The Business Times, 2 March 2006

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Total Pages: 32
1 32 The Business Times
  • 13 1 THE BUSINESS TIMES SINGAPOKWScents online at .com.sg MICA (P) 099/03/2006 Thursday, March 2,2006
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  • 868 1  -  Modelled after London's AIM, it could spur entrepreneurship and offer higher risk profile for investors By TEH HOOI LING [SINGAPORE] The Singapore Exchange is considering setting up an alternative platform for young companies to raise funds, Monetary Authority of Singapore deputy chairman Tharman
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  • 133 1 sn 2,482.67 (+0.71) ST INDEX FUTURES 2/485.00 (unch) SIMSQ ***** (+0.04) SIMSQ FUTURES 294.90 (+0.20) MARKETS Wednesday Change KLSECOMP 921.56 -7.38 NIKKEI 225 15,964.46 -240.97 HANG SENG 15,818.09 -***** SET INDEX' 748J8 +4J3 JAKARTA COMP 1,239.27 +8.61 MANILA COMP 2,135.27 +12.31 SEOUL COMP Closed SHENZHEN B 254.45 +438
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  • 620 1  -  Industry players see upgrading project costing hundreds of millions of dollars By WINSTON CHAI [SINGAPORE] Singapore's impending high-speed broadband network is likely to be a multimillion-dol-lar upgrade to .what the country already has in place rather than a totally new set-up. Plans
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  • Page 1 Advertisements
    • 44 1 CAO I lty, w Gu\anfei pleads guilty, PROPERTY Eng Lok Mansion fetches record land price Dr M PG 31 > MORE REPORTS Why SGX should opt for virtually no regulation for new board PG 4 S'pore could model after London's AIM PG 4 Euleen Woman
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    • 38 1 CORPORATE RESULTS PSA's 2005 profit hits record high hi■ PG2 SINGAPORE CORPORATES GO TO THE Oscars h*> i the inaugural SINGAPORE CORPORATE AWARDS specially for SGX-listed companies march 7.2006 raffles Dallroom faritiim wjuvtoy pteiecjlChrisfeneAn} *****119 orsMlvglafttplunui 8 HI
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  • TOP STORIES
    • 789 2  -  Reports of $13.42b capital receipts highly exaggerated, says PM Lee By CHUANG PECK MING [SINGAPORE] The generous cash handouts in the 2006 Budget are not there merely to win votes but also to back ongoing economic restructuring and share the fruits of growth, Prime
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    • 64 2 THE report "DC rate hikes: consultants fear impact on en bloc sales. CBD renewal" (BT, March 1). was accompanied by a table from Jones Lang LaSalle which showed that landed; ffisfdential development Ch&ge rates for the F&'terson/Lengkok Angsa. area;, had increased 23.&93 L cent. The Urban Redevelopment Authority has
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    • 578 2 Gu steps down as CAO director after guilty plea Cl-HNA Aviation OH director Gu Yanfei took the Subordinate Court gallery by surprise yesterday by saying through her lawyer that she would step down as a director of the company. Gu, who is also head of the special task
      578 words
    • 517 2  -  By DONALD URQUHART [SINGAPORE] PSA International yesterday said profit last year rose 20 per cent to an all-time high, as th* world's second-largest operator of container terminals handled record -vok umes as a result of growing global trade, particularly from
      517 words
    • 705 4  -  CAO COURT CASE Resignation comes after she, 2 other directors plead guilty to charges By MICHELLE QUAH [SINGAPORE] China Aviation Oil (CAO) director Gu Yanfei took the Subordinate Court gallery by surprise yesterday by saying through her lawyer that she would
      WONG KWAI CHOW/ST  -  705 words
    • 353 4  -  National swimmer also honoured as 'Young Woman Achiever' By GRACE CHONG [SINGAPORE] Standard Chartered Bank boss Euleen Goh and national swimmer Theresa Goh have something in common besides their name. They have made tremendous contributions in their fields and inspired
      JOYCE FANG/ST  -  353 words
    • 656 4  -  COMMENTARY Retail investors are resilient and quick to seize new opportunities By R SIVANITHY THE biggest dilemma facing the Singapore Exchange (SGX) as it looks at launching a third board for companies with no track record is how much
      656 words
    • 621 4  -  By ANGELA TAN [SINGAPORE] Financial authorities looking at ways for new small companies to raise money are considering the example of London's lightly regulated Alternative Investment Market (AIM). In a study to set up a third platform for nascent companies to raise
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  • Page 2 Advertisements
    • 421 2 Global Transfer Pricing t Make strategic, efficient, and cost-effective transfer pricing a reality Dates Overview Thursday, 6 April 2006 Tax authorities worldwide are increasing their vigilance on transfer pricing. 8.45 am 4.45pm Singapore recently released guidance on addressing transfer pricing and advance pricing agreements. This seminar will include a discussion
      421 words
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  • COMPANY NEWS
    • 531 5  -  HOCK LOCK SIEW By MICHELLE QUAH CHINA Aviation Oil (CAO) has been bending over backwards in recent months to convince investors and the general public that it's serious about shaping up, both financially and in terms of corporate governance. It found new investors, reshuffled
      531 words
    • 412 5 Bloomberg SHARES of Neptune Orient Lines Ltd had their biggest intraday decline in almost three months, after surging fuel costs caused the operator of Asia's fourth-largest container line to post its first profit decline in 12 quarters. NOL shares fell as much as
      Bloomberg  -  412 words
    • 611 5  -  Q4 loss of $582,000, down from $38.89 million loss year ago By CONRAD RAJ SCANDAL-HIT mobile phone services provider Accord Customer' Care Solutions (ACCS) expects to be in the black this financial year following its announcement jesterday of a sharply Jpynpr fourth-quar-net loss of
      611 words
    • 469 6  -  Vantage Corp says it may raise its stake in PacNet to a majority one By ANGELA TAN A BIDDING war could be brewing for Pacific Internet Ltd, as Vantage Corp, 'which owns 29 per cent of PacNet, said it may raise its stake in the
      469 words
    • 428 6  -  By ALEXANDRA HO CITY Developments' shares ran up strongly yesterday to hit $10 before ending at $9.95 a 45-cent surge from Tuesday's close. This came after a 25cent jump the previous day. The investor exuberance that made the counter yesterday's top absolute gainer came
      428 words
