The Business Times, 12 May 2006
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2006-05-12
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The Business Times
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Title Section15 2006-05-12 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Friday, May 12,200615 words
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561 2006-05-12 1 CHUANG PECK MING - By CHUANG PECK MING [SINGAPORE] Asia's booming economies are helping create ever higher staff turnover, but this has not led to big jumps in pay. The higher turnover reflects not just employees jumping from one company to another. Especially in Singapore, many have also561 words
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Article137 2006-05-12 1 Dsn 2.620.58 (-22.31) ST INDEX FUTURES 2,624.00 (-20.00) SIMSCI 311.68 (-2.74) SIMSCI FUTURES 311.60 (-2.10) MARKETS Thursday Change KLSE COMP 966.05 -0.57 NIKKEI 225 16,862.14 89.79 HANG SENG 17.140.78 +60.19 SET INDEX 782.50 -1.78 JAKARTA COMP 1.553.06 +13.66 MANILA COMP 2,550.79 +21.30 SEOUL COMP 1,464.70 +13.61 SHENZHEN B137 words
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Article, Illustration1082 2006-05-12 1 SIOW LI SEN - Fashion buyers gravitating towards Hong Kong with the recent mergers of mayor US retailers By SIOW LI SEN [SINGAPORE] The textile industry in Singapore is stitching together a new strategy, in the face of strong competition from Hong Kong. One worry isFILE PHOTO - 1,082 words
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Page 1 Advertisements
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Advertisement8 2006-05-12 1 OIL Java refinery seen as no threat PG38 words
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Advertisement61 2006-05-12 1 PURSUITS Wiiig and COMPANIES NOL Q1 profit dives 39% to USsl2om PG 4 J "mi, I y4K -***■—^>'< 1 i 1 n'jjj'". i "ggrr. jr v:' v -yV > i* "*V.^ N)f t^^^^^HlH fcsfflfl mm;; .Mi oumnfl^'. V_l|H|HM^H^^^^^H i~tfxT^' HTI flf 1 I '^Jwnlk^^^Kß JIBIB It i i a wVlliHn61 words
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TOP STORIES
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Article, Illustration813 2006-05-12 2 ANDREW MARKS - Fed statement may be ambiguous but a June rate increase is unlikely, they say By ANDREW MARKS in New York THE US Federal Reserve regime under new chairman Ben Bernanke was supposedly going to communicate its intentions on interest rate policyREUTERS - 813 words
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Article329 2006-05-12 2 Reuters THE following is the text of the US central bank's statement on interest rate policy issued at the close of its meeting on Wednesday: "The Federal Open Market Committee today decided to raise its target for the federal funds rate by 25 basis points toReuters - 329 words
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Article563 2006-05-12 2 Credit Suisse to boost its S'pore staff strength BANKING giant Credit Suisse is hiring 900 people in Singapore by end-2007 to support its global asset management, private and investment banking businesses. It is taking up 110,000 sq ft at One Raffles Quay on a lease in excess of563 words
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Article, Illustration498 2006-05-12 2 PAULINE NG - By PAULINE NG in Kuala Lumpur MALAYSIA is to exempt goods vehicles from its levy on foreign-registered vehicles driven across its borders. Malaysian lawmakers on Wednesday passed an amendment to the Road Transport Act to authorise the levying of an unspecified feeAFP - 498 words
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Article, Illustration469 2006-05-12 3 LESLIE YEE - It'll hire 900 more support personnel by end-2007, to be housed at new facility By LESLIE YEE [SINGAPORE] Banking giant Credit Suisse is hiring 900 people in Singapore by end-2007 to support its global asset management, private and investment banking businesses. Credit469 words
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Article, Illustration760 2006-05-12 3 RONNIE LIM - NEWS ANALYSIS By RONNIE LIM SINGAPORE refineries still have at least a "good" three to five years ahead with regional product demand continuing to outstrip supply before the cycle turns, industry sources reckon. They were commenting on reports yesterdayFILE PHOTO - 760 words
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732 2006-05-12 3 By OUR CORRESPONDENT in Bangkok SHIN Corp, Thailand's largest telecommunications conglomerate, yesterday reported a 10 per cent decline in its net profit, with lower contributions from its subsidiaries such as the mobile phone and the satellite transponder operations. Shin Corp, which is now 96732 words
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Advertisement107 2006-05-12 2 PRIME GOOD CLASS BUNGALOW AT 25 GALLOP ROAD, SINGAPORE Singapore (PRs subject to approval) Citizens/ PRs Tenure Freehold Land Area 1,475.7 sm (15,884 sf) approx Legal Description Lot 1093 C Mukim 2 Description Unusual 'French Provence' style Bungalow with superb interiors. Large entertainment areas looking out into wooded areas in107 words
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Advertisement14 2006-05-12 2 DeODle Hunting season K K has begun (Target: Private Bankers) www.thepeopleatwork.com Asta-Pacific Executive Search14 words
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Advertisement140 2006-05-12 3 jj| SB I I mjgor Hi I i aB M. mj €B€L THE ARCHITECTS OF TIME THE ARCHITECT SERIES Ebel proudly honors the legacy of Oscar Niemsyer and supports the vision of timeless architecture. Niter6i Contemporary Art Museum, 1996. Niterdi, Brazil. NGEE ANN CITY. Sincere Fine Watches, tei: 6733 0618140 words
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COMPANY NEWS
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Article, Illustration470 2006-05-12 4 DONALD URQUHART - Company points to rising fuel costs and softening freight rates By DONALD URQUHART NEPTUNE Orient Lines (NOL), operator of the world's ninth-largest container line, pointed to rising fuel costs and softening freight rates for the 39 per cent drop in net profit470 words
