The Business Times, 12 July 2006

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Total Pages: 30
1 30 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at .com.sg MICA (P) 099/03/2006 Wednesday, July 12,2006
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  • 855 1  -  MM Lee discloses figure for first time, saying GIC has grown in size, breadth and depth By CHUANG PECK MING, WONG WEI KONG [SINGAPORE] Minister Mentor Lee Kuan Yew disclosed for the first time last night that the Government of Singapore Investment
    LIM WUI LIANG / ST  -  855 words
  • 137 1 STI 2,415.91 (-22.54) ST INDEX FUTURES *418.00 (-23.00) siMsa 287.72 (-2.77) SIMSa FUTURES ***** (-3.40) MARKETS Tuesday Change KLSE COMP 924.60 -0.26 NIKKEI 225 15.473.82 -78.99 HANG SENG 16,490.13 -113.68 SET INDEX dosed JAKARTA COMP 1,343.94 +4,11 MANILA COMP 2,243.22 +4.38 SEOULCOMP 1,300.44 +1,15 SHENZHEN B 295.68 +0.02
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  • 430 1  -  By ROLAND LIM [SINGAPORE] Internet telephony service provider Mediaßing's sweetened takeover offer for Internet service provider Pacific Internet (PacNet) has failed. Mediaßing offered US$9.5O per PacNet share up from an initial US$B.25. But at the close of the offer yesterday, only 29
    FILE PHOTO  -  430 words
  • Page 1 Advertisements
    • 206 1 EXECUTIVE traders page bo ■■68^^ MOTORING Singaporeans love w Japanese models PAGE 17 MONEY MATTERS When volatility comes with the territory RAGE 29 a. Blasts on *p r T f" 3 seven Mumbai trains kill up to 100 v -Ji PAGE 3 IMli a < CO m 6 beeH turning
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    • 10 1 COMMENTARY What now for PCCW shareholders? PAGE 3 8 HI
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  • TOP STORIES
    • 471 2  -  Financing of up to 300% of a country's loan quota in event of capital flight By ANNA TEO [SINGAPORE] The International Monetary Fund, which will hold its annual meeting in Singapore in September, is looking into a new quick credit facility
      471 words
    • 572 2  -  By CRYSTAL NEO, JENNANI DURAI [SINGAPORE] As the final stretch of the Great Singapore Sale (GSS) approaches, retailers are confident that this year's takings will exceed last year's. The retailers that BT spoke to reported sales 10 to 30 per cent higher than
      YEN MING JIIN  -  572 words
    • 348 2  -  By JOANNAH PEREZ THE online edition of The Business Times Singapore's first news website to charge for access is getting an increasing following, with 3,288 subscribers to date. And if print subscribers who have activated their complimentary online accounts are included, then the
      348 words
    • 525 2 Tony Tan to spend more time at GIC FORMER deputy prime minister Tony Tan will spend more time at the Government of Singapore Investment Corporation and help shape the next phase of its growth and development. Having been involved in developing GIC since it was set up in
      525 words
    • 37 2 THE report headlined "Maybank revving up growth engine" (BT, July 11) described Spencer Lee as head of consumer banking of Maybank Singapore in a picture caption He is, in fact, head of consumer banking, Maybank Group
      37 words
    • 531 3  -  MM Lee pays tribute to former, current board members By CHUANG PECK MING [SINGAPORE] Former deputy prime minister Tony Tan will spend more time at the Government of Singapore Investment Corporation (GIC) and help shape the next phase of its growth
      531 words
    • 273 3 Reuters Bloomberg AP [MUMBAI] Explosions hit at least seven packed commuter trains in India's financial hub of Mumbai yesterday, killing up to 100 people and injuring countless others. Conflicting reports said between 70 and 100 people were killed in the blasts
      Reuters; Bloomberg; AP  -  273 words
    • 736 3  -  COMMENTARY SIOW LI SEN Senior Correspondent FOR the long-suffering minority shareholders of Pacific Century Regional Developments (PCRD) it has been a long six months leading up to yesterday's announcement that the company has sold its crown jewel a 23 per cent stake in PCCW in
      736 words
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 539 4  -  Results helped by exceptional gain from re-valuation of Paragon By WONG WEI KONG SINGAPORE Press Holdings (SPH) reported yesterday an 80.7 per cent jump in third-quarter net profit thanks to exceptional gains from the re-valuation of its Paragon commercial building and said it
      539 words
    • 390 4  -  By LESLIE YEE ABOUT a month after delaying its initial public offering (IPO) because of weak market conditions, Cambridge Industrial Trust (CIT) is hoping to be successful second time around. CIT is going out to the market with an improved initial forecast annualised
      390 words
    • 525 4  -  By SIOW LI SEN PACIFIC Century Regional Developments (PCRD) shares soared yesterday after the company said it would distribute to shareholders part of a staggering $1.9 billion gain that it will make from the sale of its 23
      525 words
    • 636 4  -  HOCK LOCK SIEW By WONG WEI KONG GIANT Wireless Technology says its losses are just a blip. But its patchy track record suggests investors should take that assurance with a pinch of salt. Giant chalked up a HK$ 146.5 million (Ss3o million)
      636 words