    • 372 6  -  By ROLAND LIM AFTER three earlier quarters of losses, regional IT solutions provider Singapore Computer Systems (SCS) returned to the black in the fourth quarter of 2005. SCS yesterday reported a net profit of $0.3 million for the three months ended
      372 words
    • 5953 6 UNIT TRUSTS FUNDS AMI Amro Asset Mgt (S'pore) St* Europe Eqty! 0.891/ Star Etmpe Bond 1.163/ Star Europe M 1.144/ Star Asian Tiger Eqty 1.17* Star Asia Bond 131/ Star Asia Balanced 1.084/ Star Global Tedmology Fire)'** 0208/ Mult) St Fd 1.041/ Star Asia Bond(USO) 0307/ GbMultiStUSO 115* Asia Bond
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    • COMPANY BRIEFS
      • 66 7 FRED Olsen Energy ASA, a Norwegian oil driller, awarded a US$l77 million contract to upgrade a rig to a unit of Singapore-based Keppel Corp. The yard work will be done by Keppel FELS and Keppel Shipyard in Singapore and Keppel Verolme in the Netherlands, with delivery
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      • 98 7 SUN Business Network (SBN)'s 20.5 per cent-owned associate Asia Network Technologies (ANT) has decided to seek a listing of its 34,480 km fibre optic network, covering 440 cities in China, on the Alternative Investment Market in London. ANT, through its subsidiary Guide TV Ltd, has
        98 words
      • 52 7 MANUFACTURING Integration Technology (MIT) saw al3 per cent decline in net profit to $7.11 million for the year ended Dec 31,2005. Turnover rose 4 per cent to $53.68 million. It declared a first and final dividend of one cent per share. Earnings per share were
        52 words
      • 49 7 KXD Digital Entertainment Ltd's 2005 net profit was down 54 per cent to 37.2 million yuan (557.5 million), from 81.5 million yuan in 2004. Sales fell 8 per cent to 1.26 billion yuan, with the company citing fierce competition in the consumer electronics industry.
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      • 59 7 SOUTHERN Packaging Group Ltd's 2005 net profit fell 54 per cent to $2.37 million despite a 32 per cent rise in turnover to $69.26 million. Gross margins were hit by higher raw material prices. The company has proposed a first and final dividend of 0.2 cents
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      • 28 7 ECO Water Ltd's net loss widened to $3.8 million for 2005, from $933,000 the previous year. Turnover fell 20 per cent to $11.8 million.
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      • 60 7 LAFE Technology Limited, a maker of computer magnetic heads for use in hard disk drives and tape drives, said net profit for 2005 slipped to US$7.B6 million from US$B.77 million in 2004. Turnover was U5576.27 million compared to 2004's U5588.29 million. Unlike 2004, the company is
        60 words
      • 53 7 ASIA Power Corporation Limited reported an 85.9 per cent rise in net profit to $10.1 million for 2005. Most of the improvement came from the sale of its entire 70 per cent stake in APC Wind Power Pte Ltd, which resulted in a net gain
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      • 57 7 SEKSUN Corporation Limited, a maker of precision metal components, said its net profit for 2005 rose to $10.78' million from $10.54 million. Turnover rose to $205.28 million from $141.56 million. It also proposed a final dividend of 0.80 cents, down from 1.20 cents, as well
        57 words
      • 58 7 TECHCOMP (Holdings) Limited, a seller of analytical instruments, life science equipment and laboratory instruments, said its net profit for 2005 rose to U553.69 million, from US$3.6B million. Turnover was at U5544.62 million compared to U5541.92 million. It is planning a dividend of about 0.62 US
        58 words
      • 39 7 WESTCOMB Financial Group Limited, which provides a range of capital market advisory services, said its net profit for 2005 fell to $6.14 million from $8.24 million. Turnover also slipped to $21.32 million from $24.37 million.
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      • 28 7 PAPER-LINKED Nippecraft Limited said net profit for 2005 was $4.15 million, up from $3.69 million. Turnover was higher at $73.87 million compared to $66.79 million.
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      • 42 7 HONG Leong Asia announced a 44 per cent drop in net profit to $23.3 million for 2005. Turnover rose 10 per cent to $2.27 billion. The company has proposed a final dividend of 2 cents per share.
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    • 492 7  -  Net revenue quadruples to US$154.4m from US$42.2m By RONNIE LIM THANKS to high oil prices, exploration and production (E&P) company Pearl Energy chalked up net profits of US$2B.4 million in FY2005, after being in the red for US$5.9 million the previous year.
      492 words
    • 190 7  -  By CONRAD TAN UNITED Test and Assembly Center (Utac), a chip testing and packaging firm, will replace insurer Great Eastern Holdings in the benchmark Straits Times Index (STI) from March 8. The weights of 19 other STI stocks will also be updated
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    • 314 7  -  By AMIT ROY CHOUDHURY UNITED Pulp Paper Company Ltd (UPP) slipped into the red for its financial year ended Dec 31, 2005, with a $5.7 million net loss, as compared to a $2.3 million net profit in the previous year. Turnover was down 6 per
      314 words
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  • SINGAPORE MARKETS
    • 468 8  - No surprises it's China again STOCKS China stocks see hefty volume, coupled with huge price gains for many of them R SIVANITHY Senior Correspondent WITH the Straits Times Index drifting uncertainly in the wake of Wall Street's Tuesday plunge that depressed Japan and Hong Kong, traders yesterday focused their energies
      Source: Bloomberg  -  468 words
    • 1043 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Mar 1 and earlier) Subsantial No of Prtc* SHAREHOLDING Subunti»l No o« Prtet SHAREHOLDING Tram Shareholder/ Buy/ Shares Per Before After Traw Shareholder/ Buy/ Shares Nr Before After Stock Date Director Soil 000 Shr S COOP) COOP) Stock Dale Director Soil
      1,043 words
    • Article, Illustration
      1001 8  -  Compiled by UMA SHANKARI Neptune Orient Lines March 1 doso: Ss23B CITIGROUP RESEARCH, March 1 NOL'S net profit of US$l64 million in 4Q05 was about 10 per cent lighter than our forecast and consensus but core APL earnings before interest and taxes (EBIT) was about in-line at US$B45 million
      Source: Bloomberg  -  1,001 words
    • 530 8 CURRENCIES AFP rrOKYO] The dollar remained under pressure in Asian trade yesterday, hitting new one-month lows against the yen as weak data cast doubt on the prospects for further US interest rate rises, dealers said. They said the US currency was also jolted
      AFP; BLOOMBERG  -  530 words