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Article, Illustration660 2006-05-12 4 MICHELLE QUAH - Group's Q2 earnings up 11.4%; APB's profit rises 8.6% By MICHELLE QUAH LISTED conglomerate Fraser Neave (F&N) has shed more light on its proposed real estate investment trust (Reit), saying it has submitted an application for its retail property trust to be660 words
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418 2006-05-12 4 UMA SHANKARI - By UMA SHANKARI THE Credit Suisse Group has lowered its rating on the Singapore property industry to "market-weight" from "overweight" for the first time in almost two-and-a-half years. Credit Suisse analysts pointed to the gains in the share prices of Singaporean developers as the reason418 words
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Article, Illustration356 2006-05-12 4 WBL Corp has announced the retirement of its chairman and executive director, Tang I-Fang, who will be given a retirement gratuity of $1 million. Veteran banker Wong Nang Jang, a director of OCBC, has been named non-executive chairman. Mr Wong, 66,356 words
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731 2006-05-12 4 VEN SREENIVASAN - HOCK LOCK SIEW By VEN SREENIVASAN IS Singapore Airlines headed into stormy skies? One would certainly think so, if one were to draw conclusions from the five per cent dive in the share price over the past two days. This comes on the731 words
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280 2006-05-12 5 PROPERTY developer UOL Group achieved a 31 per cent growth in net profit to $21.3 million for its first quarter, helped by a 28 per cent surge in revenue to $132.3 million. The year-on-year profit growth came despite "other gains" falling280 words
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CORPORATE RESULTS
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38 2006-05-12 5 BEAUTY China Holdings announced a 21.1 per cent surge in net profit to HK527.2 million (555.7 million) for the first quarter of 2006. Revenue increased 31.9 per cent to HK$B7.2 million.38 words
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Article47 2006-05-12 5 ISETAN (Singapore) grew first-quarter 2006 revenues 7.6 per cent to $71.9 million, while net profit rose 48.3 per cent to $3.5 million. Isetan expects positive consumer sentiments to continue into the next reporting period, what with the strong first-quarter GDP growth.47 words
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29 2006-05-12 5 ALLGREEN Properties grew revenue by 40 per cent to $69.3 million for its first quarter. Net profit rose 11.8 per cent to $12.1 million.29 words
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Article33 2006-05-12 5 WING Tai Holdings grew third-quarter revenues for 2006 by 52 per cent to $140.8 million, as net profit attributable to shareholders jumped 98 per cent to $11 million.33 words
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44 2006-05-12 5 SUPER Coffeemix Manufacturing announced record revenue of S$53.7 million for its first quarter ended 31 March 2006, a 21 per cent rise over the same period last year. Net profit declined 6 per cent to S$7.2 million.44 words
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29 2006-05-12 5 FASHION retailer FJ Benjamin grew third-quarter revenues 24 per cent to $46 million and net profits 28 per cent to nearly $1.6 million.29 words
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43 2006-05-12 5 CHINA Fishery recorded a 31.7 per cent growth in first-quarter net profits to US$21 million on the back of turnover of US$48.5 million, which was 55.6 per cent higher than for the corresponding period last year.43 words
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Article53 2006-05-12 5 ACCORD Customer Care Solutions narrowed its first-quarter loss to $2.65 million, from $3.79 million in the previous corresponding period. Revenue dipped 8 per cent to $69.6 million mainly because of the cessation of the Nokia contract in May 2005. It expects operating performance to improve in53 words
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37 2006-05-12 5 SARIN Technologies said net profit grew 65 per cent to US$2.5 million in the first quarter of 2006. Group revenue rose 50 per cent to US$8.5 million on broad-based customer demand.37 words
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330 2006-05-12 5 MATTHEW PHAN - Revenue surges 32% to 375.5 m yuan, operating profit at 142m yuan Reports by MATTHEW PHAN CONTINUING its strong performance, mainboardlisted Bio-Treat Technology posted a 15.5 per cent rise in net profit to 89 million yuan (Ssl 7.4 million) for its third quarter ended330 words
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Article, Illustration521 2006-05-12 5 Affiliate wins 2 China contracts worth 125m yuan ANALYSTS remain bearish on the shares of Hyflux, even as the water specialist said its affiliate, Hyflux Utility, has been awarded two more contracts in China, which have estimated total project costs of521 words
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Article, Illustration405 2006-05-12 5 SWATI CHAUDHARY - By SWATI CHAUDHARY CEREBOS Pacific will focus on fewer brands and extend its market reach in the region, the food and beverage company said. Long-time president and chief executive Eiji Koike, at a presentation of Cerebos's half-year results yesterday, highlighted theFILE PHOTO - 405 words
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Advertisement267 2006-05-12 4 ERU L L I ASSOCIATES Ke Y Responsibilities: Possess knowledgeable familiarity with key trends and concepts in retail and Cerulli Associates is an institutional asset management marketplaces outside the United States. international research Compile The Cerulli Edge—Global Edition on a monthly basis, as well as and consulting firm for the267 words
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Advertisement11 2006-05-12 5 FOR SUBSCRIPTION Tel: 6388 3838 Fax: 6744 1646 Email: circs@sph.com.sg www.eat-magazine.com.sg11 words