    • 245 4  -  By LESLIE YEE HIGH-FLYING Sarin Technologies whose share price had risen 141 per cent in the year to Monday crashed yesterday as investors sold out after a shock profit warning. The developer and manufacturer of advanced planning, evaluation and measurement systems for. diamond and
      245 words
    • 370 5  -  Customers alerted, scam websites in Korea and China closed down By LESLIE YEE OCBC Bank and Citibank said they have been hit by phishing attempts and have responded swiftly to protect their customers. Citigroup Singapore's corporate affairs director, Adam Rahman, said Citibank was alerted
      370 words
    • 454 5  -  By JEAN CHUA A QUESTION mark continues to hang over the accounts of Sun Business Network, after a new team of auditors agreed with a previous report, saying they could not accurately assess Sun's books. First Trust Partnership hired by Sun Business to audit
      454 words
    • 261 5  -  By WINSTON CHAI MOBILEONE (Ml) will dramatically boost the speed of its multimedia services through a $47 million upgrade to its third-genera-tion mobile network. The enhancement by the fourth quarter of this year will make Ml the first Singapore operator equipped with
      261 words
    • 428 5  -  By CONRAD TAN SSH Corp, which supplies industrial hardware, has been awarded an $11.7 million contract to supply steel plates for an offshore gas platform owned by oil giant Conoco-Phillips in Indonesia's gas-rich Natuna region. Speaking over the phone from Batam in Indonesia last night,
      428 words
    • 363 7  -  Frozen food producer posted 1.5b yuan in revenue in FY2005 By SWATI CHAUDHARY SYNEAR Food Holdings Limited, the China-based frozen food producer and developer, announced yesterday that it plans to list its shares on the main board of the Singapore Exchange. The
      363 words
    • 296 7 SINGAPORE Technologies Aerospace Ltd (ST Aerospace), the aerospace arm of Singapore Technologies Engineering Ltd (ST Engineering), yesterday announced that it would close down the operations of its subsidiary in Stavanger, Norway, in the third quarter of this year. The decision to close
      296 words
    • COMPANY BRIEFS
      • 62 7 IRAS okays SembCorp trade losses SEMBCORP Industries said the Inland Revenue Authority of Singapore has agreed that the compensation and related legal costs incurred in relation to the Solitaire arbitration are trade losses of Sembawang. These losses will be available for transfer within the group under the group tax relief
        62 words
      • 50 7 DEL Monte Pacific Limited has acquired the remaining 11 per cent stake in Abpak Company Ltd from Paul Leo Rasch for US$1.3 million. The purchase will be funded by the company's internal cash reserves and is expected to be completed on 17 July 2006.
        50 words
      • 55 7 ISDN Holdings Limited has acquired 33.33 per cent stake in ID1 Laser Services Pte Ltd by subscribing to 500,015 shares for $700,000 in cash. IDI provides laser cutting services and products, import and export of laser equipment and optical products. The investment will
        55 words
      • 27 7 OEI Hong Leong's stake in NATSTEEL Ltd (NSL) is back to 30.0151%, down from 31.0623% following his failed takeover offer.
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    • 381 7  -  Buyover of the logistics firm a share cash deal By WONG WEI KONG LOGISTICS group CWT Ltd is buying a commodity logistics business from its parent company for $32 million in a share and cash deal. CWT said yesterday it will buy
      381 words
    • 379 7  -  By KALPANA RASHIWALA CHIP Eng Seng Corporation's unliste4 property arm Chip Eng Leong Enterprise, which has been in the news for its acquisitions of collective sale sites this year and for a rumoured tie-up with a Lehman Brothers fund, will change its
      379 words
  • Page 4 Advertisements
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  • Page 5 Advertisements
    • 184 5 it be t(\.e re? res c^r^vt^crrt, j-v"crM» (^V*cJA.O*-< I'R,U? «S P speolcJlty pllio-u* tcr ]>e<L? 0V ot iuriA* 5 eo.Scri'vS Kve^kes •k-M.sow.ess Kvcnre p^ea.SM,v«/Wef ;jL. |pp" J., '~jictS2sa^||| Jwßk' .-J^iPP si'i^lik sV i reiw.eiwlj'eir? 4 Four Seasons Hotel .//sipsyawv' Single occupancy from Bed A BREAKFAST PACKAGE includes a Superior Room
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  • SINGAPORE MARKETS
    • 941 6  -  CURRENCIES Are 0.25 or even 0.5 per cent yen interest rates enough to scuttle the US$? LARRY WEE Senior Correspondent CURRENCY markets are starting the third quarter in pretty much the same way they did Q2, with the belief that an imminent peak in
      941 words
    • 1017 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jul 11 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director SeH '000 Shr S f000) f000) Miyoshi 11 -Jul-06 Sin Kwong Wah *Buy 10 0.14 ***** 14.77 ***** 14.78 Adv Integrated Mfg
      1,017 words
    • 273 6  -  Compiled by UMA SHANKARI Bio-Treat Technology July 11 dose: $1.25 MERRILL LYNCH, Juty 11 WE INITIATE coverage on BioTreat with a "buy" and a price objective of $1.43 based on DCF valuation. Given its strong project pipeline, we forecast an EPS CAGR of 14 per cent over FYO6E-09E
      273 words
    • 437 6  -  STOCKS R SIYANITHY Senior Correspondent CHINA stocks may appear to be in a separate asset class of their own which frequently beats a path separate from the rest of the local market, but they are clearly not totally immune from a rapidly weakening broad market.
