The Business Times, 3 February 2006

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Total Pages: 30
1 30 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 089/03/2005 Friday, February 3,2006
    15 words
  • 662 1  -  Headcount of msyor players surged 15-20 per cent last year By LESLIE YEE [SINGAPORE] Singapore is riding Asia's wealth creation wave to reinforce its position as a global wealth management hub. The headcount at leading private banks here surged 15-50 per cent last
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  • 523 1 But possible breaches of disclosure laws still being investigated By OUR CORRESPONDENT in Bangkok THAILAND'S Securities and Exchange Commission (SEC) has cleared the children of Prime Minister Thaksin Shinawatra of in-sider-trading allegations over the sale of Shin Corp shares to investors led
    523 words
  • 136 1 STI 2,***** (+9.65) ST INDEX FUTURES 2/445.00 (+9.00) SIMSCI 289.51 (+0.91) SIMSCI FUTURES 289.70 (-0.10) MARKETS Thursday Change KLSE COMP Closed NIKKEI 225 16,710.55 +230.46 HANG SENG 15,691.69 -50.61 SET INDEX 744.54 -15.82 JAKARTA COMP 1,243.39 +2.70 MANILA COMP 2,159.37 +15.85 SEOUL COMP 1,374.44 -1.53 SHENZHEN B Closed
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    • 54 1 SIA profit beats jj(iMt.M** analys ts'estimates pgs J^Hk, ig^K tw' "^"J^f^. ■rJFWk OKm f jr- tkl '-j/A ,-X^H jjl| •y* 1 ;i. IN HERITAGE THEY TRUST IWhy restaurants, bars and hotels in conservation buildings make good business sense pg 27 COMMENTARY Enronsare inevitable, no thanks to free enterprise pg 18
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    • 156 1 ramCH RAMI v&ofeafa/ "Passione" The Mille Migtia For (a race from to Rome the strategy was to as as for as as possible. Established history glittering the challenge for both drivers and their the is simply la cona mondo the greatest race the has been its official Many automobile fine
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  • TOP STORIES
    • 742 2  -  COMMENTARY HK's niche is in investment banking, but synergies between the cities are becoming increasingly evident LESLIE YEE Senior Correspondent AS WE are into the lunar Year of the Dog, the time has come to debunk the notion that Singapore and Hong Kong
      742 words
    • 405 2  -  Weaker new-orders growth pulls down electronics PMI in January By ANNA TEO [SINGAPORE] Weak electronics demand in the wake of seasonal year-end ramp-ups weighed on the purchasing managers' index (PMI) in January. And indications are that a quick recovery in electronics demand this
      Soorce: SIPMM  -  405 words
    • 574 2  -  Fears that consumers may not be well protected By GENEVIEVE CUA [SINGAPORE] Some insurers are calling for regulations to govern the secondary sale of Singapore insurance policies to companies who snap them up for investment. Recently, a new company, Cash4Policy, has
      574 words
    • 548 2 Foreign funds inflow boosts S'pore stocks FUND managers say that the Singapore market is benefiting from an increased net inflow of funds into equities in Asia ex-Japan. The figure for January is estimated to have been more than 50 per cent higher than last year's average. TOP STORIES,
      548 words
    • 531 3  -  By ARTHUR SIM [SINGAPORE] Singapore's DP Architects has won the contract to design Mumbai's new international airport, making up for some of the disappointment registered when Changi Airport Managers and Partners dropped out of the race for the sister airport at
      531 words
    • 483 3  -  January figure estimated at over 50% higher than average for 2005 By LESLIE YEE [SINGAPORE] Fund managers say the Singapore market is benefiting from an increased net inflow of funds into equities in Asia exJapan. The figure for January is estimated to have been
      483 words
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    • 47 2 fi 1 fin I fi i^JLBP SJ^^H^hh iii 11 a w"\ ■BH^IiII^JHHBHHHHIII^HHH^HHiHHHIII^^^Hi^HH^^BHi BOOKS IN THE INTERNET AGE Libraries must complement rather than fight the Net by providing responsive and trusted information. 9 Dr N Varaprasad, chief executive of Singapore's National Library Board, in The Raffles Conversation tomorrow
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    • 168 3 rit i* I Picture is for illustration purpose only v ■■u\.gf»~ -.r -»w/'r7;'-«•*•, •r^-":*ri'\ T^' "rrr.r Tv 7~ rr?""" t .-V' V V j 5 vj '"itf Everything you are today is a result of how youVe handled life's challenging journey. Now more than ever, isn't it time for yourtc
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  • COMPANY NEWS
    • 714 4  -  AGM today in Suntec City may turn out to be an explosive session By ICHELLE QUAH A POTENTIALLY explosive meeting which could thrash out long-standing, unresolved questions about China Aviation Oil's future is set to take place today as shareholders meet CAO's management
      714 words
    • 618 4  -  HOCK LOCK SIEW By CONRAD RAJ Troubled aviation fuel dealer China Aviation Oil is holding its annual general meeting today, ahead of a later extraordinary general meeting to seek approval from its shareholders for its restructuring plan. Unfortunately, The Business Times and the other
      618 words
    • 211 4  -  FUND RAISERS By OH BOON PING SHIPBUILDER ASL Marine is aiming to raise $19.75 million through a placement of 30 million new shares at 68 cents each. The new shares, to be placed through Kim Eng Securities, represent about 13.74 per cent
      211 words
    • 430 4  -  By OH BOON PING ADDVALUE Technologies has entered into an option agreement with Telenor Satellite Services (TSS) that could potentially make TSS its single largest shareholder, with a 14.9 per cent stake. TSS is a subsidiary of Telenor ASA, a Norwegian
      430 words
    • 426 4 Bloomberg SHARES of Singapore Exchange Ltd rose to a record on expectation that an increase in trading will boost earnings. The stock rose 22 cents or 6.8 per cent to $3.44 at the close of trade, the biggest one-day gain since July
      Bloomberg; FILE PHOTO; Source: Bloomberg  -  426 words
    • COMPANY BRIEFS
      • 80 4 MAINBOARD-LISTED Man Wah Holdings, a home furnishing group specialising in leather sofas, secured more than US$9.B3 million in sales orders from its participation in IMM Cologne 1 furniture fair held last month in Cologne, Germany. For perspective, Man Wah said the orders represent
        80 words
