The Business Times, 11 March 2006

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Total Pages: 20
1 20 The Business Times
  • 16 1 THE BUSINESS TIMES weekend SINGAPORE 85 cents MICA (P) 099(03/2006 March 11-12. 2006 online at http://business-times.asial.com.sg
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  • 507 1  -  It addresses stakeholder concerns where it can, and mitigates risks appropriately By SIOW LI SEN [SINGAPORE] In its first comment on the anti-Singa-pore sentiment whipped up in Thailand over its takeover of Shin Corp, Temasek Holdings said last night that it is aware that
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  • 744 1  -  Professionals in industry also suggest extension beyond treasury shares By MICHELLE QUAH [SINGAPORE] Accountants are exhorting businesses to hold back on the cheer. The government's decision to allow a tax deduction on employee share rewards is good news for companies but the
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  • 778 1  -  Orchard Turn, Glutton's Sq malls seen leading way By ALEXANDRA HO [SINGAPORE] Singapore's retail scene could be set for a paradigm shift with the two new malls coming up on Orchard Road at Capita Land's Orchard Turn and Far East Organization's former Glutton's
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  • 133 1 sn 2,496.73 (-7.52) ST INDEX FUTURES (-8.00) siMsa 295.29 (-0.62) SIMSa FUTURES 295.50 (-0.10) MARKETS Friday Chang* KLSECOMP 921.96 +1X6 NIKKEI 225 16.HS.63 ♦71.72 HANG SENG 15.44L05 45j0» SET INDEX 72I.18 -OuBI JAKARTA COMP 1,247.42 +7.84 MANILA COMP 2,103 J7 -6.40 SEOUL COMP 1.X20.07 *8.86 SHENZHEN B 242.86
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  • TOP STORIES
    • 582 2  -  By ARTHUR SIM in Paris A MUSEUM may be a small part of Harrahs Entertainment and Keppel Land's integrated resort (IR) proposal, but it could be a deciding factor in whether the consortium beats its rivals. The IR museum, to be located on a
      582 words
    • 398 2 Source: The Globalise Soaring healthcare costs Healthcare is a major concern to people around the gk>be.While many poor countries are struggling to. provkfcetfen basic health service* industrialised countries are striving to keep their high levels of healthcare arffordabfeWe wonder Whkh of the following countries had the largest healthcare expenditures
      Source: The Globalise  -  398 words
    • 433 2  -  HK's Media Asia agrees to supply top stage acts By ALEXANDRA HO [SINGAPORE] With just over two weeks to go before the March 29 submission deadline for the Marina Bay integrated resort (IR) bid, the MGM Mirage-Capita-Land consortium has unveiled another plank of its
      433 words
    • 804 2 Penalty imposed for failing to disclose certain information prior to Shin sale By OUR CORRESPONDENT in Bangkok PANTHONGTAE Shinawatra, the son of the Thai prime minister, was yesterday fined 5.98 million baht (*****,000) by the country's stockinarket regulator for failing to disclose certain
      804 words
    • 294 2  -  By ANNA TEO [SINGAPORE] In three months, expectations about this quarter's economic growth have gone up by more than one percentage point, to 7.5 per cent. That's the median forecast for the growth in the first quarter's gross domestic product made by
      294 words
    • 54 2 IN "Amendments made to Moneylenders Act" (BT, March 10), we wrongly included financial institutions under the Moneylenders Act. The powers of the Registrar of Moneylenders do not extend to financial institutions. Also, the Act is under the purview of the Law Ministry and not the Finance Ministry. We are
      54 words
    • 561 2 Weak governance to blame for scandals: survey WEAK governance and internal controls are to blame for the recent spate of corporate scandals, says a new study. And the solution could be found in having more laws such as whistle-blowing ones and mandatory codes of conduct for all listed
      561 words

