The Business Times, 19 July 2006

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Total Pages: 30
1 30 The Business Times
  • 15 1 THE BUSINESS TIMES .SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Wednesday, July 19,2006
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  • 876 1  -  Businesses with exposure to the Japanese economy are reporting a surge in profits and revenues By OH BOON PING [SINGAPORE] Stocks with an eye on the Japanese market are set to ride the economic recovery in the land of the rising sun, notwithstanding
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  • 133 1 STI 2.333.81 (+13.61) ST INDEX FUTURES 2,334.00 (+13.00) siMsa ***** (+1.54) SIMSa FUTURES ***** (+1.90) MARKETS Tuesday Change KLSE COMP 908.68 +5.98 NIKKEI 225 14,437.24 -408.00 HANG SENG 16.043.94 -20.88 SET INDEX 659.58 +6.56 JAKARTA COMP 1,286.05 +2.10 MANILA COMP 2,191.78 +16.57 SEOUL COMP 1,233.42 -21.71 SHENZHEN B
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  • 534 1  -  Group upgrading its private banking rep office to branch By CONRAD RAJ [SINGAPORE] Global financial giants like Citigroup and ÜBS are not the only ones taking advantage of Asia's growing wealth. American International Group (AIG) one of the world's biggest insurers is also
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  • Page 1 Advertisements
    • 81 1 EXEC MONEY Not time to sell yet, say fund managers PAGE 30 4- -4'##44*'-4 4'44'44# 4 ♦^▼4##^s#4^4^'-^#'4'4♦'4'#'4'# -slf *'4 !itisitliiiii'tiliilii^iiii^^iil^i^tiitt sSfiiii^SiHfMl2 jiisJitHM'tiltis where the world REVOLVES AROUND YOU THE BOULEVARD 9 I I I f I TOWERING AT 180 METRES OVER 8 I I 1 ORCHARD BLVD BRINGS YOU S
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    • 4 1 Eh economy PAGE 2
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    • 10 1 INSIDER TRADING Ex-CAO trader Gerard Rigby fined $40,000 PAGE 4
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    • 45 1 MOTORING 7-seat SUVs appeal to different sexes IMPROVING RECEPTION v Star Hub gets its fair share of public criticism about its cable TV operation. Senior correspondent Wong Wei Kong suggests a way to head off such tirades PAGE 4 i mill 8"887i8i 1, *****4 n
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  • TOP STORIES
    • 676 2 Tax to come with cuts in other levies in early years Reuters [HONG KONG] After years of deliberation, Hong Kong outlined proposals yesterday for a goods and services tax aimed at putting government finances on a stable footing over the longer term. The
      Reuters  -  676 words
    • 809 2  -  By GENEVIEVE CUA [SINGAPORE] Leading insurer AIA is taking a step towards greater transparency. For the first time in its history, it will begin to disclose the annual investment performance of its "participating" fund, as well as details on how the fund is invested. The
      809 words
    • 63 2 IN yesterday's report, "Qian Hu Q2 net profit up 23.8% to $594,000", we said that the second quarter was its fourth profitable quarter since it posted net losses for the first half of 2005. This is incorrect. Qian Hu had reported a loss only for the third quarter of
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    • 626 2 Growth prompts speculation of interest rate hike to cool expansion AP [BEIJING] Driven by surging exports and a building boom, China's economy grew a stunning 11.3 per cent in the second quarter, the government said yesterday, raising expectations of an interest rate hike
      AP; AFP  -  626 words
    • 517 2 More jobs, higher salaries expected in Q3: survey THE Singapore job market has never looked better in recent years as more firms seek to add to their headcount and increase salaries, according to human resource firm Hudson. Its findings came from a survey of human resource decision makers
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    • 497 3  -  Survey also shows record number of upbeat HR execs since Q1 2001 By ROLAND LIM [SINGAPORE! The Singapore job market has never looked better in recent years as more firms in Singapore seek to add to their headcount and increase salaries, according to
      Source: Hudson  -  497 words
    • 625 3  -  This week's drop to US$75-plus a barrel just a breather: traders By RONNIE LIM [SINGAPORE] The market is just getting a breather, oil traders here reckon, as crude prices cooled marginally to US$75-plus a barrel in Asian trade yesterday, down from a sizzling
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  • COMPANY NEWS
    • 265 4  -  By WEE LI-EN FORMER senior China Aviation Oil (CAO) trader Gerard Rigby was fined $40,000 after he pleaded guilty to a charge of insider trading. Rigby was the deputy head of trading at jet fuel supplier CAO and responsible for the hedging
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    • 592 4  -  Performance below expectations as fierce competition hits bottom line By SIOW LI SEN MOBILEONE Ltd (Ml)'s second quarter net profit has fallen below market expectations, dropping 8 per cent to $36.9 million as fierce competition dragged down its revenue and pushed cost of sales higher.