      • 94 4 IT services company Armarda Group yesterday issued a profit guidance, saying that while it is expected to remain profitable for the full year of FY2005 ended Dec 31, the net profit is expected to be lower than in the previous year. Giving the same reasons it
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      • 129 4 BEVERAGE giant Fraser and Neave's wholly owned subsidiary Times Publishing has acquired Sharp Fine Worldwide for 61:6 million yuan (S$ 12.5 million), which will be fully payable in cash upon satisfaction of post-completion conditions. F&N said the acquisition will be funded from internal resources. The
        129 words
    • 818 5  -  But $397 m earnings are 15% below previous Q3's $465 m Reports by VEN SREENIVASAN SINGAPORE Airlines (SIA) confounded sceptics and surprised the market yet again with another set of better-than-expected results yesterday. The world's second most valuable airline by market capitalisation unveiled a net
      ARTHUR LEE  -  818 words
    • 267 5 SINGAPORE Airlines' board has renewed the service contract of its chief executive officer, Chew Choon Seng, for another three years. Mr Chew's term of service under his current contract expires on June 8 this year. He was appointed CEO when his
      FILE PHOTO  -  267 words
    • 459 5  -  By CONRAD TAN MEGHMANI Organics, an India-based manufacturer of pigments and agrochemicals, yesterday reported a 57.1 per cent rise in its third-quarter net profit, on the back of much stronger export revenues. The company posted a net profit of 81.7 million
      459 words
    • 367 5 INFORMATION technology products distributor Ban Leong Technologies is looking to establish a presence in China with the help of Chinese partners. The mainboard-listed company has entered into two joint venture agreements. Under the first agreement which was signed with Yan Zhe,
      367 words
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  • SINGAPORE MARKETS
    • 537 6  -  STOCKS China plays in focus as second line sees real action in volatile session R SIVANITHY Senior Correspondent WITH liquidity running high and plenty of stories floating around the market to keep traders glued to their terminals, it is a sure bet that volatility, too, will
      Source: Bloomberg  -  537 words
    • 70 6 VISION Capital, which became a substantial shareholder of recently-listed Oniontech about a month ago, has further boosted its stake in the software solutions provider. On Jan 26, Vision Capital bought 1.86 million shares in Oniontech on the open market at an undisclosed
      70 words
    • 133 6  -  By NANDE KHIN CHIU Choon Piah has pared his stake in Metal Component Engineering (MCE), the company he co-founded. In a filing to the SGX yesterday, MCE said that Mr Chiu transferred one million shares to his immediate family on Wednesday. This brought his
      133 words
    • 756 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Feb 2 and earlier) Subsantial No of Price SHAREHOLDING Shareholder/ Buy/ Shares frn Before After Stock Trans Date Director Sefi '000 ShrS C000) ('<XX» Metal Comp 1-Feb-06 Heng Hock Liang ST 3000 na ***** 10.43 8737 7.77 Multi-Chem 1-Feb-06 Han Juat
      756 words
    • Article, Illustration
      968 6  -  Compiled by MATTHEW PHAN Asia Dekor Feb 2 dose: 14 cents SBt E2-CAPITAL, Feb 1 ASIA Dekor is a fully vertically integrated producer and distributor of laminated wood flooring products. Products are marketed under the Power Dekor brand, which has been ranked by the China Industrial Information Issuing Centre
      Source: Bloomberg  -  968 words
    • 539 6  -  CURRENCIES LARRY WEE Senior Correspondent METAL prices may be nudging record highs but they continue to push higher, and selling the yen in favour of base and precious metals continued to provide some of the most exciting moves in Asian financial markets yesterday. After
      Source: Reuters  -  539 words

  • COMPANY NEWS
    • 386 7  -  WBL asked shareholders to take part in an online survey By LESLIE YEE THE Securities Investors Association (Singapore) has given the thumbs-up to WBL Corporation's move to get shareholders to take part in an online survey. The survey asks shareholders what they think of the
      Ihe Business Times, February 2,2006  -  386 words
    • 808 7 Fees may fall and some smaller funds may close: analysts -Reuters NEW rules governing mutual funds' access to Sslos billion in pension savings are set to shake up Singapore's high-cost funds market, with fees likely to fall and some smaller funds squeezed
      -Reuters; FILE PHOTO  -  808 words
    • 337 7  -  By NANDE KHIN NOBLE Group has bought a stake in Jordan Grain Handling and Milling Company from US food company ConAgra Foods. The Singapore-listed global supply chain manager said in a statement yesterday that it purchased ConAgra's entire equity interest in Jordan Grain. But
      337 words
    • 479 7 SEVERAL analysts yesterday called a "buy" on Macquarie MEAG Prime Reit following its better than expected results, attractive yield and cheap share price. "MM Prime Reit offers attractive yield of 5.8 per cent based on FYO6 forecast distribution per unit
      479 words
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    • 34 7 ARROW U S A 1 8 5 1 \d ml lift •^y\einini)i C/(•//«■/{<■ /t Now Open Men's and Ladies' Fashion Boutique Scotts Shopping Centre #02-10/ 11 Tel: *****619 Free 3-piece Handkerchief with Any Purchase
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  • SINGAPORE NEWS
    • 756 8  -  NEWS ANALYSIS Analysts see it building land bank, looking for more marquee projects By ALEXANDRA HO AMBERVILLE, a privatised HUDC estate in Katong that property heavyweight Far East Organization bought for $183 million last month, may turn out to be the group's
      FILE PHOTO  -  756 words
    • SINGAPORE ROUNDUP
      • 55 8 SINGAPORE is hosting the MFA-Wisma Putra Games this weekend which will see teams from Singapore and Malaysia in friendly sports competition golf, tennis, badminton, soccer and bowling. Foreign Affairs Minister George Yeo and his Malaysian counterpart, Syed Hamid Albar, will lead their respective sides
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      • 46 8 DEFENCE Minister Teo Chee Hean will be attending the 41st Munich Conference on Security Policy, which starts today and ends on Sunday. He is expected to hold bilateral discussions with German government leaders, including the defence minister, Franz Josef Jung.
