The Business Times, 5 July 2006

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Total Pages: 30
1 30 The Business Times
  • 16 1 THE BUSINESS TIMES online at http://business-times.asial .com.sg MICA (P) 099/03/2006 Wednesday, July 5,2006 -SINGAPORE 85 cents
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  • 594 1  -  Republic seen as springboard into Japan for MNCs By CHUANG PECK MING [SINGAPORE] More multinational corporations from the West are using Singapore as a stepping stone to break into the Japanese market as seen in the increasing flow of direct investments from Singapore
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  • 129 1 Dsn 2.448.73 (+10.47) ST INDEX FUTURES (+11.00) siMsa 292.46 (+1.60) SIMSO FUTURES ***** (+2.40) MARKETS Tuesday Change KISECOMP 923.99 44.85 NIKKEI 225 15.638.50 +66.88 HANG SENG 16,368.98 +42.32 SET INDEX 694.52 >10.54 JAKARTA COMP 1,337.87 +10.11 MANILA COMP 2,256.48 +61.64 SEOUL COMP 1,285.92 -8,69 SHENZHEN 8 297.50 -2.19
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  • 734 1  -  Both suing each other for sums running into tens of millions of dollars By MICHELLE QUAH [SINGAPORE] Singapore's Central Provident Fund Board (CPF) and computing giant IBM are embroiled in one of the biggest IT lawsuits here in recent history. CPF
    734 words
  • Page 1 Advertisements
    • 65 1 CAO FALLOUT Fbrmer trader puts vintage car up for sale PAGE 2 The best doctor Im* is not one who talks in Jean Brunei, private banker to the ultra-wealthy in a speech to financial advisers BT ONLINE BT print subscribers get free access to the Business Times Online. To activate
      65 words
    • 210 1 PROPERTY J* Ardraore Point enbloc sale could set new benchmark PAGE 9 IB Turn on I under our NEW International Mortgage Service Financing, refinancing* or equity release of residential properties aHnHHHrawnMMM in Great Britain, Spain, France, New Zealand, Hong Kong, Cnee* out our new swvfce today: Singapore and selected locations
      210 words
    • 10 1 MOTORING Cheaper Japan cars eat into Hyundai sales PAGE 28
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    • 20 1 as WORLD CUP 2006 A Portuguese men-of-war to sink Les Bleus PAGE 10 AH* 111 8 1 *****1 1, *****4
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  • TOP STORIES
    • 557 2  -  But moderate operating margins expected despite decline in spending By SIOW LI SEN [SINGAPORE] Telecommunication operators in South and South-east Asia enjoy steady revenue growth, stable market shares and rational competition which makes the companies financially strong, said a report by Standard Poor's
      BLOOMBERG  -  557 words
    • 528 2  -  By RONNIE LIM [SINGAPORE] Singapore refiners made strong profits in the second quarter as margins almost doubled from those in tftfc relatively* weak first three months of the year. But prospects for Q3 as far as oil product demand is concerned look
      528 words
    • 515 2  -  By MICHELLE QUAH [SINGAPORE] Former China Aviation Oil (CAO) trader Gerard Rigby who faces a criminal charge of insider trading has put his car up for sale on a used-car website here. A check by BT of singaporecarsonline.com found that Rigby who is
      515 words
    • 495 2 S'pore output grows in June but electronics contracts ALTHOUGH manufacturing activity in June continued to rise, the electronics sector contracted for the first time after 11 consecutive months of expansion, figures released yesterday indicate. Some analysts believe that the manufacturing sector remains on the growth path, reflecting the
      495 words
    • 626 4  -  Rise in new export orders drives up PMI to 52.7, from 52.3 in May By OH BOON PING [SINGAPORE] Although manufacturing activity in June continued to rise, the electronics sector contracted for the first time after 11 consecutive months of expansion,
      Source: SIPMM  -  626 words
    • 499 4  -  By PAULINE NG in Kuala Lumpur MALAYSIAN conglomerate YTL Corp is in discussions with the Malaysian government on a high-speed rail link between Kuala Lumpur and Singapore, its group managing director Francis Yeoh said yesterday. In an interview with Bloomberg, Mr
      BLOOMBERG  -  499 words
  • Page 2 Advertisements
    • 382 2 mavenalliance Maven Alliance Pte. Ltd. is proud to present the following workshops: 1. Continuous Monitoring: Techniques and Technologies 3 to 4 August 2006, Singapore by Professor Mark Nigrini A two-day seminar on state-of-the-art Continuous Monitoring tools personally coached by Professor Mark Nigrini, author of Digital Analysis Using Benford's Law and
      382 words
    • 20 2 Inviting tenders? Call 1800 289 8822 or email notiees@sph.com.sg to book your tender notice in our newspapers now. MATaW NOTICES
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  • Page 3 Advertisements
    • 327 3 IHk%M I *i| V !Vf H WKSpflj^M I B! ...Jml IH W.™jj a O yM^T^BaTMtjiTMJh ■lli A f llft'MVJI 111 v 4 H rKICi I h'Mfl I AM4SIi!AIAZ£iU Ml Lm E^ '\i :f. ■'< v.. -^^^Ntiiiii'lßililiiiii'iiiiii'ifeMf "'""^-^'^F^ff-'^Tfffi^^w^^TO^wCTWWBBBBMBBWWBBWBBWWHBHBBBWWWWHWHWWWWWWWWBBII^^^^^B Whatever your view on the finer things in life, 9H| I have it
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  • Page 4 Advertisements
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  • COMPANY NEWS
    • 468 5  -  Study shows the bourse carries higher risk premium post-2000 By WONG WEI KONG SINGAPORE stocks may be trading at valuations lower than historical figures, but that does not necessarily mean that the market has become cheaper. While it is quite a common
      Source: UOB Key Hien  -  468 words
    • 643 5  -  HOCK LOCK SIEW By VEN SREENIVASAN IN ITS search for quick returns, the market sometimes overlooks good companies which value investors call "plodders". These are companies with full order books, strong earnings growth, positive cashflow and strong balance sheets. But somehow their business
      643 words
    • 626 6  -  Ascott buys Asia Insurance and Hotel Asia; White House Pk sold to Novelty By KALPANA RASHIWALA INSURER Asia General Holdings group has sold Asia Insurance Building at Finlayson Green and Hotel Asia on Scotts Road for a total $217.5 million. The buyer is
      YEN MENG JIIN  -  626 words
    • 154 6 Bloomberg SHARES of Mediaßing Ltd climbed after Pacific Internet (PacNet) recommended some shareholders accept a takeover; offer by the on-line-phone services provufpr Mediaßing's ju*took gained 1.4 per cent, after rising as much as 4.1 per cent, to 37 cents at the 5.05pm close. The shares
      Bloomberg  -  154 words
    • 462 6 DBS earlier reported to be seeking higher shareholding in this same bank Reuters [SHANGHAI] A Singaporean private equity fund, partowned by US hedge fund Pequot Capital, is seeking to buy a minority stake in China's Huishang Bank Co, industry sources said yesterday.
