The Business Times, 19 May 2006

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Total Pages: 34
1 34 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Friday, May 19,2006
    15 words
  • 913 1  -  US stock losses will not dent local firms' profits By TEH HOOI LING [SINGAPORE] No need to panic, say fund managers and analysts as Singapore stocks with those of Wall Street and the region tumbled again after a brief respite yesterday. The Straits Times Index
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  • 137 1 sn 2,502.18 (-46.51) ST INDEX FUTURES 2.502.00 (-49.00) siMsa 298.76 (-5.28) SIMSa FUTURES ***** (-6.50) MARKETS Thursday Change KLSECOMP 947.78 -10.62 NIKKEI 225 16,087.18 -220.49 HANG SENG *****.52 -349.03 SET INDEX 748.30 -14.06 JAKARTA COMP 1.400.85 -61.31 MANILA COMP 2,378 74 -84.83 SEOUL COMP 1.365.15 -36.32 SHENZHEN B
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  • 752 1  -  A Yantai listing on SGX will mark Brian Chang's return By NANDE KHIN [SINGAPORE] Former Promet boss Brian Chang may finally be making a comeback to Singapore's corporate scene through a listing for his Yantai Raffles Shipyard. Yantai listed on the
    752 words
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  • TOP STORIES
    • 710 2 Sharp falls likely to be start of deeper pullback in regional markets: analysts AFP Reuters [HONG KONG] Asian stocks were sold of brutally yesterday after a brief respite as US inflation data rattled Wall Street and raised the spectre of further interest rate
      AFP; Reuters  -  710 words
    • 205 2 LATEST US DATA Reuters AP [WASHINGTON] A key forecasting gauge for the US economy fell an unexpected 0.1 per cent in April, a report from a private research group showed yesterday. The fall in the US Index of Leading Indicators defied market expectations
      Reuters; AP  -  205 words
    • 423 2 Luxury terminal at Changi will be Asia's first CHANGI Airport will boast Asia's first stand-alone luxury terminal offering five-star facilities and services to the jet-set class. The aim is to attract discriminating travellers and business jet users who want to avoid the hustle and bustle ofChangi's main terminals.
      423 words
    • 762 4  -  By MIKE CHUA [SINGAPORE] G Kannan is all geared up for the World Cup literally. With the clock ticking down to the kick-off on June 9, he is often seen in the colours of the Argentine soccer team even at
      762 words
    • 382 4  -  Facility aimed at travellers who want to avoid bustle of main terminals By VEN SREENIVASAN [SINGAPORE] Changi Airport will boast Asia's first stand-alone luxury terminal offering five-star facilities and services to the jetset class. Located at the 2,000 sq m former VIP
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    • 736 4  -  It seeks immunity from competition laws, could pose challenge to rivals By VEN SREENIVASAN [SINGAPORE] Australian carrier Qantas aims to put all its airline subsidiaries and associates under one operating umbrella to create a pan-Asian entity which could pose a
      736 words
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  • Page 3 Advertisements
    • 434 3 r ~1 20 May 23 May 2006, 11 am 7pm The Great Hall,. Milienia Walk; Uw\u H< m a?< i In his relentless puisuit nl pertet 11 nl; his art, Vianne\ I lalter has reated some ol the most auda( ions wat< lies in horologi< al hislorv. 1 h<■ l.issi(
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  • Page 4 Advertisements
    • 178 4 Enjoy great discounts atthe^^^ Thailand Grand 15 June 15 August 2006. Special tour packages and discount booklets available at authorized agents. Be Our Honoured Guest In 2006, come celebrate with us in a Grand Festival of Events to commemorate His Majesty King Bhumibol Adulyadej's sixtieth anniversary of ascension to the
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  • COMPANY NEWS
    • 750 6  -  Among them are GuocoLand's The Quartz and Lippo's Newton One By KALPANA RASHIWALA SEVERAL projects are being put on the market this week. These include at least two project previews The Quartz, GuocoLand's 99year leasehold project next to Buangkok MRT Station which
      LIPPO  -  750 words
    • 496 6  -  by MICHELLE QUAH LAWYERS for former Member of Parliament Lew Syn Pau and executive chairman of Broadway Industrial Group Wong Sheung Sze fought yesterday for the case against their clients to be dismissed, arguing that the men had not
      496 words
    • 524 6  -  HOCK LOCK SIEW By WONG WEI KONG SEMBAWANG Music may well become the next oil and marine play in town, once control of the group has changed hands. This may not be as far-fetched as it sounds, given strong grounds to suggest that the
      524 words
    • 294 6  -  By LESLIE YEE PROPERTY-BASED UOL Group is pumping a further $62.52 million into Marina Centre Holdings (MCH) the company that owns Marina Square for another 10 per cent stake. This will raise its holding in MCH to 22.67 per cent, making
      294 words
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    • 71 6 Fly our new Business Premier with a partner to New Zealand on Air New Zealand and enjoy 85% savings on the companion fare. That's right Both you and your companion stretch out lie-flat beds V* 39,000 feet above ground or on New Zealand inspired and wine. What blissl 1 Upgrade
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  • SINGAPORE MARKETS
    • 533 8  -  STOCKS STI tumbles 46 points taking its loss since its all-time high on May 3 to 157 points or 6% R SIVANITHY Senior Correspondent THERE'S an old saying in the stock market that the trend is your friend until it bends. Similarly,
      Source: Bloomberg  -  533 words
    • 1002 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on May 18 and earlier) Subsantial No of Wee SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock pate Director Sell 000 Shr S 000) (000) ITE Electric 18-May-06 Toh Giap Eng Buy' 480 na 7565 9.78 8045 10.40 CSE Global 18-May-06
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    • Article, Illustration
      890 8  -  Compiled by MATTHEW PHAN Neptune Orient Lines May 18 dose: $2.15 KIM ENG RESEARCH. May 17 IQO6 earnings take direct hit firom fuel: Neptune Orient Lines (NOL) recently reported IQO6 net profit of US$l2O million, down 39 per cent year-on-year. Escalation in fuel-related and land transport costs dampened
      Source: Bloomberg  -  890 words
    • 540 8  -  CURRENCIES LARRY WEE Senior Correspondent A SHARPER than expected rise in core US consumer prices forced bears of the US dollar to scramble wildly for cover in overnight trading. The same price data instigated sharp falls in the prices of US stocks and
      Source: Reuters  -  540 words