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      • 48 8 THAILAND'S chief of armed forces, Ruengroj Mahasaranond, yesterday called on Defence Minister Teo Chee Hean at the Ministry of Defence. The general is on a three-day visit to Singapore, ending tomorrow, at the invitation of Chief of Defence Force NgYat Chung.
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    • 6216 8 UNIT TRUSTS FUNDS AIM Antra Asset Mgt (S'pore) Star Europe Eqly!" 0.902/ Star Europe Bond 1.191/ Star Europe Bal 1164/ Star Asian Tiger Eqty 1.178/ SI* Asa Bond 1.302/ Sta Asia Balanced 1.087/ Star Global ethnology Fund'** 0212/ Mult) St fd 1053/ Star Asia BondlUSD) 0802/ ObMuttiStUSD 1.144/ Asia Bond
      6,216 words
    • 487 9  -  PAILLART CASE Share issue was for the purpose of having quorum to remove Paillart By WONG WEI KONG TWO directors of Earth Science Industries (ESI) who called for an extraordinary general meeting (EGM) to oust former DBS CEO Philippe Paillart as a
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    • 459 9  -  By CHEN HUIFEN HOMEGROWN stem cell therapy firm Cygenics has expanded its research activities to Europe, with its participation in the Pacrima project a collaboration of five research organisations from four countries. Pacrima, which is an acronym of the names of all the
      FILE PHOTO  -  459 words
    • 270 9 NUS opens Bangalore college, its sth overseas NANYANG Technological University (NTU) plans to send up to 50 students to India by year-end to work with top science and tech companies there. The university aims to make itself Singapore's leading centre
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    • 218 9 THE Infocomm Development Authority of Singapore (IDA) has appointed six new board members to replace five who have stepped down. The new board members are Frank Allan Brown, director of Colorzip SEA, who is also on the board of the Media Development Authority and
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    • 226 9 THE National University of Singapore (NUS) has made it to the top 100 in a worldwide ranking of universities for their full-time MBA programmes. In the latest Financial Times (FT) MBA ranking, NUS came in 92nd in a list topped by
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    • 505 9  -  By GENEVIEVE CUA INSURANCE sales surged in the final quarter of 2005, but the spurt still failed to propel the industry's new business growth. The quarter's sales of single-premium policies were 19 per cent higher than in the comparable months
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    • 1612 9 NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP. 50, 1994 ED) AND IN THE MATTER OF SCEC MAINTENANCE (S) PTE LTD (In Members' Voluntary Liquidation) (Company Reg. No. *****1345 C) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act (Cap. 50,1994
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  • ECONOMY WATCH
    • 804 10 Indian stocks due for correction while China is starting to look attractive Reuters [HONG KONG] China and India are the world's hottest major economies, but their stock markets have been moving in opposite directions. After four years of gains, India has become the most
      Reuters  -  804 words
    • 958 10 Bloomberg [WASHINGTON] Ben Bernanke on Wednesday took over as chairman of a Federal Reserve Board that is already leaning towards higher interest rates. The US central bank raised the benchmark lending rate to 4.5 per cent on Tuesday, the 14th consecutive increase, and
      Bloomberg; REUTERS  -  958 words
    • 701 10 They welcome Bush plan to boost R&D, warn of threats to economic leadership Reuters [WASHINGTON] US manufacturers on Wednesday flagged growing threats to American leadership in innovation and manufacturing but said President George Bush's latest proposals to boost research spending and science
      Reuters  -  701 words
    • 192 10 Reuters [BANGKOK] Thailand's Finance Ministry may give overseas firms permission to issue baht bonds in mid--2006 to help double the bond market's value over the next five years, the Thai Bond Market Association (TBMA) said yesterday. "Our bond market needs more development. We
      Reuters  -  192 words

  • MALAYSIA/INDONESIA
    • 584 11 Alliance details to be unveiled today but no equity stake is involved Reuters [KUALA LUMPUR] Malaysian car maker Proton and Japan's Mitsubishi Motors Corp (MMC) revived their old alliance yesterday as Proton looks to recover from losses and the breakdown of a joint venture
      Reuters; AP  -  584 words
    • 235 11 [JAKARTA] State-owned PT Telkom, Indonesia's largest telecommunications company, announced on Wednesday it had jointly set up a new business venture with the central bank to provide financial network services to the banking industry, reports The Jakarta Post. Telkom said in a statement