      437 words
    • 211 6  -  CHART POINT By YEO KEE YAN chartist at Kelive Research THE Straits Times Index (STI) has remained range-bound in the past week. A technical pullback was halted at 2,400 but attempts to drive the index above 2,450 failed. The index
      211 words

  • Page 7 Advertisements
    • 184 7 In The Matter Of The Companies Act, Cap. 50 And In The Matter Of TRISTAR-ASIA PACIFIC PTE LIMITED Reg No. *****2777 D NOTICE OF CREDITORS' MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, CAP. 50 NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act, Cap.
      184 words
    • 187 7 jUI ii MM A I 3.SL models. Specification* Babject to chenge. Specifications vmry from model to model. X Vs'i 5$F -s5 -/•SfrCr SHlFT_modern luxury E F I RlO u»4n in lanan Cruise control Human Machine Interface System* Bi-xenon headlamps Memory driver seat (2 memories) Smart Screen Navigation System* Auto headlight
      187 words

  • SINGAPORE NEWS
    • 512 8  -  New owners pay $700,000 more than last offer at previous auction By MELISSA LOH TWO adjacent properties on Mohamed Sultan Road, which used to house Madam Wong's Bar, have been sold for close to $9.2 million. Once one of the hippest joints
      FILE PHOTO  -  512 words
    • 482 8  -  But infamous owner unlikely to affect sale By KALPANA RASHIWALA THE majority owners of Grange Tower have launched the collective sale of their homes with an asking price of $188 million or $1,255 psf of potential gross floor area. While that may not seem
      482 words
    • 327 9  -  Kerzner-CapitaLand unveil Frank Gehry as principal designer By UMA SHANKARI SENTOSA integrated resort (IR) hopefuls Kerzner International and Capita Land said yesterday they have the renowned Frank Gehry principal architect and designer for their joint bid. Mr Gehry's creations include the acclaimed Guggenheim Museum
      327 words
    • 352 9  -  Partnering Auric Pacific, it launches wine chillers first By JENNANI DURAI HONG Leong Asia (HLA) has partnered Auric Pacific Marketing to launch its own brand of Frestech consumer products in Singapore. The partnership kicked off with the launch of Frestech wine chillers
      352 words
    • 235 9 AS part of its aggressive plan to woo foreign students, Management Development Institute of Singapore (MDIS) will spend $10 million to build a student hostel. With the hostel slated to be ready next year, MDIS hopes to accommodate a foreign
      235 words
    • 321 9  -  By KRITI SINGH A RESEARCH collaboration announced yesterday will be involved in development work on the tiniest of electronic chips. Chartered Semiconductor Manufacturing will be working with A*Star's Institute of Microelectronics (IME), on a range of finepitch packaging technologies. Announcing
      321 words
    • 162 9 A 29-YEAR-OLD Singapore Armed Forces doctor, discharged with ignominy, has his medical registration suspended for three months after admitting he falsified a medical certificate, the Disciplinary Committee of the Singapore Medical Council (SMC) announced yesterday. At a disciplinary hearing held on May 29, Dr Kevin Ong
      162 words
  • Page 8 Advertisements
    • 2805 8 1 fischer tech ltd POWERMATIC DATA SYSTEMS LIMITED 4 JA I Company RegistrationNO. iWWJO4i4c Company Registration Number: *****4532R I (inw^wn^inSinß^wWiimtedliMi^ (Incorporated in the Republic of Singapore) I NOTICE OF ANNUAL GENERAL MEETING AND NOTICE OF BOOKS CLOSURE DATE MSSTWEM«BKEM^ Notice is hereby given that the Annual General Meeting of the
      2,805 words

  • Page 9 Advertisements
    • 1962 9 I I 1 A9P LAND CORPORATION LTD A (Company Registration No. *****1615H) (Incorporated in the Republic of Singapore) FABCHEM CHINA LIMITED not.ce or annual general meeting and books ci^sure (Incorporated in the Republic of Singapore) (Co. Reg. No. *****3128G) NOTICE IS HEREBY GIVEN that theTWnty-eighth Annual General Meeting of Stamford
      1,962 words

  • Page 10 Advertisements
    • 2583 10 JAPAN LAND LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number *****7417K) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Bth Annual General Meeting of the Company will be held at NUSS Suntec City Guild House, The Guild Room, 3 Temasek Boulevard #05-001 Surrtec City Mall,
      2,583 words
    • 1848 10 PACIFIC ANDES (HOLDINGS) LIMITED (Incorporated in Bermuda with limited liability) NOTICE IS HEREBY GIVEN that a Special General Meeting of the Company will be held at The Casuarina. Suite A, The Rattles Hotel, 1 Beach Road, Singapore *****3 on Thursday, 27 July 2006 at 2.15 p.m. (or soon thereafter as
      1,848 words

  • Page 11 Advertisements
    • 3977 11 [*AT^ NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg BUY IT SELL IT FIND IT TAT HONG HOLDINGS LTD (MCORPORMEO M THE REPUeuC OF SWOVOfIE) Company Registration No. *****5392H NOTICE 18 HEREBY GIVEN THAT the Annual General Meeting of the Shareholders of TAT HONG HOLDINGS LTD (the "Company") will be held at
      3,977 words

  • ECONOMY WATCH
    • 887 12 Move, expected on Friday, will signal economy has come out of doldrums NYT [TOKYO] As early as Friday, Japan's central bank is expected to take a momentous step in the nation's economic recovery: raise interest rates, effectively for the first time in
      NYT; FILE PHOTO  -  887 words
    • 519 12 Reuters [WASHINGTON] Henry Paulson, the former chief executive of Goldman Sachs, was sworn in as the 74th US Treasury Secretary on Monday, inheriting challenges that include pressuring China on its currency and soothing worries about trade and budget deficits. Mr Paulson's nomination earned high
      Reuters; BLOOMBERG  -  519 words
    • 606 12 AP [BRUSSELS] The 12 economies that use the euro are expanding faster than previous forecasts, but not all are taking heed of the EU's warning of making hay while the sun shines, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said.