      BLOOMBERG  -  592 words
    • 728 4  -  HOCK LOCK SIEW By WONG WEI KONG STARHUB'S cable TV operation has never been far from controversy. From time to time, public criticism is levelled at its services, pricing and programming. This is not unexpected given that it is the sole cable TV operator
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    • 545 4  -  By VEN SREENIVASAN WHILE Singapore Airlines continues to enjoy robust passenger numbers, it is seeing sluggish cargo loads and faces a potential capacity crunch within the next 12 to 24 months, analysts said a day after the airline revealed its June
      AFP  -  545 words
    • 614 5  -  It sees a pipeline of deals in equity fund raisings and M&As in the region By LESLIE YEE CURRENT equity market weakness will not derail the strong deal flow that investment banks are enjoying in Asia, according to a senior ÜBS banker. Rory
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    • 327 5  -  By JEAN CHUA THANKS to an exceptional gain, Dragon Land has reported a $13.54 million net profit for the first six months of the year, against a net loss of-$793,000 for the corresponding period last year. The Keppel Land subsidiary realised an exceptional
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    • 195 5  -  By KRITI SINGH CERAMIC tiles manufacturer ASA Group Holdings is expecting a loss for its first-half year ended June 30,2006. In a profit warning yesterday, it cited the following reasons: A fall in gross profit margin because of lower selling prices caused by the
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    • 471 5  -  By ARTHUR SIM MAINBOARD-listed construction company Chip Eng Seng Group will team up with Lehman Brothers Real Estate Partners II to build a high-end residential development in Cairnhill in a 50/50 joint venture. The site, formerly Venus Mansion, was acquired by
      471 words
    • 424 6  -  By ANGELA TAN SINGAPORE-LISTED Pacific Century Regional Developments Limited (PCRD) yesterday said that the company and controlling shareholder, Richard Li, {ire not providing any funding to Francis Leung to buy PCRD's 23 per cent stake in Hong Kong-listed PCCW. The statement was issued
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    • 568 6 Small investors' interests ignored in controversial PCCW stake sale THE controversial sale of a major stake in top telecoms company PCCW raises fresh doubts about Hong Kong's corporate governance and undermines its claim to be an international financial centre, analysts say. They said the deal
      568 words
    • 511 7  -  Poh Eng Seng to chart group's strategic business development plan By CONRAD RAJ SPEED printer Xpress Holdings, in an effort to inject greater professionalism into the once family-run company, has hired former senior DHL Express executive Poh Eng Seng to spearhead its global
      511 words
    • 340 7  -  By MICHELLE QUAH SESDAQ-LISTED Twinwood Engineering Limited the subject of a reverse takeover announced yesterday that it will be divesting its entire stake in its wholly owned unit, SinoTwinwood Pte Ltd (STPL). And it's doing so, for US$6 million in cash. Twinwood said
      340 words
    • COMPANY BRIEFS
      • 63 7 CDL Hospitality Trusts' initial public offering of 425 million units has been subscribed about two times, grossing $352.75 million. The public tranche of 15 million units was 6.6 times subscribed. The placement of 397.5 million units (excluding 12.5 million reserved units) to institutional investors
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      • 98 7 BOUSTEAD Singapore's subsidiary, PT Boustead Maxitherm Industries, has secured two contracts in Indonesia totalling about $14 million, 70 per cent of which is expected to be completed within the current financial year ending March 31,2007. The contracts involve the design, process engineering and
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      • 63 7 HENGXIN Technology Ltd said China Mobile Communications Group Corporation has increased the quantum of its contract signed with its subsidiary Jiangsu Hengxin Technology Co in May from 119 million yuan ($23.7 million) to 147 million yuan. It also said that China Mobile is likely to
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      • 57 7 KS ENERGY Services Limited has entered into a contract with an American drilling company to provide management services for the construction of a specialised onshore rig at a facility in nojth-west China. The duration of the project is one year and KS Energy
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      • 45 7 CAPITALAND'S two property trusts yesterday entered into a sale and purchase agreement to buy Raffles City from Tincel Properties, through a special purpose vehicle. The $2.1 billion acquisition, first announced in March, will be completed on Sept 1.
