The Business Times, 22 March 2006

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Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Wednesday, March 22,2006
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  • 1092 1  -  Judge imposes sentence severe enough to act as 'general deterrence', given vital importance of good corporate governance By MICHELLE QUAH [SINGAPORE] In a decision described by the prosecution as a "big statement on corporate governance", former China Aviation Oil chief Chen Jiulin
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  • 432 1  -  It'll expand Woodlands facility and hire 2.200 more staff By ROLAND LIM [SINGAPORE] The world's largest maker of hard disk drives, Seagate Technology, yesterday announced that it will spend US$3OO million over the next year on expanding its operations in Singapore, increasing its
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  • 135 1 Dsn 2,497.17 (-15.43) ST INDEX FUTURES 1499.00 (-16.00) siMsa 294.93 (-2.77) SIMSO FUTURES *****(4.30) MARKETS Tuesday Change KLSECOMP 823.13 +0.11 NIKKEI 225 Closed HANG SENG 15.922.7S -7M SET INDEX 732.48 -2JB JAKARTA COMP 1,327.14 -2.97 MANILA COMP 2,185.71 +22.40 SEOUICOMP 1336l65 -iat>4 SHENZHEN B 251.79 +2.76 MUMBAIINO 10,905.20
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  • Page 1 Advertisements
    • 118 1 pypr" THAI CRISIS Thai protesters descend EXEC MONEY Are emerging markets getting too hot? PG 32 MOTORING Why VW-Proton link-up failed PGIS Asia Pacific Maritime 2006 Read about latest shipbuilding trends and outlook for repair and conversion yards. PGSIB to 21 ill! 8 *****4 j/ v >•*&£> The new Opel
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    • 18 1 tF World Cup 2006 How CEOs and top execs can score for a good cause PG2 V /^Jij
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  • TOP STORIES
    • 484 2 WITH less than 80 days to the Fifa World Cup finals, The Business Times and Philips have teamed up for a charity drive that will engage the corporate fraternity and add a bit of sporting fun in these pages.
      484 words
    • 271 2 PHILIPS Singapore chairman and CEO Mourad Mankarios (above) personifies the cosmopolitan theme of the World Cup. Born in Egypt, he is now a Canadian citizen but supports the Netherlands. An obvious choice, since neither Egypt nor Canada qualified for the World Cup finals and
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    • 613 2 Learn from my mistakes, says Chen FORMER China Aviation Oil boss Chen Jiulin has told BT how sorry he is for the financial debacle that happened on his watch, despite his best efforts to make CAO an international success. Chen said that he finally decided to tell his
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    • 585 2  -  Company may be privatised if US$3.6b buyout takes place Reports by, ALEXANDRA HO [SINGAPORE] Integrated resort (IR) contender Kerzner International could go private if a US$3.6 billion deal to sell the company to a group of investors goes through. But Kerzner, which
      585 words
    • 410 2 Harrah's-KepLand sign up partners for top Asian shows (SINGAPORE] Harrah's Entertainment and Keppel Land are moving to make sure they entertain visitors in different languages should they win the contest for the Marina Bay integrated resort (IR). Since bringing in AEG Live for Western stars,
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    • 499 3  -  Industry players expect it to fetch $250-300m By KALPANA RASHIWALA [SINGAPORE] Singapore Airlines is looking at selling its 35-storey SIA Building in Robinson Road. CB Richard Ellis (CBRE) has been appointed marketing agent to handle an expressions-of-interest exercise that closes at the end
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    • 692 3  -  Ex CAO boss expresses regret for what happened on his watch By MICHELLE QUAH [SINGAPORE] After having kept silent since the China Aviation Oil (CAO) scandal flared up towards the end of 2004, former boss Chen Jiulin has Anally spoken up. In an exclusive
      692 words
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 716 4  -  Most say they are not aware of any reason for sudden price/volume rise By UMA SHANKARI THE Singapore Exchange (SGX) has queried at least 17 companies on their stock's trading activity since the start of the year, but in most cases search for answers
      716 words
    • 678 4  -  HOCK LOCK SIEW By R SIVANITHY TO MANY in the stock market, it's become a bit of a joke, an embarrassing redundancy perhaps best done away with. We're referring, of course, to the familiar ritual of the Singapore Exchange (SGX) querying a listed company when
      678 words
    • 348 4  - GuocoLand sells 21 Hotel Prop stake to Wheelock By UMA SHANKARI GUOCOLAND, a Singapore property developer controlled by Malaysian billionaire Quek Leng Chan, has sold its 20.9 per cent interest in listed Hotel Properties to Wheelock Properties for $171.4 million or $1.80 a share. The stake, which was held by
      348 words
  • Page 4 Advertisements
    • 52 4 M d Tonight, we're honoured to celebrate Singapore's most prestigious business awards: Businessman of the Year 2005 Outstanding CEO of the Year 2005 Outstanding CEO (Overseas) of the Year 2005 Enterprise Award 2005 the most outstanding The Grand Ballroom, l f lO Ritz Carlton Millenia Singapore, for Manpower Jointly organised
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  • Page 5 Advertisements
    • 986 5 W /So/rs Wr W'J 'V ASCOTT preferential residence yield TRUST MT < f' i ■■P^ BTOjyl pppjjK nQH£*« ff HrPi Iwm 1 Jllr ,j awCSti£Si H s3b r llii jlg^ijal fi <<h i IF/ Entitlement to purchase (1m units by Ascott Share holders RUT focusing on Pan-Asian H2 Ascott Shareholders
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  • SINGAPORE MARKETS
    • 926 6  -  CURRENCIES Both may slide farther despite weaker US$ outlook LARRY WEE Senior Correspondent A LAST minute rush for the exit by Japanese investors has aggravated the fading fortunes of the once-popu-lar Antipodean pair, notwithstanding expectations for a weaker US dollar
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    • 951 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Mar 21 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director Sell '000 Stir ('000) ('000) Adv Integrated Mfg 20-Mar-06 DrTanKimYong Buy 943 0.26 *****5 61.84 *****8 61.99 Nam Lee 20-Mar-06 Yong Koon
      951 words
    • 293 6  -  Compiled by UMA SHANKARI MFS Technology March 21 close: $1.15 MERRILL LYNCH, March 21 MFS share price has done very well over the past six months (+ll5 per cent) and is up 54.5 per cent year to date. This was on the back of strong profitability and earnings recovery
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    • 420 6  -  STOCKS R SIVANITHY Senior Correspondent WHEN nine of the top 20 gainers are structured warrants on one stock, Capita Land, you can't help but suspect that the session was an unremarkable one. Add to this the fact that one stock, Singapore Telecom, dragged the Straits Times Index
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    • 300 6  -  CHART POINT By YEO KEE YAN, chartist at Kelive Research THE benchmark Straits Times Index continues to fluctuate around the 2,500-mark. Yesterday's pullback due to Singapore Telecom's weakness was counter-offset by gains in Jardine Matheson and SPH. This enabled the STI to remain above its
      300 words