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Advertisement677 2006-05-12 5 m _k| FRASER AND NEAVE, LIMITED (Company Registration No. *****0001R) (Incorporated in the Republic of Singapore) Results Announcement Highlights for the 2nd Quarter Ended 31 March 2006 The directors are pleased to announce the unaudited results of the Group for the 2nd Quarter ended 31 March 2006. 2nd Quarter to677 words
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SINGAPORE MARKETS
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Article, Illustration512 2006-05-12 6 R SIVANITHY - STOCKS Many stocks rise before the General Election and results announcements and fall after the events R SIVANITHY Senior Correspondent BUY in anticipation, sell on news" played a central role in trading this week the Straits Times Index rose sharply ahead of last Saturday's GeneralSource: Bloomberg - 512 words
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Article, Illustration1023 2006-05-12 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on May 11 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Sto<* Date Director Sell "000 Shr S ('000) ('000) Sup Fastening 11-May-06 Lam Tak Shing *Sell 5000 0.15 ***** 33.50 9697 22.10 Chuan Hup 11-May-061,023 words
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Article, Illustration924 2006-05-12 6 MATTHEW PHAN - Compiled by MATTHEW PHAN SIA Engineering Co May 11 dose: $3.76 JPMORGAN, May 11 WE EXPECT SIA Engineering (SIE) to sustain its strong performance over the next few years as it continues to enjoy the ftill benefits of the additional hangar capacity (up 25 per cent), along with aSource: Bloomberg - 924 words
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Article, Illustration511 2006-05-12 6 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent OVERNIGHT news from both the US Federal Reserve Bank and the US Treasury combined to buy the US dollar a much-needed respite from selling pressure in Asia yesterday, but fears about its health fur- ther out refused toSource: Reuters - 511 words
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SINGAPORE NEWS
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Article, Illustration372 2006-05-12 7 NANDE KHIN - Take advantage of current robust economy, says Manpower Minister By NANDE KHIN MANPOWER Minister Ng Eng Hen yesterday urged small and medium-sized enterprises (SMEs) to take advantage of the current robust economic conditions to implement flexible wage systems now. Dr Ng was speakingLIANHE ZAOBAO - 372 words
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440 2006-05-12 7 SIM PING KHUAN - By SIM PING KHUAN SIX organisations will receive government funding totalling $2.14 million under The Enterprise Challenge (TEC) to develop four innovative projects. The six are Alexandra Hospital, the Civil Aviation Authority of Singapore (CAAS), Nanyang Technological University (NTU), National University of Singapore (NUS),440 words
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355 2006-05-12 7 MICHELLE QUAH - By MICHELLE QUAH THE lawyer for Singapore Democratic Party chief Chee Soon Juan and his sister, Chee Siok Chin, has amended their defence filed on Wednesday against the defamation suit brought by Minister Mentor Lee Kuan Yew and Prime Minister Lee Hsien Loong.355 words
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351 2006-05-12 7 MICHELLE QUAH - By MICHELLE QUAH THE Monetary Authority of Singapore (MAS) has fined an individual $50,000 for attempting to artificially boost the share price of a Singapore-traded stock. MAS took the civil penalty enforcement action against Frank Kuhn Swi Wha, who tried to351 words
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277 2006-05-12 7 Event provides opportunity for local firms to interact with regional investors SINGAPORE will host in July over 600 regional investors and venture capitalists at an annual event to celebrate the spirit of entrepreneurship. Organised by the Action Community for Entrepreneurship (ACE) and partners, Blue277 words
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SINGAPORE ROUNDUP
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59 2006-05-12 7 ALEXANDER Downer, Australia's Minister for Foreign Affairs, will visit Singapore from Sunday to Tuesday. The Ministry of Foreign Affairs says he will call upon political leaders including Prime Minister Lee Hsien Loong, Senior Minister Goh Chok Tong, and Deputy Prime Minister, Co-ordinating Minister59 words
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71 2006-05-12 7 SOME 600 volunteers are needed for Singapore Biennale 2006 (SB2006) to work behind the scenes at the inaugural international exhibition of contemporary art. The volunteers will be able to assist in jobs ranging from an exhibition tour guide to an artist liaison officer. The71 words
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40 2006-05-12 7 Reuters THE Singapore operation of Mitsubishi UFJ Financial Group (MUFG), has laid off about 30 employees as part of restructuring at the world's largest financial group by assets, it was announced yesterday.Reuters - 40 words
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Advertisement129 2006-05-12 7 Diners Club Card A World of Exclusive Privileges Treats Diners Club wwtc.Jmers.com.sg International Vinotique Wine Cellar i jw --"A' i < i k 1 JtUiUU: ItJjtlVUi < It f99 99 J J I 1 ?J JI i f„ 7 K 1 Ji I-f 3 V *-i- jlJ JL •■••fffjj* J129 words
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Advertisement169 2006-05-12 7 Hcq 2W MctkeXX t>m OJk o 13 14 MAY 0 M INTERNATIONAL BUFFET Lunch: Adult $32 Child $19 Dinner: Adult $42 Child $22 Come In a company of 6 to M receive a deluxe dining jet Plus, r a chance to win dining vouchen iHHHi and luxurious spa treats from169 words
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Advertisement93 2006-05-12 7 Y;ilu<* M< k ;tK ;il r /Ml urn |M I nnn Hull I iirr rlioirc ol roltcnlc.isoluhinl.s Menu Nasi Goreng Hainanese Chickcn Rice Katsu Don Kampong Fried Rice Sliced Fish Thick Beehoon Soup Singapore Laksa Fried Thai Style Kway Teaw (Pahd Thai) Grilled Chicken with Prata Bread Cordon Bleu Supreme93 words
