0 0404 OW m 13S m {Kmc WW 2355 UAB96 0H5 W
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  • Page 18 Miscellaneous
    • 194 18 CRYPTIC CROSSWORD DOWN the first (8) Across: 1 Long jump, 5 Boxcar, 8 1 Deny a saying is wrong (7) 16 Hired veh J cle u th L at a^ s Buyout, 9 Intended, 10 l^nneret, 2 A possessive type (5) comes Wlth a backseat driver 1 Twinge 12 Sanserif,
      194 words

  • SHIPPING
    • 669 19 There are fears ailing sector would go under if govt imposes new curbs AFP [ALANG, India] India's struggling shipbreakers fear doom for their industry if tighter environmental laws are introduced in the wake of the controversy over an asbestos-laden French aircraft carrier. A
      AFP  -  669 words
    • 385 19 Container volume up 19% to record 16.2m TEUs Bloomberg [HONG KONG] Shenzhen handled a record number of containers in 2005, keeping its ranking as the world's fourth-busiest port, after rising trade increased cargo shipments through the southern Chinese city. Hutchison Whampoa Ltd, China
      Bloomberg  -  385 words
    • 351 19 AP [LONDON] Some passengers on the Queen Mary 2 cruise ship are threatening not to get off the ship at its next port of call to protest a last-minute change in the itinerary, the vessel's operator said on Sunday. The ship, the world's largest and most
      AP  -  351 words
    • 409 19 Reuters [SYDNEY] Australia's biggest port operator. Patrick Corp Ltd, said it would seek to break up its Pacific National rail business with Toll Holdings Ltd, saying the 50:50 joint venture had become "dysfunctional". Patrick said yesterday it would make an application to the
      Reuters  -  409 words
    • 273 19 *000 J—23 St +<■ Vol CH Offshore -038 -0.01 176 Chum Hup 0.38 -0.01 2589 Coico Corporation 1.15 -0.01 7382 CWT Distribution .0.83 -0.01 26 EzraHldgi 1.71 unch 1891 Freight Unto .006 0.01 700 Grand Banks Yacht 0.91 unch 23 JayaHoklingi 1.24 -0.02 619 K1 Venture 032 -0.01
      273 words
  • Page 19 Advertisements
    • 59 19 JVR, "II I 1 ri' "IHI rII i II rum 1 II 111 i N Him HI WiiPir i IH| 1 I I I 7 Get a Leading Edge i Your sailing schedules get wider attention inThe Business Times shipping pages Call Bernard Ong at 6319-1645 or Michael Chng at
      59 words

  • EDITORIAL & OPINION
    • 526 20 EDITORIAL ONE of the world's leading management consultancy firms, McKinsey Co, listed what it described as "some facts and predictions to make you think" in its quarterly e-newsletter. Take computers, for instance. The computational capability of an Intel processor, as measured in instructions per second
      526 words
    • 735 20  -  THE BOTTOM LINE THANG NGUYEN THE huge numbers of new shopping malls, apartment buildings and hotels being built in Jakarta and other big cities in Indonesia may give the impression that the investment climate in the country is improving. In turn, this also gives
      735 words
    • 1066 20  -  The Bushies 'did Iraq' because they could and nobody can force US troops to withdraw yet LEON HADAR Washington Correspondent Americans overwhelmingly lack confidence that Iraq will have a stable government in place within the next year, and more than half
      REUTERS  -  1,066 words
    • 1422 21  -  By MANJUSHA DEVI in Bangkok THAI LAND'S worst-kept secret was revealed yesterday when Singapore's Temasek Holdings said it will acquire a majority stake in Shin Corp pic and aims to synergise the group's operations. Cash-rich Temasek is buying the 49.6 per cent stake from the family
      AP; AFP  -  1,422 words
    • 239 21  -  LETTERS TO THE EDITOR Ong-Chew Peck Wan, Lim Bee Khim WE refer to the commentary dated Jan 18, titled "Singapore may well have missed chance for best IR", by Wong Wei Kong. The commentary noted the companies that have decided not to bid
      239 words
    • 535 21  -  Narayana Narayana Singapore YOUR article, "CityDev should cast more light on IR race pullout" (BT, Jan 19), ends on the egregious note that "CDL should provide its shareholders a more in-depth explanation on why it is pulling out of bidding for
      535 words

  • Page 21 Advertisements
    • 29 21 J Get a Leading Edge Your sailing schedules get wider attention in The Business Times shipping pages Call Bernard Ong at 6319-1645 or Michael Chng at 6319-2062 SHIPPING TIMES
      29 words
    • 102 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to bttetteresph.cofn.sg or write to: The Business Times,SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel laws.
      102 words