      AP  -  606 words
  • Page 12 Advertisements
    • 1278 12 PACIFIC ANDES (HOLDINGS) LIMITED (Incorporated in Bermuda with limited liability) NOTICE IS HEREBY GIVEN that the Annual General Meeting of PACIFIC ANDES (HOLDINGS) LIMITED ("the Company") will be held at The Casuarina, Suite A, The Raffles Hotel, 1 Beach Road, Singapore *****3 on Thursday, 27 July 2006 at 2.00 p.m.
      1,278 words

  • MALAYSIA/INDONESIA
    • 490 13  -  Tony Fernandes also peeved over extra routes awarded to MAS By PAULINE NG in Kuala Lumpur CRACKS have appeared in Malaysia's domestic aviation plan less than four months after it was announced, leading to questions on whether it was properly thought through,
      490 words
    • 407 13 Bloomberg [KUALA LUMPUR] RHB Islamic Bank Bhd a unit of Malaysia's fourth-largest banking group expects financing for agriculture to drive growth in assets that comply with Muslim religious tenets, said chief executive Khalid Bhaimia. Assets at the bank may expand more than 10
      Bloomberg  -  407 words
    • 272 13 [KUALA LUMPURIA whopping 72 per cent of 29 new-ly-listed Mesdaq firms failed to meet the earnings forecast made in their initial public offer (IPO) documents. Malaysia's Business Times quoted a top Securities Commission (SC) official as saying. The number of companies itself
      272 words
    • 356 13 [JAKAßTA] Lawyers for the Indonesian government and the diversified Rajawali Group were locked in a marathon meeting on Monday as they rushed to finalise a deal for the sale of Cemex SA's shares in statecontrolled cement producer PT Semen Gresik
      356 words
  • Page 13 Advertisements
    • 28 13 the LAGUNITAGo 1 d Gold Class Experience •Terms and condition, apply World Class Club Laguna National Golf Country Club II Laguna Golf Green Singapore 4.***** 'Green fee. apply
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  • INDIA
    • 479 14 Scheme has annual sales target of US$25b by 2011 AFP [MUMBAI] Mukesh Ambani, one of India's leading businessmen, said he plans to create a million new jobs through an agrarian and retail revolution by building an Indian version of WalMart, the world's largest store chain. Mr
      AFP  -  479 words
    • 177 14 Economic Times [NEW DELHI] Japan on Monday said India would be the next area of focus for its investments but highlighted the importance of an EPA (economic partnership agreement) to augment bilateral trade between the two countries. "There is an urgent need to begin
      Economic Times  -  177 words
    • 255 14 NYT [BANGALORE] A decision by the Indian government to halt all sales of stakes in state-owned companies could crush investors' interest as it raises fears that a larger programme of economic change will be bogged down in politics. Last week, Prime Minister Manmohan Singh said
      NYT  -  255 words
    • 445 14  -  By PRIYANKA BHARDWAJ in New Delhi THE world's biggest shopaholics are in Asia, particularly India and China, an ACNielsen global survey on consumers' attitudes towards shopping has confirmed. This, in more ways than one, explains the clamour by retails giants such as the US$3OO
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    • 2247 14 vol GanaralGoip 0-62 -0.01 64 Mil an w- rmm Geoting -24.10 0.10 422 George Kant 030 OOI 148 A&MRaatty 140 -0.05 1 GHLSyitems 036 OOI ***** Mark. 0 0.02 30 GlofaMrankslKh 031 unch 406 ACP Industries 0» -0X>1 160 Gkmacahd 1-22 unch CO Advance Synergy 030 -001 209
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  • Page 14 Advertisements
    • 1361 14 Kta n Since 1928 BOUSTEAD SINGAPORE LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****1036K) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Boustead Singapore Limited (the "Company") will be held at 63 Übi Avenue 1, #06-01 Boustead House, Singapore *****7
      1,361 words

  • GREATER CHINA
    • 396 15 Brokers' overseas units may also be allowed to invest in China's brokerages Bloomberg [SHANGHAI] Taiwan's government may allow China's banks, insurers and securities brokerages to set up representative offices on the island, the Financial Supervisory Commission said. Taiwan may consider liberalisation based
      Bloomberg  -  396 words
    • 230 15 Reuters [HONG KONG] Asia's top refiner, Sinopec Corp, said yesterday it has no plans to take private crude oil jetty operator Sinopec Kantons Holdings Ltd, sending shares in the Hong Konglisted unit down more than 6 per cent. Sinopec Corp said it plans
      Reuters  -  230 words
    • 447 15 [BEIJING] The mainland's stock markets were the world's best performers among major exchanges in the first half of this year, a dramatic reversal after four consecutive years of finishing last, says a report in the South China Morning Post. The benchmark Shanghai Composite Index
      447 words
    • 5469 15 UNIT TRUSTS FUNDS ACMGI Amer Income BT USD 8.41/ ACMGI Amer Income A USD 8.38/ ACMGI Amef Income B USD 8.38/ AM Amro Asset Mgt {S'pore) ACMGI Amer Income A EUR 6.58/ Star Europe Eqty! 0.933/ ACMGI Amer Income B EU« 6.58/ Star Euope Bond 1.166/ ACMGI Europ Income Opp
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  • Page 15 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 526 16 Member govts want to ensure such pacts don't hinder flow of goods Bloomberg Reuters [GENEVA] The WTO mem-ber-governments have agreed to review regional trade accords to check they don't hinder the flow of goods. Such trade accounts for more than half of global commerce worth
      Bloomberg; Reuters  -  526 words
    • 529 16 Reuters [NEW YORK/LONDON] The fund-raising boom fuelling private equity deals has hit its peak and will soon slow, industry experts say, with institutional investors expected to stem the flow of capital pouring into buyout funds. The anticipated slowdown comes as mega-funds lure tens of billions