  • COMPANY NEWS
    • 435 7  -  This is despite reported Korean reservations about its eligibility By LESLIE YEE AMIDST news that the Korean authorities may deem DBS Group Holdings ineligible to buy a controlling stake in Korea Exchange Bank (KEB), the Singapore banking group remains confident about the
      435 words
    • 372 7  -  By LESLIE YEE OCBC Bank yesterday inked an agreement to subscribe for a 10 per cent stake in Vietnam Joint-Stock Commercial Bank for Private Enterprises (VP Bank). OCBC is acquiring its stake in VP Bank for about $25.4 million in cash. It
      372 words
    • 643 7  -  Stock slumps 6.4% following Temasek sale of 770m shares By SIOW LI SEN SINGAPORE Telecommunications shares yesterday tumbled 18 cents or 6.4 per cent to $2.62, following a 770 million share placement by parent Temasek Holdings at $2.66 apiece. The price plunge,
      Source: Bloomberg  -  643 words
    • 533 8  -  It invests in Lingang warehouses as part of plan to develop port area By ALEXANDRA HO MAPLETREE Investments is hoping to cash in on the growth potential of Shanghai's Lingang industrial area by being the first Singaporean company to make inroads there. Just on Monday,
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    • 477 8 Bloomberg [BALl] PT Telekomunikasi Indonesia, the nation's biggest telecommunications company, said it is in the "exploration stage" of a plan to sell stakes in some units to overseas investors to get access to know-how, add new services and boost sales. The company will
      Bloomberg  -  477 words
    • 375 8  -  Plant's capacity will be 100,000 tonnes of water per day By MATTHEW PHAN LESS than a week after unveiling a 110 million yuan (Ss22 million) deal in China's Harbin city, Asia Environment Holdings yesterday said it has signed another framework agreement
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    • COMPANY BRIEFS
      • 56 8 CNA, an enabler of intelligent buildings, said it has won projects worth 70 million yuan (Ssl4 million) to implement integrated control and automation systems in China. It expects China to contribute 30-40 per cent of total revenue in 2006 and 2007, up from
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      • 57 8 HONGGUO Holdings International has a new substantial shareholder. Hong Kong-based fund management firm Value Partners has raised its stake in the company to 6.69 per cent, up from 2.52 per cent. Value Partners purchased 16.5 million shares —or 4.16 per cent of issued share
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      • 42 8 CSC Holdings said that its wholly owned subsidiary Kolette has agreed to sell a plot of land at Tuas for $3.4 million. The sale will give CSC a net profit of about $500,000,
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      • 57 8 KEPPEL Seghers, the environmental technology arm of Keppel Corp, has won a $13 million contract to provide technologies and services for the first waste-to-energy plant to be built in Jiangyin, China. Keppel Seghers will provide its proprietary equipment design and technical services for the
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      • 39 8 SP Corporation said it had re-negotiated three agreements with PT Bukit Baiduri Energi, and overall, the ventures will continue to contribute positively to group results for 2006, but at a lower level than 200$.
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  • Page 8 Advertisements
    • 85 8 Vorsprung durch Technik www.audi.com.sg W 53 1 ,fr .<- m^bjjo^ ~.~aMmt^ •'.T^ipSfv The AlI You've always created your own rules. And made your mtrfc, comes in a new With Its sleek new grille, progressive design and a levpl.^f the Audi A6clmespowered by the or engine with quattro*. wWRv character for
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  • SINGAPORE NEWS
    • 459 9  -  PROPERTY JLL sees D9-11's price premium disappearing in 2 years By ARTHUR SIM THE increasing number of investment-grade residential properties in the central districts is slowly making Districts 1 -4 the alternative destinations for investors who traditionally shop in Districts
      FILE PHOTO  -  459 words
    • 496 9 FORMER Parkway Holdings boss Tony Tan and his family have roped in the founder of Penang's Island Hospital to redevelop a choice Napier Road site that the Tan family and other partners bought this month in a $138 million en bloc
      CAROLINE CHIA/ST  -  496 words
    • 227 9 CAPITALAND Residential Ltd (CRL) has raised U*****.7 million by sponsoring the securitisation of receivables arising from sales of condominium apartment units. Bayerische Hypo-und Vereinsbank (HVB), the sole mandated lead arranger, announced yesterday the closing of what is the largest Singaporean residential securitisation to date. A