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Advertisement80 2006-05-12 7 V Surpassing the C CREEK S Ver y eSt °fNZ s Sauvignon (BCancs fj/gjtt 90 Points, Smart Buy B Highest rated wine in the New Zealand/Australian category March 2006 Wine Spectator Blue GoldSydney International Wine Competition 2006 Gold Air NZ Wine Awards 2005 Gold Wines for Asia 2005 40 Holland80 words
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ECONOMY WATCH
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490 2006-05-12 8 Lawmakers react with anger to Treasury Dept's ruling in its report Reuters [WASHINGTON] The US Treasury Department ruled on Wednesday that China was not a currency manipulator, angering lawmakers who say Beijing keeps its yuan undervalued at a cost to Americans inReuters - 490 words
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225 2006-05-12 8 Reuters [BElJlNG] China will continue to improve its currency regime and provide for greater flexibility in the yuan while keeping the exchange rate stable at a suitable and balanced level, a Foreign Ministry spokesman said yesterday. He was responding to a reportReuters - 225 words
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574 2006-05-12 8 JOHN M BERRY - By JOHN M BERRY Bloomberg WHAT a powerful word "yet" can be in the hands of Federal Reserve officials. The Federal Open Market Committee on Wednesday raised its overnight lending rate target by a quarter-percentage point, to 5 per cent, as everyone expected.Bloomberg - 574 words
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Article5877 2006-05-12 8 UNIT TRUSTS FUNDS ACMGI Amer Income 8 USD 8.52/ ACMGI Amer Income A EUR 6.66/ im a ACMGI Amer Income B EUR 6.66/ M t(S P 0 ACMGI Europ Income Opp AT SGO 15.07/ V* vfJSL ?fC ACMGI Europ income Opp BT SGO 15.07/ S 1 IS ACMGI "°P lncome5,877 words
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Advertisement36 2006-05-12 8 m DIT Europazins Best Bond Europe Fund over 5yrs category Alllanz (St) P rated AA by Standard Poor's. ciobai in»«to,r Source: The Ec, 9 e Ll PP er Singapore I unci Awards 2005 'company no *****7169Z36 words
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MALAYSIA
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473 2006-05-12 9 S JAYASANKARAN - CLSA said Bursa most expensive exchange in global peer basket By S JAYASANKARAN in Kuala Lumpur SHARES of Bursa Malaysia have surged despite at least one broker's call early last month that the counter was overbought. French securities house CLSA had recommended473 words
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233 2006-05-12 9 [KUALA LUMPUR] Malaysia's Securities Commission (SC) will announce the country's first Islamic real estate investment trust (Reit) "very soon", the StarBiz quoted chairman Zarinah Anwar as saying. The SC had received two Islamic Reit applications since the guidelines were released last November,233 words
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Article375 2006-05-12 9 [KUALA LUMPUR] Bursa Malaysia will introduce the first batch of six new indices on June 26, with the remaining indices scheduled to be added to the exchange in stages beginning yearend, the Starßiz reported. The first six new indices are the FTSE Bursa Malaysia375 words
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BRIEFLY ASIA
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124 2006-05-12 9 Bernama [KUALA LUMPUR] Iris Corporation Bhd, which has seen heavy trading activities in recent weeks, was yesterday declared as designated securities with immediate effect. The decision was made by Bursa Malaysia Securities Bhd in consultation with the Securities Commission (SC). The counter has beenBernama - 124 words
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103 2006-05-12 9 Reuters [SINGAPORE] China's State Grid Corp is planning to sell power plants with combined capacity of 9,200 megawatts to raise several billion dollars, two banking sources close to the plan said yesterday. State Grid, which owns and operates more than half of China'sReuters - 103 words
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125 2006-05-12 9 Reuters [BEIJING] China's central bank yesterday criticised a report released earlier this month by accounting firm Ernst Young, saying it seriously misrepresented the volume of bad loans in the market. In a review of the global bad loan market, Ernst and Young saidReuters - 125 words
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134 2006-05-12 9 Reuters [HONG KONG] New rules are expected to be unveiled today that could lead to Hong Kong-listed Chinese firms being added to the benchmark index, possibly by year end. Overseers of the Hang Seng Index plan to release details of their quarterly review thisReuters - 134 words
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Article2408 2006-05-12 9 VOL Gamuda .4.26 0.02 734 M«y11 RM C000) General Corp 0.68 0.01 183 Genting .24.40 -0.30 1244 ASM Realty 1.42 unch 0 George Kent .0.60 unch 107 Abnc 040 003 406 GHL Systems 0.28 -0.01 4961 ACP Industries 1.19 0.04 415 Globetronks Tech 0.34 -0.01 3043 Advance Synergy2,408 words
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Advertisement423 2006-05-12 9 ASIA PACIFIC BREWERIES LIMITED WIS (Company Registration No. *****0007K) (Incorporated in the Republic of Singapore) Results Announcement Highlights for the 2nd Quarter Ended 31 March 2006 The Directors are pleased to announce the unaudited results of the Group for the 2nd Quarter ended 31 March 2006. 2nd Quarter to 6423 words
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GREATER CHINA/INDIA
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Article, Illustration810 2006-05-12 10 SIDDHARTH SRIVASTAVA - A more secure Left seen as good for India's coalition and reformist PM By SIDDHARTH SRIVASTAVA in New Delhi LEFTIST parties have emerged victorious in the assembly elections in the two crucial Indian states of Kerala and West Bengal for a record810 words