  • Page 9 Advertisements
    • 205 9 §S§ f 3T§ ifK, mp T2sk 16 May 2006 Hole-in-One Sponsor for Par 3 Holes 6 17 Of Society jg Assoc. Prof. Ho Peng Kee mm 6 Senior Minister of Stale, K I»» Ministry of Law and Home Affairs Mercedes-Benz E-aassE2ooKompressor MM Corporate Donors From (L-R): Mr Gerry Wyndorf, President
      205 words

  • THE CFO INTERVIEW
    • 1125 10  -  BT kicks off a new weekly series on chief financial officers with an interview with United Overseas Bank's Lee Wai Fai By SIOW LI SEN CHIEF financial officers can sometimes find the job frustrating and humbling when people expect them to know everything that's happening in
      ARTHUR LEE  -  1,125 words
  • Page 10 Advertisements
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  • COMPANY NEWS
    • 540 11  -  It decides to pay at least 30% of net profits as dividend for FY2007-FY2009 By AMIT ROY CHOUDHURY FRONTLINE Technologies Corporation has adopted a dividend policy of paying at least 30 per cent of net profits for its current and next two financial years.
      540 words
    • 563 11 Profit forecast stays unchanged at 6-9 US cents per ADR Bloomberg STATS ChipPac Ltd, Southeast Asia's largest chip tester, reiterated its forecast to turn to a profit in the second quarter and for sales to rise, helped by consumer electronics such as Apple
      Bloomberg  -  563 words
    • 154 11 Reuters [JAKARTA] Indonesian shipping company PT Berlian Laju Tanker Tbk plans to list its shares on the Singapore Exchange (SGX) in June or July, a business newspaper reported yesterday. Berlian's finance director was quoted as saying that the company hoped to raise
      Reuters  -  154 words
    • 355 11  -  By KRITI SINGH EU YAN SANG, a healthcare group focused on traditional Chinese medicine, said in a corporate presentation yesterday it expects the business conditions for the group to continue to improve for the rest of its current financial year. The group
      355 words
    • 388 12  -  Semi-submersible drilling platform order is fourth from Maersk Contractors By CONRAD RAJ ORDBRS for rigs continue to flow to Keppel Fels (KepFels), despite the emergence of new players at home and abroad. The Singapore company said yesterday it has won a contract to build
      388 words
    • 409 12  -  By RONNIE LIM AN initial oil flow of 3,200 barrels per day (bpd) worth more than US$2OO,OOO at current prices from the latest appraisal well at Indonesia's Jeruk field is "quite promising", a Singapore Petroleum Company (SPC) source said yesterday. SPC has
      409 words
    • COMPANY BRIEFS
      • 78 12 SEATOWN Corp's net loss for its half year ended March 2006 widened to $4.71 million from $1.31 million in the previous corresponding period. This was attributed mainly to losses from the disposal of a subsidiary and its precast concrete manufacturing business. Turnover plunged
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      • 65 12 YEO Hiap Seng (Malaysia) Berhad said that it had on May 10 received a legal notification regarding a suit filed in Jakarta by PT Kharisma Inti Persada, claiming about 150.7 billion rupiah (5526.6 million) for an alleged breach of an alleged distribution
        65 words
      • 63 12 JOINT Asian Derivatives Exchange (Jade), a venture between the Chicago Board of Trade and Singapore Exchange, said that its first Asian-based commodity derivatives product to trade on the all electronic exchange will be based on a natural rubber grade called Technically Specified Rubber 20 (TSR
        63 words
      • 65 12 TT INTERNATIONAL'S net profit rose to $11.7 million in 2006 financial year compared to $3.14 million in 2005 financial year, which had a one-off write-down of $9 million relating to a warehouse property acquired by the Singapore government under the Land Acquisition
        65 words
    • 5651 12 UNIT TRUSTS FUNDS ACMGI Amer Income A EUR 6.63/ ACMGI Amer Income B EUR 6.63/ ACMGI Europ Income Opp AT SGD 15.2/ ABN Anwo Asset Mgt (S'pore) ACMGI Europ Income Opp BT SGD 1521 Star Europe Eqty'"* 0921/ ACMGI Europ Income Opp AT EUR 7 53/ Star Europe Bond 1
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    • 77 11 mm BBumß mm *f; X C-1 *j THE PAN-WEST ANNUAL WAREHOUSE SALE 18-21 May 2006 Only at Golf Bargains outlet ODYSSEY H JTourEdae TOptfiFLiTE Fo"L T£ fN CUTTER BUCK. 1 Terms conditions: Strictly while stocks last The Club card holders are not eligible for further discounts No exchange, return or
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  • Page 12 Advertisements
    • 34 12 DIT Europazins Best Bond Europe Fund over 5yrs category Allianz (Hi) w rated AA by Standard Poor s. Global investors Vy Source: The Edge-Upper Singapore Fund Awards 2005 company no *****7169Z 4§s M|0 W
      34 words