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      • 74 7 ENZER Corporation Limited, a distributor of electronic components and consumer products, has chalked up contracts of more than $2 million for its ENZERGoId series of Personal Music Centres. It said that it has received positive feedback from its customers in Brazil, South Korea, United
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  • Page 4 Advertisements
    • 418 4 INTELLIGENT BUILDING SEMINAR 2006,%^ M Seminar Coverage: > Future of the Building Systems Industry y 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
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  • Page 5 Advertisements
    • 88 5 Vorsprung durch Technik < J :J J J i i i I i i J The new Audi TT Coupe. The wait is almost over. Now yours to own with a special pre launch offer, for a limited time only. For more information, visit the Audi TT Lounge at www.audi.com.sg
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  • Page 6 Advertisements
    • 52 6 ,}.-v l aggressive busings environment and retain your company's mm competitive edlfe Realise your company's potential growth. THE ONE IS \j I I IB SYSTEM MANAGEMENT SOFTWARE fl K| jr W. air ■JMBMijl Jf Lv, V >* *> rk£: <»# > :L '-k m Hk V k *r i& ihi
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    • 146 6 Passions stirred senses soared Temptations unleashed Satisfaction an afterglow My Humble House For the Soul Exquisite Dim Sum, Lunch Dinner Tasting Menus Reservations: 6423 1831 MY 'HUMBLE HOUSE Cuisine: Contemporary Chinese World Gourmet Summit 2006 *Eu Yan Sang Asian Ethnic Restaurant of the Year Wise A Dine Top Restaurants Singapore
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  • Page 7 Advertisements
    • 1103 7 Singapore's First tlAUll F Independent Industrial REIT f ApDIY f|U™J 1 Initial Public Offer VpP closes TOOM. l Forecast yield of up to 2006 a tJ 0/ 2 lit' 0 fg f I of* Unite m int«gra| y muraple* of Units' WHY YOU SHOULD INVEST *On the aeaimption 9m the
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  • SINGAPORE MARKETS
    • 888 8  -  CURRENCIES Further out, downside pressure can easily resume LARRY WEE Senior Correspondent A SHARP escalation in Middle East tensions set the very unhappy tone for financial markets over the past week, sending oil prices to record highs, but punishing both the
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    • 208 8  -  CHART POINT By YEO KEE YAN, chartist at Kelive Research STOCK prices plunged during the past week, as the Middle East suffered from geo--1 political uncertainties that saw oil prices spiking to a new U5578.40 per barrel high. The
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    • 1009 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jul 18 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per More After Stock Pate Director Sefl '000 Shr S 000) 000 Memtech Intl 18-Jul-06 Chuang Wen Fu Buy 1000 0.23 7202 1.00 8202 1.14 C&O Pharm 17-Jul-06
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    • 284 8  -  Compiled by Chen Huifen Hengxin Technology July 18 dose: $0.49 KEIIVE RESEARCH, July 18 HAVING visited Hengxin's production facilities in Yixing, we are convinced that the company's growth prospects are here to stay. Despite a 32 per cent increase in production capacity and the seasonal effect of the spring
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    • 424 8  -  STOCKS R SIVANITHY Senior Correspondent THE local stock market regained some poise yesterday after suffering a battering over the past week, thanks to a relatively firm Monday session for Wall Street that spilled over throughout the region. It was not smooth sailing, however.