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    • 134 9 START-UPS, entrepreneurs and organisations will have more flexibility and choice under the extended Rent Direct scheme launched by Singapore Land Authority (SI.A). Under the scheme, three vacant state properties 95 Tampines Road, 70 Martaban Road (former facilities of the old Tan Tock Seng hospital)
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    • 328 9 THREE smallish residential sites two in the East and one in the Yio Chu Kang area were put on the market yesterday. In order of size, they are St Patrick's View, a vacant site at Sirat Road, and Heiwa Court. All three tenders are
      328 words
    • 350 10  -  One possible outcome ez-link card business could grow by up to $3b By SAMUEL EE THE Land Transport Authority is collaborating with its London counterpart on planning, security and technology issues for transport systems, and one possible outcome is the growth of the ez-link card
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    • 161 10 SINGAPORE and Malta yesterday signed an agreement on avoiding double taxation, making Malta the 56th country with which Singapore has such an agreement. "With this agreement, our businessmen need not have to worry about tax issues as they seek out investment opportunities," said Raymond Lim,
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    • SINGAPORE ROUNDUP
      • 77 10 AFP CHANGI Airport handled 5.38 million passengers in the first two months of this year, up 11.2 per cent from the same period in 2005, said the Civil Aviation Authority of Singapore yesterday. The passenger volume was partly driven by travel during the Chinese New
        AFP  -  77 words
      • 87 10 THE Urban Redevelopment Authority yesterday launched an industrial site at Bedok North Avenue 4 for sale. The 106,370 sq ft site is being sold on 30-year lease through a tender that closes on May 16. Colliers International managing director Dennis Yeo expects the
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      • 68 10 ASEAN education ministers yesterday explored ways to promote regional identity and socio-cultural community in their first meeting, held in Singapore. The Ministry of Education said that they talked about building on the strengths of the region's multi-ethnic societies and attaining social cohesion through education. The ministers
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  • Page 9 Advertisements
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  • Page 10 Advertisements
    • 1704 10 I a SembCorp I Industries I m I SEMBCORP INDUSTRIES LTD I Co Regn No. *****2418 D I (Incorporated in the Republic of Singapore) I NOTICE OF ANNUAL GENERAL MEETING I Notice is hereby given that the Eighth Annual General Meeting of the Company will be held at The Theatrette,
      1,704 words
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  • ECONOMY WATCH
    • 835 11 Bernanke points to savings-investment gap as a cause of US rates puzzle NYT [NEW YORK] Ben S Bernanke, the newly installed Federal Reserve chairman, suggested on Monday that the central bank will need to pay more attention to global financial conditions in
      NYT; AFP  -  835 words
    • 668 11 Bloomberg [KUALA LUMPUR] Malaysia's economic growth may accelerate this year as manufacturers including Unisem (M) Bhd sell more semiconductors overseas and companies such as IJM Corp benefit from government spending. South-east Asia's thirdlargest economy will probably expand 5.5 per cent this year after
      Bloomberg  -  668 words
    • 390 11 US trade deficit will weaken the nation's currency Bloomberg [NEW YOBK] Billionaire Warren Buffett, who posted Berkshire Hathaway Inc's first annual losses from foreign currency investments last year, is still predicting the US dollar will erode. "I think over time, the dollar
      Bloomberg  -  390 words
  • Page 11 Advertisements
    • 41 11 Ift I Lianhe Zaobao J I Why are small shareholders I I worried I I downward I I trend for I I Sing Tel I I shares? I 1 I I WTV S I I 1 I I W J "Ipp
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    • 141 11 I GLORY SHIP 1 I MANAGEMENT PTE LTD I We invite suitably qualified H Master Mariners or Chief Officers Ift to apply for the following position(s): I Operations I Superintendent(s) (Tanker Fleet) I Working experience in Tanker operations, supervision of loading/discharging, safety Knowledge of Charter Parties, laytime j|| ■R calculations
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    • 397 11 increase your revenue by 10-fold in 8 days! A 'T Business School For Entrepreneurs is a highly intensive business IShBV Program where you will learn: |HL 'iiBW How to create true leverage through franchising and building of teams Stephanie Davis how to hire retain the right people for the right
      397 words