  • KEPPEL.CLIPPER – ROUND THE WORLD
    • 1518 13  -  The fifth leg of the race, from China to Canada, was a perilous and freezing adventure, reports BT journalist and sailor VINCENT WEE VINCENT WEE SHHMMN O BE very honest, sitting down to write after completing long, tiring ocean passages is not something 1
      INGRID ABERY  -  1,518 words
    • 214 13 Clipper Ventures [VICTORIA, Canada] Under bright Victorian sunshine, the Clipper fleet set sail towards Panama City after a hugely popular stopover in the Canadian waterfront city. This leg from Canada, which started on Wednesday afternoon, is split into two races with the first stage
      Clipper Ventures  -  214 words
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  • SINGAPORE NEWS
    • 553 14  -  Selling the assets made their companies more focused Reports by UMA SHANKARI CHIEF executives of global hotel chains yesterday defended a recent and potentially troubling trend the way hotel operators have been selling off their assets to focus on management. The
      FILE PHOTO  -  553 words
    • 309 14 GIOVANNI Angelini, chief executive and managing director of Shangri-La Hotels and Resorts, was honoured yesterday for exporting the Shangri-La brand even further around the world. Mr Angelini picked up the Asia Pacific Hotelier of the Year award at the 9th Asia
      309 words
    • 219 14  -  By CHEN HUIFEN ONLY 20-30 per cent of companies here are actively engaged in helping their workers manage their health which is not enough if Singapore wants to tackle chronic illnesses effectively, according to National Healthcare Group (NHG) chief projects officer Jason Cheah.
      219 words
    • 488 14  -  By WONG WEI KONG THE Crimson Logic trial has taken an unusual turn, with defence lawyers put on the stand to give evidence on a statement they took from a key witness in the case. Drew Napier lawyers Wendell Wong and
      FILE PHOTO  -  488 words
    • 323 14  -  By CHEN HUIFEN ORGANISATIONS that carry out research on genetically modified organisms (GMOs) will need to have their research proposals assessed by an institution bio-safety committee from now on, according to guidelines released yesterday by the Genetic Modification Advisory Committee (GMAC). In addition,
      323 words
    • 583 14  -  New Family Relations Centre will also be set up By CONRAD RAJ THE Subordinate Courts will be introducing a slew of measures, including establishing a Community Court and refining procedural measures, to better administer and serve justice in Singapore under its 15th Workplan. Chief Justice
      FILE PHOTO  -  583 words
    • 248 14  -  By LESLIE YEE CITIBANK is enhancing its Ready Credit line of lending so applications can be processed within an hour and customers who are approved can draw their funds straight away. At present, a bank can take up to a fortnight to process an
      248 words

  • ECONOMY WATCH
    • 577 15 Higher-than-expected CPI fuel fears that Fed will raise interest rates Reuters (SINGAPORE] Asian currencies resumed their slide against the US dollar yesterday, with the Indonesian rupiah losing as much as 3 per cent, after stronger-than-expected US inflation figures reignited
      Reuters; AFP  -  577 words
    • 348 15 AFP [KUALA LUMPUR] Malaysia's central bank chief hinted yesterday that there was more room for another interest rate rise, saying that three hikes over the past six months have not hurt the economy. Amid speculation that the Bank Negara's monetary policy
      AFP  -  348 words
    • 395 15 Opec trims demand forecast but says China still hungry Reuters [SEOUL] Oil prices fell towards US$6B a barrel yesterday, pressured by rising US gasoline inventories and concern that high energy costs are leading to inflation that could slow demand. US light crude
      Reuters  -  395 words
  • Page 15 Advertisements
    • 180 15 jitions Prices stated are per person for a round trip on First or Business Class to Europe for travel out of Singapore from 1 May '06. The return travel and hotel stay must be completed by 30 Oct '06 Bookings are to be made from 1 May-30 Jul '06 Price
      180 words