  • RAFFLES CONVERSATION
    • Article, Illustration
      1485 3  -  The key to surviving tough times is to deal with the world the way it is, not the way you wish it were, Cisco CEO John Chambers tells KENNETH JAMES KENNETH JAMES IF there were a global Phoenix Award for the most remarkable corporate comeback, Cisco Systems president
      1,485 words
    • 628 3 BEFORE he joined Cisco Systems in 1991 as head of sales and operations, John Chambers spent six years at IBM and another eight years at Wang Laboratories. In both companies he experienced the trauma of having to lay off workers. But it was also at Wang, then
      628 words
  • Page 3 Advertisements
    • 111 3 The Raffles Conversation is brought to you through a special arrangement with Raffles I J I,i I International Hotels and Resorts. The Traveller's I I I Palm in the Raffles International logo is an apt -A. \XLLLXVJ symbol. Not only has water stored at the base of INTERN AT IO
      111 words

  • COMPANY NEWS
    • 576 4  -  More laws necessary but excessive rules can stifle business By MICHELLE QUAH WEAK governance and internal controls are to blame for the recent spate of corporate scandals, says a new study. And the solution could be found in having more laws such as
      Source: CRA  -  576 words
    • 483 4  -  STOCKS R SIVANITHY Senior Correspondent IN many respects, "psychologically important" chart levels played a key role in trading this week for Wall Street, the Dow Jones Industrial Average kept recouping, then losing the 11,000 level; Japan's Nikkei 225 flirted with the 16,000 level; while
      483 words
    • 6064 4 UNIT TRUSTS FUNDS MM Antra Ami Mgt (S'pore) Star Europe Eqty!** 0.904/ Star Europe Bond 1.162/ Star Europe Bal 1.1V Star Man Tiger Etft 1.154/ Star Asia Bond 1308/ Sta Asia Balanced 1.07V Star Global Technology Fund!" 0208/ Mufti St Fd 1.0*1/ Star Asia Bond(U$D| 0.802/ GbMultiStUSD 1.15* Asia Bond
      6,064 words
    • 508 5  -  Not clear if DBS will increase its 16% stake in Thai bank at this juncture By LESLIE YEE THAILAND'S TMB Bank, in which DBS Group Holdings owns a 16 per cent stake, yesterday unveiled plans to raise up to 20 billion baht
      BLOOMBERG  -  508 words
    • 205 5 MAINBOARD-LISTED United Engineers Ltd (UEL) said yesterday it has secured loan facilities totalling $269.68 million from OCBC Bank and United Overseas Bank to finance its Vista Xchange development at research hub one-north. The facilities, procured by UEL's new subsidiary UE One-North Developments Pte
      205 words
    • COMPANY BRIEFS
    • 421 5  -  More time needed to consider one charge: judge by WONG WEI KONG BRILLIANT Manufacturing's former executive chairman and managing director Harry Koh Soe Khon will have to wait until the end of this month to know his fate on 13 charges related to an
      421 words
    • 290 5  -  By KALPANA RASHIWALA CAPITALAND group has appointed David Tan WeiSon, formerly of Singapore Exchange and OCBC's ebank finatiQ, as CEO-desig-nate of Capita Commercial Trust Management Ltd, the manager of the $2 billion Capita Commercial Trust. He will report to current CEO Martin Tan.
      290 words
    • 309 5 [HONG KONG] Shares of Lai Sun's group of companies gained as much as 14 per cent on Thursday on rumours that Capita Land might buy a stake in the group's mainland development arm. the South China Morning Post reported yesterday. The Singapore-listed developer was in
      309 words
    • 362 5  -  By LESLIE YEE SHAREHOLDERS and analysts hold a positive view about WBL Corporation's people, practices, performance and potential, according to a recent survey by WBL. Most shareholders believe the conglomerate, which celebrates its centennial this year, has "further undiscovered potential". According to survey findings, shareholders
      362 words
    • 228 5 GENTING International has gained full control of London's Maxims Casino, after its UK unit bought back a 50 per cent stake in the company that runs and owns Maxims. Genting International (UK) acquired the 50 per cent stake in Coastbright Ltd from
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  • Page 4 Advertisements

  • Page 5 Advertisements
    • 283 5 THE COMPANIES ACT (CAP. 50) ORANGETEE PROPERTY CONSULTANTS PTE LTD COMPANY REG. NO: *****7657Z (MEMBERS' VOLUNTARY WINDING UP) NOTICE is hereby given that creditors of the above mentioned Company which is being voluntarily wound up are required oo or before 11 April 2006 to send in their names and addresses
      283 words