  • MALAYSIA/INDONESIA
    • 597 12  -  Mesdaq index rises 20% since January, Outperforming KLCI's 3.4% By PAULINE NG •1h Kuala Lumpur •ji"S performance last year *4S best forgotten. But the tech-heavy Mes»t£aq Market in Malaysia is ►Jetting off to a better start Itfiis year after falling to
      Source: Bloomberg  -  597 words
    • 66 12 SINGAPORE President S R Nathan yesterday visiting the Kalibata Heroes Cemetery in south Jakarta where many prominent Indonesian heroes are buried. The cemetery was established in 1953 as the final resting place for those who were awarded Indonesia's top national honours. Some of those buried here include
      WOO FOOK LEONG/LIANH£ ZAOBAO  -  66 words
    • 345 12 [KUALA LUMPUR] The identities of Proton Holdings Bhd's new foreign partners for strategic tieups, after Japan's Mitsubishi Motors Corp (MMC) and Volkswagen AG, will be announced by the end of April, Malaysia's Business Times reported. Proton MD Syed Zainal Abidin Syed Mohd said this
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    • 220 12 Bloomberg [JAKARTA] PT Bank Mandiri, Indonesia's biggest lender by assets, said profit slumped 89 per cent last year because it set aside more money to cover a surge in bad loans to companies. Net income fell to 603 billion rupiah (*****.3 million) or
      Bloomberg  -  220 words
    • 2328 12 VOl General Cofp 0 49 unch 81 M»M II W- CW| Gentmg 24.30 0JO 950 George Kent .0.56 -0.01 200 ASM Realty 138 unch 1 GHLSystems .020 unch ***** A 1 -0-33 0.01 47 Globetronics Tach 0.32 -0.01 687 ACP Industries 0.94 -0.03 333 Gtomac Bhd 1.24 -0.01
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  • Page 12 Advertisements
    • 853 12 NOTICES DB INVESTMENTS PTE LTD Co. Reg. No. *****4105H On Member's Vol. Liquidation) Final Meeting NOTICE IS HEREBY GIVEN pursuant to Section .308 of the Companies Act (Cap. 50) that the Final General Meeting of .the Members of the abovenamed Company will be held at the Office of M/s Wee
      853 words
    • 152 12 IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF CITIRAYA INDUSTRIES LTD (In Judicial Management) (Company Registration No. *****6445 M NOTICE TO MEMBERS OF CITIRAYA INDUSTRIES LTD (IN JUDICIAL MANAGEMENT) (the "Company") Take notice that pursuant
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  • GREATER CHINA/INDIA
    • 417 13 Cheaper oil and move towards full convertibility of rupee lift market AFP, Reuters [MUMBAI] India's main share index climbed past 11,000 points for the first time yesterday, spurred by cheaper crude oil and a move towards greater capital account convertibility. Analysts say
      AFP,; Reuters  -  417 words
    • 397 13 NSSF can boost its funding through H-share offerings [HONG KONG] The National Council for Social Security Fund(NSSF)has opened an account in the local stock market's clearing house, indicating that it has successfully lobbied mainland authorities to allow it to receive shares,
      397 words
    • BRIEFLY ASIA
      • 95 13 AFP [BEIJING] Russia will build two large-scale gas pipelines to China within five years, the head of Russian gas giant Gazprom said here yesterday after signing a deal with China's biggest energy firm. Gazprom chief executive Alexei Miller told reporters that the price
        AFP  -  95 words
      • 122 13 AFP [LUXEMBOURG] Luxembourg Economy Minister Jeannot Krecke expects to discuss Mittal Steel's bid for Arcelor during a trip to India at the end of the month although it is not the aim of the visit, a spokesman said on Monday. The Luxembourg government, which
        AFP  -  122 words
      • 102 13 AFP [LONDON] Tesco, Britain's biggest supermarket chain, and Indian telecom giant Bharti Enterprises are in talks to set up a possible grocery chain together in India, a British newspaper said yesterday. A senior executive from Bharti told the Financial Times that the company was
        AFP  -  102 words
      • 113 13 AP [TAIPEI] Taiwanese president Chen Shui-biari said yesterday there would be no change in commitments given to US, amid American concern over Mr Chen's scrapping of a government body dedicating to unifying with rival China. At a meeting with Stephen Young, the new US
        AP  -  113 words
      • 99 13 Reuters [BEIJING] China has revised its regulations governing share issues by listed companies to give firms more room to manoeuvre, state media reported yesterday. Under the new regulations, which bring China closer into line with international practice, listed firms may make private placements of new shares
        Reuters  -  99 words
      • 63 13 Reuters [JAKARTA] Indonesia will not boost electric power prices this year, President Susilo Bambang Yudhoyono said yesterday, despite a sharp increase in fuel prices late in 2005. "After we took the economy, industry and the fuel burden into consideration, we decided not to raise
        Reuters  -  63 words
      • 96 13 AP [KUAI.A LUMPUR] Unidentified attackers threw gasoline bombs at the homes of two senior officials of KFC's Malaysia operations, a news report said yesterday. No injuries were reported. The Molotov cocktails were thrown Saturday night at the homes of KFC Holdings (Malaysia) Bhd. Executive director
        AP  -  96 words
    • 222 13 Reuters [BEIJING] China hit back at the United States yesterday for a White House national security report that criticised its military buildup and trade policies, saying the remarks were "groundless" and harmed relations. The sniping comes ahead of a trip to Washington expected
      Reuters  -  222 words
  • Page 13 Advertisements
    • 132 13 Some stand at the crossroads of power and luxury. Some choose to own it all. J^ HHMMr* m ■P 'W V I The Lexus GS 300 228bhp V 6 i.o-hire erujine with du.ii VV T 1 <1 r ici h-speed <uitom<jtic tr<insmiv>ion Air < orirlillonir K) t'luit <mlom<iti( .illy senses
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  • ASIA-PACIFIC/WORLD
    • 790 14 They march into commercial district in Bangkok as Thaksin stays away By OUR CORRESPONDENT in Bangkok PROTESTERS moving around Bangkok seeking to oust Thai prime minister Thaksin Shinawatra yesterday targeted the Singapore Embassy on Sathorn Road. Demonstrators shouting "Thaksin get out!" forced the already
      790 words
    • 297 14 Bloomberg [SEOUL] Samsung Electronics Co, a leading chipmaker, said semiconductor profit will fall in the current quarter because of a glut of the components used in digital music players. Hwang Chang Gyu, who is the president of the semiconductor
      Bloomberg  -  297 words
    • 388 14 LATWP [NEW YORK] A federal appeals court on Monday threw out the criminal conviction of Silicon Valley financier Frank Quattrone, ruling that the judge gave faulty jury instructions at Quattrone's 2004 obstruc-tion-of-justice trial. The three-judge panel sent the case back to district court for retrial but,
      LATWP; AP  -  388 words
    • 403 14 Reuters, Bloomberg [SAN FRANCISCO] Business software maker Oracle Corp on Monday posted a 22 per cent rise in quarterly profit, buoyed by acquisitions, but its database software sales lagged forecasts. The company also affirmed its current-quarter profit and revenue forecast given in February,
      Reuters,; Bloomberg  -  403 words
    • 442 14 NYT [SAN FRANCISCO] Harnessing yet another data category to its searchengine prowess, Google is introducing a financial information service intended to compete directly with offerings from Microsoft, Yahoo and other sources, Google executives said on Monday. Google said the service. at http://finance.google, com, would distinguish itself
      NYT; BLOOMBERG  -  442 words
    • 386 14 LATEST US DATA Reuters [WASHINGTON] US producer prices fell a surprisingly steep 1.4 per cent last month, the biggest drop in nearly three years, as energy and food costs tumbled, but other prices rose 0.3 per cent in a sign of bubbling
      Reuters  -  386 words
  • Page 14 Advertisements
    • 110 14 Prime Residential Redevelopment Site in District 15 Heiwa Court East Coast Road H ft Freehold Hospital Site area 1 896.205q m (20,411 sq ft) •MP 1958 1980 Equivalent Plot Ratio f of 1.372 East CoaSt R<j St Patrick s •MP 2003 Plot Ratio of 1.4 CHI) Sec Sch pS Within
      110 words
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      95 words