  • MALAYSIA/INDONESIA
    • 473 16  -  Deal will make Daikin world's second-largest aircon maker By S JAYASANKARAN in Kuala Lumpur JAPAN'S biggest air-condi-tioner maker, Osaka-based Daikin Industries, said yesterday it will acquire Malaysian tycoon Quek Leng Chan's OYL Industries for RM7.6 billion (553.3 billion), or RM5.73 a share.
      473 words
    • Article, Illustration
      57 16 [JAKARTA] An Indonesian student takes part in an anti-Suharto protest in front of the presidential palace here. Dozens of students protested yesterday, calling on the government to bring former Indonesian president Suharto to court. Indonesia's attorney-general had said his office had stopped pursuing graft charges against Mr
      REUTERS  -  57 words
    • 512 16 [JAKARTA] The Indonesian government will turn down the request from Mexicanbased cement giant Cemex SA to approve an offer from the Rajawali Group to purchase Cemex's shares in state-owned cement maker PT Semen Gresik (SG), according to a report in The Jakarta Post, citing
      512 words
    • 181 16 Bernama [KUALA LUMPUR] Bank Negara Malaysia governor, Zeti Akhtar Aziz, said Malaysia still has the competitive edge to become the international Islamic financial centre due to the country's comprehensive Islamic financial system. Malaysia also has a range of diversified Islamic products
      Bernama  -  181 words
    • 586 16  -  By SHOEB KAGDA in Jakarta SINGAPORE'S business community in Indonesia, which has been growing steadily over the past few years, can now play a greater role in their adopted country's economy with the inauguration of the Singapore Chamber of Commerce Indonesia (SCCI). In announcing the setting
      586 words
    • 2254 16 vol Gamuda 1 JO -020 782 May 11 MM W- (*000) General Corp.. _442 -0.02 166 Genting 33.90 -0.10 130 AIM Realty 1.36 -0.01 34 George Kent- -0J» -0.01 42 Abric 034 -0.02 128 GHl Systems 034 -0.02 ***** ACPInduatries 1.05 4.04 106 GkibetronksTech -032 441 1J75 Advance
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  • Page 16 Advertisements
    • 254 16 C E R U L. L Acer. riATFq K *y R—POntlbilM—: Possess knowledgeable familiarity with key trends and concepts in retail and ran .lii Acc/viatec i« an institutional asset management marketplaces outside the United States, international research Compile The Cerulli Edge—Global Edition on a monthly basis, as well as support
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    • 1 16 v
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  • GREATER CHINA/INDIA
    • 422 17 Merger would create US$40b titan with 10% share of global steel output Bloomberg [BRUSSELS] Mittal Steel Co officially launched its 21 billion euro (5542.4 billion) offer for rival Arcelor SA yesterday, seeking a tie-up that would merge the world's two largest steelmakers into
      Bloomberg  -  422 words
    • BRIEFLY ASIA
      • 81 17 Reuters [MUMBAI] Tata Steel Ltd, India's largest private-sector steel maker, reported yesterday a 14 per cent fall in quarterly profit, below analysts' estimates as excess supplies weighed on prices. It said net profit fell to 7.83 billion rupees (***** million) in the
        Reuters  -  81 words
      • 74 17 Bloomberg [KUALA LUMPUR] Shares in MMC Corp, a Malaysian builder and port operator, fell the most in two years on concern its financial costs will soar after it acquires power plants for RM 16.8 billion (557.36 billion) in cash and assumed debt. The stock
        Bloomberg  -  74 words
      • 44 17 Bloomberg [HONG KONG] Star Group, the Asian satellite television unit of Rupert Murdoch's News Corp, and PCCW Ltd, Hong Kong's largest phone company, said they formed a venture that will set up pay-television services in Asia. —Bloomberg
        Bloomberg  -  44 words
    • 372 17 Bloomberg [SHANGHAI] China ended a year-long ban on initial public offerings, testing a rally that made the Shanghai stock market the world's best performer in the past month. The China Security Regulatory Commission said it would accept IPO applications beginning
      Bloomberg  -  372 words
    • 440 17 Stellar gains on other bank IPOs fuel gambling fever despite bank's bad loans Bloomberg [HONG KONG] Hong Kong resident Sindy Wong says she plans to apply for HK$3 million (S$610,000) of Bank of China (BOC) shares, betting almost three times her annual salary on
      Bloomberg  -  440 words
    • 558 17 Bloomberg [SHANGHAI] China's government said it will adjust tax, land and loan policies to "correct" distortions in the property market, stepping up efforts to cool home prices that jumped 15 per cent in the first quarter in Beijing
      Bloomberg; REUTERS  -  558 words
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  • ASIA-PACIFIC/WORLD
    • 1008 18 ANALYSIS NYT (NHW YORKJ Only a week ago, the Dow Jones Industrial Average was on the verge of a record high. Without much fanfare, the Dow the bestknown indicator of the stock market's performance seemed about to regain all
      NYT  -  1,008 words
    • 531 18 But a compliance deadline for them will be briefly postponed again Reuters Bloomberg [WASHlNGTON] Small companies will not be exempted, as some of them had hoped, from a post-En-ron rule to bolster corporate financial controls, but standards underlying the rule will change, said
      Reuters; Bloomberg; BLOOMBERG  -  531 words
    • 522 18  -  By AMIT ROY CHOUDHURY THE world may be entering the most creative era in human history as it witnesses a dramatic increase in the number of thinkers in the world, coming mainly from the new middle classes that had previously
      522 words
    • 651 18 Listed companies report robust growth in earnings By OUR CORRESPONDENT in Bangkok DESPITE the ongoing political uncertainties and the gradual slowdown in investments in the country, the Thai corporate sector seems to be showing robust performance, going by the data from the Stock Exchange
      651 words
    • WORLD WATCH
      • 67 18 Reuters [LONDON] One of the largest shareholders of Euronext is willing to consider a merger between the pan-European stock exchange and NYSE Group Inc, the New York Stock Exchange's parent company, the Wall Street Journal reported yesterday. Atticus Capital, which owns about 9 per cent
        Reuters  -  67 words
      • 52 18 Bloomberg [NEW YORK] Richard Stengel, a long-time writer and editor at Time magazine and the former head of its website, was named its managing editor. He will oversee the four million circulation news weekly and its web site, Time.com, which draws three million visitors a
        Bloomberg  -  52 words
      • 71 18 AP [TOKYO] Sanyo Electric Co yesterday reported that net loss grew to 205.7 billion yen (552.9 billion) in the 12 months ended March 2006, compared with a loss of 171.5 billion yen a year earlier. The result was better than the 233 billion
        AP  -  71 words
      • 79 18 Bloomberg [TORONTO] Falconbridge Ltd CEO Derek Pannell said Xstrata Pic's unsolicited C 516.1 billion (5522.8 billion) cash offer doesn't reflect fair value and that he prefers a friendly merger with Inco Ltd. Xstrata on Wednesday said it would pay C 552.50 a share for the
        Bloomberg  -  79 words
      • 61 18 AP [NEW YORK] Former US president Bill Clinton has struck a deal to write another book. It does not yet have a title. He plans to tell the stories of those he has met and in some cases he will go back and interview them
        AP  -  61 words
      • 48 18 Bloomberg [SYDNEY] News Corp may be reinstated to Australia's benchmark stock indexes under proposed changes by the Australian Stock Exchange Ltd and Standard Poor's. It was removed from the S&P/ASX 200 in 2004 after it relocated its headquarters to the US.
        Bloomberg  -  48 words
  • Page 18 Advertisements
    • 369 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF STORTEBOOM INTERNATIONAL ASIA PTE LTD (Incorporated in the Republic of Singapore) Co. Reg. *****8001Z (In Members' Voluntary Liquidation) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the members of the abovenamed company deemed to have
      369 words