  • PERSONAL INVESTMENT
    • Article, Illustration
      993 6  -  Compiled by MATTHEW PHAN Singapore Telecom March 10 dose: $2.71 CIMB-GK RESEARCH, March 10 ACCORDING to The Australian daily, SingTel Optus is in talks with Vodafone Australia which could see it buy the infrastructure. The Australian has learned that Optus has had due diligence teams at Vodafone to review
      Source: Bloomberg  -  993 words
    • 991 6 For week beginning Mar 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Mof MM WMEMOUHHQTram Shareholder/ Ml Shares Nr Mm MMr suxt PatT pinKtOf Cam 000 ShrS fooo) Coooi SPC B Mar 06 Keppel Oil t Gas Swc Buy 1000 na *****3 43.82 *****3 44.01 Eastern Hldgs 8 Mar-06 Janet
      991 words
    • 1474 6  -  SHOW ME THE MONEY There's a correlation between the use of 'recession' in news and market returns TEH HOOI LING Senior Correspondent THE Economist has a R-word Index. For each quarter, it counts how many stories in the New York Times and the Washington
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  • BT INVESTMENT ROUNDTABLE
    • 3146 7 OVERVIEW WHILE this year's Budget package wasn't exactly a veritable goodie bag for local companies, several measures were greeted with a distinct cheer. One announcement warmly welcomed by listed companies was the government's decision to allow corporations to claim, as a tax expense,
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  • SINGAPORE NEWS
    • 649 8  -  Indonesia ahead of S'pore in financial institution stability and soundness By ANNA TEO THE findings of a new study aimed at using peer pressure to motivate reform in Asia hold few surprises among 15 East Asian economies, Singapore, followed by Hong Kong, is
      649 words
    • 469 8  -  By UMA SHANKARI SINGAPORE'S four richest men Ng Teng Fong, Kwek Leng Beng, Lee Seng Wee and Wee Cho Yaw have held on to their spots in the Forbes 2006 Billionaires List. And Mittal Steel boss Lakshmi Mittal continues his reign as
      469 words
    • 348 8  -  By MICHELLE QUAH AN EDUCATIONAL institution has for the first time taken the top honours at the Singapore Environmental and Social Reporting Awards organised by ACCA Singapore. Singapore Polytechnic pipped other contenders such as Singapore Airlines (SIA) and Chartered
      348 words
    • 594 8  -  By YEN SREENIVASAN THE partnership of main-board-listed LC Development and Intercontinental Hotels has beaten the field to build, own and operate Changi Airport's first stand-alone hotel. LC Development, which was hived off as a hospitality and property development arm from the Lum ■Chang
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    • 375 8  -  PRICE CHANGES By JURENA CHAN YOU need not worry about paying more for your daily cup of kopi-0 at the neighbourhood coffee shop at least not for now. This is far from trivial news it is a matter of such moment that a press conference
      FILE PHOTO  -  375 words
    • 208 8  -  By GRACE CHQNG SINGAPORE Petroleum Company (SPC) and Chevron Singapore (Caltex) raised the price of diesel by six cents a litre yesterday to reflect market conditions. This takes their price to $1.24 before discount in line with that of Shell, which raised its
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  • Page 9 Advertisements
    • 143 9 Our uncompromising commitment to excellence has won the hearts of our greatest advocates. > v MI TV /in iM IF-|5 F A team of dedicated ladies and gentlemen who make your dreams possible and ours achievable. Best Accommodation Experience Tourism Awards 2004 2005 Hotel of the Year Tourism Awards 2000
      143 words