  • MOTORING
    • 729 15  -  Modified SLK55 AMG will be used in races to be held in Malaysia, Indonesia and Thailand By SAMUEL EE DAIMLERCHRYSLER has formed a partnership with a Singapore company to promote a unique MercedesBenz AMG race series in Asia which will cost at least 3.5 million
      729 words
    • 927 15  -  VW's business plan was attractive, with big group's potential, says exec VP By GEOFFREY EU WHEN Germany's Volkswagen Group announced earlier this year that its proposed partnership with Malaysian carmaker Proton would not be going ahead after all, nobody was more deeply disappointed than Stefan Jacoby,
      927 words
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  • AVIATION
    • 747 16  -  NEWS ANALYSIS Observers fear national responses will be excessively protective By VEN SREENIVASAN [SINGAPORE] Could the global aviation industry be hit by another Severe Acute Respiratory Syndrome-like pandemic, only this time worse? Some industry insiders fear such an eventuality if the
      AP  -  747 words
    • 446 16 Bloomberg [CHICAGO] Delta Air Lines Inc, the third-largest US carrier, is adding international routes and more first-class seats to boost unit revenue closer to that of rivals, the company's chief of operations said. Delta's revenue for every seat flown a
      Bloomberg  -  446 words
    • 263 16 —AP [NEW DELHI] A planned US$5OO million merger between India's leading private carrier Jet Airways and rival Air Sahara appears to be injeopardy due to government questions about control of airport landing slots. The deal, which would create India's largest airline, could
      —AP  -  263 words
    • 301 16 Bloomberg [KUALA LUMPUR] Malaysian Airline System Bhd, the nation's largest carrier, will stop flying to six cities in Asia and Europe and reduce flights on other routes to help cut losses by as much as RM3O3 million (Ssl32 million). Starting April 1,
      Bloomberg  -  301 words
    • 132 16 Xinhua [HONG KONG] Dragonair posted year-on-year rises in both passenger numbers and cargo volumes for a second consecutive month in February. It flew 4.7 per cent more passengers in February than in the same month last year 392,005, compared with 374,550. As a
      Xinhua  -  132 words
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  • Page 16 Miscellaneous
    • 344 16 CRYPTIC CROSSWORD 1 War pilot set out with weapon to liquidate people 8 Members of the press gang 11 Ring a girl to come round yi~" LhJ Lmd LhJ ■■■12 soon (4) IB I 2 Rice drink for a monkey (4) ihi 3 He needs understanding first, then treatment (7)
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  • SHIPPING
    • 417 17  -  Security Council encourages members to protect merchant shipping By DONALD URQUHART [SINGAPORE] The United Nations Security Council backed International Maritime Organisation (IMO) calls for action over rampant piracy in Somali waters, urging member states to use naval vessels and military aircraft to
      AP  -  417 words
    • 429 17 Bloomberg [HONG KONG] Singamas Container Holdings Ltd, the world's second-biggest maker of shipping containers, made its first half-year-ly profit decline in six years after customers held off orders in anticipation of lower prices. Second-half net income fell 42 per cent to US$l6.B
      Bloomberg  -  429 words
    • 175 17 Bloomberg [WASHINGTON] SSA Marine, the biggest US-owned port terminal operator, said it is mulling selling or acquiring cargo terminals, a move that comes shortly after a Dubai company dropped plans to run six US ports after political opposition. SSA named Citigroup Inc to advise it
      Bloomberg  -  175 words
    • 475 17 AFP. Reuters [PORT KLANG, Malaysia] Malaysia yesterday urged insurance companies to remove the Malacca Strait from a list of dangerous waterways as it launched a new coast guard to boost security in the area. "We hope that the international insurance companies will
      AFP.; Reuters  -  475 words
    • 289 17 SGX '000 Maf 21 SS Vol CH Offshore 0.37 unch 188 ChuanHup 0.35 -0.01 1483 Cosco Corporation 1.21 -0.01 5337 CWT Distribution 1.04 unch 32 Ezra Hldgs 2.62 0.03 440 Freight Links 0.06 unch 361 Grand Banks Yacht 0.89 unch 0 Jaya Holdings 1.30 unch 1615 K1 Venture
      289 words
    • 287 17 Bloomberg (HONG KONG] Hutchison Whampoa Ltd, China Merchants Holdings (International) Co and other operators of Shenzhen port in southern China moved 6.8 per cent more containers in February as the nation's trade increased. Shenzhen, the world's fourth-busiest container port, handled 1.05 million standard
      Bloomberg; BLOOMBERG  -  287 words
    • 479 17 Demand for ships to transport iron ore sliding: brokers Reuters [SEOUL] Freight rates from the US Gulf to Asia drifted lower as demand for ships to transport iron ore lost momentum, but rates were supported on expectations of demand for South
      Reuters  -  479 words
    • 152 17 AFP [HANOI] Vietnamese police have launched an investigation into a collision between a Singaporean cargo ship and a local fishing vessel that killed eight fishermen last month, police said yesterday. "The ship's Romanian captain was accused of breaching regulations on operating maritime
      AFP  -  152 words
    • PORT SHOTS
      • 57 17 Bloomberg [MELBOURNE] Queensland state, the largest coal exporting state in Australia, said it approved AslB6 million (Ss2l6 million) worth of ports expansions to meet rising demand for the fuel in Asia. The state approved a Asll6 million expansion at Abbott Point, and As7o million will be
        Bloomberg  -  57 words
      • 74 17 AP [SEOUL] South Korean rescue workers searched yesterday for nine Chinese crew members presumed dead after going missing during a ship collision, the coast guard said. "All of them are believed to be trapped in the sunken vessel," said a coast guard spokesman. The 2,972-ton
        AP  -  74 words
      • 60 17 Bloomberg [WELLINGTON] Lyttelton Port Co, the biggest port operator on New Zealand's South Island, said shareholders should reject a bid by Christchurch City Holdings Ltd as it isn't high enough. The latter offered NZ$2.lO a share for the shares which are worth NZ$2.O5 to NZ52.35
        Bloomberg  -  60 words