  • Page 19 Advertisements
    • 5243 19 1 I r, L 1 Toll free: 1800-289-8822 Email: notices@sph.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND JIT FOONG CONSTRUCTION PTE LTD (Co. Rej. No. *****0578N) NOTICE TO CREDITORS (Application under 5.344 of the Companies Act, Cap. 50) Take note that the abovenamed company:a) had ceased business
      5,243 words
    • 140 19 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF QRANTCHESTER PTE LTD (In Members' Voluntary Liquidation) Reg. No. *****3117N NOTICE OF FINAL MEETINQ NOTICE 18 HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the abovenamed Company
      140 words

  • AVIATION
    • 439 20 Reuters [KUAIJV LUMPUR] A transatlantic trade row over subsidies to aircraft makers remains unresolved because the United States has shown no sign of wanting to negotiate, European Union trade chief Peter Mandelson said on Wednesday. Washington has criticised EU state loans to plane
      Reuters  -  439 words
    • 334 20 AFP [BANGKOK] Thailand's aviation authority said yesterday that it would certify next week that Bangkok's new international airport is ready for operation, clearing the way for commercial traffic as early as July. The Department of Aviation said it would certify the long-delayed
      AFP  -  334 words
    • 322 20 Reuters [BANGKOK] Airports of Thailand PCL (AOT), the country's main airport operator, plans to invest 24 billion baht (*****.7 million) in its 2006/07 financial year and reduce some landing fees, officials said yesterday. "The budget will be used mostly on
      Reuters  -  322 words
    • 921 20 CITY HJ6MT ETA FUCHT FTP Sg4jj7 Abu Dhabi SQ4S5 1135 iL.[i <<*»41 11« S0147" "0935 —m l s§229 ;s8 m ii 5Q443 0&5 ]|8| 1900 a T¥m 5855 ¥ii m a M \I% i l^| 56 Eg ||pi MJgJ L ill ll wis "II11 aa. y;|
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    • 53 20 [LONDON] The world's biggest passenger airliner, the Airbus A3BO. on its final approach to London's Heathrow Airport yesterday. The airliner landed at Europe's busiest airport to test Heathrow's readiness for the superjumbo. It will stay at a specially designed pier for airport compatibility tests before returning
      AP  -  53 words
    • 192 20 Bloomberg [SINGAPORE] Singapore Airport Terminal Services Ltd (SATS), the ground-handling unit of Singapore Airlines Ltd (SIA), said it handled 9.8 per cent more passengers last month, as more people flew to and from the country. The company handled 2.31 million passengers at Changi Airport
      Bloomberg  -  192 words
    • 383 20 Bloomberg [SYDNEY] Qantas Airways Ltd, Australia's biggest airline, will eliminate 1,000 management and administration jobs by the end of the year as part of a costcutting drive to counter record fuel prices. "We have decided to reduce management, support and
      Bloomberg  -  383 words
    • 218 20 AP [NEW DELHI] The state-run airline Indian has warned its air hostesses and male stewards to shape up or be grounded, an airline official said yesterday. The airline has withdrawn a 3 kg excess weight grace and decided to ground
      AP  -  218 words
    • 252 20 Bloomberg [TOULOUSEI Air FranceKLM Group, Europe's biggest airline, said fourthquarter profit fell 30 per cent as oil costs surged. Fuel expenses rose 41 per cent to 871 million euros (Ssl.B billion). Net income fell to seven million euros in the three months
      Bloomberg  -  252 words