      Reuters  -  462 words
    • 487 6  -  By R SIVANITHY THANKS to a weak stock market, the volume traded in put warrants in the second quarter was about $500 million more than twice the $200 million done in puts during the first quarter. Furthermore, according to data compiled by Societe
      487 words
    • 337 6  -  By CRYSTAL NEO DBS Bank, Singapore's largest bank, has sold $500 million of subordinated notes due 2021. denominated subordinated notes have a 15-year irfaturity with a call optioMnd a coupon step-up feature. DBS said the new capital will be used for general
      337 words
    • COMPANY BRIEFS
      • 79 6 SINGAPORE T elecomm unications (Sing Tel) yesterday said that as part of the group's rationalisation, Optus Networks Pty Limited's 39.99 per cent shareholding in Southern Cross Cables Holdings Limited has been transferred to Sing Tel Elnvestments Pte Ltd. Both Optus Networks and Sing Tel
        79 words
      • 63 6 PARKWAY Holdings has entered into an agreement for a $400 million syndicated term loan facility. The lead arranger is Standard Chartered Bank. Proceeds from the "transferable dual currency revolving and term loan facility" will be used to refinance borrowings, including the outstanding notes
        63 words
      • 109 6 SINGAPORE Computer Systems (SCS) has increased its shareholding in Green Dot Internet Services Pte Ltd (GDIS) from 20 per cent to 23.8 per cent. This comes after it converted 200 of its convertible redeemable preference shares (CRPS) in GDIS into 200,000
        109 words
      • 56 6 NATSTEEL Ltd yesterday said its wholly owned subsidiary NSL Chemicals (NSC) has acquired a further three million shares in the issued capital of NSL OilChem Services (NOCS) by way of capitalising a shareholder's loan amounting to $3 million. NOCS remains a
        56 words
      • 46 6 PACIFIC Healthcare Holdings has disposed of 20,000 shares or a stake of 20 per cent in Thomson Paediatrics Clinic Pte Ltd for about $1.6 million, which it will use for general working capital. The loss from the disposal is about $169,000.
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      • 45 6 COMAT Industrial yesterday said it will place out up to seven million shares at a price of 17 cents each. It expects net proceeds of $1.12 million for its working capital. Westcomb Securities is the placement agent.
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      • 122 6 GOLDTRON Ltd said its wholly owned subsidiary Dynamar Holdings Pte Ltd had been served with a letter of demand on Monday by United Overseas Bank (UOB), the security agent under a 2002 restructuring agreement, in relation to the credit facilities given by lenders
        122 words
    • 431 7  -  Public tranche of 20m units 5.9 times subscribed; IPO rakes in $269.8 m By JEAN CHUA FRASERS Centrepoint Trust (FCT), which went ahead with its initial public offering despite talk of waning interest in real estate investment trusts (Reits), has attracted strong response from both
      FILE PHOTO  -  431 words
    • 754 7 Bangalore-based developer Embassy Group said to be planning to sell shares in the fourth quarter Bloomberg EMBASSY Group, an Indian developer whose buildings house the offices of Hewlett-Packard Co and AT&T Inc, is planning the first sale of an Indian property trust in
      Bloomberg  -  754 words
  • Page 5 Advertisements
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  • Page 6 Advertisements
    • 205 6 Brand New Ambience, Improved Menu. Wm Same Great Prices. 3+ t. V* ft. I g^'' -'"W. With the infusion of modern aesthetics, Happy Restaurant has been transformed into a Zen alcove with complete privacy. Four newly created Private Rooms are ideal for intimate gatherings and business lunches, while a stylishly
      205 words

  • Page 7 Advertisements
    • 17 7 By wBBWrIEIrTffrTTM iSSfIMA Hi-' VHPfV 1 r IL_M j !9^^HBBoV^H!£NtaHairf\^^^nnPKiY^B^Hl IP v d£S^^HPß|^^B c^H nBBSL^B .> n^n^M^k^^^MluV ■^^^PWQEimIHBP^^^
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  • SINGAPORE MARKETS
    • 563 8  -  STOCKS But ST Index stays within a narrow band before a late push brings it up by 10.5 points R SIVANITHY Senior Correspondent A HUGELY bullish Merrill Lynch report on corn starch firm China Sun yesterday sent the stock rocketing 20 per cent
      Source: Bloomberg  -  563 words
    • 1022 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jul 4 and earlier) Subsantial No of Price SHAREHOLDING Subsantial No of Mn SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Trans Shareholder/ Bay/ Shares Per Before After Stodi Pate Director Sel 000 ShrS C000) (000) Stock Date Director Sol 'BBB
      1,022 words
    • Article, Illustration
      591 8  -  Compiled by MATTHEW PHAN ComfortDcKiro Corp July 4 dose: 551.50 OTIGROUP RESEARCH, My 4 COMFORTDELGRO has announced a Singapore taxi fare increase, effective July 10. Flag-down rates rose by between 10 cents and 20 cents (4.2 to 7.7 per cent). Distance rates rose by 20 cents for every 210
      Source: Bloo,berg  -  591 words