  • ASIA PACIFIC MARITIME 2006
    • Article, Illustration
      756 18  -  By JOHN S SOUTHERDEN DEMAND for newbuilds, particularly very large container vessels, LNGs and product carriers, looks set to continue apace for the foreseeable future. Korean shipyards are undisputed leaders of the pack, followed by Japan and China. However, since the standard of living in Korea is comparable
      756 words
    • 893 20  -  Given the bullish market conditions, orders for floating production systems may touch 95 over the next five years, reports OH BOON PING OH BOOM PING THE market outlook for floating production systems continues to be bullish with orders for up to 95 FPSOs expected over
      893 words
    • 301 20 Innovation magazine SINGAPOREAN companies, especially Keppel Offshore and Marine and SembCorp Marine, are recognised leaders in design and fabrication of jack-up platforms for offshore oil and gas exploration and conversion of floating production systems. The companies usually fabricate these structures' major components in the yard
      Innovation magazine  -  301 words
    • 1104 21  -  Many ship repairers are worried as dry dock capacity in Asia is expected to increase by some 310% over the next five to seven years, says DAVID HUGHES i DAVID HUGHES THE past two to three years have seen freight rates for most sectors
      1,104 words
    • 198 21 TO BRING some glamour to a trade show. Reed Exhibitions has come up with a hit for the three-day Asia Pacific Maritime 2006 starting today at the Singapore Expo. It will weave in maritime products and hardware with the glitz of high fashion
      198 words
  • Page 18 Advertisements
    • 80 18 Asia Pacific MARITIME Our Heartfelt Gratitude to: Exhibitors, VIP Guests, Visitors, Supporting Organisations, Media Partners, ICHCA International, Delegates, Speakers and Vendors IHh nv. For making APM 2006 a success. See you soon at APM 2008,26 -28 March 2008! JL Organised by: Endorsed by: Held in: Reed Exhibitions exhibitions 3\f PO
      80 words
    • 84 18 Asia Pacific MARITIME Asia Pacific Maritime 2006 Singapore Expo Hall 3 March 22-24 10am-6pm An international maritime showcase. Admission is free to trade professionals OTHER EVENTS ■28th ICHCA International Biennial Conference THEME: Cargo Handling in the Globalised Marketplace ■Mock Maritime Arbitration ■Asian Shipbuilding Symposium THEMES: Ship building and repair business
      84 words