  • SINGAPORE NEWS
    • 577 9  -  Trade pact will eliminate tariffs on 98% of S'pore's domestic exports By DANIEL BUENAS TIES between Singapore and Panama got a shot in the arm yesterday with the signing of a bilateral free trade agreement (FTA). But even before the deal was inked, more than $100
      AP  -  577 words
    • 188 9  -  By HONG SOON JAE GREAT benefits are expected from the Korea-Singa-pore Free Trade Agreement which comes into effect today. Trade between the two countries is expected to expand as many tarifT barriers are swept away. The Ministry of Trade and Industry says
      188 words
    • SINGAPORE ROUNDUP
      • 103 9 A*STAR chairman Philip Yeo (above) has been awarded the honorary degree of Doctor of Medicine by Karolinska Instituted the Swedish medical university. The award recognises his efforts in building and developing Singapore's medical research and education as well as his pivotal role in facilitating collaboration
        103 words
      • 71 9 THE public has responded positively to the Minstry of Health's proposal to regulate optometrists and opticians in Singapore. Eighty-three of the 103 individuals who responded during the public consultation period said they agree to the sector being regulated. In industry feedback, 17 of the 22
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      • 79 9 THE annual Hospital Management Asia conference will be held in Singapore for the first time this year, with the support of the Ministry of Health and the Singapore Tourism Board. Organised by OIC Events Conferences, the two-day conference will be held from Aug
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    • 457 10  -  YESTERDAY IN PARLIAMENT Law Ministry studying the recommendation: Jayakumar By DANIEL BUENAS, CHUANG PECK MING A GOVERNMENT committee has found that Singapore's current bankruptcy regime does not provide sufficient avenues for debtors to negotiate settlements with their creditors to avoid bankruptcy. To
      457 words
    • 373 10  -  By LESLIE YEE SINGAPORE will spend $135 million on hosting the 2006 Annual Meetings of the Boards of Governors of the International Monetary Fund and the World Bank Group in September. Singapore expects this event to generate 300 other meetings and*
      373 words
    • 292 10 PRIME Minister Lee Hsien Loong yesterday dismissed suggestions that the government interferes in state-owned companies, saying again that they are run commercially. He said Minister Mentor Lee Kuan Yew was not issuing a directive when he said in December that Singapore Airlines
      292 words
    • 229 10 NEARLY one in three workers in Singapore is a foreigner, but that ratio is lower than in some previous years, Manpower Minister Ng Eng Hen told Parliament yesterday. Responding to a query from Non-Constituency Member of Parliament Steve Chia, he said there are
      229 words
    • 381 10 LOCAL university fees have been raised at a rate less than or on a par with that of wage inflation, Tharman Shanmugaratnam, Minister for Education, told Parliament yesterday. Following an announcement on Feb 14 this year that the National University of Singapore (NUS) and
      381 words
    • 216 10  -  By ARTHUR LEE FASHION took to the sidewalk outside Ngee Ann City yesterday, when about 50 models sashayed down a 100-metre red carpet, as Orchard Road pedestrians stopped and stared. They were rewarded with a sneak preview of a variety of stunning creations
      ARTHUR LEE  -  216 words
    • 389 10  -  By GENEVIEVE CUA THE average claims payout for life insurance last year was $37,000, barely equivalent to one year's income based on the national average earnings, said Life Insurance Association (LIA) president Jason Sadler. "While this will have helped families to meet some of their
      389 words
    • 436 10  -  By CHEN HUIFEN SINGAPORE'S medical technology sector received a shot in the arm yesterday with New York-listed Edwards Lifesciences Corp announcing it will invest over US$2O million in the next three years to build a manufacturing facility here. The plant
      436 words
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  • FOCUS: MANUFACTURING
    • 795 11  -  DIVERSIFICATION Biodiesel, alternative energy, and minerals and metals are some focus areas for the EDB, says UMA SHANKARI UMA SHANKARI SINGAPORE will soon be manufacturing more than just hard disk drives. The island has attracted its first two biodiesel plants as well as its first silicon
      FILE PHOTO  -  795 words
  • Page 11 Advertisements
    • 124 11 5 4* t If DUO YUN XUAN ART AUCTIONEER'S Collection of Consignment for 2006 Spring auction LOONG HUA ARTS CRAFTS PTE LTD CASH PURCHASE OF CHINESE PAINTINGS We welcome all collectors who wish to consign /sell their 4JK Chinese paintings, A* calligraphy and Chinese visits may be arranged mM f°
      124 words
    • 87 11 Using illegal software in your office is a CRIME. With the Ss2o,ooo* reward offered, anyone can report against you, including your employees. Over 450 employees have already called the Business Software Alliance to report their companies this year. YOUR COMPANY could be NEXT. Do what is right for your business.
      87 words