    • 443 8 CURRENCIES Reuters [SINGAPORE] Asian currencies extended gains to multi-week peaks yesterday, underpinned by the combination of weakness in the US dollar, fresh speculation on the Chinese yuan, and the return of foreign portfolio flows to the region. The Indonesian rupiah, Philippine peso, Thai
      Reuters  -  443 words
    • 191 8  -  CHART POINT By YEO KEE YAN chartist at Kelive Research THE Federal Reserve has been less hawkish of late, raising hopes for a respite in the current interest rate cycle. The benchmark Straits Times Index (STI) reacted with a 52-point gap up above
      191 words

  • SINGAPORE NEWS
    • 491 9  -  A new benchmark could be set if the $220m asking price for the prime location is met By KALPANA RASHIWALA A NEW benchmark could be set for the price of freehold residential land if owners of Ardmore Point are successful in the collective sale
      491 words
    • 413 9  -  By DANIEL BUENAS NUS Press has launched a collection of essays, interviews and lectures by former top civil servant Ngiam Tong Dow. The book, entitled A Mandarin and the Making of Public Policy: Reflections by Ngiam Tong Dow. chronicles some of the thoughts and insights
      413 words
    • 358 9  -  By CHEN HUIFEN QATAR is aiming to attract Singapore financial institutions to set up operations at its Qatar Financial Centre (QFC), which promises free repatriation of capital and profit, zero tax regime until end-2008, and no ownership restrictions. "There are simply not enough financial professionals
      358 words
    • NEWS ROUNDUP
      • 50 9 BRUNEI'S Minister of Development, Pehin Dato Abdullah Bakar, will be visiting Singapore today and tomorrow in the first Brunei-Singapore annual exchange of visits, at the invitation of Dr Yaacob Ibrahim, Minister for the Environment and Water Resources. They will discuss environmental cooperation and regional environmental issues.
        50 words
      • 63 9 THE Association of Criminal Lawyers Singapore (ACLS) has applauded the establishment of a Community Court to deal with cases which require special understanding of the accused persons and circumstances which led to the charges. ACLS president Subhas Anandan said that the association is willing to provide
        63 words
      • 65 9 AIRLINES, hotels, amusement parks, travel services and their advertising agencies and creative consultants have been invited to send in entries to the second Asia Travel Tourism Creative Awards. The Discovery Travel Living Channel is returning as the presenter sponsor for this event, with
        65 words
    • 520 9  -  Once in place, it can be applied to any field: Venture chief By CHEN HUIFEN IT IS not the fields of research that are chosen, but the development of a vibrant eco-system that is more important in turning Singapore into a knowl-edge-based economy.
      FILE PHOTO  -  520 words
  • Page 9 Advertisements
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      219 words

  • WORLD CUP 2006
    • 932 10  -  By CONRAD RAJ AGAINST my better judgment, I am rooting for Portugal to beat France, even though the French have shown in the second round of the competition that they are capable of becoming world champions. However, Portugal with Ronaldo, Figo, Maniche, Deco and
      REUTERS; AP  -  932 words
    • 576 10 AP [LONDON] In his first public comments since being sent off against Portugal at the World Cup, England star Wayne Rooney says he was "gobsmacked" when referee Horacio Elizondo produced a red card. The incident occurred in the
      AP  -  576 words
    • 303 10 AFP [BUENOS AIRES] Argentine legend Diego Maradona says he is not going to throw his hat into the ring to replace coach Jose Pekerman, who resigned after the World Cup quarter-final loss to Germany. But he also vowed not to stay in the
      AFP  -  303 words
  • Page 10 Advertisements
    • 26 10 DYour FIFA World Cup™ starts here, on the Philips Flat TV with Ambilight. Philips. Proud sponsor. i www.philips.com/fifaworldcup PHILIPS m sense and simplicity POO 6 bub
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  • ECONOMY WATCH
    • 502 11 But finance minister urges holding off, to not jeopardise recovery AP [TOKYO] Top Japanese officials gave conflicting signals yesterday about what the central bank should do about interest rates amid rising speculation that the Bank of Japan (BOJ) will raise rates next
      AP; REUTERS  -  502 words
    • 792 11 Bloomberg [SYDNEY] The euro traded near a four-week high against the US dollar and a record versus the yen on speculation that the European Central Bank will signal an acceleration in the pace of interest-rate increases after its meeting tomorrow. The euro this
      Bloomberg  -  792 words
    • 744 11 Bloomberg [SINGAPORE] Power in agricultural markets is shifting to China, Brazil and other developing countries, where growing wealth is bolstering global prices for grain and meat. The Organisation for Economic Cooperation and Development and Food and Agriculture Organisation of the United Nations predict corn prices
      Bloomberg  -  744 words
  • Page 11 Advertisements