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433 2006-05-12 10 [MUMBAI] Anand Jain, the childhood friend of Reliance Industries Ltd (RIL) chairman Mukesh Ambani, is floating a large venture capital fund with RIL backing to invest in real estate and retail projects across the country, industry sources told the Economic Times433 words
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Article, Illustration565 2006-05-12 10 Reuters [KOLKATA] Indians the world's largest consumers of tea are developing a taste for a new brand of drink Chinese green tea, attracted by its medicinal properties. Chinese tea, which is taken without sugar or milk, is now on top of the menuReuters; REUTERS - 565 words
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461 2006-05-12 10 [HONG KONG] Hutchison Whampoa is planning to take its loss-making Australian mobile unit private just as it becomes the world's only pure 3G telecommunications stock after the planned closure of its 2G network in August, according to the South China Morning Post (SCMP).461 words
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312 2006-05-12 10 Bloomberg [HONG KONG] Bank of China, the nation's secondlargest lender, plans to sell U552.26 billion of shares to 12 corporate investors as part of its HK576.7 billion (5515.5 billion) initial public offering, according to a sale document. The Beijing-based lenderBloomberg - 312 words
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343 2006-05-12 10 [HONG KONG] Hongkong Land, whose shares are traded in Singapore, has increased the size of a planned syndicated loan by 40 per cent to HK$7 billion (Ssl .4 billion) amid strong demand, The Standard reported a banking source as saying. Hongkong343 words
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ASIA-PACIFIC/WORLD
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WORLD WATCH
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99 2006-05-12 11 AP [GENEVA] The World Trade Organization has upheld a ruling that European countries broke international trade rules by stopping imports of genetically modified foods, officials said yesterday. The verdict, handed out confidentially, found that the European Union had an effective ban on biotechAP - 99 words
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100 2006-05-12 11 Bloomberg [NEW YORK] News Corp, the media company run by Rupert Murdoch, said third-quarter profit jumped, driven by higher earnings at its cable-TV and Fox broadcast networks. The board doubled a share buyback programme to US$6 billion. Net income doubled to US$B2O millionBloomberg - 100 words
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69 2006-05-12 11 Reuters [LUXEMBOURG] Steel maker Arcelor has decided to take legal action in the US against its unsolicited bidder Mittal Steel, alleging patent infringement, an Arcelor spokesman said yesterday. He said the action concerned so-called Usibor steel technology, used in the automobile industry. "WeReuters - 69 words
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120 2006-05-12 11 Bloomberg [NEW YORK] Insurer American International Group said first-quarter profit declined 16 per cent as the value of derivative investments fell and the company severed more ties with its former chairman Maurice Greenberg. Net income dropped to US$3.2 billion from US$3.B billion aBloomberg - 120 words
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128 2006-05-12 11 AP [MOUNTAIN VIEW, California] Google said on Wednesday that it is adding a new tool to make it easier to share information through its online search engine and enabling users to download miniapplications, or "widgets", designed to become fixtures on a computer screen.AP - 128 words
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Article, Illustration533 2006-05-12 11 It nearly doubles investment in three years to meet flash memory demand AFP Reuters [TOKYO] Japanese electronics maker Toshiba Corp unveiled an ambitious plan yesterday to invest 2.04 trillion yen (5528.8 billion) over three years to boost output of computer chips andAFP; Reuters; REUTERS - 533 words
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387 2006-05-12 11 Reuters [WASHINGTON] Weaker-than-expected April retail sales signalled slower US growth as petrol prices bit, data showed yesterday, bolstering views that the Federal Reserve will pause its interest-rate hike campaign next month. In addition, jobless claims were higher than forecast lastReuters - 387 words
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501 2006-05-12 11 Bloomberg [SYDNEY] As many 67 stocks in Asia were added by Morgan Stanley Capital International (MSCI) to its global indexes. Forty of the 64 companies that will be dropped came from Asia, the most of any region. Malaysia had the most deletionsBloomberg - 501 words
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Article, Illustration710 2006-05-12 11 ANTHONY ROWLEY - ASIA INSIGHT West against bank's push for closer Asia integration ANTHONY ROWLEY Tokyo Correspondent ASIAN Development Bank annual meetings, whether held in Hyderabad, Istanbul, Shanghai or less exotic places have one rather depressing feature in common. And that is the lecture that "preachy"710 words
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531 2006-05-12 11 Nasdaq increases LSE stake to 24.1 Move piles pressure on UK bourse to accept a takeover Bloomberg [NEW YORK] Nasdaq Stock Market Inc raised its stake in London Stock Exchange pic to 24.1 per cent, the fourth increase in a month, stepping up pressure on LSE chief executive officer ClaraBloomberg - 531 words
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Advertisement184 2006-05-12 11 1 wwrn&m. j ETIKA INTERNATIONAL HOLDINGS LIMITED Company Registration No. *****3131Z The Company hereby gives notice that the Register of Members and Share Transfer Books of the Company will be closed on 29 May 2006 for the preparation of dividend warrants. Duly completed registered transfers received by the Company's Share184 words
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AVIATION