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    • 225 11 AFP [JAKARTA] Indonesia's economic growth is forecast to accelerate in 2007 to more than 6 per cent after clocking in at 5.1-6.0 per cent for this year and 2005, a central bank survey released yesterday showed. Growth in South-east Asia's largest economy has
      AFP  -  225 words
    • BRIEFLY ASIA
      • 83 11 AP [HONG KONG] Conglomerate Hutchison Whampoa Ltd may further delay listing its Italian third-generation mobile phone unit in Milan if regulators fail to approve the deal in two weeks, a news report said yesterday. 3 Italia SpA, which is 94.5 per cent owned
        AP  -  83 words
      • 69 11 Bloomberg [HONG KONG] Hong Kong property sales, mainly of apartments, dropped more than half to a two-year low in January, according to statistics released yesterday by the Land Registry. The value of residential, office and industrial units changing hands last month was HK$l4.4
        Bloomberg  -  69 words
      • 51 11 AP [TAIPEI] A Taiwanese official yesterday said the island had no immediate plans to scrap guidelines on unification with China, despite President Chen Shui-bian's suggestion to the contrary. In remarks on Sunday, Mr Chen suggested it was time to consider doing away with the
        AP  -  51 words
      • 61 11 AP [JAKARTA] Indonesia's parliament yesterday unanimously endorsed plans to name Djoko Suyanto chief of the country's powerful armed forces, a lawmaker who headed the hearing said. Mr Suyanto, who currently heads the air force, told parliamentarians during a two-day hearing that he would stay
        AP  -  61 words
      • 73 11 Reuters [JAKARTA] The Jakarta stock exchange said it suspended trading yesterday in Indonesia's largest coal producer Bumi Resources and energy firm Energi Mega Persada after a newspaper report that they planned to merge. On Wednesday, Bisnis Indonesia quoted unnamed sources as saying the companies
        Reuters  -  73 words
    • 507 11 Analysts see fastgrowing company hitting RM4Om net [PETALING JAYA] Telecommunications software company Green Packet Bhd looks set to continue its strong financial growth, with analysts projecting net profit this year of more than RM4O million (5517.4 million). This is up from their
      507 words
    • 353 11 AP [KUALA LUMPUR] Malaysia's No 2 telecommunications company Maxis will bring high-speed, third generation (3G) mobile phone service for the first time to Indonesia later this year, a news report said yesterday. The so-called 3G cell phone service capable of downloading video will
      AP; FILE PHOTO  -  353 words
    • 210 11 Bloomberg [JAKARTA] Indonesia and BP pic are still negotiating with CNOOC Ltd, China's No 3 oil company, for a higher price for liquefied natural gas (LNG) from the Tangguh project, said Energy and Mineral Resources Minister Purnomo Yusgiantoro. "I can't give
      Bloomberg  -  210 words
  • Page 11 Advertisements
    • 730 11 >AT» NOTICES I IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SEALION OFFSHORE PTE LTD (In Member*' Voluntary Liquidation) (tog. No. *****9126K NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 7B Keppel Road #09-07 Tanjong
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  • GREATER CHINA
    • 509 12 China Construction Bank in the running, according to sources Reuters IHONG KONG] Asia Financial Holdings Ltd, which is expected to sell its banking unit for roughly US$46O million, has narrowed its field of bidders to a group of nine, including Beijingbacked China
      Reuters  -  509 words
    • 184 12 Bloomberg [NEWYORK] Citigroup chief executive Charles Prince said he's "hopeful" the company's bid to acquire a stake in China's Guangdong Development Bank will succeed. "We have not been notified of anything on Guangdong," Mr Prince toid a Citigroup financial services conference in New
      Bloomberg  -  184 words
    • 529 12 Reuters [BEIJING] China will step up supervision of stateowned enterprises (SOEs) that are being restructured to prevent the erosion of state assets and, separately, let more big firms float shares, a top government official was quoted as saying. The Xinhua news
      Reuters; BLOOMBERG  -  529 words
    • 688 12 Reuters Bloomberg [HONG KONG] Gome Electrical Appliances Holding Ltd and Warburg Pincus yesterday unveiled a deal in which the private equity firm would pay US$l5O million for the right to buy almost a 1 Oth of China's top electronics
      Reuters; Bloomberg; BLOOMBERG  -  688 words
    • 511 12 JV will target global high-speed broadband access market Reuters [TORONTO] Nortel Networks Corp said on Wednesday that it plans a joint venture with rival Huawei Technologies, the Canadian telecom equipment giant's biggest tie-in yet with a Chinese company. The venture with
      Reuters  -  511 words
    • 436 12 Bloomberg [HONG KONG] Kerry Properties, a Hong Kong-based developer controlled by the family of Malaysian tycoon Robert Kuok, will cut borrowing costs by 28 per cent with a HK$6 billion (Ssl.2 billion) loan, said bankers involved in the credit.