  • ECONOMY WATCH
    • 775 12 Economists see ECB raising interest rates by quarter point to 2.5% today Bloomberq [BERLIN] The European Central Bank may be betting the house on higher interest rates. Policy makers at the ECB including president Jean-Claude Trichet and chief economist Otmar Issing are
      Bloomberq  -  775 words
    • 372 12 Bloomberg [TOKYO] The International Monetary Fund (IMF) will "significantly" increase its 2006 economic growth forecast for Japan from the current 2 per cent, said IMF official David Burton. "It will be quite a bit higher than the 2 per cent" forecast, Mr
      Bloomberg; AP  -  372 words
    • 186 12 Reuters [SHANGHAI] China will make the yuan basically convertible on the capital account soon, state media said yesterday, as the country moves slowly towards a more flexible currency regime. "China plans to make the yuan basically convertible under the capital account
      Reuters  -  186 words
    • 383 12 US and EU submit their requests for liberalisation Reuters [GENEVA] Global talks to free up trade ,in services. a Jrey pwt of the Worid Trade a an Union they were partners to to business ia dozen areas ranging from telecommunications to computer services,
      Reuters  -  383 words
    • 238 12 AFP [SHANGHAI] China ranks among the world's most wasteful users of natural resources, according to a report released yesterday by a government-lifiked academic group. The study by the Chinese Academy of Science ranked China 56 out of 59 countries surveyed, with Denmark, Switzerland,
      AFP  -  238 words
    • 400 12 Reuters [NEW YORK] Investment demand for gold will remain strong in 2006, although it will fall slightly from last year, supported by the economic and political uncertainties that stoked the rally of the last five years, commodities consultant CPM Group said. CPM's 2006 Gold
      Reuters; AP FILE PHOTO  -  400 words
  • Page 12 Advertisements
    • 865 12 :*at^ NOTICES BUY IT SELL IT FIND IT This is to inform that Jackson Chong Qui, NRIC No. SXXXXS37F is no longer in the employment of Humane Employment Centre Re Ltd with effective from 1 March 2006. He is therefore not authorised to transact any business or collect any monies
      865 words

  • Page 13 Advertisements
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      132 words

  • MALAYSIA/INDONESIA
    • 504 14 Ringgit rises to highest level against US$ yesterday AFP, AP [KUALA LUMPUR] The Malaysian ringgit is fairly valued, Prime Minister Abdullah Ahmad Badawi said on Tuesday in response to charges that it should be allowed to trade in a more flexible range. The Malaysian
      AFP,; AP; FILE PHOTO  -  504 words
    • 2462 14 VOL Mar 1 RM C000) A 4 M Realty 1.40 0.01 4 Abric .0.31 -0.01 76 ACP Industries .0.72 -0.04 922 Advance Synergy 0.18 -0.01 493 Adwenta 0.28 unch 463 AE Multi 0.36 -0.01 66 Atfin Hldgs 1.58 -0.02 271 Ahmad Zaki Res 1.57 -0.02 103 AlCCorp 0.98
      2,462 words
    • 211 14 Reuters [KUALA LUMPUR] Malaysian holding company Killinghall said yesterday it had received notice of a legal challenge to its plans to seek a meeting of shareholders of takeover target Southern Bank Bhd. With a stake of about 16.4 per cent, Killinghall
      Reuters  -  211 words
    • 522 14 Reuters [JAKARTA] Indonesia's third largest mobile phone company, PT Excelcomindo Pratama Tbk, posted its first quarterly profit in the last three months of 2005 since the third quarter of 2004, according to Reuters calculations. A stronger rupiah currency last quarter helped the company,
      Reuters  -  522 words
    • 342 14 Reuters tJAKARTA] The nfimber of mobile phone users in Indonesia is expected to grow 30 per cent in 2006 from last year's 45 million subscribers, the chairman of Indonesia's Cellular Phone Association (Atsi) said yesterday. That could increase the mobile phone
      Reuters; AFP  -  342 words
    • 386 14 Reuters [KUALA LUMPUR] After waiting two years for trial on graft charges, Malaysia's biggest catch in its battle against corruption wants the case against him dropped on the grounds that it is baseless and plagued by delays. Former land minister Kasitah Gaddam was
      Reuters  -  386 words