      424 words

  • SINGAPORE NEWS
    • 565 9  -  For supremacy in lucrative wealth management markets: PwC By LESLIE YEE THE business of private banking and wealth management is on the rise, especially in Asia, but the shocking fact is that banks pay little attention to retaining talent. According to a PricewaterhouseCoopers
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    • 310 9  -  By WEE U-EN LAWYERS will be able to attend court hearings through their mobile phones using 3G technology next year. However, this is likely to be limited to chamber proceedings which are usually of short durations. This is an improvement on the current Justice Online
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    • 330 9  -  By MICHELLE QUAH TWO professional bodies, representing over 10,000 members in Singapore, have come together to cooperate on life-long training for their members. The Singapore Human Resources Institute (SHRI) and the Association- of Chartered Certified Accountants (ACCA) signed a memorandum of understanding
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    • 310 9 FORMER air force personnel are to be helped into jobs in commercial aerospace companies by a new agreement between the Republic of Singapore Air Force (RSAF), the Association of Aerospace Industries (Singapore) (AAIS), and the Singapore Workforce Development Agency. The Partnership for Aero-Career Conversion and
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    • 515 10  -  It eyes serviced apartment use for part of condo project on site By KALPANA RASHIWALA FRASERS Centrepoint Ltd, which has emerged as the highest bidder for a condo site near Novena MRT Station with a bid of $238 million or $507 per square foot
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    • 236 10 THE Strata Titles Board (STB) yesterday gave the order for sale of Amberville in the Katong area. This marks the first collective sale of a privatised HUDC estate to be approved by STB, which has to give its nod for all en bloc sales that
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    • 256 10  -  By CHEN HUIFEN HOTEL guests should find their stay made easier as a result of developments inspired by a new US$l5O,OOO research centre being set up by Ngee Ann Polytechnic (NYP) and three other partners. The centre is intended to develop radio frequency identification (RFID)
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    • 224 10 THE latest phase of the Uniquely Singapore worldwide advertising campaign was outlined yesterday by the Singapore Tourism Board (STB).. The new campaign approach with the slogan "Beyond Words" will be seen on television and print ads for a year and is
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    • 513 10  -  By CHEN HUIFEN MORE than $1 billion worth of deals will be signed at this year's Global Entrepolis event, if the organisers' expectations are met. Global Entrepolis Singapore 2006 (GES), the international marketplace for the exchange of hinds, enterprise, innovation and
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    • SINGAPORE ROUNDUP
      • 70 10 HSBC will host an "Amazing Bank Race" to teach 10 to 12-year-olds to make financial decisions. In the programme, which runs from Aug 5 till Sept 30, the bank will use a series of tasks and challenges to help children learn how to
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      • 66 10 THE Ministry of Health has conducted a five-day training course for 20 Indonesian staff from various laboratories as part of the bilateral assistance package extended by Singapore to help in the fight against the threat of avian influenza. In the course, held
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      • 40 10 THE Centre for Creative Leadership (CCL) will offer two leadership development awards worth U556,500 each to individuals involved in leading non-governmental organisation work. Recipients will be fully sponsored to attend the centre's leadership development programme.
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    • 1887 10 eg NOTICES Tol! free: 1800-289-8822 Email: notices@sph.com.sg I BUY IT SELL IT FIND IT IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 ASIA INVESTMENT MANAGEMENT PRIVATE LIMITED COMPANY REGISTRATION NO. *****5883 C (IN MEMBERS' VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the Company convened and held at 2
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    • 373 10 M THE MATTER OF THE COMPANIES ACT, CHAPTER 50 ASIA GARDEN INVESTMENT (PTE) LTD COMPANY REGISTRATION NO. *****0351Z (IN MEMBERS' VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the Company convened and held at 2 Finlayson Green #03-00 Asia Insurance Building Singapore (*****7) on the 17* July 2006, the following
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  • Page 11 Advertisements
    • 2174 11 Special Feature Taking on the big boys Biosensors CEO Lu Yoh Chie relishes the challenge of going up against the major players in the biomedical industry L every new medi- company comes up |L 1 "V with, Lu Yoh Chie, 55, Interna- Jr has always to '^HH prove that he
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  • ECONOMY WATCH