    • 2513 11 AVAPLAS LTD Company Registration Number: *****1788 C (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING AND NOTICE OF BOOKS CLOSURE DATE Notice is hereby given that the Annual General Meeting of the Company will be held on 20 July 2006 at Cube 3, Basement 1, Changi Village
      2,513 words

  • MALAYSIA/INDONESIA
    • 707 12  -  INDONESIA INSIGHT Things are looking up so long as the momentum of reform is kept up SHOEB KAGDA Jakarta Correspondent INDONESIA is proposing tax holidays for new investors, and is also considering extending foreign investors' land usage rights from the current 30 years
      707 words
    • 221 12 Bloomberg [SINGAPORE] PT Renaissance Capital, an Indonesian investment bank, got as many as 30 banks and funds to provide a US$2.l billion loan to pay for two coal mines, in a deal that uses less than 10 per cent of its own
      Bloomberg  -  221 words
    • BRIEFLY ASIA
      • 76 12 Reuters [HONG KONG] China Mobile decided at the eleventh hour to nix a US$5.3 billion purchase of Millicom International, two sources close to the deal said yesterday, as the world's top cellular firm got cold feet before closing its latest takeover attempt. China Mobile
        Reuters  -  76 words
      • 44 12 Bloomberg [SHANGHAI] Citic Securities Co, China's biggest publicly traded brokerage, received approval to buy a 40.7 per cent stake in China Asset Management Co, paving the way for the creation of the nation's third-largest fund management firm.
        Bloomberg  -  44 words
      • 53 12 AFP [KUALA LUMPUR] A Malaysian minister said yesterday the country was hoping to generate over US$6O billion in revenue from tourism over the next five years. Deputy Tourism Minister Donald Lim said the government had projected earnings*at RM244.2 billion (*****.9 billion) for the
        AFP  -  53 words
      • 76 12 Bernama [PUTRAJAYA] Gerbang Perdana Sdn Bhd will leave it to the government to decide whether or not its clsim for compensation of RM36O million (SSI 56.1 million) for the cancellation of the half-bridge project to Singapore is reasonable, its chairman Razali Ismail
        Bernama  -  76 words
      • 66 12 AP [MUMBAI] India's financial capital Mumbai came to a virtual standstill yesterday as a second straight day of torrential rainfall flooded much of the city, killing seven people, officials said. Two people died yesterday, while at least five deaths were caused on Monday, mostly
        AP  -  66 words
    • 451 12 Bloomberg [KUALA LUMPUR] Malaysia's exports grew in May at the fastest pace in three months as companies such as Malaysian Pacific Industries Bhd shipped more electronics and high oil prices increased the value of overseas petroleum sales. Exports rose 13.2 per cent from
      Bloomberg  -  451 words
    • 301 12 Bernama [KUALA LUMPUR] New Straits Times Press deputy chairman Kalimullah Hassan has filed a RMSO million (5521.6 million) suit against lawyer Matthias Chang for defamation. He is seeking damages resulting from Mr Chang's statements made against him at a June 13 news conference. In
      Bernama  -  301 words
    • 259 12 Bloomberg [KUALA LUMPUR] Malaysia should stop giving preferential treatment to its ethnic Malay majority, former deputy prime minister Anwar Ibrahim said, arguing the affirmative action policy deters foreign and local investors. Ethnic Malays, or Bumiputras, which literally means "sons of the soil", get
      Bloomberg  -  259 words
    • 2335 12 VOL General Corp .0.63 0.02 120 M4 H W- rm> Gentmg 23-70 -0.30 307 George Kent .0.50 0.01 77 At M Realty 1.40 0.05 72 GHL Systems Z 334 0.01 5147 Abric 336 0.02 91 GtobetroniaTKh 032 unch 290 ACPIndustrias 1-01 0.06 237 Glomecihd —1.18 unch 0 Advance
      2,335 words
  • Page 12 Advertisements
    • 138 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DECIMAL CONTRACTS FURNISHING PTE LTD CO. REG. NO. *****9039 M NOTICE IS HEREBY GIVEN pursuant to Section 296(1) of the Companies Act, Cap. 50, that a meeting of the creditors of the abovenamed Company will be
      138 words

  • Page 13 Advertisements
    • 6503 13 Mtv :*AT3 NJOTICFS I 1 1. 1. i- L-/ Toll free: 1800-289-8822 Email: I IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF OFFSHORE JOINT SERVICES COMPANY OF SINGAPORE PTE LTD (In Members' Voluntary Liquidation) Reg No. *****0233H NOTICE OF RESOLUTIONS At an Extraordinary General
      6,503 words

  • INDIA
    • 594 14 Fund managers seeking approval to sell securities backed by gold Bloomberg IMUMBAIJ UTI Mutual Fund. India's second-larg-est money manager, plans to sell securities backed by gold, betting that the world's biggest buyers of the metal won't limit their interest to its
      Bloomberg; REUTERS  -  594 words
    • 270 14 Bloomberg [NEW DELHI] India says the US decision to sell up to 36 new F-16 fighter planes to Pakistan is not "conducive" for ties between the South Asian neighbours. "Prime Minister Manmohan Singh himself has expressed disappointment", to President George W Bush,
      Bloomberg  -  270 words