  • GREATER CHINA
    • 654 15 Sources say it has shelved plans for a simultaneous sale in Shanghai Bloomberg [HONG KONG] Bank of China, the nation's secondbiggest lender, may raise as much as US$B billion in a Hong Kong initial public offering (IPO) in June after
      Bloomberg  -  654 words
    • 211 15 Reuters [HONG KONG] Sociedade de Jogos de Macau SA, controlled by gaming magnate Stanley Ho, is planning to raise about US$l.9 billion in a Hong Kong initial public offering, the online version of the Wall Street Journal said yesterday. The Journal, citing
      Reuters; FILE PHOTO  -  211 words
    • 460 15 AFP [WASHINGTON] The US Director of National Intelligence, John Negroponte, warned on Tuesday that China's steady military and economic expansion may ultimately lead to Beijing attaining superpower status on a par with the United States. "Globalisation is causing a shift of
      AFP; AP  -  460 words
    • 226 15 Bloomberg [HONG KONG] Pacific Century Insurance Holdings Ltd, the smallest of Hong Kong's five publicly traded insurers, said its plan to take a stake in a Chinese life insurer failed because of lack of regulatory approval. The China Insurance Regulatory Commission
      Bloomberg  -  226 words
    • 634 15 NEWS ANALYSIS AFP [BEIJING] Taiwan's abolition of an advisory council on unifying the island with China has heightened fears in Beijing that President Chen Shui-bian may push for independence ahead of the 2008 Olympics, analysts said yesterday. Mr Chen raised cross-strait tensions when
      AFP; AP  -  634 words
  • Page 15 Advertisements
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  • INDIA
    • BRIEFLY ASIA
      • 75 16 Reuters [MUMBAI] Satyam Computer Services Ltd, India's fourth-biggest software services exporter, said yesterday that it would set up operations in Guangzhou in China as it expands in the fast-growing market. "Satyam has plans to increase its presence significantly in China," said senior vice-president
        Reuters  -  75 words
      • 92 16 Bloomberg [MUMBAI] Shares of Reliance Energy Natural Resources Ltd, a part of the Anil Dhirubhai Ambani Group, rose more than threefold on debut yesterday on the Mumbai stock exchange with a price of 17.50 rupees. The shares rose to as much as 26 rupees, compared
        Bloomberg  -  92 words
      • 82 16 Reuters [HONG KONG] Leading investment bank Merrill Lynch has poached JP Morgan's head of Malaysian research to set up a new team of analysts in Kuala Lumpur, according to an internal memo seen by Reuters yesterday. Melvyn Boey, who had been at JP Morgan
        Reuters  -  82 words
    • 421 16 INDIA BUDGET Agriculture needs a helping hand, says finance minister Bloomberg [NEW DELHI] India's farm output must double for the country's economy to achieve a 10 per cent pace of annual expansion. Finance Minister Palaniappan Chidambaram said yesterday. In his budget
      Bloomberg  -  421 words
    • 530 16 It'll also boost investment and growth, say analysts Bloomberg [NEW DELHI] India's plan to cut its budget deficit to the narrowest in a quarter century may keep interest rates in check, spurring investment and growth in Asia's fourth biggest economy, analysts and investors
      Bloomberg  -  530 words
    • 417 16 AP. AFP [SHANNON. Ireland] The United States and India were bargaining over the terms of a landmark nuclear agreement even as US President George W Bush arrived in New Delhi for the first visit there of his presidency. US Secretary of State Condoleezza
      AP.; AFP  -  417 words
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  • ASIA-PACIFIC/WORLD
    • 594 17 Thai PM says he won't step down amid threats of more protests By OUR CORRESPONDENT in Bangkok SQUASHING market suggestions that he might resign, a defiant Thai prime minister Thaksin Shinawatra yesterday said that "under no circumstances" would he go. "I am
      594 words
    • 828 17  -  ASIA INSIGHT The September IMF-World Bank meetings are a chance to make some fundamental reforms ANTHONY ROWLEY Tokyo Correspondent COME September, legions of government ministers, bureaucrats, bank- ers and others from around the world will descend upon Singapore for the annual meetings of the
      828 words
    • 360 17 US bank profits down 5.1 in Q4 Bloomberg [WASHINGTON] Rising short-term interest rates and a surge in bankruptcy filings hurt US bank earnings in the final quarter of last year. Profits fell 5.1 per cent in the fourth quarter from the previous three months and it was the biggest drop
      Bloomberg  -  360 words
    • 472 17 NYT [NEW YORK] In its brief existence as a successful listed company, Google has done more to provoke anxiety among investors than to calm them. Tuesday was such a day. Google's share price tumbled more than 7 per cent on Tuesday after
      NYT; BLOOMBERG  -  472 words
    • 256 17 Reuters [DUBAIJ Government-owned Dubai International Capital (DIG) is setting up a fund worth up to US$l5 billion to invest in large, publicly listed international companies, an official said yesterday. DIC will invest up to US$3OO million of its own money in the
      Reuters  -  256 words
    • WORLD WATCH
      • 106 17 Bloomberg [NEW YORK] A record 11 percent of hedge funds went out of business last year, as profits were crimped by long-term interest rates that fell to near short-term rates and stock prices that stayed stable, according to Hedge Fund Research. Funds
        Bloomberg  -  106 words
      • 59 17 Reuters [BANGKOK] Thailand has suspended free trade talks with the US and delayed signing a deal with Japan until after an April 2 election, officials said yesterday. "There will be no negotiating or consulting rounds until we have a new government," Karoon
        Reuters  -  59 words
      • 100 17 AFP [BANGKOK] Thailand's top energy firm PTT yesterday said its 2005 net profit hit a record high on rising oil prices and brisk domestic demand for natural gas and petrochemical products. Net profit jumped 37 per cent to 85.52 billion baht (553.5 billion)
        AFP  -  100 words
      • 102 17 Bloomberg [BRUSSELS] European Union regulators threatened to take France to court for blocking some foreign takeovers, accusing the government of hampering efforts to make Europe more competitive. The European Commission yesterday said it may seek a court order forcing France to
        Bloomberg  -  102 words
      • 58 17 Bloomberg [NEW YORK] JPMorgan Chase Co's investment bank may boost profit at an annual rate of US$4 billion by next year as the division reaps higher revenue from investments in emerging markets and energy and mortgage trading. "We have a very aggressive programme," William Winters,
        Bloomberg  -  58 words
    • 459 17 LATEST US DATA Reuters, Bloomberg [WASHINGTON] US consumer spending surged 0.9 per cent in January, just below market expectations, as shoppers spent all their income and dipped into savings despite a pickup in inflation, a government report showed yesterday. The Commerce Department said personal
      Reuters,; Bloomberg  -  459 words
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  • AVIATION
    • 705 18 FAA FORECASTS Fares down, but expect more crowds, congestion and delays: FAA Bloomberg, AP [WASHINGTON] The number of US airline passengers will rise 3.1 per cent annually and exceed one billion by 2015, the Federal Aviation Administration said in a forecast largely
      Bloomberg,; AP; REUTERS  -  705 words
    • 289 18 Bloomberg [CHICAGO] Northwest Airlines Corp's fourth-quarter loss tripled to US$l.3l billion because of costs from its bankruptcy filing in September and higher fuel expenses. The net loss at Northwest, the fourth-largest US carrier, widened to US$l5.Ol a share from US$426 million, or US$5
      Bloomberg  -  289 words
    • 112 18 AP [INDIANAPOLIS] ATA Airlines and parent company ATA Holdings Corp emerged from bankruptcy protection on Tuesday, setting their sights on becoming a profitable carrier capable of weathering the harsh economic conditions that have thwarted competitors The airline survived its 16-month bankruptcy largely because
      AP  -  112 words
    • 597 18 Replacement is finance director Haruka Nishimatsu; board enlarged Bloomberg [TOKYO] Japan Airlines Corp ousted its president Toshiyuki Shinmachi, ending a boardroom feud at the unprofitable carrier supported by the nation's fourth-richest man. Shares of the unprofitable carrier, Asia's largest, rose the most in two
      Bloomberg; AP  -  597 words
    • 965 18 CITY WJ6MT HA FUWT UB Almbhabl $0455 1265 ***** 15M Hasai i m ia? gjf AliM«d»hl>< —g SQ442 2000 If It i '—Jin Itt iH >H!! Sri ***** 0715 gg Capetown SOWTTBZS 3 |j||| gBStiti Chengdu CA463 6646 CA464 6746 <m m &?t m up m
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  • Page 18 Miscellaneous
    • 160 18 CRYPTIC CROSSWORD 28 7 VESTERDAVS SOLUTION (6) W Across: 1 Billowed, 6 Bolero, 9 8 She's a tour arranged for skylab, 10 Announce, 11 Teleport, DOWN signing, possibly (9) 12 One-two, 13 Anticipation, 16 2 Creature found by cool river 14 It's complicated to be a real Pterodactyls, 19 Amidst,
      160 words