    • 561 12  -  It sees 7.5% gain for this year; and 6.9% for '07 as key economies slow By ANTHONY ROWLEY in Tokyo THE Asian Development Bank yesterday published a strongly upbeat forecast for Asian economies in 2006 and next year, despite near-record-high oil prices, falling
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    • 2293 12 VOl General Corp 0.61 0.01 87 Jul 18 KM r<»0) Genting .23.20 0.20 276 George Kent .0.50 0.03 35 ASM Realty 1.39 unch 1 GHL Systems .022 0.01 4830 Atone .034 0.01 32 Gtotoetroma Tech 0.29 -0.01 1460 ACP Industries 0.91 004 118 GlomacBhd —123 unch 119 Advance
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    • 717 12 Reuters [BEIJING] A year since China untethered. the yuan from the US dollar, arguments are intensifying whether to let inflation rise in order to bring about the real exchange rate appreciation needed to adjust the country's lopsided economy. Wary of endangering export-related jobs, Bering has let
      Reuters  -  717 words
    • 421 12 Higher rates will raise corporate debt: White Paper Reuters [TOKYO] Japanese Economics Minister Kaoru Yosano said yesterday that last week's move by the Bank of Japan (BOJ) to raise interest rates from zero was a step towards having a more
      Reuters; REUTERS  -  421 words
    • 190 12 Bloomberg [TOKYO] Japan will consider taking measures to limit the flow of cash to North Korea as part of its sanctions for testing missiles, Finance Minister Sadakazu Tanigaki said. "We would like to consider appropriate measures to limit the flow of
      Bloomberg  -  190 words

  • MALAYSIA/INDONESIA
    • 636 13  -  Announcement follows ex-PM's stinging attacks on Mr Abdullah's govt By PAULINE NG in Kuala Lumpur PRIME minister Abdullah Ahmad Badawi has announced 880 development projects to boost the sluggish economy, under the Ninth Malaysia Plan (9MP). The announcement of the RMIS billion (556.6 billion)
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    • 213 13 M'sian TV operator to invest in Indon joint venture AP [KUALA LUMPUR] 1 Malaysian pay-television operator Astro All Asia Networks PLC said yesterday it plans to invest RMSOO million (Ss2l6 million) in a soon-to-be-finalised Indonesian joint venture over the next three to five years. "The investment will be in terms
      AP  -  213 words
    • 466 13  -  High demand for E&E goods evens out rising costs By PAULINE NG in Kuala Lumpur AMERICAN electronics manufacturers in Malaysia expect to sell RM72 billion (5531.13 billion) of electrical electronics (E&E) products this year, 9 per cent more than the previous year,
      AFP  -  466 words
    • 280 13 Reuters [KUALA LUMPUR] Malaysia yesterday cancelled a tender for its first wireless broadband licence, delivering a setback in the country's ambitions to become a leader in mobile high-speed Internet access by end-2006. At least three companies DiGicom, Redtone International and NasionCom Holdings were in
      Reuters  -  280 words
    • 336 13 Bloomberg [JAKARTA] Crude oil production in Indonesia, South-east Asia's biggest producer, fell to a 35-year low in June, as fields in Sumatra were closed for maintenance and rains disrupted drilling in Borneo. Crude oil production fell 1.1 per cent to 908,000 barrels
      Bloomberg  -  336 words
    • BRIEFLY ASIA
      • 57 13 Reuters [AMSTERDAM] Mittal Steel said yesterday the minimum conditions for its takeover offer of Arcelor 50 per cent of Arcelor's outstanding shares on a diluted basis—had been met. Mittal, the world's biggest steel maker, said the final results of the 25 billion euro (US$5O.l billion)
        Reuters  -  57 words
      • 66 13 Reuters [BEIJING] Agricultural Bank of China, the weakest of the country's big state lenders, yesterday posted an 18 per cent rise in operating profits in the first half, driven by a strong service-related income. Its operating profit reached 25.73 billion yuan (555.13 billion) in
        Reuters  -  66 words
      • 65 13 Reuters [HONGKONG] Link Reit, the largest property trust here, is expected to price its first bond issue of HK$2.4 billion (*****.2 million) today, market sources said. The deal, which will help refinance a HK$l2.5 billion bridging loan, comprises HKSBOO million of three-year fixed-rate
        Reuters  -  65 words
      • 58 13 Reuters IPANGANDARAN, Indonesia] At least 256 people were killed after a tsunami smashed into fishing villages and resorts on Indonesia's Java island, following a strong undersea earthquake, a Red Cross official said yesterday. At least four non-Indonesians were among the dead, 122 people were
        Reuters  -  58 words
      • 76 13 AFP [KUALA LUMPUR] Malaysia has been hit by haze caused by forest fires in Indonesia, leading to a sharp drop in visibility in a number of states including the resort of Penang, a senior official said yesterday. An official from the Meteorogical Services
        AFP  -  76 words
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      128 words
    • 65 13 fresh seafood by transforming them into extravagant dishes. Often described as a mini banquet in itself the luxurious melting pot of Mini Buddha Jumps over the Wall is yours to savour for only $35 (U.P $48 Must-try too is the unique and delicious double-boiled Ramose Milex (Shellfish) honeydew at $B**/person.