  • Page 19 Advertisements
    • 414 19 >1 4 *l Ji AIL 1 SI !1 1 ij||T l^W^^^^^^^^^fc^i" 2 Bt *"-i^-r"^^T^^ M 1 i "lfc T r j^B THE GRASS Pelepas FREE ZONE offers ready-built required for all FREE ZONE activities, warehouses suitable for distribution, I I%# I There's also the Green Lane Concept for consolidation and
      414 words

  • Page 20 Advertisements
    • 230 20 TUVALU SHIP REGISTRY QUALITY SERVICE QJJ ALI T Y FLAG 1. Low taxes 5. Worldwide network of surveyors 2. Agreements with lACS members 6. No restriction on nationality of ownership «r a t^lin~ y rArt'ifir^ t l anCe f 7 Tuvalu is a P art y to STCW 1987 convention
      230 words
    • 94 20 SHI POWNERS I. International Ship Registries (ISR) provides fast DK efficient service for registration licensing of International Ship Classification (ISClass) is an (g) independent organization providing classification is Class services for newbuildings existing vessels as well as statutory surveys certification on behalf Recognised by most major Flag States, RSO6 creates
      94 words

  • Page 21 Advertisements
    • 133 21 FEEL THE WARMTH OF THE WORLD'S BUSIEST PORT. AND WE'RE NOT TALKING ABOUT THE WEATHER. HBhs^EHUßl&jM** -dMmi-- ..-> y™ EM ■■h I > IJr- t i iTB in i ti i ""~'~^KKKr~' I \^/HT^La\" I fljljf j I 1 II ItJtMI «lil l 1 x! At PSA our dual commitment
      133 words

  • EDITORIAL & OPINION
    • 532 22 EDITORIAL WITH avian flu spreading across the world, businesses both here and elsewhere need to wake up quickly to the threat. An avian flu pandemic, while exacting a huge human toll, will also have an adverse impact on the economy and companies. An influenza
      532 words
    • 764 22  -  THE BOTTOM LINE FRANK CHING FOR the first time since it embarked on economic reforms 27 years ago, China has placed energy efficiency and environmental protection ahead of GDP growth. At the same time, it is putting new emphasis on agriculture and
      764 words
    • 1345 22  -  The MPA's attractive tax policies are key to keeping the Republic up there with the best By HO MUI PENG, UNA LEW IN 2005, the Singapore Registry of Ships (SRS) improved its ranking from the 6th to the sth largest registry in the
      FILE PHOTO  -  1,345 words
    • 1504 23  -  Recent moves by the Bush administration show it doesn't have a coherent foreign policy; it's just muddling through LEON HADAR Washington Correspondent MERICAN officials, ffl lawmakers and /M pundits have been analysing over-analysing is iPWHBHHk probably the right g term US mi wk President George W
      AFP  -  1,504 words
    • 1364 23  -  By MARTIN FACKLER NYT Mk ffl ITH Korea's aggressive II m electronics 111 conglomerates leading If \m the world's markets W W into the next frontiers of high technology, an unlikely commander is heading the charge: the government. South Korea makes more cellphones
      NYT; AP  -  1,364 words


  • 11018 24 SGX MAINBOARD Transaction date: Mar 21 52-Wk Id Last Vol Day Last Quote GrOiv Div GrYld Net MCap High Low Code Company Sate ('000) High Low Buyr Sa>«f Cvr P/t Smil 5 2 5716 IstSoftwareSc 2 unch 735 2 2 2 2.5 8.1 18.5 6 3148 8Telecom US2c
    11,018 words

  • 6080 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curt MS] In USS dy yr dy yr dy *y» Mar 30 Indt* Change Chanq« Ch«nq» Chinqe flung; i, lunge World i"de« Pre«nv.ari 1023.8 02 56 00 3 5 07 6f> t EAFE Pretorwvary ***** 05 67 03 59 0.5 ftO
    6,080 words

  • Page 26 Advertisements
    • 1043 26 t NYK GROUP SOUTH ASIA PTE LTD :f=* raTSR LINE Fax: 6292 2856 (Regional sales)/6239 7109 (OPS)/6299 5785 (Documentation) V NIPPON YUSEN KAISHA TOKYO K»»AKU KASHA. UD. (C/RNO: **********0E) UK CONTINENT SERVICE U.S.A SERVICE Destination Destination ERIKOUSA RDM/ATW/BMN/TLB/NAN HANJIN HOUSTON VCB/VCW/LAX/MZL Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia
      1,043 words
    • 805 26 IINTIKASIA RORO StNVICt vpsa/vor moron) hbghiuh) to kch lo I sin I jkt STRAITS VENTURE 06/06 IS 3.2 06/04 09/04 20/04 23/04 25/04 STRAITS VENTURE 07/06 IS 3.2 27/04 30/04 04/05 07/05 09/05 STRAITS VENTURE 08/06 IS 3.2 11/05 IS/OS 18/05 21/05 23/05 [AUSTRALIAN RORO SERVICE 1 VBSa/VOT RAMPED HBGHT(M)
      805 words