  • SHIPPING
    • 533 19  -  Its participation in int'l bid welcomed, says VP, citing PSA's expertise in transhipping cargo By DONALD URQUHART, DANIEL BUENAS [SINGAPORE] Panamanian officials say they are hopeful of PSA International's participation in the country's US$9OO million container terminal project, following the signing of
      533 words
    • 261 19 [SINGAPORE] Panamanian vicepresident Ruben Arosemena met with investors on Tuesday to discuss potential funding for the expansion of the Panama Canal, which has reached maximum capacity and is too small for many of today's medium to large-sized container ships. "This is an
      261 words
    • 501 19  -  NOPs received in 2005 'only 0.1% of total operations' By GEORGE JOSEPH J[SINGAPORE] The $7 billion Singapore bunkering industry has been leading the world in good bunker practices and much depends on the people along the bunker supply chain to
      FILE PHOTOS  -  501 words
    • 351 19 Bloomberg [SINGAPORE] China Shipping Container Lines Co and China Ocean Shipping (Group) Co, the country's two biggest movers of sea freight, said they carried 16 per cent more cargo boxes in 2005 as exports to the United States and Europe increased.
      Bloomberg  -  351 words
    • 473 19 President Bush insists the deal is low risk AFP [WASHINGTON] A senior official at Dubai Ports World on Tuesday expressed some sympathy with concerns about his Dubai-based company's plan to take control of operations at key US ports, but said
      AFP  -  473 words
    • 282 19 SGX '000 Marl Si W- Vol CH Offshore .0.38 -0.01 292 Chuan Hup .037 -0.01 2327 Cosco Corporation 1 23 0.04 ***** CWT Distribution 1.02 -0.03 152 Ezra HkJgs _2.12 0.04 305 Freight Unto 0.06 unch 404 Grand Banks Yacht 0.92 unch 0 Jaya Holdings 1.28 -0.02 243
      282 words
  • Page 19 Advertisements
    • 175 19 Far Eastern Freight Conference (FEFC) Ist April Conference Rate Restoration Member Lines of the FEFC wish to announce the following Conference rate restorations effective from Ist April 2006: From Asia lexdudinq Japan! to North Eurooa/Scandmavia and Madrtarranaan Ist April 2006 A Conference rate increase of USD 200 per TEU. Resulting
      175 words

  • EDITORIAL & OPINION
    • 526 20 EDITORIAL INDIAN Finance Minister P Chidambaram has been much praised for his fiscal dexterity in the Budget he presented to the Indian Parliament on Tuesday. Despite heavy expenditure commitments, low privatisation receipts, no cuts in subsidies and no significant tax hikes, he was
      526 words
    • 1225 20  -  Reaction to Bush administration's nod for port deal points to new political realignment LEON HADAR Washington Correspondent IT IS not every daily news cycle that the columnists for the liberal op-ed page of The New York Times and the conservative editorial
      AFP  -  1,225 words
    • 774 20  -  THE BOTTOM LINE YOGI AGGARWAL DESPITE being restricted by the demands of coalition politics, Indian finance minister P Chidambaram's Union Budget for 2006-07 has managed to stay the course on reforms. Buoyed by an economy growing at 8.1 per cent, the government means
      774 words
    • 1640 21  -  Winning over the minds of potential suicide bombers and reformed terrorists is a key strategy By STEWART BELL National Post 2006 Tapping on his laptop computer, wearing a white polo shirt and Rolex, Nasir Abas looks like an ordinary Asian businessman until he begins to talk about
      National Post 2006; REUTERS  -  1,640 words
    • 826 21  -  ROBERT SAMUELSON Washington Post Writers Group WE MAY be close to a critical economic juncture. It's the moment when America's frenzied consumers relinquish their role as "locomotive" for the rest of the world. All that spending and borrowing have juiced the United States economy and, through
      Washington Post Writers Group  -  826 words
    • 440 21  -  LETTERS TO THE EDITOR Ganesh Pillai Singapore I READ with interest the report "MP questions government hand in GLCs" by Chuang Peck Ming (BT, Feb 28). Mr Indeijit Singh, MP for Ang Mo Kio GRC, cited Minister Mentor Lee Kuan Yew's comments on the
      440 words
    • 148 21  -  Michael Loh Toon Seng. PhD Singapore I REFER to the Philip Yeo interview (BT, Feb 25). Certainly, the learned civil servant has a lot to be proud of. However, with all his qualities, he lacks humility and graciousness. If only he had a modicum
      148 words
    • 136 21  -  Denis Distant Singapore BANKS in Singapore no longer provide checking accounts customers with a credit line to use their ATM cards to make payments via the Nets system. This affects shoppers who have been encouraged in recent years to switch to the cashless Nets system.
      136 words

  • Page 21 Advertisements
    • 101 21 HAVEYOUR SAY Fax your letters to 6319-8277 or email them to btletter6sph.com.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. We
      101 words

  • 11246 22 SGX MAINBOARP 52 WV Td Last Vol Day LastQvote GrOiv Mv GrYtd Net MCap High Low Code Company Ml +<- CWO) Wjh Low Njftt Mj» Cvr HI SaJl 5.5 2 5716 1st Software 5c 2.5 unch 1100 2.5 2.5 2 2.5 10.1 18.5 6 3148 8Telecom US2c 7.5
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  • Page 22 Advertisements
    • 30 22 Tirade from 20% deposits* leverags) on moat stocks Go long or short Competitive financing rates in aU markets Access to Asian, US, Euro stocks Select Exchange Tfraded Funds and Indices
      30 words