  • SHIPPING
    • 549 21 Firm developing 10 ports as part of expansion, says Li Ka-shing Bloomberg [HONG KONG] Hutchison Whampoa Ltd, the world's biggest container-terminal operator, has more than 10 ports in development and has no plans to sell more port assets, billionaire chairman Li Ka-shing
      Bloomberg; FILE PHOTO  -  549 words
    • 825 21  -  ADMIRALTY CASEBOOK By SELVA KUMAR A US court has made what appears to be the strongest statement so far that the per package limitation under the US Carriage of Goods by Sea Act (COGSA) applies regardless of whether the carrier actually
      825 words
    • 410 21 Daewoo narrows loss as demand pushes up prices Bloomberg [SEOUL] Hyundai Heavy Industries Co, Daewoo Shipbuilding Marine Engineering Co and Samsung Heavy Industries Co, the world's three largest shipyards, improved operating results in the first three months of the year, as record crude oil
      Bloomberg  -  410 words
    • 427 21 [HONG KONG] Tianjin Port Development Holdings closed the retail portion of its initial public offering on Wednesday almost 1,700 times covered, setting a new record for Hong Kong and ensuring the stock will be priced at the top of its indicated range, the South
      427 words
    • 154 21 Reuters [HANOI] Vietnam's staterun shipbuilder, Vinashin, has won a contract worth US$l billion to build eight car carriers for an Israeli firm, company officials said. The Vietnam News daily newspaper quoted the unlisted Vinashin as saying the car carriers, designed by Italy's Naval Progetti
      Reuters  -  154 words
    • 287 21 SGX '000 May 18 S$ W- Vol CH Offshore .0.37 -0.01 755 ChuanHtp .0.33 -0.01 1902 Coko Corporation 1.32 -0.02 ***** CWT Distribution 1-20 -0.02 86 Ezra Hldgs 3 46 -0.06 1319 Freight unks 0.07 -0.01 1633 Grand Banks Yacht 0.85 -0.02 10 Java Holdings 1.40 -0.02 664
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  • Page 21 Advertisements
    • 236 21 NOTICE TO SHIPPERS OF SINGAPORE BRUNEI EAST MALAYSIA TRADE REVISION OF EMERGENCY BUNKER SURCHARGE In view of the continuing increase in Bunker Prices, the following operators in the Singapore Brunei/ East Malaysia Trade wish to advise that with effect from Ist June 2006, the Emergency Bunker Surcharge will be increased
      236 words

  • EDITORIAL & OPINION
    • 541 22 EDITORIAL IF there is anything financial markets hate worse than an unexpected shock, it is the absence of clear guidance from the chairman of the US Federal Reserve; even worse when both occur simultaneously, as is the case now. When speaking to the US Congress
      541 words
    • 1013 22  -  Economic indicators point to raising rates to tackle slowing growth and rising inflation CAROLINE BAUM Bloomberg FEDERAL Reserve Chairman Ben Bernanke is facing that age-old test all central bankers eventually have to confront: What to do in the face of slowing growth
      Bloomberg; REUTERS  -  1,013 words
    • 794 22  -  THE BOTTOM LINE LEON HADAR Washington Correspondent THE conventional wisdom in Washington is that President George W Bush hasn't been rewarded politically for a mostly booming US economy. Indeed, his approval rating in the public opinion polls is now somewhere in the low 20s,
      794 words
    • 1494 23  -  They are showing a willingness to take on increased levels of risk in these economies By LANDON THOMAS JR NYT IMON Nocera runs a S hedge fund that invests in emerging markets, and so, perhaps not surprisingly, prides himself on having a mm keen appetite
      NYT; AFP  -  1,494 words
    • 329 23  -  LETTER TO THE EDITOR Barbara Weisel Assistant United States Trade Representative I REFER to the article, "IDA rebuts US criticism of S'pore industry" (BT, April 20). The United States Trade Representative (USTR) welcomes the April 18 letter from the Infocomm Development Authority (IDA) to us,
      329 words
    • 800 23  -  ROBERT SAMUELSON The Washington Post Writers Croup AMERICANS face two interconnected population issues. One is ageing; the other is immigration. We aren't dealing sensibly with either, and as a result, we face a future of unnecessarily heightened political and economic conflict. On the one
      The Washington Post Writers Croup  -  800 words

  • Page 23 Advertisements
    • 103 23 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterOsph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words