      Bloomberg  -  436 words
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  • INDIA
    • 697 13 17,000 workers at India's airports stay off their jobs for 2nd day in protest Bloomberg Reuters [MUMBAI] The Anil Dhirubhai Ambani Group has challenged the Indian government's sale of stakes in the nation's two busiest airports, saying the bidding process wasn't fair. Reliance Airport
      Bloomberg; Reuters; REUTERS  -  697 words
    • 304 13 [NEW DELHI] The Indian government has decided to allow the Indian Institute of ManagementBangalore (lIM-B) to set up a campus abroad, the Business Standard newspaper reported. This comes after the institute indicated that it agreed with conditions laid down by the government,
      304 words
    • 482 13 Reuters AFP [LONDON] India is concerned about French opposition to Indian-born billionaire Lakshmi Mittal's US$23 billion bid to buy steelmaker Arcelor, India's commerce minister said on Wednesday. "We express concern We are watching the comments of the French government very carefully," Kamal
      Reuters; AFP  -  482 words
    • 446 13 Bloomberg [NEW DELHI] Indian Prime Minister Manmohan Singh yesterday inaugurated a rural job guarantee plan aimed at improving incomes and reducing poverty in the second-most populous nation. "The national rural employment guarantee programme has clearer focus on the poorest of the poor," Mr Singh
      Bloomberg  -  446 words
    • 397 13 [NEW DELHI] The Indian government is considering the issue of special bonds to mop up black money without offering any amnesty to the subscriber, reported the Economic Times. The newspaper said that the matter has been referred to the law ministry to
      397 words
    • 448 13 Reuters [NEW DELHI] India's Oil and Natural Gas Corp Ltd is seeking government approval to acquire 90 per cent stakes in two offshore Nigerian oil exploration blocks, a top company official said yesterday, but South Korea's state oil firm denied it had
      Reuters  -  448 words

  • ASIA-PACIFIC/WORLD
    • 513 14 Five-year deals are being given to IBM, HP, and India's Wipro among others Reuters Bloomberg [DETROIT] General Motors Corp yesterday said it has chosen several technology companies to outsource up to US$l5 billion of information technology work, as the carmaker tries to cut costs
      Reuters; Bloomberg  -  513 words
    • 573 14 Matsushita says the sale will add 10b yen to its earnings AP [TOKYO] Japan's Matsushita Electric ended its 15year investment in Holly wood yesterday, selling its remaining 7.66 per cent stake in Universal Studios Holding to Vivendi Universal in a deal
      AP  -  573 words
    • 578 14 Cilpper Ventures Round-the-Worid Yacht Race Leg 4, Race 6 The north-east monsoon is behaving exactly as one would expect The fleet is sailing into a generally NE airflow, varying in intensity between about 12 and 25 knots of steady breeze. Because it is still very much a
      Cilpper Ventures  -  578 words
    • 508 14  -  By ANTHONY ROWLEY in Tokyo TOKYO share prices surged by a further 1.4 per cent to yet another high for the current bull market after a senior Bank of Japan (BoJ) official implied that the central bank is soft-pedalling, abandoning its attempts to tighten monetary
      508 words
    • 313 14 LATEST US DATA Reuters [WASHINGTON] US business productivity fell unexpectedly in the fourth quarter in the first decline in nearly five years while labour costs accelerated sharply in what could be a sign of nascent wage inflation, a government report showed yesterday. The
      Reuters  -  313 words
    • WORLD WATCH
      • 106 14 Bloomberg [FRANKFURT] Deutsche Bank said fourth-quarter profit more than tripled, boosted by an increase in revenue from securities trading and underwriting and a gain from selling DaimlerChrysler shares. Net income rose to 741 million euros (Ssl .5 billion), or 1.44 euros a share,
        Bloomberg  -  106 words
      • 86 14 Reuters [BRUSSELS] Microsoft Corp has asked for more time to respond to the EU Commission's objections in an antitrust case against it, a letter from the US software giant's lawyers showed yesterday. The company faces fines of up to two million euros a
        Reuters  -  86 words
      • 75 14 Reuters [NEW YORK] A top shareholder of Palm Inc, which makes hand-held electronic devices, has sent a letter to the company's board urging them to explore a sale of the company, the Wall Street Journal reported yesterday. The newspaper said Mark Nelson, an investor
        Reuters  -  75 words
      • 86 14 Bloomberg [MADRID] Shares of Lloyds TSB Group, the UK's fifth-largest bank by assets, jumped 5 per cent amid speculation that the company may receive a bid from a US bank. The stock rose 25.5 pence, to close at 535 pence in London,
        Bloomberg  -  86 words
      • 72 14 Bloomberg [TOKYO] Nissan Motor Co's profit growth stalled in the third quarter as sales fell in the US, the most profitable market for Japan's second-largest carmaker. Net income was 135 billion yen (Ssl.B billion) in the three months ended Dec 31, little changed from
        Bloomberg  -  72 words
      • 100 14 Reuters [NEW YORK] The New York Stock Exchange on Wednesday posted a fourth-quarter loss, partly hit by costs to fight litigation by a group of members over its takeover of electronic trading company Archipelago Holdings. The net loss of US$2O.3 million compared with net
        Reuters  -  100 words
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  • WORLD
    • 606 15 IPO will value the company at US$2.5b: Financial Times report Bloomberg [NEW YORK] Burger King Corp, the second-largest US hamburger chain, plans to sell shares to the public for the first time, allowing its private equity owners to cash out three years after
      Bloomberg  -  606 words
    • 270 15 Bloomberg [LONDON] Royal Dutch Shell Pic, Europe's secondlargest oil company, said it will consider acquisitions of less than US$lO billion, as it expands its own production with projects ranging from Saudi Arabian natural gas to oil shale. "With high oil and gas prices it