  • MALAYSIA
    • 519 10  -  Malaysia Airlines to get key local destinations, AirAsia the rest By PAULINE NG in Kuala Lumpur MALAYSIA has carved up its domestic aviation routes, awarding national carrier Malaysia Airlines key local destinations and budget airline Air Asia the remaining local and rural routes,
      REUTERS  -  519 words
    • 457 10  -  By S JAYASANKARAN in Kuala Lumpur ZETI Akhtar Aziz, the governor of Malaysia's central bank, will serve a further five years starting May 1, effectively making her one of the longest-serving governors of Bank Negara Malaysia. The extension of her tenure came
      457 words
    • 8270 10 Transaction date: Mar 10 52-WV Tal Last Vol Day Last Quote GrWv On GrVM Nat MCap HKh lour Caja Sale W- fWB) W0» law i»nr Safcr Cw g H < 5 2 5716 1st Software 5c 2 2 2.5 8.1 18.5 6 3148 8Telecom US2c 7 unch 10
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  • INDONESIA
    • 286 11 Jakarta to seek parliament's approval for the plan next week AFP [JAKARTA] The Indonesian government is to seek parliamentary approval next week for a plan to inject US$lO6 million into struggling flag carrier Garuda, a report said yesterday. Under the proposal, US$5O million would go
      AFP  -  286 words
    • 217 11 Bloomberg [JAKARTA] Indonesia's central bank will probably keep its key interest rate unchanged until inflation falls to about 8 per cent, governor Burhanuddin Abdullah said. "In the long term, when inflation slows down to, say, 8 per cent this year,
      Bloomberg  -  217 words
    • 5904 11 Transaction Date: Mar 10 MOST ACTIVE STOCKS VOLUME VALUE SingTel 15c 19.860.000 UOB 69.057.340 Sky Petrol 5c 19.858.000 SingTel 15c 53.729.810 Chart SemiCond 26c 17.058.000 DflSGrp 48.176.900 MediaRing 10c 16.996.000 OCBCBkSOc 38.354.500 China Petro 4c 15.968.000 SIA50c 37.449.400 CG Tech HK10c 13.875.000 CapitaLand 29.797.400 CapitalandDBeCW***** 13.700.000 Chart SemiCond 26c
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  • GREATER CHINA
    • 641 12 ANALYSIS Reuters [BEIJING] It may amount to no more than rhetoric, but a chorus of complaints about foreign influence over China's economy is swelling to a crescendo, adding a twist to an animated debate about the thrust of
      Reuters  -  641 words
    • 441 12 It gets on board while Goldman Sachs remains noticeably absent Reuters. Bloomberg [HONG KONG] Morgan Stanley, which was originally snubbed by Industrial and Commercial Bank of China for its IPO, has won a role in the roughly US$lO billion listing, China's biggest
      Reuters.; Bloomberg  -  441 words
    • 373 12 Reuters [BEIJING] China is treading cautiously towards reforming Agricultural Bank of China due to its heavy bad debt and possible impact on farmers, a senior banking regulator said in remarks published yesterday. On Sunday, Premier Wen Jiabao pledged to press ahead with reforms of the
      Reuters  -  373 words
    • 122 12 Bloomberg [HONG KONG] Hong Kong's individual investors, whose numbers swelled by 30 per cent since 2003, failed a test of financial knowledge conducted by the city's securities regulator. The average score in the Securities and Futures Commission's (SFC) test last year was 3.39 out of
      Bloomberg  -  122 words
    • 224 12 Reuters [BEIJING] Top Chinese actress Gong Li and former boyfriend director Zhang Yimou are unlikely to win any awards for their attendance at the top advisory body to China's parliament. More than 120 of the 2,280 members of the 10th National Committee of the
      Reuters; FILE PHOTO  -  224 words
    • 493 12 Reuters [BEIJING] No tsunamis, no bombs and no sharks. Just crystal clear waters, swaying palm trees and white sandy beaches the governor of China's tropical island of Hainan thinks his province has it all. Yet last year, even though Hainan attracted
      Reuters; REUTERS  -  493 words
    • BRIEFLY ASIA
      • 65 12 Reuters [NEW DELHI] India's state-run Oil and Natural Gas Corp is in talks to acquire foreign gas and oil assets worth US$l5 billion, the company's chairman, Subir Raha, said. "We are engaged in discussions for transactions worth US$l5 billion and we have the financial
        Reuters  -  65 words
      • 94 12 Bloomberg [BEIJING] China and India are holding talks to try to settle a border dispute that has remained unresolved since the countries fought a war in 1962, China's Foreign Ministry said. China's Vice-Minister of Foreign Affairs Dai Bingguo was to begin three days of
        Bloomberg  -  94 words
      • 68 12 Bloomberg [KUALA LUMPUR] Malaysian tycoon Vincent Tan almost doubled his stake in NasionCom Holdings Bhd, a local broadband Internet access provider that's teaming up with Mr Tan's television company to offer high-speed mobile-phone services. Mr Tan bought 33.7 million Nasioncom shares in an off-market
        Bloomberg  -  68 words
      • 77 12 Bloomberg [JAKARTA] Ari Soemarno, PT Pertamina's new president, said he's evaluating the ability of Indonesia's state oil company to operate the country's largest untapped oilfield. Mr Soemarno, 57, is trying to end a four-year dispute with Exxon Mobil about who operates Cepu, which will cost
        Bloomberg  -  77 words
      • 96 12 Reuters [MUMBAI] India's central bank governor said yesterday that domestic financial markets were vulnerable to risks arising from global imbalances and high crude oil prices, triggering a sell-off in bonds. "Most market participants seem to sense these risks, but this sentiment does not appear in the
        Reuters  -  96 words