  • 10107 22 SGX MAINBOARP T* UM Vol Oey UnQuata Grt* 0* &YW MM MCja low Cod* Caapny l»* CB80I W» Law B»m M» Cw W W 1 3 5716 1stsoftware5c J5 umh 30 2.S 2.1 75 3 141 21 t 3148 BTel«omOS2c 71 .05 656 7 5 7 7 75
    10,107 words

  • 6044 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES t* Iau4 arr US] MUSS y *«Jy *i» dy %yi lan 20 lnd«» Chang* Ownn» Oury Change Chtwg# Ofnqt IteHWtWteMWW MM -<17 111 -09 9.7 -Q7 10,1 I EAfE Preftninaqr 9754 43 262 -06 133 -04 138 Europe Preliminary t395i< 223 -09 96
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  • Page 24 Advertisements
    • 1017 24 am lo «»j SBfc j 3»\ 1 NYK GROUP SOUTH ASIA PTE LTD IP AflM r»> g? |T TEL 6295 0123 IV Jl Aune WHPgdf M 3 II LINE Fax: 6292 2856 (Regiona) sales) 6239 7109 (OPS)/ 6299 5786 (Documentation) NIPPON YUSEN KAISHA TOKYO SO»*KU KASHA. (JO (C/R NO: **********0E)
      1,017 words
    • 736 24 vßsa/vor iMrgti) hbgwto) m koi La jkt STtAITS VENTURE 02/06 IS 3.2 23/01 26/01 31/01 03/02 05/02 STRAITS VENTURE 03/06 IS 31 07/02 10/02 I snum txmss tiw 30 4.1 14/02 I I IWfK> HPVKE VBSa/WT RAMPQtT) I WOHTPUI IP [HI IMB STD MB APE HB JKT ISWI la SUUIN
      736 words

  • Page 25 Advertisements
    • 887 25 JJ WE CARRY, WE CARE. WAN HAI LINES LTD, having the most intensive m iiAn. i Jjjpp and complete service network for ocean carriage, HfeHk*» s* from Asia-Pacific to Mid-East, U.S West Coast, y J Europe expanding continuously throughout every 1 '*<*C\isK s P t in the world; providing the
      887 words
    • 1063 25 HBSft Wll JIIIBIiinHHIS vtssa w_ JKT SHI WG US* PUS Iff WW !iL W.JW J/I_ WWW KMTC SJNGAPOtf MIS "w/T 1/2 7J7 1/T 11/2 17/7 |HTWADWOSIW |I7IS 4/2 9/2 11/2 13/? 15/2 IS/? IMTCJAKAHA tOTS ~S/T 1/7 9/2 "M/T lt/2 19/2 ®sa VOT Si IS* JEA VESSa W Si hug
      1,063 words
    • 832 25 S<S3S& WEEKLY EXPRESS SAIUMG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS vgsn voy sm pjoanglcoiombo n. sheva Colombo IBDMA 6ANDHI OlOWf 25 MM OMIT 30 iAN 0?FB 05 FB liffiiMUHll OIW 30 JAM 31 UN 03FH 06 Ftl Mftl Mttraim Timm 06fB 07fn 10pa nm itm HOWItAH
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 5619 26 This ETA ETA Advertiser Vessel Voyage Telephone SM Desfn Name Mane Number Number To ABIDJAN (ABJ) 2003 Cote D'lvoire ***** 07/03 China Shpg CMA CGM KALAMATA SX209W *****898 06/02 05/03 Delmas DELMAS T0URV1LLE 611W *****344 14/02 13/03 Delmas URSULA DELMAS 612W *****344 21/02 19/03
      5,619 words
  • Page 26 Advertisements
    • 415 26 VESSEL VOY SIN PCU VESSEL VOY SIN JKT PAC jANDA 165JM 24/01 24/01 PAC MNTAN <334 21/01 24/0) lANDA 1652H 25/0] 26/01 MCWU "/01 26/01 CSf 2301 0230P 26/01 27/01 PACHNTAN 9335_ 21/01 04/02 PAC BANPA 1653N 27/01 27/01 BBU jSI M— 843 PAC lANDA 06S4N 28/01 28/01 "(E? 06/02
      415 words
    • 486 26 Ml IVISSII Ivor I PKI I SIN I KARACHI PX» RAI WHS PMM MC I KHOR MAN SHAHRYAR PCI till 29/01 28/01 07/02 10/02 11/02 17/02 20/02 23/02 KAN KAABAEI PCI Sll9 05/02 06/02 IS/02 11/02 19/02 25/02 2S/02 02/03 IRAN KORDtSTAN PCI $120 13/02 14/02 23/02 26/021 27/02 05/02
      486 words
    • 323 26 BSA jl MYANMA VBn FIVE STAR LINE (Myanmar National Line) Loading for Yangon Vissa VOY SIN PKI PEN PGU CHIN SHWE HAW 90W SID PAGAN 349W SU) IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUL/PKL: 03-*****388 PEN: 04-*****15 ACCEPTING CONVENTIONAL CBO VESSEL VOY HKG SM PKI KCH TM ITU SDK TWU OONMOUra
      323 words