      Bloomberg  -  270 words
    • 356 15 Bloomberg [WASHINGTON] Three former executives of Berkshire Hathaway Inc's General Re unit and a former American International Group (AIG) Inc official were indicted by US prosecutors probing earnings manipulation at AIG, a person familiar with the matter said. A federal grand jury
      Bloomberg  -  356 words
    • 429 15  -  By RAVI KANTH in Basel THE Swiss pharmaceutical giant Roche, the sole manufacturer of the avian flu drug Tamiflu, yesterday unveiled a war-like strategy to produce 300 million treatments to meet a possible global pandemic by sub-li-censing production to two companies in China and India. The
      429 words
    • 367 15 Move aims to improve security of financial services Reuters [NEW YORK] Six of the largest US banks have teamed up to push for uniform standards for the monitoring of sensitive customer data, at a time of rising concern among regulators
      Reuters; AP  -  367 words
    • 496 15 Bloomberg. Reuters [NEW YORKI Billionaire investor Carl Icahn, who is pushing a fight for control of Time Warner Inc, said it's "patently clear" that the company should be broken up. Earnings at Time Warner would improve after a split, Mr Icahn
      Bloomberg.; Reuters  -  496 words

  • AVIATION
    • 296 16 It complains of substantial roadblocks in the way of negotiations AFP [FRANKFURT] Fraport, operator of Europe's secondbusiest airport in Frankfurt, said on Wednesday that it was pulling the plug on talks to sell its 30 per cent stake in Philippine International Air
      AFP; BLOOMBERG  -  296 words
    • 408 16 Reuters [ROME] Italy's government told unions that Alitalia's turnaround plan must be respected as it hosted inconclusive talks on Wednesday between labour and management meant to avert a return to last month's wildcat strikes, a union source said. Unions, now seeking a
      Reuters; AP  -  408 words
    • 329 16 Reuters [MUMBAI] Boeing Co said on Tuesday it expects to revise its forecast for India's civil aviation market to reflect faster growth, but warned that delays in infrastructure improvements could hobble the pace of expansion. The Chicago-based aerospace company had said last August
      Reuters  -  329 words
    • 637 16 US$42.4m Q4 net loss on high fuel costs, competition Reuters [NEW YORK] Jetßlue Airways Corp on Wednesday posted a wider-than-expec-ted quarterly loss as high fuel costs and competition squeezed earnings, and said it would also lose money in 2006, sending its shares down
      Reuters; BLOOMBERG  -  637 words
    • 548 16 CUT H— in "D IhmVkM IY502A 1215 jg w m Mm—<—« SQ44T061S Amsterdam |jj Andtoraa* WBHf TWO ***** SI 31 —W fflS M»B?S «i m i rseiji UA895 2355 —UABK 6645 m ;wi »|51 m W57J-4lO Darwin OT|7 jj| TR700 JJ50 fov»o M5M WO M05 MT
      548 words
    • 175 16 AFP [SYDNEY] Two airliners clipped wings while taxiing at Australia's Melbourne airport yesterday, but none of the 279 passengers or crew aboard the two planes were hurt, officials said. The Australian Transport Safety Bureau (ATSB) said it was investigating the incident involving a Qantas
      AFP  -  175 words

  • SHIPPING
    • 602 17 Costly to relocate warehouses along badly damaged Industrial Canal Reuters [NEW YORK] The Port of New Orleans, mauled by Hurricane Katrina last year, is recovering steadily but will need millions of dollars if it has to relocate warehouses and facilities along its
      Reuters; AP  -  602 words
    • 223 17 Bernama [LUMUT] Lumut, on the west coast of peninsula Malaysia, will soon become a port of call for international cruise liners when a marina incorporating Dutch architecture is built on a man-made island at Teluk Muroh, here. The RMI billion (***** million) Marina
      Bernama  -  223 words
    • 286 17 SGX '000 ftb? 5$ *1- Vol CH Offshore 0.40 unch 857 ChuanHup 0.39 unch 2887 Cosco Corporation 1.16 0.03 ***** CWT Distribution 0.91 -0.03 264 Ezra Hldgs 2.04 0.01 2444 Freight Links 0.06 unch 132 Grand Banks Yacht 0.91 0.01 42 Java Holdings 1.30 -0.02 2102 K1 Venture
      286 words
    • 399 17 Reuters [JAKARTA] Two days after a ferry sank in heavy seas in Indonesia's east, nearly 40 people were still missing, a rescue official said yesterday, although estimates of the number of people on the ship have varied widely. The Indonesian navy has rescued
      Reuters; AFP  -  399 words
    • 386 17 Higher fuel costs offset gains from increased trade Bloomberg [SEOUL] Hanjin Shipping Co, South Korea's largest shipping company, had a 44 per cent fall in its fourthquarter profit because higher fuel costs crimped gains from increased trade. Net income fell to 92.9 billion won
      Bloomberg  -  386 words
    • 285 17 Bloomberg [SEOUL] Hyundai Heavy Industries Co, the world's largest shipbuilder, posted a quarterly profit compared with a loss in the same period a year earlier, as ship prices recovered from a decade low. The Ulsan, South Koreabased shipbuilder posted a profit of
      Bloomberg  -  285 words
    • 711 17  -  ADMIRALTY CASEBOOK By SELVA KUMAR AN EXPLOSION severely burnt a welder on a vessel off the Western Australian coast last April because no one onboard realised that a hydraulic pipe that was being cut open with an oxygen-acetylene torch was pressurised with oil,
      711 words

  • EDITORIAL & OPINION
    • 536 18 EDITORIAL PHILIPPINE President Gloria Arroyo acted firmly in raising value-added tax by two percentage points to 12 per cent this week, promising to use the extra revenue to erase a paralysing budget deficit two years ahead of schedule in 2008. That is a commendable goal and should
      536 words
    • 1252 18  -  Neurof inance may well become the next great frontier on Wall Street By ADAM LEVY Bloomberg LATE at night, in a basement laboratory at Stanford University, Brian Knutson made a startling discovery: Our brains lust after money, just like they crave sex.