      Reuters  -  529 words
    • 44 16 AP [ULANBATOR. Mongolia] A Mongolian woman in traditional dress during the Naadam opening ceremony yesterday. Mongolians celebrated the 800 th anniversary of Genghis Khan's march to world conquest with festivities that mixed crass commercialism, genuine reverence and pure politicking. —AP AP
      AP  -  44 words
    • 353 16 Bloomberg [SEOUL] LG.Philips LCD Co, the world's second-largest maker of liquid-crystal displays. reported a record loss after screen prices fell and demand for televisions to watch soccer's World Cup missed expectations. The second-quarter net loss was 322 billion won (Sss3B million),
      Bloomberg  -  353 words
    • 335 16 AP [WASHINGTON] The White House yesterday touted new deficit figures showing considerable improvement upon earlier administration predictions, trumpeting the news as a validation of President George W Bush's pro-growth tax cuts. The deficit for the budget year ending Sept 30 will register US$296 billion
      AP  -  335 words
    • 329 16 Reuters [WASHINGTON] Legislation to close a loophole that allows retailers such as Wal-Mart Stores to own a bank was introduced in the US House of Representatives on Monday, a move aimed at walling off commercial companies from the financial
      Reuters  -  329 words
  • Page 16 Advertisements
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    • 62 16 Want the best price? Hold an auction. Call 1800 289 8822 or email notices@sph.com.sg to book your auction notice in our newspapers now. notices The Tavern Pub Restaurant (3VJJ&4A 227 229 River Valley Road, Tel: 6737 6995 IpIIkIIL 1 for_l Set Lunch at $46 1-for-1 Set Dinner at $60 J
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  • MOTORING
    • 554 17  -  Fall in COE premiums, yen have made Japanese cars more affordable By SAMUEL EE THE recent steady decline in COE premiums and yen have sharpened Singaporeans' appetite for Japanese models and allowed them to leave the once popular Koreans behind. In the first
      554 words
    • 337 17  -  By SAMUEL EE THE Renault franchise is likely to change hands for not more than $20 million, with current owner Peter Kwee planning to hand over stock and staff to the Wearnes group as early as next month. Mr Kwee, who is executive
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  • Page 17 Advertisements
    • 2642 17 >AT^ NOTICES Toll free: 1800-289-8822 Email: sph.com.sg BOV i T SELL IT FIND iT 4flh> HIAP SENG ENGINEERING LTD (Company Registration No. *****0300Z) NOTICE IS HEREBY GIVEN that the Annual General Meeting of Hiap Seng Engineering Ltd (the "Company") wiH be held at Rafier Country Club, Albatross Room, 450 Jalan
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  • AVIATION
    • 586 18 Regulator asks carriers to be prudent on fleet expansion Xinhua Bloomberg [BEIJING] Chinese airlines are expected to sustain an aggregated loss of more than three billion yuan (***** million) for the first half of the year despite brisk market demand,
      Xinhua; Bloomberg; BLOOMBERG  -  586 words
    • 267 18 Reuters [LONDON] Richard Branson's Virgin Atlantic Airways said it was not about to sell its stake in National Air Traffic Services (Nats) after a report said seven airlines, including Virgin, had put their stakes up for sale. Nats
      Reuters  -  267 words
    • 2202 18 rTT WJCIfT HJCttT MM S2061 0630 S2082 0910 1wn S0407 0715 IC860 0925 Abu Dhabi jQ456 1300 AI480 0740 AI481 1625 Adalaida LH9771 1750 LH9770 2345 IC859 0805 SQ406 1855 SQ230 1750 SQ229 2345 Danpasar Mi SQ141 1145 SQ142 0935 Ahmadabad SQ443 0825 W143 535 1640
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    • 371 18 AFP [SINGAPORE] South Korea should drop plans for an extra levy on air passengers, the International Air Transport Association (lATA) urged yesterday, adding to industry objections to the levy. The proposed 1,000won (SSI.7) levy would raise aid money for
      AFP  -  371 words
    • 378 18 Reuters Bloomberg [FRANKFURT] Germany's leading airlines criticised the government's privatisation plans for air traffic control firm Deutsche Flugsicherung (DFS) and warned that passengers might end up saddled with extra costs. The German government plans to sell a 74.9 per cent stake
      Reuters; Bloomberg  -  378 words
    • 182 18 AFP (KUALA LUMPUR] Loss-making Malaysia Airlines said yesterday that it will receive RM6SO million (*****.3 million) from its parent company for the early termination of an agreement to operate domestic air services. Malaysia Airlines said it entered into an agree- ment with Penerbangan Malaysia Bhd
      AFP  -  182 words
  • Page 18 Miscellaneous
    • 191 18 CRYPTIC CROSSWORD song (6) |W kpf^j|f^j|jv~j journey (9) Infant Magi finally found in 2 Ornament on bishop's mitre, 19 Democrat should, we hear. Dress rehearsals, 11 Erasure, 12 perhaps (6) chase girl (8) Tubbier. 13 Riveting, 15 Tepee, 18 3 Shrink's understanding (8) 21 Drunken ending it's on skid Plead,
      191 words

  • SHIPPING
    • 638 19  -  MPA division handles various surveys to ensure maritime safety By DONALD URQUHART [SINGAPORE] While hydrographic surveys for general navigational safety are the lifeblood of the Maritime Port Authority's (MPA) hydrographic department, a busy shipyard and port business, along with land reclamation, means up to
      TERENCE TAN/ST  -  638 words
    • 371 19  -  By ALEC ALMAZAN in Manila AFTER weeks of wrangling, the key players in the Billy Star chemical spill accident have come up with a workable plan to refloat the chemical barge and its cargo of 1,270 tonnes of highly toxic sulphuric acid.