  • PROPERTY
    • 760 28 Move by shopping centre firm signals another step for Thailand's fledgling Reit market Reuters [BANGKOK] Thai shopping centre firm Central Pattana pel plans to sell three Bangkok office blocks into a listed property fund worth at least US$l3O million as it adopts an "asset
      Reuters  -  760 words
    • 291 29 SEB-Immoinvest sees withdrawals of 100m euros in one day AFP [FRANKFURT] The snowballing crisis in the German open-ended property fund sector appears to have claimed another victim, with SEB Immobilien-In-vestment saying yesterday that one of its funds had also seen heavy withdrawals last
      AFP  -  291 words
    • 706 29 Bloomberg [HONG KONG] Henderson Investment Ltd shares had their biggest one-day decline in more than eight years after shareholders last Friday vetoed a buyout offer from its parent, Henderson Land Development Co. Shares in Henderson Investment a real estate, gas and hotel investor
      Bloomberg  -  706 words
    • 444 30  -  Vivienne Tan is said to be retiring after 14 years with the group By KALPANA RASHIWALA CENTREPOINT Properties' retail stalwart Vivienne Tan is leaving the property group after 14 years. Ms Tan, who is in her fifties, is officially said to be retiring. She
      FILE PHOTO  -  444 words
    • 402 30 JONES Lang LaSalle (JLL) has made two key appointments. Former Singapore country head Terence Tang has returned to the fold, this time to head the group's investment sales business for the whole of China, and academic Chua Yang Liang has taken up the post
      402 words
  • Page 28 Advertisements
    • 205 28 1 g January to 12 February 20 0 6 Festivtf 1 Lunch Daily 12noon 2.30pm Adult $26.80+++ Child $18.80+++ Adult 3^hlld 3 518.80-M.+ HOTEL PHOENIX Weekend 3.30pm 5.30pm Adult $21.80+++ Child $15.80+++ ChineseNewYear Fest Js£Pz ner •mmtmj Adult $29.80+++ Child $20.80+++ rPStIDP II 1 ITTPT 29A30Jan) JL CJ L> l
      205 words

  • Page 29 Advertisements
    • 314 29 THE VERMONT For Sale By Tender \\v\ A*mm Prime freehold residential /V redevelopment site M***" Approximately 40,375 sq ft Plot Ratio 2.8, up to 20/ storey short walk to Newton MRT Newton Food Centre J Near good schools and amenities J Close to Orchard Road /Grand\ I hatm«d» \x\ t
      314 words
    • 337 29 I im I llMvi B%—l- ——1,- m M l jMijri ueDennam 5 fmm Itla Lmina 2 111 Tie LUXURIOUS FREEHOLD RESIDENTIAL SITE NEAR ORCHARD TURN NO. 18 ANGUUiA PARK Site area 4,155.7 sq m (44,731.5 sq ft) Exclusive neighbourhood ati 36 storeys Walking distance to Orchard MRT Station 1 consensus
      337 words

  • Page 30 Advertisements
    • 469 30 j f l Freehold Residential Site I P"fca I H 111 0 I I I I I I I I I II Scianca Park University of Singapora Site Area: 63,707 sq ft (approx) p r <o, Plot Ratio: 1.4; up to 5 storeys Walking distance to Pasir Panjang MRT station
      469 words
    • 31 30 <y^pr_j 50% off Seafood Steak Combo Main Courses y.iii'l until I rlj 1 y. <J. h nrr K .< >< k i;t" ji -ipfl/ Only when you charge to your Diners Club Card.
      31 words
    • 24 30 Vm V H K Kl I PI mm* H Fi^Bi^H9Bß ■B Pk!^P» r 8 s < 1' f"* 1 v --V s i *'i JP
      24 words