  • INDIA
    • 724 13  -  TELECOM FEVER Cellular industry has immense potential for growth, expansion By SIDDHARTH SRIVASTAVA in New Delhi THE latest foray by Temasek Holdings into the Indian mobile phone business comes as the Indian telecoms market is emerging as the world's fastest growing. The Singapore
      REUTERS  -  724 words
    • 514 13 [HONG KONG] Hutchison Telecommunications International Ltd (HTIL), a unit of tycoon Li Ka-shing's Hutchison Whampoa, plans to triple capital spending in 2006 as it aims to speed up investment in India, The Standard reported yesterday. It seeks to spin off
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    • 208 13 Bloomberg [MUMBAI] India's Sensitive Index climbed to a record on speculation local and overseas funds have stepped up purchases of stocks. Infosys Technologies and ICICI Bank led gains among the biggest stocks in the index. "There's a lot of money
      Bloomberg  -  208 words
    • 553 13 Stake will be purchased from existing owners Reuters [KUALA LUMPURI Malaysia's dominant phone provider, Telekom Malaysia, will buy a stake in India's privately owned Spice Communications Ltd, as it moves into the world's fast-est-growing mobile phone market, an executive said. Telekom will
      Reuters  -  553 words
    • 2375 13 VOl ■m w- emu A4M Realty 1.39 -0.01 27 Abrlt 031 unch 17 ACPIndunrin... 0.83 -0.04 2460 Advance Synergy .0.18 unch 333 Adwnli 037 unch 60 AEMM 0.36 0.01 131 AffinHtdgi 1.60 unch 243 Ahmad ZakiRas 1.88 0.01 157 AKCorp 036 -0.03 76 Air Asia 1.68 -0.01 8844
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  • ASIA-PACIFIC/WORLD
    • 774 14 Political pressure relieved amid fears of unwelcome foreign investment NYT. Reuters [NEW YORK] DP World's decision on Thursday to transfer a handful of US port terminals, rather than chilling interest in investing in the US, may actually have made it safer
      NYT.; Reuters; REUTERS  -  774 words
    • 373 14 Reuters [WASHINGTON] A congressional committee is seeking a four-month review of the Bush administration's proposal to ease restrictions on foreign investment in US airlines. They say the plan raises potential red flags on security. The House of Representatives Appropriations Committee approved
      Reuters  -  373 words
    • 176 14 Reuters [LOS ANGELES] Michael Jackson was ordered to shut down his Neverland Valley Ranch on.Thursday by California authorities who have fined the pop star U*****,000 for failing to pay his employees or maintain proper insurance. Jackson's sprawling ranch in the central California foothills was closed,
      Reuters  -  176 words
    • 435 14 LAT-WP [WASHINGTON] The Federal Reserve might have to raise its benchmark shortterm interest rate higher than it would otherwise to keep inflation contained because low long-term rates are stimulating the economy, a top central bank official said on Thursday. Economists continue to
      LAT-WP  -  435 words
    • 329 14  -  By AL LABITA in Manila ABERDEEN Asset Management Ltd, a Singaporebased investment fund, has raised its stakes in two listed Philippine developers to cash in on the property market's incipient rebound. Through a series of stock purchases since last January, the fund now
      329 words
    • 420 14 LATEST US DATA Reuters, Bloomberg, AP [WASHINGTON] US employers added a stronger-than-forecast 243,000 jobs in February but the unemployment rate edged up, the Labor Department said yesterday in a report that left analysts divided about whether inflation was heating up. Average hourly earnings grew 0.3 per cent
      Reuters,; Bloomberg,; AP  -  420 words
    • 379 14 Bloomberg [NEW YORK] Most affluent US investors are optimistic about their prospects this year and say Asia will offer the best returns over the next 12 months. A Bloomberg/Los Angeles Times poll found that 60 per cent of affluent investors expect
      Bloomberg  -  379 words
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  • MOTORING
    • 593 15  -  SAMUEL EE checks out the Thai-made, European-designed hatchback with a spacious interior SAMUEL EE DO CUTE Toyotas exist or is that an oxymoron? Actually, they do but they prefer to live mainly in Japan where they fraternise with other equally trendy models. Some have managed to leave
      593 words
    • 858 15  -  By GEOFFREY EU THERE'S something to be sai<f for owning a classic car with the familiar three-pointed star on its bonnet at the very least, it makes a statement about being part of an extended automotive family with a history that dates back 120 years. Mercedes-Benz is
      MICHAEL GOH  -  858 words
    • 479 15  -  By SAMUEL EE THE new Audi TT coupe to be launched at the end of the year will herald a new design direction for the German luxury brand as it prepares to move away from the robust, geometric shapes it is well-known for. Until now,
      479 words