  • 10974 24 SGX MAINBOARD UM Id Ltd Vol Day LJS4 Quote GrOrw DK GrVM MM MCas lev. C ode Company 5*U (800) High Low Buyer Sat* SO N fit tow 5 I 5716 Hi Software5c 2S unch 700 2.S 25 25 3 Ifl.l '6 6 3146 8Tel«o«<OS2c 8 unch 2073
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  • 6643 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la *<« (art k(1 r xd s may 1 i»da» L»«wy tK»y CKaoga (hanga C>W9» 'vdw>! W 1 II H 04 '6 4! ww, mi.. j« 21 so i* iu '1140 JO JJ 36 S2 JJ 11J <> t )J 61 94 46
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  • Page 26 Advertisements
    • 1775 26 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination GO PRIDE RDM/ATW/BMN/TLB/NAN TIAN SHAN HAI CAM/NFK/SAV/NOL Loads Sinqapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE REJS.E.A. SERVICE Destination DOMINATOR ADN/HDD/JDH/AQA Destination PAN DYNAMIC 1 DBI/ABU/DOH/NRN/DMM/KWT STX PO TBN INC/BSN Loads Singapore. E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES
      1,775 words
    • 647 26 IXTWAHA KOKQIWVIQI VBSa/VOT Mgfl HBGMIP) W6 KH U» SM *L_ shaiis venue 00/04 is n/os is/os i«/ 05 7i/os WO5 STttITCVOTUKM/W 1$ 3.2 IS/05 71/05 01/0* 04/04 04/04 |sTmTSVEKTUt£IO/P4 15 3.7 01/04 11/04 15/04 l«/ 04 70/04 IAUSTIAUAN tOKO t«VK« 1 VBSa/VOT MOTET) I HB6HTPQI IP SM 0M STP MB
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  • Page 27 Advertisements
    • 1351 27 WAN HAIINIIRNATIONAL PTE LTD CR NOe **********0/R "1 TiL *****588 (14 UNB) FAX: *****163 V\M\ WAN HAI NFS CwtowirServkt/lookfcgsDbvctUm- (1800)*****200 V V "IHll lIMI LlllEJ naiiLMJiMMNUbmimsMninLmauwowbiDttßMWf \> JOH 18:07)*****21 MX: 07)251 W2l SUIIH: (031) J*****5 HUfc 031) *****14/ *****05 wnnkai rem »*:02l)S2S41MIAfc02l)IIW»ll«lfc71tt»/71*W FAX:7l*l7* w»w.w—l.w.»a ■WHOH)4IS7IHHa:W>I)4ISW2S/414«W ISr3STSrr_H_J__H-JI B S ILJ no
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    • 858 27 EASTERN CAR LINER, LTD VI 1 I STKIAUZI m ROUP i. HEAVY LIFT UTTO 450 TONS MTM-UUSOVKI VOY H UHh| SI F6U fKUN) W0(W) PWM JKT IQ MM* SM UTG ITU AZALEA Ag 35 10 20/05 21/05 GAUMHIAAg H~ 10 20/05 ESTKELLA ETBtNA 1)1 *0 ~22/05 23/05 25/ OS 21/05
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    • 670 27 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICQ POINTS vksq Ivor aw pjoang ctiomoo njwm colomoo —f-WUM-W-HB-M-M--MMA6AMM 01MW 12 JUM 13 JBW 14JUN If 22JIM ALSO ACCETTVK FQ 10 CDCM* TUTKDHN (VU OXOMK)) AWUMUt 60* (VU N SNM) OONNKIMG MM VBS TO RMOPf (KUKTOWI WTTfttAJ*,
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  • Page 28 Advertisements
    • 869 28 (Asia) Pte Ltd EST' 70 Shmton Way, <21-03 Marino H<him jft»gapor»J)79l2B NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES I VESSEL VOY Swoooore Fr—ortle Cotoslriwd Qristnis Itkwd PorirH"»— blond Express 1E604 1 JL ZUAltt ttiJlID Island Express 1E605 QZJitO IZJU ftiUD ZLllffl JLM
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    • 176 28 lIM&iHHI 26-28/J5 0344/06 ■HfllMin tiger island 389* 23 24/05 30-01/04 06-07/06 ■ttISWITIGa PEARL 390 M 77-21/05 07-04/06 1 0-11/06 TffTHßreaw 3iw 3031/05 otM 3- J/06 ■■■■■TIGERSKY 392K 03-04/06 09-11/06 17-11/06 JUJreaismio 393N 06-07/06 u-15/Pt 20-21/06 ■RNffIMMMAKIRAVaifit 017 21-21/05 28-30/05 07-08/061 ■UIUIU TIGER CUFF 02W 22-73/05 28-30/05 06-07/06 I 171 76-77/05
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    • 379 28 BSA x. 0 MYANMA n| FIVE STAR UNE (MyiMMr Notional Um) Loadhg far YmfM vissa voy sm m rai pgu CHM SHWE HAW 90W $10 PAGAN 34«W SU> IN MALAYSIA: BOUSTIAD SHIPPING AGENCIES KIK/PKL 03-300 SUM PEN: 04-*****15 j^fasmam ACCEPTING COWVEIITIOWAL C6O vessel nt k i k NAMWENBAU) I SLD
      379 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6878 29 This ETA ETA Advertiser Vessel Voyage Telephone OA ETA Adverser Vessel Voyage Telephone SIN Oest'n Name Mane Number m—bar SHI Dest n Name Name v 03/06 24/06 Eurasia P CONTI BARCELONA 613 *****673 TO ABIDJAN (ABJ) 2003 Cote D'lvoire 03/06 24/06 Kyowa DEIRA C393E
      6,878 words

  • executive lifestyle
    • 619 30  -  off the cuff jaime ee Hello Ail, This is God speaking. No, no, don't kneel on ceremony. I'm not That One. I have no power to order the End of Days. Rather, my claim to divinity comes from reading the Da Vinci
      619 words
    • 1639 30  -  PARVATHI NAYAR looks at the convergence of the corporate marketing dollar and the summer blockbuster in S'pore PARVATHI NAYAR /Jf RESENCE is easy impact is g I hard," said Coca Cola chief I I Steven Heyer at the seminal keynote address of Advertising Age's first Madison+Vine conference (Beverly
      1,639 words
  • Page 30 Advertisements
    • 17 30 y RIST CONTACT LENSCUWC Edward J.Benjamiiijl Roland J.lzaac M.Sc.in Clinical Optometry(USA) Comprehensive optometric examination Hi-tedi (iagnostk equjwente
      17 words