  • Page 27 Advertisements
    • 1723 27 WAN HAI INTERNATIONAL PTi LTD at no **********0/* V —"l TEL:*****588 (MUNIS) FAX:*****163 \AM\ WAN II A I I I MFC to*"* Sorrfc/Bookings Diroct Lko (1800) *****200 V I*A If Hll rift I LIIILJ na IB: (03) IMtnnFU: (01) 3)*****1 rw IB: (Ml *****00 NUL (04)*****99 V KIHIH: (07) HH923
      1,723 words
    • 1246 27 VESSEL VOY Ml JKT MIP PUS VESSEL VOY V JKT SUB HKG USN PUS_ HAKJIH POHANG 0302E '31/3 2/4 1/4 12/4 KMTC PUSAW 604S 26/3 29/3 30/3 4/4 8/4 9/4 HANJIN SEOUL 0300W 7/4 9/4 15/4 19/4 KMTC JAKARTA 604S 2/4 5/4 6/4 11/4 IS/4 16/4 VESSEL VOY SIN NSA
      1,246 words
    • 889 27 W WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VtSSEI VOY SIN P.KIANG COUMBRO N. SHEVA COLOMBO IMMKA GAWDHI 01Q?W 03AW MAW QLiffl liAtf UAH »ajivgaiidhi JllJlZtL ULAEL JIAH Iliß IZiB 2SUEB— ICOTA PtRTAMA YPMO3SII7 AW IBAPM 21 AW 24 APt 27 APH ALSO ACaPTIMG
      889 words

  • Page 28 Advertisements
    • 928 28 J A m uJ W: 65-*****907 fac *****917 Nordana (Asia) Pte Ltd EiiiAMrdaM^MniMsiaMi 70 ShentMi Way, #21-03 Marina House Singapar* *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES I VESSEL VOY Swoaoore Fr«—irie Cotos Ided Oirittus Islwml Jofcorto CWbtwos Island Porir ftrfww
      928 words
    • 783 28 («mi HHP iT/OJ wfe MCMfTMI M/ 01 M7M »w -«i~=ll==tl= wuitj inn ma I jgg__J |_Bjjju__ I «n I W> —"1™ SBb TOTI 85H5 W7S iffiS WUHI) SB! S7H 878 |ai 818 JB f -B|sss] I vissu Ivor \m cakwta hawa I rom maho JI Ml ffiJ Sfti gjjz jg=-§^—
      783 words
    • 371 28 BSA 4 MYANMA Rn FIVE STAR LINE (Myanmar National Line) Loading for Yangon VESSEL VOY Si m FBI Nil OflN SHWI HAW 90W SU) PAGAN 349W SIO IN MALAYSIA: BOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****368 PEN: 04-*****15 ACCEPTING CONVENTIONAL C6O VESSEL VOY WG SM PKL MAMNEEMRUM 33 24/03 25/03 KAVEOOAN 32
      371 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6688 29 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Name Name Number Number SIN Desfn Name Name Number Number 08/04 30/04 Kyowa TS SHANGHAI 605N *****233 To ABIDJAN (ABJ) 2003 Cote D'lvoire 11/04 30/04 Eurasia P KOTA wisata
      6,688 words

  • EXECUTIVE MONEY
    • 1341 30  -  MONEY MATTERS We may be only in the middle of a long upward cycle, with the interplay between three liquidity-related factors being the main driver LIM SAY BOON VEN as the more fearful struggle with memories of the downturns of the past
      1,341 words
    • 6112 30 UNIT TRUSTS FUNDS ACMGI Amer Income B USD 8.66/ ACMGI Amet Income A EUR 7.131 ACMGI Amet Income 8 EU* 7.13/ ABN Amro Asset Mgt (S'pore) ACMGI Eircp Income Opp AT SGD 15.02/ Star Europe Eqty'" -.0.937/ ACMGI Europ income Opp BT SGO 15.02/ Star Europe Bond 1169/ ACMGI Europ
      6,112 words
    • 610 31  -  It has launched a five-year fixed rate scheme starting with 3.99% By GENEVIEVE CUA NTUC Income wants to increase its mortgage lending by 50 per cent. The insurance cooperative recently launched a five-year fixed rate scheme, starting with an interest rate of
      610 words
    • 368 31  -  By Chua Boon Lee, Standard Poor's Associate, Fund Services Singapore equity funds THE Straits Times Index, Singapore's keenly-tracked barometer of the local equity market broke through the 2,500 barrier in March 2006 and is fast closing in on the record high of 2,582 established slightly over six years
      368 words
    • 1173 32  -  After recent robust gains, emerging markets may be seeing the beginnings of a bubble this year, some believe. Is there cause for concern? GENEVIEVE CUA finds out GENEVIEVE CUA MENTION "hot" investment ideas and global emerging markets easily spring to mind. But are they becoming
      1,173 words
  • Page 30 Advertisements
    • 34 30 AllianzGl Global Internet Fund Best Fund over 3 Years Allianz (jfi) I Equity Sector Information Technology ciobai investors I x Source: The Edge-Upper Singapore Fund Awards 2006 company re R n. no *****/169Z i
      34 words

  • Page 31 Advertisements
    • 202 31 Prime Residential Redevelopment Site in District 15 St Patrick's View St Patrick's Road m ~~1 Site area: 7,712.25q m (83,013 sq ft) •i East Coa 4L. o MP 1958 1980 Equivalent Plot «8S» Ratio of 1.372 A st Patrick's jp# SecSch •MP 2003-Plot Ratio of 1.4 (Katong) Within IKm to
      202 words
    • 390 31 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CEMENT BULK TERMINAL PTE LTD Co. Reg. No. *****5563 C (IN MEMBERS' VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the members of the Cement Bulk Terminal Re Ltd (the duly held at 16 Raffles Quay
      390 words
    • 547 31 1 "S*i£° P** "-?*>•.:-■ f W« Ili^fH real estate shares and REITs (minimum total dividend payments of 8% of Initial Issue Price 1 per Share in the first year 2 and potential coupons ■ABKHHBhH of 8% p.a of the net asset value of the Fund 3 thereafter.) Distributed by Managed
      547 words

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