  • GOLF
    • 1227 16  -  Many of the rookies on this year's Tour could well make their mark, says JUSTINE MOSS JUSTINE MOSS AS THE 2006 LPGA season gets into full swing, the question on the lips of women's golf fans is who or more accurately, who else will make the biggest impact
      AP, REUTERS  -  1,227 words
  • Page 16 Advertisements
    • 695 16 wine&dine withweekendßT Ah Hoi's Kitchen nasi lemak or chye tow kway at Phoenix Garden Cafe. of Old Italy as weH as innovative pastas and fresh seafood b food, beverages and merchandise. Traders Hotel Poolside (above Tanglin Matt), dishes cooked to perfection to tantalise yom taste buds. Raffles Marina mouth-watering dishes
      695 words

  • WELLNESS
    • 1392 17  -  Repairing the mitral valve rather than replacing it will help a patient avoid the use of medication which has side effects. CHEAH UI-HOON reports CHEAH UI-HOON WHY replace when you can repair? Nothing beats original parts, an adage that holds true for the human body as
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    • 673 17 Study finds that levels of a key clotting protein fall after sedentary activity but rise after a flight AFP [PAßlS] Low cabin air pressure and poor pxygenation enhance the risk of deep-vein thrombosis (DVT), a study says, also identifying a minority of people who
      AFP; FILE PHOTO  -  673 words
  • Page 17 Miscellaneous
    • 303 17 CRYPTIC CROSSWORD 4 Enthusiastic about one new ACKOSS Tory taking 50 per ceent (4) 1 People who could weep for 5 Caller accepts fix the paperLondon? (4,6) work is there! (4,6) 6 The sort of man to back influ- 7 Garden of Eden is found entoal people. (4) in a
      303 words

  • SHOPPING
    • 1759 18  -  CHEAH UI-HOON meets four women who gave up corporate careers to design exclusive, handcrafted jewellery CHEAH UI-HOON /.m RTISANAL' has slowly but surely crept into m the Singapore jewelm lery scene good J news for those on the lookout for one-of-a--m kind, handmade jewm m ellery which
      YEN MENG JIIN; YEN MENGJIIN  -  1,759 words

  • TRAVEL
    • Article, Illustration
      1723 19  -  A typically Formula One-challenged female CHEAH UI-HOON may be, but she still caught the fever in Bahrain before the world series opened there CHEAH UI-HOON m T'S Formula One fever time. And the mpod and anticipation was psl|ttfe}e in two weeks b4tblg£|his y-*- year's F1 World Championshipseason W'*
      PHOTOS: CHEAH UI-HOON  -  1,723 words

  • THE BUSINESS TIMES weekend
    • 2183 20  -  Get back in the kitchen but take a class at a cooking school first, says JAIME EE JAIME EE COOKING classes have come a long way from the days of learning how to make dim sum or deep-fried yam baskets from a community centre or a housewife's kitchen.
      FILE PHOTOS  -  2,183 words
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