  • EUROPE SPOTLIGHT
    • Article, Illustration
      1029 31  -  GOH HWEE LENG takes in the historie wonders of the Eternal City GOH HWEE LENG ROME, as they say, was not built in a day. Step into the Eternal City and you'll see that it couldn't have been built in 100 or even 1,000 years. The ancient builders
      FILE PHOTO  -  1,029 words
  • Page 31 Advertisements
    • 224 31 ALL you need to do is to answer these two questions axrecty Conea answers from qualffyfaranetectronkludcydkaw«tnoononMaiy3t,2oo6.Thepri2tcouf^sygH^BK^'«fi*>^B» economy air ticket for two persons to Madrid, Spain. How to take part SMS your answers to *****. SMS format: Madrid <spa»> Ans 1 <space> Ans 2 <space> Name <space> l/C. (Exampte: madrfd 1988
      224 words

  • BOOKS/ARTS
    • 1150 32  -  PARVATHI NAYAR looks at what is at stake for the writers and publishers PARVATHI NAYAR WE'LL probably wait in vain for Arundhati Roy to write a second novel after her outrageously successful debut, The God of Small Things, but other authors are more generous to their fans.
      1,150 words
    • 191 32  -  By NOOR AISHA IF YOU'RE in an existential mood, head out to Nanyang Technological University's Playhouse tonight and tomorrow night for a dose of Samuel Beckett's best-known work, Waiting for Godot. Ireland-born Beckett has singlehandedly brought absurdist theatre into the forefront
      191 words
    • 455 32  -  WORDS FROM THE TOP Pramod Ratwani, vice-president of Asia Pacific and Middle East for Aspect Software, talks to PARVATHI NAYAR about books that inspire and the serial pleasure of reading PARVATHI NAYAR Q. How have books contributed in building your career? A. Four
      455 words
  • Page 32 Advertisements
    • 6 32 """"uo, MBltSfflßMfr/mr -rMiWilii|W WmWfliH* H •> ■WBiHiiMil^^
      6 words
    • 365 32 NEW BOOKS A fortnightly listing of the latest txxtewabble in S'pore NON-HCTION Architecture Of Happiness by Almn De Botton ($34.15) Happiness Is a journey through the philosophy and psychology of architecture that tackles the relationship between man and the buildings he fives in. From Stalin To Kim II Sung by
      365 words
  • Page 32 Miscellaneous
    • 261 32 CRYPTIC CROSSWORD 3 Translated into creed of obscure ACROSS nature (9) 1 Minimum charge to store soft 4 Motherless girt encountered food (7,5) Cornish tourist (5) 8 Suitable for a series of exercises 5 Airmen's stew made from yes(3) terday's meals (7) 9 Two parents unreservedly enor- 6 Many need
      261 words

  • CINEMA/WINE
    • 532 33  -  The Da Vinci Code doesn't ask that we take its story as gospel truth, says PARVATHI NAYAR PARVATHI NAYAR DAN Brown's The Da Vinci Code seems such an unlikely candidate to have become Most Famous Book of our times. Of course, it could be a secret spell rubbed
      532 words
    • 264 33  -  DVD By PARVATHI NAYAR FOR a movie about a nudie show, Mrs Henderson Presents is a surprisingly tame affair. The tale is set in London in the 1930s and *****, when 69-year-old Laura Henderson (Judi Dench) suddenly finds herself a widow. An extremely wealthy one to be
      264 words
    • 896 33  -  WINE By N K YONG WHEN we started collecting wines, the only wine cooler on the market was the French Eurocave, which had to be ordered from France. The profusion of wine cooler brands now available is testament to the spread of wine culture throughout the community. Last
      896 words
  • Page 33 Advertisements
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  • FRENCH FLAIR
    • 952 34  -  Monet's beloved waterlilies have taken pride of place once again in the Musee de l'Orangerie which has just reopened after a US$36m makeover, reports ALAN RIDING ALAN RIDING NYT OVER the last six years, as the Musee de l'Orangerie underwent a US$36 million renovation and expansion,
      NYT; AP/AFP  -  952 words
  • Page 34 Advertisements
    • 55 34 vrnore^o^:er iJ **CT> Exklusiv Auto Services Pte Ltd Showrooms: 26 Leng Kee Road Tel: 6741 11 11 7000-RENAULT, 7 Übi Close Tel: 6741-7622, 6741-1055 NO 1 '«"-J!;..' Dealers: Sin Hiap Hong Credit Pte Ltd. 101 Soo Chow Walk (off Upp Thomson Road) Tel: 6452-6003 Forward Motors Pte Ltd, 210 Turf
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    • 35 34 I v 1 In 1984, Renault launched the World's Ist original MPVEspace. This bright, spacious, functional, femily-sned MPV.vrfth swiveling seats, had a ten-year Jeai outs iMMqfcfdwr? j foundation for a whole I new market sepnent
      35 words