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Article, Illustration644 2006-05-12 12 Carrier flew more passengers and booked gains from a stronger baht Bloomberg (BANGKOK] Thai Airways International pel, the country's biggest airline, reported its most profitable quarter in more than six years as it flew more passengers and booked gains from aBloomberg; BLOOMBERG - 644 words
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398 2006-05-12 12 Bloomberg [SHANGHAI] Star Alliance, the world's largest group of airlines, said it has delayed inviting Air China to join, as rival Oneworld continues to woo the country's biggest international carrier. Star Alliance will announce Air China's membership "in a matter of a few weeks",Bloomberg - 398 words
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Article, Illustration343 2006-05-12 12 AP [BERLIN] German airline Lufthansa said yesterday that even though it lost money in the first quarter as it struggled with rising fuel costs, there were reasons for optimism. The airline, Germany's largest, reported that it lost 98 million euros (Ssl9s million) in theAP - 343 words
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177 2006-05-12 12 Bloomberg [LONDON] British Airways pic yesterday won an unfair dismissal case brought against it by employees who formerly worked for a rival airline. A pilot and cabin services director at British Caledonian Airways, which was taken over by British Airways in 1988, challengedBloomberg - 177 words
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199 2006-05-12 12 AFP [KUALA LUMPUR] Malaysian low-cost carrier Air Asia will renew a sponsorship deal with Manchester United worth. US$5.6 million in a move officials are hopeful will further woo foreign tourists to Asia. "Hopefully, we can ink the deal in a week. TheAFP - 199 words
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451 2006-05-12 12 NYT [NEW YORK] Airbus, facing a growing chorus of doubts from customers, is expected to radically redesign its midsize plane, the A 350, in a move that could give Boeing the upper hand in a critical segmentNYT - 451 words
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Article2222 2006-05-12 12 <nr maw eta wt m> kbs9 oeos amsi 162s 4i4yp iqpp 5Q408 18S5 AtoMuM SQ455 1135 DmpnirM SQ141 1145 SQ142 0935 MdlHl LH9771 1750 LW9770 2345 S0143 153S VF541 1630 W30 1750 SQ2» jjj45 1640 5Q146 1640 Ahmdabad S0443 0625 A***** 1805 GAM1 1755 AailHw L*****2,222 words
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SHIPPING
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Article, Illustration647 2006-05-12 13 Combined Toll and Patrick will have full-year sales of about A$8b: Toll Bloomberg [SYDNEY] Patrick Corp, acquired by Toll Holdings Ltd after a battle for dominance of Australia's freight market, said first-half profit rose 8.2 per cent as earnings fromBloomberg; BLOOMBERG - 647 words
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252 2006-05-12 13 [MANILA] An explosion rocked an oil tanker undergoing repairs west of the Philippine capital of Manila, triggering a fire that injured two workers before it was contained, officials said yesterday. Coast Guard chief ViceAdmiral Arthur Gosingan said welding work was being done252 words
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1006 2006-05-12 13 SELVA KUMAR - ADMIRALTY CASEBOOK By SELVA KUMAR NOTHING in the International Regulations for the Prevention of Collisions at Sea (Colregs) provides a broad or blanket exemption from the rules for any situation at sea on the basis that it is a special circumstance,1,006 words
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194 2006-05-12 13 Bloomberg [BANGKOK] Precious Shipping pel, Thailand's biggest sea-transportation company by market value, said first-quarter profit fell 51 per cent as vessel and bunker-fuel expenses soared and freight rates fell. Net income fell to 889.5 million baht (Ss37 million) in the threeBloomberg - 194 words
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526 2006-05-12 13 They battle rising global capacity, pressure on freight rates, oil costs Reuters [TOKYO] Mitsui OSK Lines Ltd and Kawasaki Kisen Kaisha Ltd, Japan's second* and third-largest shipping firms, yesterday forecast larger than expected profit declines for this business year. They are weighedReuters - 526 words
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215 2006-05-12 13 Reuters [TOKYO] Nippon Yusen KK, Japan's biggest shipping line, and leading parcel delivery group Yamato Holdings Co said on Wednesday that they would form a capital tie as part of a sea, air and land transport alliance. Under the deal, Yamato gets accessReuters - 215 words
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Page 13 Advertisements
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Advertisement317 2006-05-12 13 CSL Asia Shipping Re Ltd is a wholly owned subsidiary of the CSL Group inc. CSL was founded in 1845 and is a Canadian company headquartered in Montreal, Quebec with offices in Australia, Canada, Singapore and the United states. CSL specializes in owning and operating self-unloading dry bulk cargo vessels317 words
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Advertisement1361 2006-05-12 14 First Quarter Results 2006 jfffTk nOb 10 Managing The Global Supply Chain I fjRJ A Financial highlights (Incorporated in Bermuda with limited liability) (unaudited) (unaudited) Three months ended Three months ended 31 March 2006 31 December 2005 SGD'OOO SGD'OOO Turnover Increased Over Turnover 4,510,034 4,250,957 4Q 2005 By Cost of1,361 words
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Advertisement2137 2006-05-12 15 First Quarter Results 2006 -flfh pqb 16 Managing The Global Supply Chain |^q (Incorporated in Bermuda with limited liability) Turnover by Business Segment (continued) Inventories. Inventories were U*****.6 million as of March 31, 2006 and U*****.1 million as P of December 31, 2005. As of March 31, 2006 inventories included2,137 words
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EDITORIAL & OPINION