    • 257 14 Reuters [MUMBAI] India's Tata group is considering withdrawing its US$3-bilHon investment plan for Bangladesh. or whittling it to a bare minimum, because the government there has not responded to its proposals. a newspaper said yesterday. The group had offered in April to raise its
      Reuters  -  257 words
  • Page 14 Advertisements
    • 47 14 Subscribe to 12 months of The Business Times at $265* and receive 3 *4 6 months of Newsweek n 2 bottles of red/white wine of your choice S,NESSTIMES Wine Cooler Bag complete wttli accessories Ca 6388 3838 now 10 sul>scr l>e THE BUSINESS Times Newsweek CATHAY ciwcn£*
      47 words

  • GREATER CHINA
    • 814 15 NEWS ANALYSIS Lack of technology, political rows among factors that may hinder search Reuters [ON BOARD FPSO MUNIN, South China Sea] Perched on a floating oil processing plant (or floating production, storage and offloading unit), cook Pang Shaojie reels tuna in
      Reuters; REUTERS  -  814 words
    • 334 15 China may pay up to US$3b for Russian oil stake Reuters [SINGAPORE] China National Petroleum Corp (CNPC) has expressed interest in spending up to US$3 billion to buy into the IPO of Rosneft to deepen ties with the Russian oil giant, two sources close to
      Reuters  -  334 words
    • 346 15 Reuters [SHANGHAI] A draft version of China's revised futures regulations will allow domestic futures brokerages to apply to trade overseas futures if they meet certain minimum capital requirements, a reform that will further integrate China with world derivative and commodity markets. China is overhauling
      Reuters  -  346 words
    • 313 15 AP [SHANGHAI] China needs to take more aggressive action to curt) lending and reitf in a nationwide investment binge, the government's main planning agency said in a report issued yesterday. The report came amid warnings that China's sizzling economy shows scant signs
      AP  -  313 words
  • Page 15 Advertisements
    • 2032 15 AAMultiVisinn InttUiatnt Surveillance Multi Vision Intelligent Surveillance Limited (incorporated m Bermuda) NOTICE IS HEREBY GIVEN that the Annual General Meeting of MULTIVISION INTELLIGENT SURVEILLANCE LIMITED (the "Company") wi be held at Connection 1, Amara Hotel, 165 Tanjong Pager Road. Singapore *****3 on Friday, 28 July 2006 at 2.30 p.m. for
      2,032 words

  • ASIA-PACIFIC/WORLD
    • 504 16 Directors likely to decide on Friday whether to explore 3-way alliance NYT Reuters [DETROIT] A General Motors' board decision, likely on Friday, will determine whether discussion of a three-way alliance moves forward, sinee both Nissan and Renault said on Monday that they
      NYT; Reuters; AP  -  504 words
    • 265 16 Reuters [SYDNEY] Two former foreign exchange options dealers at National Australia Bank (NAB) were jailed yesterday for their part in a scandal that cost the bank A 5252 million (*****.6 million). David Bullen, 34, and Vince Ficarra, 27, were found guilty by
      Reuters  -  265 words
    • 509 16  -  By NEIL BEHRMANN in London AS the Singapore Exchange steps up its effort to develop the market for exchange traded funds (ETFs), the number of these investment vehicles worldwide has surged to 509 funds worth US$472 billion. In value terms, the funds, increasingly popular
      509 words
    • 136 16 Reuters lABU DHABI] Iraq is exporting up to 1.9 million barrels per day of crude oil, its highest level since the war, after the army took over security of the vital northern pipeline to Turkey, the oil minister said yesterday. "Crude
      Reuters  -  136 words
    • 419 16 Annual concession fees far less than 1b-baht demand By OUR CORRESPONDENT in Bangkok THAILAND'S embattled free-to-air television station ITV said yesterday it has paid the Thai government 230 million baht (S$9.5 million) in annual fees a far cry from the
      419 words
  • Page 16 Advertisements
    • 187 16 J u 1 1 1 TT W A 4IH .v *v>: IMNUS EMINENT PERSONS LECTURE National University W of Singapore nkm TOW INDIA'S ECONOMIC REFORMS: CHALLENGES AND PROSPECTS HI Deputy Chairman Planning Commission Government of India Prior to his current position, Dr Singh was a Director (Independent Evaluation Office) at
      187 words
    • 50 16 G2352D s Over 500 Locations II Ask us about Corporate, Individual or Group Instruction. I I Calßerittz t0day6733*7472 or vtsrt www.berlrtz.com.sg I 501 Onshanl Road KXHXWWhaakxk Place SlngapotoZßßßD I China Fashion I I plans to I set up I lan airline I I m V& jfyf I A. H I
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  • WORLD
    • 506 17 Microsoft axes support for Win 98 ME Systems nearing end of life cycle, harder to repair security lapses LATWP [NEW YORK] Users running Windows 98, Windows 98 Second Edition (SE) or Windows Millennium Edition (ME) won't be able to count on Microsoft for help starting next Tuesday. The computer software
      LATWP  -  506 words
    • 516 17 [BRUSSELS] Antitrust regulators from the European Union's 25 countries have voted unanimously to levy new daily fines on Microsoft Corp for flouting a 2004 ruling, two people close to the case said. Regulators backed on Monday EU plans to fine the company