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    • 254 19 AP [DUBAI] Dubai's state-owned port operator said it has stepped up cooperation with US Customs, announcing yesterday that its terminal in the Dominican Republic had joined the US anti-terrorist Container Security Initiative. The marine terminal at Port of Caucedo has
      AP  -  254 words
    • 368 19 Bloomberg [BEIJING] Ningbo, the world's fourth-biggest port by tonnage, handled 38 per cent more containers in the first half from a year earlier as it expands routes to tap China's rising trade volume. Throughput rose to 3.19 million 20-foot containers in
      Bloomberg  -  368 words
    • 288 19 SGX '000 Mil SS Vol CH Offshore .036 unch 48 Oman Hup 033 -0.01 294 Cosco Corporation 135 0.03 6312 CWT Distribution 0.60 unch 520 tzra Hldgs -220 -0 01 528 fretghtunks 0.07 -0.01' 379 Grand Banks Yacht 051 unch 0 Java Holdings 133 unch 397 K1 Venture
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    • 761 19  -  STRAIT TALK By DAVID HUGHES LAST Wednesday, as I was bringing a small training vessel back into harbour and lining up to enter the lock some 100 metres ahead, the three welcoming green lights unexpectedly turned to a much more ominous red. Actually, we were
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  • Page 19 Advertisements
    • 91 19 ASIA-WEST AFRICA TRADE AGREEMENT PORT CONGESTION SURCHARGES The Asia-West Africa Trade Agreement members have reviewed the port congestion situation in the West African ports and hereby advise that import port congestion surcharges will be adjusted to the following levels, as from July, 21st 2006: PORT TEU Luanda 360 USD Cotonou
      91 words
    • 82 19 ASIA-WEST AFRICA TRADE AGREEMENT MATADI (Democratic Republic of Congo) Emergency Terminal Congestion Surcharge (ETCS) Due to deterioration of operational conditions in the port of Matadi, the members of the Asia-West Africa trade agreement decide to increase the ETCS: The ETCS (Emergency Terminal Congestion surcharge) will be USD 780/TEU. These new
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  • EDITORIAL & OPINION
    • 525 20 EDITORIAL THE China segment in the local stock market has certainly come a long way in the six years of its existence. At the start, China stocks were frowned upon by "serious" investors because of their highly speculative reputation. In the early stages of
      525 words
    • 1467 20 The following is the full text of Minister Mentor Lee Kuan Yew's speech at GIC's 25th anniversary dinner last night at the Ritz Carlton PRIME Minister, Senior Minister, GIC colleagues, ladies and gentlemen: GIC was set up on May 22,1981 25 years ago. In
      AFP FILE PHOTO  -  1,467 words
    • 747 20  -  THE BOTTOM LINE FRANK CHING NORTH Korea's missile tests on July 4 have put the spotlight on China, which has to walk a tightrope as both the mediator between the US and North Korea as well as the latter's long-time ally.