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Article501 2006-05-12 16 EDITORIAL THE idea that some governments are a drag on their countries' competitive edge may surprise some, perhaps particularly Singaporeans accustomed to the notion of political leaders in the driving seat, charting directions and leading the economy forward. As the latest World Competitiveness Yearbook points out, a nation's501 words
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Article, Illustration743 2006-05-12 16 HARISH MEHTA - THE BOTTOM LINE HARISH MEHTA INDIAN farmers were told that the new genetically modified seed, Bt Cotton, is resistant to the boll weevil, the prime pest that devastates cotton crops. Many, particularly in the provinces of Maharashtra and Andhra Pradesh, invested a743 words
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Article, Illustration1462 2006-05-12 17 MICHELINE MAYNARD - Its car industry is losing ground to foreign carmakers as the demographics of its suburbs take on an Asian flavour By MICHELINE MAYNARD NYT FANS of the Detroit Red Wings hockey team have booed plenty of opposing teams over the years at Joe Louis Arena, butNYT; BLOOMBERG - 1,462 words
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Article, Illustration973 2006-05-12 16 ROBERT H FRANK - Prize for economics eluded him because he was right for the wrong reasons By ROBERT H FRANK THE Nobel Prize in economics is not given posthumously. So John Kenneth Galbraith, who died last month at 97, will never receive one. Yet Dr GalbraithPHOTOS: BLOOMBERG (TOP), AP - 973 words
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Article, Illustration935 2006-05-12 17 ANDY MUKHERJEE - ANDY MUKHERJEE Bloomberg INDIAN housewives who are using red chillies to season their curries are giving up spicy profits. Forget stocks. Go easy on real estate. Take a break from gold. Right now, one of the hottest trades in India is chillies.Bloomberg; REUTERS - 935 words
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Page 17 Advertisements
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Advertisement46 2006-05-12 17 t Inviting tenders? Call 1800 289 8822 or email notiees@sph.eom.sg to book your tender notice in our newspapers now. NOTICES Iff *I lonwhy I I S'pore is I I China's I I best partnerl I in I the world i I OlMifrnTn I i>y wtf«rC l«WMI46 words
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FOCUS: THAI POLLS
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Article, Illustration1207 2006-05-12 18 It may be delayed by up to five months as election officials refuse to resign even though last month's elections have been nullified by court; investing community hopes new polls will boost confidence of both local and foreign investors By OUR CORRESPONDENT in BangkokREUTERS, AP PHOTOS - 1,207 words
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Page 18 Advertisements
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Advertisement45 2006-05-12 18 ftMMMMMNI- «•> M'%m- -<-, .*->' '*i**.-,s-* P-',i«XMUJIWWIIJLIIWIim. =3B?=i Get a Leading Edge Your sailing schedules get wider attention in The Business Times shipping pages J Call Bernard Ong at 6319-1 645 or Michael Chng at 631 9-2062 mgummmm lIII'H If Minnrii iQfii'"' P f mm imm rn limnmwmmmmmmmmmmwmmwmmmMmmmmHmmmmiWmmmmmMMmmmmmmmMmMMßmmmmmMMßmmmmmmMmmMmmmMmmmmMm45 words
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Article11228 2006-05-12 19 SGX MAINBOARD Transaction date: May 11 52-Wk T«t Last Vol Day Last Quote GrOiv Div GrYld Net MCap High Low Mi Company Sate ■*■<• ('000) High Low »uy«r Sdfar S Cyr P/I Smil 5 1 5716 1st Software 5c 3 +0.5 230 3 2.5 2.5 3 12,1 1711,228 words
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Article6469 2006-05-12 20 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local cwr In SS In USS %y%i) y tiyr May lnde> Chany Change Change Change ChanQt Chanqa toklintaft«n«a| 10HI -OA 74 -05 *9 -43 115 J EAft Preliminary 1060 7 -0 6 90 -06 105 0,4 174 Europe Preliminary 14H3 -04 9£6,469 words
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Page 21 Advertisements
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Advertisement1891 2006-05-12 21 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination NASSAU PARADISE RDM/ATW/BMN/TLB/NAN TIAN SHAN HAI CAM/NFK/SAV/NOL GO PRIDE RDM/ATW/BMN/UK/NAN Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE UAU SERVICE Destination DOMINATOR ADN/HDD/JDH/AQA Destination PAN DYNAMIC DBI/ABU/DOH/NRN/DMM/KWT QUOC TU GIAM INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia1,891 words
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Advertisement717 2006-05-12 21 jINTERASIA RORQ SERVICE VCSa/VOT RAMKKTI HBGHUM) WG KOI IQ SW JKT STRAITS VENTURE 08/04 IS 3.1 11/05 IS/OS 18/05 21/05 23/05 STRAITS VENTURE 09/04 15 3.2 25/05 21/05 01/06 04/06 06/06 STRAITS VENTURE 10/06 1 5 3.2 08/06 H/06 15/06 18/06 20/06 1 AUSTRALIAN RORQ SERVICE VBSa/VOY RAMKKT) HBGHTWI Id717 words
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Advertisement2701 2006-05-12 22 VESSEL VOY SIN JKT MJP PUS VESSEL VOY SIN JKT SUB HKG DSN PUS HANJIN KWANGYANG 0273E 12/5 14/5 20/5 24/5 KJHITC SINGAPORE WiT 14/5 17/5 18/5 23/5 27/5 28/5 CAPESANTIAGO 0017E 19/5 21/5 27/» 31/5 KMTC KEELUNG 606S 21/5 24/5 25/5 "30/5 3/6 4/6~ VESSEL VOY SIN USA JEA2,701 words
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Advertisement911 2006-05-12 22 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS YtSSfl VOY SIM P.KLANG COIOMRO N. SHEVA COiOMSO INDIRA GANDHI 0103W 08 MAY WW 12 MAY 15 MAY 18 MAY RAJIV GAWDHI WW T7Mir ~jSiT~ OMIT ?4 MAY ~JTW KQIA PtRTAAAA YPMO37 MAY 23 MAY ?t911 words
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Page 23 Advertisements
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Advertisement956 2006-05-12 23 MNordana (Asia) Pie Ltd 70 Shtnfon Way, #21-03 Marina House Singapore *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES VESSEL VOY Swqopwe frewontle Gkos IslawJ OiristiMs lsk»d PosirG»dwo Mmd&ym Z_IISM Qittm UMa ZLMa Uy 07 Jun lsl n d IMS QUjid liJyo956 words