      65 words

  • GREATER CHINA
    • 275 14 [HONG KONG] SPG Land Holdings, one of the largest property developers in Shanghai, plans to raise up to US$2OO million in an initial public offering in September, The Standard reported sources as saying. The company will follow two other mainland property developers
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    • 252 14 Bloomberg [SHANGHAI] China Vanke Co, the country's largest listed developer, says it plans to raise as much as 4.2 billion yuan (SsB4o million) selling new shares to finance the construction of apartments in Beijing and Shanghai. The company plans to sell 700
      Bloomberg  -  252 words
    • 594 14 China ministry to get the right to sign off on red-chip transactions [BEIJING] China's Ministry of Commerce will release new rules in the next month which could effectively spell the end of red-chip listings of Chinese companies in Hong Kong, South
      594 words
    • 55 14 [HEFEI, China] Children fishing in a polluted river covered with algae here inAnhui province yesterday. China plans to invest 1.4 trillion yuan (Ss2Bo billion) in environmental protection in the next five years, state media said yesterday, to curb water and air pollution so severe that it causes
      REUTERS  -  55 words
    • 664 14 ANALYSIS Firms struggling with policy changes Reuters [SHANGHAI] Chinese firms may for the first time face major currency risks in the coming year— not only because the yuan is rising but because officials are shifting more responsibility for risk from the government to
      Reuters  -  664 words
    • 694 14 It eyes tie-ups with rivals to prevent a hostile takeover Bloomberg [SINGAPORE] China Steel Corp, the third-best performer this year in the Bloomberg Asia Pacific Iron/Steel Index, may seek cross-share-holdings with rivals to repel hostile bids spurred by Mittal Steel Co's takeover of Arcelor SA.
      Bloomberg  -  694 words
  • Page 14 Advertisements
    • 367 14 TPA STRATEGIC HOLDINGS LTD (Incorporated in the Republic of Singapore) (Company Registration No. *****3865N) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of TPA Strategic Holdings Ltd (the "Company") will be held at 3.45 p.m., on 11 August 2006 at 7 Temasek Boulevard #06-028
      367 words
    • 351 14 IN THE MATTER OF THE COMPANIES ACT (CAP 50, 1994 ED) AND IN THE MATTER OF BCV INVESTMENT ASIA (SINGAPORE) PTE LTD (In Members' Voluntary Liquidation) (Company Reg. No. *****5333N) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act (Cap. 50, 1994
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  • INDIA
    • 633 15  -  Organised retail seen rising 20-25% by 2010, with GDP trailing retail sector By PRIYANKA BHARDWAJ in New Delhi INDIA has resisted pressure from giants such as Wal-Mart, Carrefour and Tesco to permit foreign direct investment in the retail
      PHOTOS: REUTERS  -  633 words
    • 470 15 Nokia's withdrawal from CDMA ends their partnership Reuters [NEW YORK] Brightpoint Inc is talking to other telephone makers about distribution deals in India, hoping to bounce back from a decision by Nokia that effectively ends their exclusive partnership in that country, Brightpoint's chief
      Reuters  -  470 words
  • Page 15 Advertisements
    • 279 15 Session 1: Accounting in Harmony GUEST OF HONOUR It has bedn over a year since Singapore Mutator ofState" 3 adopted 20 new accounting standards. In Ministry of Finance Ministry of Transport. Singapore this session, the panel will consider the impact of international harmonisation on EVENT FACILITATOR investors and companies, focusing
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    • 85 15 Get your invitation to the morning with Mr Vikas Goel by filling in the form below and faxing it to: 6319 8292 by 30 July. For enquiries, please call Christine Ang at 6319 5119 or email her at anglccOsph.com.sg r E5O Leaders Talk I I I Name: 1 I Designation:
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  • ASIA-PACIFIC/WORLD
    • 654 16 MIDDLE EAST CRISIS Investors aware of risks, but lure of petrodollars strong Reuters [DUBAI/LONDON] Gulf Arab investors watching TV images of Israeli aircraft pound Lebanon with growing apprehension on Monday, but most could still see the allure of a country that has
      Reuters; AP  -  654 words