      747 words
    • 1433 21  -  An open letter to Ben Bernanke from STEPHEN ROACH advises the Fed chairman on how to redeem his credibility STEPHEN ROACH Dear Ben, It's time to take a deep breath. You are off to a rocky start as chairman of the world's most
      REUTERS  -  1,433 words
    • 537 21  -  LETTERS TO THE EDITOR Peter Heng Director Corporate Communications SingTel WE refer to your Hock Lock Siew column, "Who benefits from capital reduction?" (BT, July 10). We would like to clarify that under SingTel's proposed capital reduction exercise, every shareholder is treated equally and no one
      537 words
    • 657 21  -  Quek Soo Beng Singapore I REFER to the letter "iN2015: aim for same-day cheque clearance" by Lee Yow Jinn (BT, July 6) and would like to reinforce his assertions. While technological improvement takes time to flow through, banks can do better for their customers now by
      657 words

  • Page 21 Advertisements
    • 224 21 INTELLIGENT BUILDING SEMINAR 2006AA .Seminar Coverage: > Future of the Building Systems Industry > Infocomm Technology in Intelligent Buildings > Embedding Intelligence in Homes and Living Spaces > Building Security Necessity or Differentiator > Using Intelligent Building Technology to Increase Workplace Efficiency, Minimize Operation Costs and Enhance Asset Value >
      224 words

  • 9693 22 SGX MAINBOARP 52-Wk Td Last Vol Day Lot Quota GrOtv My GrYld Nat MCap HW> law Coda Company Sato -W- (HOP) Hah lew »arar Sdhr Cw Wt tail 4 1 5716 1st Software 5c 2.5 2 2.5 10.1 13 6 3148 STelecom US2c 7 -0.5 31 7 7
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  • Page 22 Advertisements
    • 77 22 Welcome to Out till )<•(;}() 11 l( ll')( JI r-t !t r! f < t(.) t! It. •/.'< )l It i t tn Ill' ii (I III r k- I 'I I- ll! I M< ik» 1 < )l If 1 11 .ti.fi i' i I > t* It r
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  • 6172 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES taSS t»UM cy dy yr dy Ml 10 tndax Chang* Chtngt Chang* Ch-tnq« Chang* World inden Prefimmarj 989.4 05 10 01 -OS 0.2 51 iWilWiTOT m» 0* M 00 11 01 8.9 iir-jpe'n*-wan 1335j6 03 3.7 -04 17 -03 U7 Pacific 909.9 1.1
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  • Page 24 Advertisements
    • 1135 24 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination GO PRIDE RDM/ATW/BMN/TUB/NAN SEAFRIEND CAM/NFK/SAV/NOL AFRICAN LION RDM/ATW/BMN/TLB/NAN toad, Singapore, E./W. Indonesia Loqdt E./W. Motaywq, Indonesia MIPPLE-EAST SERVICE F.E./S.E.A. SERVICE Destination BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT Destination ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT ORIENTAL RIVER INC/BSN PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT WIN HONEY INC/BSN Loods Singapore, E./W. Malaysia, Indonesia Loads
      1,135 words
    • 357 24 DONGNAMA LINE 'I 1 i 1 COMTM—WW ■«V 10» VBSa (IVBIT SUN) VOY I~SOP IMG KOntMSK HAS 477 14/07 N/07 KOUHANA HTA4M 13/07 17/07 vfssatEvarsuN) vot ssp img i*t yo« iom MOi cum 4*175 14/07 10/07 N/07 N/07 17/07 MOIUHTT Ml 70 73/071 17/07 31/07 01/00 03/00 Htt'-MT IBUHMI VfSSagVBTSUO
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    • 698 24 INTERASIA RORO SERVICE vßsa/vor Mwrgm hbghiw wg rot io sm *r STOUTS VOTUKI2/04 15 3.2 04/07 M/ 07 13/07 14/07 11/07 stouts vemtuki 3/04 1$ 3.2 20/07 23/07 27/07 30/07 oi/oo STOUTS VEimtK 14/04 IS 3.2 04/01 04/01 10/00 13/00 IS/01 AUSTRAUAN RORO SERVICE I VBSa/VOY llMmnl WGHIW>| IP I
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  • Page 25 Advertisements
    • 1160 25 WAN HAI NVHtNAIIONAL PTE LID a NOc **********0/R "l TH: *****518 (14UNES) FAX: *****163 WaWAN HAI LINES ssssssssssssss^ I jniH:|HI)S»4I«MX:|ni)S2MmM«:7H»/7Uai BUL7HI7* WWW.WIIMI.tW.q MKLI»I)4IS7WHU:«»I)4ISW2S/4)CTW reu sw «g pm in im ito ra jws mo ra MM HAJ 716 ma 07/07 M/ 07 11/1)7 11/07 14/07 17/D7 W 21/07 2V07 24/07 WAN
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    • 1088 25 |-gT\ EASTERN CAR LINER, LTD vf 1 I SPECIAUZI IN ROKO HEAVY UFT UfTO 450 TONS MTtA-ASUSOVKI VOT laf Uhtag SM PGU PKUN) fKUW) WW II IP Ml Sl» »(H Mil white mituho 4 to lyoT 14/07 is/07 Wo; OCEAHILUE H3 SO "WoT IS/07 1 COSMIC IiADQ 74 40 tO
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    • 739 25 m s)ji& WEEKLY EXPRESS SAIUNG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS VKSa I VOT ISW t JQAN6 COUMMO USHm COUMMO lOTA ram man MM 12JUL UJUI LUli ZUIII INDIRA GANDHI OIOSW 20 JUL OMIT 25 JUI 28 JUI 01AII6 I' II I I ALSO ACQTTMG Kl
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  • Page 26 Advertisements
    • 783 26 MNordana (Asia) Pte Ltd 70 Shut—Woy, #21-03 Marino H«m S<t>9apof»o79riB NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS ARE mm DAIb IVKSfI VOY Shoapon Fra—th I QrirtwosisM Pwfrftd— Mblm m ILM MJ«I—MM 11to Uius Island Express !MZ 21M 2Ujl &isfi klond Express lE6OB HJej 02 oct 090ct