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Advertisement1106 2006-05-12 23 STf? k -jgg— '4m ras m nm HIBSM 331 «fiMi I mtf ligii* I ii/t! j I mmi n'm Bfc -Ssio —BiL. Kai nam ii/w ii'/ii wuitau nn raj M 1""' I !lit I 1 m IMB I si?j iiiii 1 iiiii 1 mmammmmim *b= i fl i^|^|gg^ lisgj i,a1,106 words
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THE BUSINESS TIMES SHIPPING TIMES
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6547 2006-05-12 24 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Oest'n Name Name Number Number SIN Oest'n Name Name Number Number To HAIPHONG (HPH) 2147 Vietnam TO ABIDJAN (ABJ) 2003 Cote D'lvoire 20/05 27/05 Gemartrans PLATINUM DIAMOND 37N *****662 23/056,547 words
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EUROPE SPOTLIGHT
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Article, Illustration871 2006-05-12 25 The elegant Swiss city is reinventing itself as a new destination for artists, shoppers and the young and hip weekend tourists NYT ZURICH, for all its reputation regal, moneyed, hyper-effi-cient and safe has in recent years become a very different city, one ofNYT; AP - 871 words
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Advertisement241 2006-05-12 25 ALL you need to do is to answer these two questions correctly. Correct answers from qualify for an electronic lucky draw at noon on May 31,2006. The prize courtly of Qatar is a return economy air ticket for two persons to Madrid, Spain. Z', ll^B How to take part: SMS241 words
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PROFILE/ARTS
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Article, Illustration828 2006-05-12 26 PARVATHI NAYAR - Author Ben Slater tells PARVATHI NAYAR what made him write the story about the making of the only Hollywood movie shot entirely in Singapore PARVATHI NAYAR A LITTLE nugget about Singapore's lost history and the truth of a whispered urban myth about Singapore are whatARTHUR LEE - 828 words
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291 2006-05-12 26 PARVATHI NAYAR - THEATRE By PARVATHI NAYAR MAN of Letters is a specially commissioned musical that will be staged as the grand finale arts event of the centennial celebrations of the National University of Singapore (NUS). The piece brings together many local talents such291 words
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Article, Illustration269 2006-05-12 26 PARVATHI NAYAR - DVD By PARVATHI NAYAR ICE Harvest fills you with anticipation as it seemingly has all the necessary ingredients to rustle up some cool film noir: great male leads in John Cusack and Billy Bob Thornton, with Connie Nielsen as the femme fatale; the269 words
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249 2006-05-12 26 PARVATHI NAYAR - CINEMA By PARVATHI NAYAR "WHERE'S Jimmy?" 18-year-olcl Sonia (Deborah Francois) asks 20-year-old Bruno (Jeremie Renier), her boyfriend and father of their nine-day-old son in The Child. "I sold him," Bruno replies, "we'll have another." In this beautifully crafted tale by Belgian249 words
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487 2006-05-12 26 PARVATHI NAYAR - CINEMA By PARVATHI NAYAR SIGNS of age or the paucity of new material, but the problem is that many of us still remember the excitement of watching The Poseidon Adventure, on which the current, snappily titled Poseidon is based. The 1972 production was arguably487 words
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416 2006-05-12 26 PARVATHI NAYAR - By PARVATHI NAYAR THERE is to be a weekly showcase of films by or about Singaporeans, starting in June and lasting for six months. The initiative is called Cine Singapore 2006, or Cine.SG. Singapore may be a nation of movie-goers but the416 words
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Page 26 Miscellaneous
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Miscellaneous86 2006-05-12 26 CRYPTIC CROSSWORD 22 d^tsTr^s s 15- 5r YESTERDAY'S 29 Secured by woman in the van- 1 sued, 5 Glassier, 6 Lectured Distinguard (7) guished, 8 Division, 9 Understand--4 Disembarking without per- (4) ng 15 Gat 17 Djatrib 19 DOWN i sonal property? Anything 6 Barrier with small rope at- Restage,86 words
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WINE
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Article, Illustration938 2006-05-12 27 EVAN GOLDSTEIN - Women leading wine purchasers and drinkers in the US take a holistic approach in making their choice, says EVAN GOLDSTEIN EVAN GOLDSTEIN WHEN most people think of wine, they have dusty old imagery of pompous (and generally overweight) men in the role of the wine connoisseur.FILE PHOTO - 938 words
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Article1022 2006-05-12 27 N K YONG - By N K YONG UNDER the French laws governing inheritance, it is becoming more and more difficult for family-owned wine properties to remain in family hands. Not surprisingly, the number of Bordeaux chateaux remaining in family hands is slowly but surely diminishing. In 1998,1,022 words
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Page 27 Advertisements
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Advertisement22 2006-05-12 27 Correction In last week's wine column, mention was made of a Chambertin Clos de Beze 1006 That, of course, was a 1996.22 words
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executive lifestyle
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Article, Illustration1785 2006-05-12 28 GEOFFREY EU - Industry players tell GEOFFREY EU about the dilemma of protecting creators and allowing access to good design GEOFFREY EU INNOCUOUSLY displayed along one of the many shelves at X-Tra, a high-end furniture store in Park Mall, the elegant Toledo chair a simple yet stylish item immaculately finished inFILE PHOTO - 1,785 words
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Page 28 Advertisements
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Advertisement13 2006-05-12 28 PROFILE Hollywood's secrei date with ;r J Sir w° re U PG 2613 words
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