    • 598 16 Fighting in Lebanon should continue for a few weeks, says general Bloomberg [LONDON] Crude oil rose after an Israeli general said fighting in Lebanon should continue for "a few weeks", increasing concern that violence may spread to other nations in the Middle East,
      Bloomberg  -  598 words
    • 129 16 SINGAPORE is concerned about escalating tension in the Middle East and yesterday urged all parties, including Israel, to exercise restraint. It welcomed the Group of Eight nations' call for political dialogue to end the crisis. "We are seriously concerned about the escalating tension
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    • 288 16 Reuters [JERUSALEM] Staff at Intel Corp's Haifa research centre have been forced into bomb shelters as Hezbollah rockets rained on the northern Israeli city, but they are still working, thanks to the fact it's also wireless underground. The US chip giant's R&D centre
      Reuters  -  288 words
    • 321 16 AP. AFP [ANKARA] Turkey's government has ordered the military to plan for a possible cross-border offensive into northern Iraq to crack down on autonomy-seeking Kurdish guerillas based in the area, Turkish media reported yesterday. The reports, carried by NTV television and Hurriyet
      AP.; AFP  -  321 words
    • 299 16 LATEST US DATA AP [WASHINGTON] Wholesale prices in the US rose by a larger than expected 0.5 per cent in June but core inflation, excluding food and energy, edged up just 0.2 per cent. The Labor Department also reported yesterday that wholesale food
      AP  -  299 words
    • 301 16 Bloomberg [NEW YORK] Merrill Lynch Co, the biggest US brokerage, is doubling the size of its private bank in Japan, hiring investment bankers in Europe, and adding traders across Asia after trailing the rest of Wall Street in international markets. CEO Stanley O'Neal
      Bloomberg  -  301 words
    • WORLD WATCH
      • 51 16 Reuters [DUBAI] The Guggenheim Foundation will build its largest museum in Abu Dhabi. The foundation said it had been approached by the government of Abu Dhabi. It will be designed by architect Frank Gehry and will house international and regional contemporary art.
        Reuters  -  51 words
      • 71 16 Reuters [NEW YORK] The New York Times Co plans to make the size of its flagship newspaper narrower and close a printing plant, resulting in the loss of 250 jobs, the company said in a story posted on its website late
        Reuters  -  71 words
      • 45 16 Reuters [SEATTLE] Microsoft is changing its financial reporting to reflect a restructuring made in September. It would report its financial performance starting in the 2007 business year based on five businesses, down from the current seven operating divisions.
        Reuters  -  45 words
      • 53 16 Bloomberg [LONDON] HMV Group Pic, the UK books and music retailer that rims Waterstone's bookstores, appointed Simon Fox to succeed Alan Giles as chief executive officer. Mr Fox is currently chief operating officer of Kesa Electricals Pic. His appointment takes effect
        Bloomberg  -  53 words
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  • WORLD
    • 512 17 Record oil prices have boosted activity on energy exchanges Bloomberg [NEW YORK] Nymex Holdings plans to sell US$25O million of stock in an initial public offering as record oil prices and trading sparks interest in energy exchanges. Nymex is owner of the New
      Bloomberg; AFP  -  512 words
    • 205 17 Bloomberg [NEW YORK] Hewlett-Packard Co has developed a wireless chip the size of a rice grain that makes it possible to include text, audio, video and digital photographs with any object. The Memory Spot chip can transfer data at a rate of 10
      Bloomberg  -  205 words
    • 604 17 Elderly lured by free lunch that led to hard sell Reuters [WASHINGTON] Forty investment firms across America's Sun Belt are under federal examination over so-called "free lunch" investment seminars that target elderly victims, authorities said on Monday. In six states with
      Reuters  -  604 words
    • 233 17 Bloomberg [NEW YORK] Yahoo! Inc enhanced its finance section for the first time in five years, adding video and improving features such as charts and message boards. The upgrades provide access to more information on companies, including dividends, stock splits and technical indicators on share prices.