      Bloomberg; REUTERS; BLOOMBERG  -  1,252 words
    • 781 18  -  THE BOTTOM LINE DAVID MASON THE Enron affair has entered its final stage, with the trial of its two most senior officials. Enron, as a scam, was hardly unique in the business world, but it involved venality on a scale not seen
      781 words
    • 1187 19  -  They have paid down debt, saved more money and created more jobs By JAD MOUAWAD, EDUARDO PORTER NYT IN A city of superlatives, Burj Dubai is supposed to top them all. The "burj," or tower in Arabic, is set to become the world's tallest
      NYT; AFP  -  1,187 words
    • 714 19  -  By DAVID BROOKS NYT Everywhere i go, people tell me China and India are going to blow by us in the coming decades. They've got the hunger. They've got the people. They've got the future. We're a tired old power, destined to fade back
      NYT  -  714 words
    • 520 19  -  LETTERS TO THE EDITOR Nah Wee Kee Singapore FOLLOWING the comments by Simon Liew, "Let CPF members have wider investment choice" (BT, Jan 27), I would like to make a few related comments about some desired refinements to the CPF Investment
      520 words
    • 665 19  -  Tan Chade Phang, Roger Co-Founder Oaktree Research Singapore I REFER to yesterday's letter, "Have formal performance audit of research analyst" by Charlie Lafc. In his response to R Sivanity's commentary, "Formal performance audit needed" (BT, Jan 26), Mr Lau said
      665 words

  • Page 19 Advertisements
    • 102 19 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btietleresph.c0m.s9 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

  • FOCUS: OIL
    • 1299 20 WEANING AMERICA OFF FOREIGN OIL The lack of seriousness shows in that overall federal funding for R&D in energy efficiency has declined 14% since 2002 NYT INDUSTRY experts say that if President George W Bush wants to make a push to reduce the
      NYT; PHOTOS: AP; Source: EIA; Source: BP Statistical Review of World Energy 2005  -  1,299 words

  • 9709 21 SGX MAINBOARP S2-Wk T«l Last Vol Day LastQuot. Grttv Mv GrVM Mat MCap High Low Coda Company Sala +<- COOP) High low fciyaf Sdtar Cvr Wl J 6.5 2 5716 1st Software 5t 2.5 -0.5 1930 2.5 2.5 2.5 3 'J' 20 6 3148 8TelecomUS2c +0.5 1574 8.5
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  • 6165 22 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la lacri car la SS i» UM dy dy d> *yr Fafcl tndw Oawga Pang* Oiaoqt Change Cn»m;r WOrUlndfrWtfmaj) <0017 gi 33 03 21 00 44 LAftPretminary ***** 03 3£ 03 3.9 0.1 63 Europe Preliminary 1MM M 41 0.9 4.9 07 73
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  • Page 23 Advertisements
    • 996 23 I J I I > |||||NJQf J| > Jr wyra > W"* f] I m Kjß I u«w NYK GROUP SOUTH ASIA PTE LTD \pMf\ Tki WiCrnbf 05?! 'M' !S HL LINE Fax: 6292 2856 (Regional sates)/6239 7109 (OPS)/6299 5785 (Documentation) NIPPON YUSEN KAISHA TOKVO K>*A*U KASHA. HO. (C/R NO:
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  • Page 24 Advertisements
    • 1428 24 WAN HAI WIBJNAHONAL PTI LID a NO: 14M*****00/I TE: 6226 ISM (14 UNB) FAX: *****163 WaWAN HAI LINES tss&ssssxsssssLV JoHlH;(B7)Hl»»nHU:|l7)?Sl»ni9««;(»Jl)ntSVsHa|ni)n»l7lVn»l3B w *rm:|92I)S2S4IWHU:mi)S2S47WH«W:7IUW/m*l FUtntOT www.w——l.C— 11B:)Dtl)41S7WFmi)t))4IS»WS/41fiW wuswhwhw wc wrr wis no w» «ws mo m_ MMHM2I3 1149 03/02 OS/IB 07 AB 07/02 12/02 IMS 15/02 17 AB IMB 2M2 MMHM23S NU7
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    • 1126 24 vcsa m sin in hkc m m. mm ws «ssa voy_ 9n jct sub hkc usm wis HYPtOGtESS IMS 9/7 11/7 14/7 11/7 20/1 72/? 72/2 KMTC iAKAKTA *02S 5/2 1/7 1/7 14/7 18/7 19/7 HT MIDGE 107S li/7 11/7 7V71 7S/7 77/71 1/3 1/3 ||O»TC PUSAM 407S 12/2 15/7
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    • 744 24 W WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS Vtssa I VOT ISM PJOANG COtOMGO It SHIVA (OiOIHO HfIWIAH IHDCF (Mm 13FB I4FB ILffl HLffl iSifL KOTAfHWBA TTWO7? 70FB 21FB 74F8 ZLffl SIM aaaa |o|w ;?pg MM em »>»»*« ALSO ACCTIMG KL TO COCHM. TUTKOtM
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  • Page 25 Advertisements
    • 797 25 raNordana (Asia) Pte Ltd STT' 70ShwitowWay, «21^>3 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND SLANPS DATB Alt ARRIVAL DAItS VESSEL VOY Singapore FtmotHi Com l»Ud Christ—s l«l—d P«k g| Iskind Express lE6OI X 24 Jon OHeb MW> WW> blond Express 1E602 11 Feb 21_Feb 02tor 05« to
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      523 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 7380 26 This E'A K Advertiser VhhI V#y»j« Telephone I ETA SIN Desfn Nam* Nam* Number Number SIN 16/1 To ABIDJAN (ABJ) 2003 Cote D'lvoire To 16/02 15/03 Delmas URSULA DELMAS 612W *****344 14fl 16/02 21/03 China Shpg CMA COM SEINE SX211W *****898 23/ 18/02 21/03
      7,380 words

  • executive lifestyle
    • Article, Illustration