  • 6061 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES »local car to SS In USJ tfy yr «ty yr dy %yr FrtM Index Change Change Ouny Pingc Change Change WarM lr»Je» Prekrmay ***** -09 i4 -07 If -0.7 47 two -09 43 OS 11 -0.5 57 £u»ci*P«etonniij 13SU -15 5J 49 IB
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  • Page 24 Advertisements
    • 1137 24 NYK GROUP SOUTH ASIA PTE LTD jfJiCfM- TT Si ML LINE Fax: 6292 2856 (Regional sales) 6239 7109 (OPS)/ 6299 5785 (Documentation) NIPPON YUSEN KAISHA TOKYO «t>*AJCU KASHA. UD. (C/R NO: **********0E) UK CONTINENT SERVICE U.S.A SERVICE Destination Destination ERIKOUSA RDM/ATW/BMNALB/MAN JOHN F C i^SffSiiSSf HANJIN HOUSTON VCB/VCW/LAX/MZL Loads Singapore,
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    • 688 24 IMTMAIiA KOftO SWVICf VtSSa/VOY KAMPQCT) HBGHTW TO KH U» W STRAITS VENTURE 05/04 IS 1? 22/03 25/03 30/03 02/04 04/04 STRAITS VENTURE 04/04 15 3.2 04/04 09/04 20/04 23/04 25/04 STRAITS YPmjtE 07/04 IS 3.2 27/04 30/04 04/05 07/05 09/05 AIffTRAiIAN ROtO SiRVKI I I MMpgrn I hbchhm) I m
      688 words

  • Page 25 Advertisements
    • 1730 25 WAN HAI MTBINAIIONAL PTE LTD a Nft 146W*****/R .nan TIL: *****588 (14LINES) FA******163 \M N WAN HAI I INr\ CmfwrS«nifc»/Bo»fchgiDHctlh»-(1800)*****200 Y 11 V f fflll I Inl LlllL.# mifcmswiHMfciuinttimpwmiMiiuMDMfciMißNaw V JOH TtL (071 *****23 FAX: {07)*****71 SUR TR: (031) *****75 FAX: 1031) *****06 www wonhni cam to JKTTH:(O7I) 5254IUHCL (071)
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    • 187 25 ttfe* P- T. DJAKARTA LLOYD (PERSERO) AUSTRALIA FULL CONTAINER SERVICE As Agents Starship Agencies (MAL) Pte Ltd Operator Code: DJ CR NO. *****9700Q0H vst Ivor sin Ime I Hti Im I stp I» I aST" NtDUOYD AMUIDC 101S 05/03 07/03 13/03 19/03 21/03 24/03 ANLEMKEW 030S 12/03 14/03 24/03 26/03
      187 words
    • 1118 25 vEssa voy sin jo hug khh me kyh pus vessel voy sin jkt su» hkg ush pus HYPtOGKSS 109S 2/3 4/3 9/3 11/3 13/3 IS/3 15/3 KMTCPUSAN 6Q3S 5/3 8/3 9/3 14/3 18/3 19/3 HYWIDCf IQtS 9/3 11/3 It/3 11/3 20/3 22/3 2Z/3 KMTC SINGATOKE 603S 12/3 15/3 14/3 21/3
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    • 819 25 m WEEKLY EXPRESS SAIUNG SCHEDULE I VESSEL I VOT SIN I PJaANcj COLOMBO IN. SHEVA I COLOMBO I I also acoptmg parocDO«i nmawN (via anotMoiAND kandu t goa| (VIA N SHIVA) CONNKHNG MOTHB VSLS TO EUROPE (FHiXSTOWI, ROTTBDAMI HAMBURG) AW) lAST COAST USA (WW TOM. HOtTHWUt I QWtIfSTOM) AT H
      819 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 5814 26 This lo AM) JAM (At!) 2003 COH DTvO*» Mil 'DO* ClMa 9ipq WWiWU 101* 651 WW I«D1 1W04 iMW «t>0M0U1 MIMAS 6'5W *****3*4 1VD) 1MM Ow*H CM* CGM MMLASS4R WW 653HMB 12C1 WO* CMm NAtA MIMAS 616M 63)77)44 00) 0M7S (Mm MIMAS MIA224AII «<«
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  • Page 26 Advertisements
    • 137 26 mum* Ikm um. SrSr !2 25! jsumi mc if/ii li/H SsL St M —s5 jtLum \mm wn ma I KEr 3) ftflr »JS mum Mm nm tun BBL 3S ~m —m Sftw* i& En :gn HI j s [js i4ijfij^=yyj^y ww WT m I mora] ma* \rm «u* ~rr—-»- T
      137 words
    • 142 26 rem ~—TWW —PBT T'W —rrooyr mi r m"Tm mm* t~» HRRQi Fi/fc W9S~W* *4/03 »y-0» un ■mmin n ra tits M/n imi i«/m rvoa u/m h/w ii/w m/m ■*< twwi m>m i«/w i»/w am l»i/il um I—/— I »v— vxl m iar.| su\ sai TMNmuOM OS-W IVW JJ/M .Ml o*/0*
      142 words
    • 64 26 BSA x MYANMA IH| FIVE STAR UNE 'PpaiMMN («db| Iw TMfM aaSmiNMi NM MM tt "fik MNJMIi ACCtFT— CfYUTWAi C— mm. mm m m m m m m m mmmm nwunn---mmwm u u mmmm ■Ml MS vim ft/U mmmm m mm nmnm wan n/« mm »m MMMM*** MUIKj U iItMNI
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  • BizIT
    • 591 27  -  The proposed broadband network will enhance the country's competitiveness and make exciting applications possible for users, experts tell WINSTON CHAI WINSTON CHAI WHILE details of Singapore's next-gener-ation network are still on the drawing board, one thing seems certain a new high-speed broadband infrastructure will
      591 words
    • 469 27 AFP [CUPERTINO, California] Apple Computer on Tuesday unveiled a new minicomputer designed as a hub for digital entertainment, and a home stereo system linked with its popular iPod music player. Apple chief executive Steve Jobs showed off the new-generation Mac Mini and the iPod Hi-Fi at
      AFP  -  469 words
    • 200 27 Reuters [HO CHI MINH CITY/HONG KONG] Intel Corp, the world's largest chipmaker, said it would invest US$3OO million to build a factory in Vietnam to package and test microchips that power personal computers and mobile phones. It marks the biggest investment in
      Reuters  -  200 words
    • 375 27  -  By ROLAND UM JUST two weeks after launching new models at the 3GSM World Congress in Barcelona, Sony Ericsson unveiled six new models on Tuesday, including its first Cyber-shot branded phones. Speaking to BizlT at the launch event. Lennard Hoornik, corporate vicepresident and head
      375 words
  • Page 27 Advertisements
    • 26 27 Lfe V s Holding an auction? Call 1800 289 8822 or email notices@sph.com.sg to book your auction notice in our newspapers now. W AT>i i NOTICES
      26 words
    • 128 27 Ki 1 How many calls are abandoned <C 9 r^|P9 How are your agents' performances? Are calls being directed to the jta| A iJ M appropriate handling groups? |Pf Can your agents' phone L^jglkijß conversations be recorded or ?Mjk JL MjfL M monitored (real-time) without A A acquiring costly equipments?...
      128 words
    • 145 27 Experts believe Singapore's broadband backbone will still be anchored on a fixed line infrastructure. Biiii FUJITSU THE POSSIBILITIES ARE I I FINITE it if PRIMERGY can meet the extreme performance and reliability demands of the animation industry, it can meet the needs of any other application, j j NICKSON FONG
      145 words