      516 words
    • 346 17 Reuters [STRASBOURG] The European Commission has rejected calls from EU lawmakers to intervene in a planned trans-Atlantic stock exchange merger, saying it was up to the companies and shareholders to decide. Euronext, which operates stock markets in Paris, Brussels, Amsterdam and Lisbon, has agreed to
      Reuters; AP  -  346 words
    • 291 17 Bloomberg [NEW YORK] Goldman Sachs Group will pay former chairman and chief executive officer Henry Paulson a cash bonus of US$lB.7 million for the first half of this year after reporting the highest profit in Wall Street history. The securities firm
      Bloomberg  -  291 words
    • 327 17 Reuters [BRUSSELS] The European Commission plans to propose quotas for imports of leather shoes from China and Vietnam to solve anti-dumping disputes with the two countries, European Union diplomats said on Monday. In a move likely to anger China, the EU's executive
      Reuters  -  327 words
  • Page 17 Advertisements
    • 126 17 Diners Club Card To apply, ca*****6 0980 A World of Exclusive Privileges Treats Diners Club tcicuxdirters.com .sg International M si' 5. WmT&p m§M v IPsii w w M '<*- > > 4 t r V „> > Chop— on»>Wß from our wt—Jfe mKBw s^,: gpi Haru Dining "3jg One Fullerton
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    • 112 17 HT Alkoomi Southlands Umvooded Chardoruty 2003 Its pale straw colour exudes a lively translucence that speaks ofa dry hot summer with low fruit yields and excellent concentration of flavours. Imagine a crisp, citrusy bouquet of grapefruit and peaches tinged with a lemony aroma. A pure wine that is great as
      112 words

  • AVIATION
    • 944 18 Planemaker needs to solve A380 crisis quickly and recover ground already lost to Boeing Bloomberg I PARIS! Airbus, buffeted by delays with its signature A3BO superjumbo jet that triggered the ouster of its chief executive officer this week, faces the growing risk
      Bloomberg; BLOOMBERG  -  944 words
    • 296 18 Bloomberg [BRUSSELS] A European Union (EU) court rejected Easy Jet pic's appeal to overturn the European Commission's 2004 clearance of the merger between Air France SA and KLM Royal Dutch Airlines NV. Easy Jet had argued -that the commission, the
      Bloomberg  -  296 words
    • LOG BOOK
      • 75 18 Reuters [JOHANNESBURG] Annual operating profit at state-owned South African Airways tumbled by 70 per cent due to soaring fuel prices and a strike, former parent Transnet said yesterday. Operating profit for the 12 months to March slid to 300 million rand (5567.5 million) from
        Reuters  -  75 words
      • 74 18 Reuters [NEW DELHI] India's Supreme Court said on Monday it would begin hearing a complaint filed by Anil Ambani's Reliance Airport Developers Ltd against the government's handling of an airport privatisation programme on July 18. Modernisation contracts for airports in Mumbai and New
        Reuters  -  74 words
      • 96 18 AFP [BANGKOK] Tickets are selling fast for test flights later this month to Bangkok's new international airport, with one short flight already sold out, flag carrier Thai Airways International said on Monday. Some 400 tickets for the 20-minute flight between the new airport and Bangkok's
        AFP  -  96 words
    • 428 18 Debate over jet fuel tax for airlines over rising emissions Reuters (STRASBOURG. France) Airlines should pay a tax Tor jet fuel and join the European Union's emissions trading scheme to cut back on rising emissions of heattrapping greenhouse gases, the European Parliament
      Reuters  -  428 words
    • 2026 18 mS SSIOSSO —«*r»To BB l« ***** 071$ KB60 0925 iSST LH9771 1750 "S! £g° jgff? IBS Dn»iiir6ai ***** 1145 5Q142 0935 22ZH2 LcSti az*m a» SiS IS 32 «9£ «30 KUB6 2255 A5TS W »?SJ Im A* 39 SS L 2S£ IIS. 1(05 A***** HI 5
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  • Page 18 Miscellaneous
    • 269 18 CRYPTIC CROSSWORD 6 Meanness shown by mayor and spin doctor (9)« P F p 7 Top stuff contains energy (5) LJ—-taJ——ißi^~HI 10 Unfinished bomb found by a country (7) 11 Holding gun, cover agent 12 Stomach's turned seeing obscenity (4) J I I I I I I I simply after
      269 words

  • SHIPPING
    • 600 19  -  Jakarta may cut back on patrols due to high fuel cost, say analysts By DONALD URQUHART [SINGAPORE] Three pirate attacks in as many days may indicate a resurgence of activity in the former piracy hot spot of the northern Malacca Strait, potentially scuttling efforts
      600 words
    • 333 19 Bloomberg [SYDNEY] Toll Holdings Ltd. Australia's biggest freighter, expects proceeds of at least Asl.s billion (Ssl.B billion) for units it is under regulatory orders to sell. There has been "significant" interest in the 50 per cent stake in Pacific National that
      Bloomberg  -  333 words
    • 833 19  -  STRAIT TALK By DAVID HUGHES IT IS sometimes very difficult to understand where the shippers' representatives are coming from. Yet again last week, they attacked the container shipping lines for attempting to retain something of the liner conference system. They simply do not get
      833 words