      1855 27  -  Judging from the number of entrepreneurs willing to take the plunge, creating lifestyle hubs out of conservation and colonial-era buildings appears to make good business sense. GEOFFREY EU looks at the projects coming on-stream GEOFFREY EU NEXT week, a onceforgotten 78-year-old conservation building in Chinatown will be given
      ARTHUR LEE/FILE PHOTO  -  1,855 words
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  • ENTERTAINMENT
    • 540 28  -  Walk The Line merely skims the surface of Johnny Cash's life, says JAIME EE JAIME EE HE kind of looks like Johnny Cash, he kind of sings like him too. She's got that Southern twang thing going alright for her, and she looks
      REUTERS  -  540 words
    • 446 28  -  DVD By PARVATHI NAYAR ARRAKIS, also known as Dune, is the desert planet of the giant sandworms on which is acted out, one of the most beloved scif! series written by Frank Herbert. Set within an entire imagined universe, the Dune
      446 words
    • 510 28  -  By GEOFFREY EU IN Woody Allen's compact and highly imperfect universe, social climbing is a devious, delicate artform and he portrays it to near-perfection in Match Point. The famously cynical writer-director for whom comedy and neuroses go together like sour milk and
      AP  -  510 words
    • 577 28  -  By JAIME EE YOU, Woman. Me, Man. Here in North Country, don't you ever forget that, There're jobs for women cooking, cleaning and suffering in silence and there're jobs for men working in mines, getting dirty, drinking a lot of beer and getting mighty worked up when a
      577 words
    • 394 28  -  By GEOFFREY EU IN Fun with Dick and Jane. Jim Carrey showing the kind of goofy comic form that made him famous reminds viewers of his considerable prowess at physical comedy. stretching his flexible body every which way, exercising his vocal chords this way and
      394 words
  • Page 28 Miscellaneous
    • 188 28 CRYPTIC CROSSWORD DOWN 1 Rubbishy figure played repeat- 16 Beer found on the street is no Across: 1 Plaintiff, 8 Consideredly by a flash person (4-4) longer fresh (5) ation, 11 Rude, 12 Alien, 13 Gala, 2 Rude man fabricated wood (7) 18 Helped the fool first to begin ed-
      188 words

  • WINE/ARTS
    • 1231 29  -  N K YONG finds the Spanish region a source of great pleasure as he tastes the most recent vintages N K YONG PRIORATO in the Spanish province of Tarragona continues to be a source of excitement and great pleasure, in part because of the rugged beauty and
      FILE PHOTO  -  1,231 words
    • 431 29  -  By VIKRAM KHANNA COMING to the Esplanade on Feb 5 is a one-night-only celebration of percussionist fusion, featuring interweaving rhythms from the Indian tabla, western melodic drums and Latin congas. The trio will be led by Zakir Hussain, India's most famous tabla
      431 words
  • Page 29 Advertisements
    • 196 29 j)j ners Club Card r»«pp/ W c«ff64i6 0980 A WorlJof Exclusive Privileges <S* Treats Diners Club uwLjhun.comsi, 'IW imemmwnar Villus Nciils .il SV/**»0 IM'M |HT ilritl fliili I I'rrr rhoi< r of n»tlVc/l<si/N(itldriikliK Menu Nasi Goreng m Hainanese Chicken Rice Katsu Don Kampong Fried Rice Sliced Fish Thick Beehoon Soup
      196 words
    • 215 29 sw2ft Asss» ChUd $23 d£3£ (S- I3S Child $20 (Frl Sun): AduK $35 Child $2t for reservations ind more Information. ptease call 6290 8218/6299 9011/*****011. Prices are sutyact to service charge I govt. Owes Including GST lV E!V^^Hb m n 1 A v A nAZA PAMOtOYAL PLAZA 7500 A Beach
      215 words
    • 109 29 EXCLUSIVE WINE LABELS FROM: AUSTRALIAN FRENCH T/ I AN Dominique Portet Barton Goes tier Rianca EleenHardys Baron Edmond de Roths chid r»minptn Thomas Hardys Chateau La Tour Martillac Garofoii Normans Deutt Champagne Lam bert Peter Lehrmnn Delas Manillas si Wafbum Estates Georges Duboeuf Xanadu Heniy Fessy JT™ Henri Bourgeois CAUfOTNIAN
      109 words

  • FRENCH FLAIR
    • 1144 30  -  The Raffles Hotel is bringing in chefs with a total of 11 Michelin stars among them for its Food and Wine Experience this month. JAIME EE looks at what's in store for fans of gourmet food JAIME EE FRANCE has long been known as
      1,144 words
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    • 77 30 KIh6eIr9HHK9S Imm D t Bit i ■I S tSOffX fJjtwfCl SfclfttY S€Bt pOlmS jTu ycnwf*lMK* KCnWR ayaticiTi —I_— WBmH^"of in the Euro NCAP Safety iuft yNCAPOHPS C —> Exklusiv Auto Services Pte Ltd Showrooms: 26 Leng Kee Road Tel: 6741-1 111 7000-RENAULT, 7 Übi Close Tel: 6741-7622, 6741-1055 ftlOj «»«<-»•,■.»
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    • 57 30 RENAULT iff REVELATIONS Renault was founded on Oct 1,1898 by Louis Renault And so began a string of amazing Renault creations and innovative firsts for the automotive industry. Renault built The first gearbox{lB9B) The first car with two seats (1899) The first car with an interior (roof/cabin) (1900) The first4x4
      57 words