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    • 462 26 fe- -jm ffe- iiii; =K= ffiiai mS is/ay uyar tumu wb Iwmlwvw^ "Sm FR353 TT7S7 "®bsu SjR «==i=3mß HngminH ISTiste-»|i&t|iar^p^ VflY SW POtT KIANG CHfTTAGOHG HmH V**" PAC MAKASSAR "jjaF QVQ7 10/07 12/07 lt/07 TtTOT 17/17 S tyoy 23/07 M/07~ J*H Shpura UwCfab—" Vn Shtyr* M«rt« PACPALAWAN 749N Jjji PKAJUUb
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    • 149 26 TIGER SHAU 404N 15-14/07 21-23/07 29 30/07 405N 19 20/07 25 27/07 01-01/08 406N 23-23/07 28 30/07 05-06/ M TIGER UY 407K 25 26/07 01-03/08 OW9/W JUJ|ll6aSrtAltK ***** 29-30/07 044)6/01 12-13/00 ■MMfflWMunuvaißi 020 13-14/07 21-23/07 31-01/01 BtuUlblTKa CIJFF 031N 20-21/07 26-21/07 05-06/08 644 21-29/07 0547/00 13-14/00 21-23/07 27 27/07 MTTfIniTW
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    • 431 26 CONVENTIONAL SERVICE COLOMBO/MUMBAI/KANDLA 14TH JULY DAMMAM, BANDAR ABBAS LOADING 17TH JULY Heavy Lift upto 200 tons fpt GLORY NAHMTMN GROUPI I( SMa 1970 I OWNS OPERATES THE YOUNGEST FLEET wrm FOURTEEN 7,000 DWT TWEEN DECKERS I COVERING THE ENTIRE ASIA PACIFIC PORTS I REGULAR WEEKLY SERVICES: IKAOHSIUNG A CHINESE PORTS,
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 6097 27 This ETA ETA Advartfcar Vassal Voyaga Telephone ETA ETA Advartkar Vassal Vayafa Tetaphani SIN Oasfn Name Naata Nnmlm Numbar SIN Dast'n Nama Name Number Number wS*SSSS*l*SSSS*****SSS********SSSSbt*tSSSSSHK 16/08 28/08 IRISL IRAN TABATABAEI PCL 8151 *****144 To ABIDJAN (ABJ) 2003 Cote D'lvoire To DUNKIRK (DUK) 2117
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  • EXECUTIVE MONEY
    • 1015 28  -  Going by where demographics, incomes and global trade are headed, emerging market equities remain undervalued while their risks are near their 15-year low, Pioneer Investments believes. TEH HOOI LING reports TEH HOOI LING THE message was repeated speaker after speaker at Pioneer Investments' Asia Investment
      1,015 words
    • 500 28  -  By GENEVIEVE CUA EMERGING markets are in for a time of volatility, but if you can stay invested for the long term, the experience should be rewarding, says Principal Global chief executive Jim McCaughan. Emerging markets suffered steep drops between April and
      500 words
    • 262 28 This week, S&P Fund Services looks at emerging markets Although the MSCI Emerging Market Index (EMpssWupizu* since January2oos, it has lost aknost 15% since May erasing its once substantial yeartxlate gain, Given the inherently volatflity of tNs asset da* the fact that it outperforms in
      Source: S Services  -  262 words
    • 1280 29  -  MONEY MATTERS Wild gyrations, heart-stopping though they may be for the average investor, are part and parcel of trading in Asian markets WONG SUI JAU NVESTORS in equity markets B have experienced some volaB tility. From May sto June 13, B many equity markets
      1,280 words
    • Article, Illustration
      1104 30  -  Finance professor Terry Odean tells GENEVIEVE CUA why investors had better think twice if they're in the market for a quick buck GENEVIEVE CUA SOME five to six years ago, finance academic Terrance Odean was asked by a friend's girlfriend over dinner whether she should give up her
      1,104 words
  • Page 28 Advertisements
    • 1360 28 THE companies ACT (CHAPTER SO) wcr in the matter of ams merchandising pte ltd (Co. Rag. No. *****3967Z) (in creditors' voluntary uquidationi |Hw Company*) Extract of the minutes at the Extraordinary members of the Company convened and hold at Ayer Street, Singapore, *****0 7thjuiy2oo6atio.ooa.m. (i WINDING-UP- SPECIAL RESOLUTION That the
      1,360 words

  • Page 29 Advertisements
    • 19 29 Inviting tenders? Call 1800 289 8822 or email notices@sph.com.sg to book your tender notice in our newspapers now. notices
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    • 508 29 PF 1 v ;'^7Fl£3Bhrbmb^^^^^^^BH^^^H j» f'j..' *>^g%ra&MBMMHHI^^MMi 4 \i^l Enjoy poterflj Benefit from p|p|m|^H|^^^*| growth 2 in infrastructure anidrap^fi|^H|H Achieve limited proprietary trad^]H^|^^B^H ?iN^SBIB^^I B IS i-^HH -'tf I I '>•.- ''^^wKtfi ;fe-<»:; inH'f 4JIIhIMW^BB 'N jif i JT^jwilSslsSMM^KS^igßaMßMlMHi m Mi /^ff>a^pp^|^H^H-tf^^K9BHi II b I I I I Ull HHI
      508 words

  • Page 30 Advertisements
    • 52 30 i WITH COFACE, TURN EVERY CUENT INTO A GOOD CUENT Turn to Coface to: PROTECT MANAGE 'FINANCE Your Trade Receivables TRADE SAFELY. CREDIT INSURANCE. INFORMATION 8c RATING. RECEIVABLES MANAGEMENT. BONDS a GUARANTEES call coface Singapore at (65) *****700 Contact us at marketing@coface.com.sg <ouonßEr:»rt2o7> coface C SINGAPORE^ WWW.COFACE.COM.SO YOUR TWADE RI»K»,
      52 words
    • 104 30 INVESTMENT All about emerging markets pg 28 This Great Singapore Sale, Hf, a better body awaits. The Great Urban Homme Sale Lost 19.1 kg rUn OH| add 118.3 Cm Satisfied Cl»m jHsl Q uiool/Q of URBAN HOMME r JfiH|^ r 111 O WCtSIVO (Partway Parade) MR J§|g i |S;> wm
      104 words