    • 481 19 Rising fuel costs behind peak season surcharge Bloomberg [SINGAPORE] AP MoellerMaersk A/S, Neptune Ori; ent Lines Ltd and 13 of the biggest shipping lines that sail between Asia and Europe said they will impose a peak season surcharge from Aug 1 to recover part
      Bloomberg; BLOOMBERG  -  481 words
    • 339 19 Bloomberg [SYDNEY] AP MoellerMaersk A/S, the world's biggest shipowner, may face a rival in its bid for Adsteam Marine Ltd, the tug-boat company's biggest shareholder said. "These are strategic assets and it is the perfect entree for someone trying to enter Asia," said
      Bloomberg  -  339 words
    • PORT SHOTS
      • 98 19 Bloomberg [MANILA] International Container Terminal Services Inc, which operates ports in the Philippines and five other nations, said it sold 4.5 billion pesos (Ssl 34.8 million) of bonds to fund expansion and repay debt. The sale of the bonds, which have maturities of
        Bloomberg  -  98 words
      • 84 19 Reuters [GENEVA] More migrants who take to the seas, risking their lives in rickety boats, could be rescued under new rules making it easier for ships to be able to hand them over on shore, the UN refugee agency said on Friday. The
        Reuters  -  84 words
      • 73 19 Bloomberg [SEOUL] Daewoo Shipbuilding Marine Engineering Co, the world's second-largest shipyard, said it has received a 509 billion won (*****.9 million) order to build container ships for a customer in Panama. The company will build an unspecified number of container ships and deliver them
        Bloomberg  -  73 words
    • 277 19 SGX .4 H* 100 M4 S$ W- Vol CH Offshore .036 5!oi 284 ChuanHup .0.34 0.01 3418 Cosco Gorporatxxi 128 0.02 7656 CWT Distribution 0.60 0.01 389 EzraHldgs 228 0.03 527 Freight links 0.07 0.01 1673 Grand Banks Yacht .0.92 unch 0 Jaya Holdings 1.34 -0.01 295 Kl
      277 words
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  • EDITORIAL & OPINION
    • 535 20 EDITORIAL EVER since it was launched in 2001 in the Qatari capital, the so-called Doha Round of trade talks has waxed and waned but mostly the latter. And it has happened yet again: The failure of trade negotiators to make any headway at their Ministerial
      535 words
    • 2060 21  -  Firms that prepare for M&As avoid falling into the trap of outsourcing their growth strategy By MARK L SIROWER CONSIDER, if you will, the hypothetical case of a company we'll call Homeland Technologies, a rapid-growth company that competes in the government information technology
      Source: Mark L Sirower  -  2,060 words
    • 763 20  -  THE BOTTOM LINE FRANK CHING CHINA'S decision to impose new censorship rules through a draft law is a step in the wrong direction. Passing such a retrograde measure is likely to hinder reform and lead to suspicion overseas that Beijing
      763 words
    • 988 20  -  There is a delicate balance between helping indigenous peoples and promoting investment ANDY MUKHERJEE Bloomberg IN Siti Maimunah's Jakarta office, on the wall behind her spartan desk, hangs a placard. "Decolonise Freeport's imperium in Papua," the poster says, its ire targeted
      Bloomberg; AFP  -  988 words
    • 231 21  -  LETTERS TO THE EDITOR Stephen Forshaw Vice-President Public Affairs Singapore Airlines I REFER to your commentary "SIA is not such agreat way to fly these days" by Conrad Raj (BT t June 30). We take note of Mr Raj's comments which highlight areas where
      231 words
    • 326 21  -  K J Foo Singapore I REFER to the article "Sing Tel discloses pay of top earners" by Siow Li Sen (BT, June 29). SingTel's move to declare the remuneration of its top five executives should be lauded by one and
      326 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterBsph.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

  • 10949 22 SGX MAINBOARD Transaction date: Jul 4 S2-*k Td List Vol Day Lost Quote GrOtv Mv GrVW Not MCm WM> Low Code ftgfl Soto W- fOOO) HtjO Lowr fcg Soior Cw P* 5«3i 4 1 571$ 1st Software 5c 3 *0 5 191 3 2 2 3 12.1 145
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    • 37 22 Le maitre de I'horlogerie depuis 1875 lIP^HSp^If Available rtN( watches -m% WJfc HHton Hotel TW: 6738 9971 Nqm Ann City Trt: 6733 061® 4flflf.«,<* Jk 4igi|i^yyii^Lucky Plm "W: 6737 4646 Suntoc Ctty Mall TH: 8337 6160 r. ■>
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  • 6204 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES hi tec*cm hit HI USS dy %yt hdy *jr %yr Jut 3 Wg C?M.->gg r.Kiogc Q-.tiga Char>g« Wbrtthdafttlli iiJi 9983 07 24 07 05 Of Sj6 IMBMwt 9983 Oi ii M U M M ■irayi rnfmmv, ***** 06 3.7 OJ U U IU
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  • Page 24 Advertisements
    • 1157 24 UK CONTINENT SERVICE U.SJI SERVICE Destination Destination GO PRIDE RDM/ATW/BMN/TLB/NAN SEAFRIEND CAM/NFK/SAV/NOL LOK PRATAP RDM/ATW/BMN/TIB/NAN YOUYA VCW/lAX/MZL Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDOIE-EAST SERVICE SERVICE Destination BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT Destination ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysia, Indonesia Loads