  • PROPERTY
    • 475 28  -  Freehold properties Hilton Towers, Katong Shopping Arcade go en bloc By KALPANA RASHIWALA THE en bloc sale bandwagon continues to gain momentum. Two more collective sale sites were launched yesterday Hilton Towers at Leonie Hill with a $77 million price tag, and Katong
      475 words
    • 505 28 Reuters [HONG KONG] Hong Kong apartment prices are set to resume their brisk climb, to the relief of the city's big developers, as homebuyers believe interest rates arg About to peak and the supply of new homes is low. Analysts say shares in firms
      Reuters  -  505 words
    • 356 30 Competition will reveal differing abilities to raise funds: Moody's Reuters [TOKYO] The Japanese real estate' investment trust (Reit) market continues to expand steadily, and Reits have increasingly become a presence in the real estate market, but credit gaps may widen amid intensifying competition
      Reuters  -  356 words
    • 1692 30 PROJECT NAME/ PROP' CONTRACT TENURE BUIT-IN/IAND PRICE PSf STREET NAME TYPE DATE AREA'gQFI) I (SS'OOO) (SS) District 1 NON-LANDED Emerald Gdn Apt 03/02/2006 999 990 830 838 PeartsCte Apt 30/01/2006 99 183 160 874 Pearls Cte Apt 30/01/2006 99 > 409
      1,692 words
    • 653 31  -  Highest offer of $128m works out to new record of $1,130 psf ppr By KALPANA RASHIWALA THE tender for the freehold Eng Lok Mansion, near the Botanic Gardens, has attracted eight bids. And the highest offer said to be about $128 million
      Flli PHOTO  -  653 words
  • Page 28 Advertisements
    • 459 28 HILTON TOWERS Prime district 9 Elevated s te Grange Road §Sisr Land: 33,700 sq ft approx IJ freehold, zoned "Residential" \\w- **2m 2 Plot ratio 2.8, up to 36 storeys Invitation to Submit Offer Closing 30 March 2006, Thursday at 3pm Peggy Tan 6531 8540 Tay Liam Hiap 6531 8616
      459 words
    • 52 28 Paya Lebar 178 ft ry .jg| Impressive Class Facade Close proximity to public transportation, MRT Station, PIE/CTE Basement Carpark Wide corridors and High ceilings 24-hour security with controlled access and CCTV monitoring For enquiries, please cad Elf Scah 9693 4126 Cayce Kor 9828 9762 Sharon Chan 9112 206? Domink Peters
      52 words

  • Page 29 Advertisements
    • 210 29 T V f; Lr J -I i f V "Tv *< < »£''"^j An unrivalled quayside experience at Asia's ultimate integrated marina resort I'll! Tl jAIIUiM I 'V J J' v. I "V j Share our vision. Embrace an investment opportunity unlike any other. 1 Sentosa Cove, on Sentosa Island,
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  • Page 30 Advertisements
    • 280 30 To«p«yoh'r Mub Large Thomson Vicinity chu (tpy) fcwrrV o PIE I JLN TOA PAYOH Site for 36-sty Condo o Lock Cho Apts adjoining devts I J OANG o Total land 178,000 sf, incl SL "£> 3 =i Freehold, PR*2.B, 36 stys Cw*» balestier Close to HDB Hub, Novena Sq, MRT
      280 words
    • 312 30 Largei Site Raffles Girls j Pn Sch /g Site Area: 256,486 sf (approx) Pis HHiffiif Tenure: 99 years leasehold If Btfljfl Plot Ratio: 1.4 uun«.HSi 1 toCitv Prestigious address at prime district 11 Close proximity to reputable schools Hw.chon g U jfl [Jil /~b*T Next to Raffles Girls Pri and
      312 words

  • Page 31 Advertisements
    • 326 31 PRIME RESIDENTIAL DEVELOPMENT SITE FOR SALE BY TENDER \\V V -rrTsV 261-269 BtTimah Road, \\> n --chancebDs£>"5£>" Casa Rosita A/ Large site area, approximately 267 428 SQ A/ Plot Ratio 1.6 fcf Height control up to 12 storeys Excellent locality Walking distance to Newton MRT J J > Close proximity
      326 words

  • Page 32 Advertisements
    • 1319 32 ADVERTORIAL t '*&JU| Build Your Data Center of the Future Today! If &> i&i iX Ul' l Jr 1:|| li:^-i::!:::ktlMm JL^dH JP?# #4&ib V•' ->' SYSTI MAX® Solutions experts share sensible advice on how to design reliable, powerful and future-proof data center S Data centers of the "80s were SYSTIMAX
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