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    • 615 24 p] DONGNAMA LINE Vtssa (WHY SUN) VOY MS KOttHARMUM MINI 04/17 IS/07 lOTA HASt HAS 427 It/07 10/07 KOUHAirn HIMM a/07 17/07 VBS&(IVBYSIM VOY SfiP HKG TRY YOK KM MKFOMUK ***** 00/07 11/07 17/07 10/07 M/ 07 MOI6UMY ***** 10/07 30/07 M/ 07 15/07 17/07 OU.UMTT Ml 70 a/07 17/07
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    • 727 24 vßsa/voY Mwroa) hbcwpd wo km io aw jkt STIAIISVBmitt 12/04 IS 04/07 09/07 13/07 14/07 11/07 snt/uis varum 3/04 is ji 20/07 23/07 27/07 mi 01/01 stouts remitf 14/04 is u 04/w 04/01 10/01 13/w is/00 I**—ihww mvKi I VBSa/VOT OAMPgT) HBBfnM)] IdSW MB STD MB. AM HE JKT I
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  • Page 25 Advertisements
    • 2181 25 WAN HAI MIfRNATIONAL PTE LID a NOc **********0/RI VT tIfAII ■I A I Iftiptfi TEL6226ISW (MUNIS) FAX: *****163 VAN > WAN HAI liNFN C ,o,! r S.rrfc./loofcivDhct Un (1800)*****200 Y V »™ll Imi NL TIL (03) 334 MM NUb (03) 3M232M1W TIL-(M) *****00 MX: (04}2nMff V JGHUL (07) 251WDfA)t (07)251mi
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    • 21 25 PLACE YOUR AD HERE The Business Times Shipping Times CALL MICHAEL CHNG AT 9862 9865 OR BERNARD ONG AT 967S 0002
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    • 811 25 |W WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS VESSEL VOY SIN PJOANgICOIORBO N. SHEVA COLOMBO HOWIAH lIIDGf 00S3W 041UI OSiUt MM 1 JUL It lUI HOTAPBTAMA |YPMO4I |0) AU6 02 AUG 06 AUG MAU6 13 AUG FOR KARMA Also ACOPTMG TUTKORM (13/7/tM IMUMHU 17/7/0*
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    • 852 26 HMoi'dana (Asia) Pte Ltd 70 Sherta* *21-03 Mrtw H-sa 0791 IS NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WEST!UN AUSTRALIA AND ISLANDS DATB A»E AlttlVAl DATES M SMgrt ZZI Ewbs m ISM 27 Jul 05 *uc QLAIS It/hi fffife S SS &S """W !»08 l»So 21 Sw MOct 09 Oct
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    • 1038 26 Iff fs— SWjfcg -rom gjp 3V ®Ssff ffiTT BL m =m=—s1—MM ais =m=- SB ~fir~ HLnrn FWMI W/V 01/07 W ***** 181 flw Hflf ■br- y'lll m ETlgH^ KB 111 §g I I IPWH It/I/ 101/01 I 95/n I 27/>7 I vissa voy sa poit ki/mg iri TT?lr rj PAC
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 6366 27 This ETA ETA Aftwttor VmmI Voyag. Tataphon* £T* ETA Advartkar VmmI ?<nn» Tetrtwe SIN DmTb Mmm Mm* NunlMr Numbar SM Dart 1 Nam* Nmm Numbar Wuwhir 1 llillll 1 II' IHIIIIjl'l 111 WIIMMMPIWWWWI 20/07 16/08 Own Shpg NEW DYNAMIC 117A *****898 -To ABIDJAN (ABJ)
      6,366 words

  • MOTORING
    • 443 28  -  Strong Honda sales snatch share from Korean make while Toyota is still No 1 By SAMUEL EE IT was hardly unexpected that Toyota would again race to the top of the sales charts after the first six months of the year. Instead, the
      443 words
    • 506 28  -  By RAYMOND LAI THE Chery QQ is the first Chinese-made car to be sold here. Launched last weekend in Singapore, the five-door mini is the latest in a list of models here from countries as diverse as Indonesia, the Philippines and even Slovenia. Founded
      506 words
  • Page 28 Advertisements
    • 3612 28 o (II) to modify and/or after th« JK Tech PSP from time to time, provided that such Shareholder (as defined In the Listing Manual of the Singapore Exchange Securities Trading •It modification and/or alteration it effected m accordance with the provisions of Limited) of the Company, in the JK Technology
      3,612 words

  • EXECUTIVE MONEY
    • 1141 29  -  MONEY MATTERS Understanding how the markets are behaving these days and why will enable investors to make better decisions JOSEPH CHONG IN OUR internal investment strategy paper for 2006 (excerpts of which were published in BT on Feb 8), we predicted that 2006 would
      1,141 words
    • 5935 29 UNIT TRUSTS FUNDS ACMGI Amer Income A USD 8.36/ ACMGI Amer Income B USD 8.3ft ACMGI Amer Income A EUR 6.53/ AMI Antra Asset Mgt (S port) ACMGI Amer Income B EUR 6.53/ Star Europe Eqty!" 0.93ft aCMGI Europ Income Opp AT SGO 15.04/ St* Europe Bond 1.169/ ACMGI Europ
      5,935 words
    • 1262 30  -  They dread meetings with investment managers, Jean Brunei, private banker to the super rich, tells GENEVIEVE CUA The framework for a portfolio for very wealthy clients can be vastly different from that for individuals who have just crossed the US$1 million threshold and those with
      Source: Brunel Associates; ARTHUR LEE  -  1,262 words
    • 820 30  -  A new wave of philanthropy has driven the poor little rich kid to extinction, writes MATTHEW LYNN MATTHEW LYNN Bloomberg CANCEL the wild parties. Forget the mad business ideas and the string of failed marriages. Tell the therapists to find something else to
      Bloomberg; AP  -  820 words
    • 261 30  -  BY Chua Boon Lee Standard Poor's Associate, Fund Services AS mast major asset dasses wSted under the spectre <rf higher global interest rate* money maris* funds as a group have withstood toe recent marie* volatility and emerged as ihe unStefcest winner m the returns sweepstakes
      261 words
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