      Bloomberg  -  233 words
    • 492 17 Reuters [NEW YORK] Almost 30 per cent of companies under review manipulated stock option grants to top executives at some point in the past decade, according to a new study by two finance professors behind some of the research that has led to regulatory investigations.
      Reuters  -  492 words
    • 403 17 Its shares have risen 43% this year to lead the DJIA Bloomberg [NEW YORK] General Motors has rebounded from the biggest drop in the Dow Jones Industrial Average last year to become the gauge's best-performing stock this year. The turnaround is no
      Bloomberg; AP; REUTERS  -  403 words

  • AVIATION
    • 608 18 It drafts legislation td prevent hidden costs in fare offers AP. Bloomberg [BRUSSELS] The European Commission yesterday proposed legislation that would force airlines to advertise fares inclusive of all taxes, charges and fees, sparing travellers the shock of jaw-dropping hidden costs when it
      AP.; Bloomberg  -  608 words
    • 2131 18 CITY FLIGHT ETA FLIGHT ETC MM S2061 0630 S2082 0910 SQ407 0715 K860 0925 Adelaide LH9771 1750 LH9770 2345 £22 M05 ***** 1855 SQ229 2345 OenpasarlWi SQ141 1145 SQ142 0935 Ahm djtod °*25 SQ143 1535 SQ146 1640 S55 GA840 1640 GA841 1755 SQ323 0630 KL838 2255
      2,131 words
    • 311 18 AP [KUALA LUMPUR] Southeast Asia's largest low-cost earner, Air Asia, will raise its fuel surcharge for the second time this year on Aug 1 to offset a surge in jet-fuel prices due to hostilities in the Middle East. The Malaysia-based carrier
      AP  -  311 words
    • 456 18 FARNBOROUGH AIR SHOW It plans to set up a technology centre in UK and list in London AFP [FARNBOROUGH] European Aeronautics Defence and Space Company (EADS), the parent company of aircraft maker Airbus, said here yesterday that it was looking to Britain to help
      AFP  -  456 words
    • 205 18 AFP [FARNBOROUGH] Aerospace rivals Airbus and Boeing vied for supremacy on the second day of the Farnborough trade show yesterday with Boeing edging ahead in the competition to announce new business. European group Airbus revealed that Afriqiyah Airways of Libya had signed a preliminary
      AFP  -  205 words
    • 224 18 Bloomberg [SINGAPORE] Airports of Thailand Pel, which runs five international airfields including Bangkok and Phuket, plans to spend as much as 600 million baht (Ss2s million) to build a terminal for low-cost airlines, the third in Asia. The terminal is designed to handle 10-15
      Bloomberg  -  224 words
  • Page 18 Miscellaneous
    • 300 18 CRYPTIC CROSSWORD Hospital department bars vital JHI organs (8) r P 9 Flatter the woman, we hear iBI--10 Join together and marry round end of April (4) Unreasonable rogue to mess BBT jjjHT ■HT AH 12 American seal, say, before as- I'* I I I'® I I I car 17
      300 words

  • SHIPPING
    • 498 19 Bloomberg [LONDON] Shipping rates for liquefied petroleum gas (LPG), used to fuel cars and heat homes, will rise 10 per cent by the end of August, shipper Stealth Gas Inc said. Record crude oil prices triggered by violence in the Middle East, combined
      Bloomberg  -  498 words
    • 282 19 SGX '000 Mil S$ Vol CH Offshore 0.34 0.01 544 Chuan Hup —0.32 unch 2598 Cosco Corporation J 30 0.03 ***** CWT Distribution 0.62 0.01 140 Ezra Hldgs A19 0.02 272 Freight Links 0 0 0.01 883 Grand Banks Yacht 0.91 unch 0 Jaya Holdings 1.32 0.02 49
      282 words
    • 476 19 Liner grouping gauges M-E conflict implications on insurance costs [SINGAPORE] Some of the world's leading container lines may start slapping a war risk surcharge for cargo transported to eastern Mediterranean countries as fighting between Israel and the Hezbollah rages on. Shipping giants
      AFP  -  476 words
    • 200 19 Reuters [LONDON! Crude loadings at Syria's ports continued without disruption yesterday despite escalating violence between neighbouring Israel and Lebanese Hezbollah guerrillas, an official with Syria's state oil marketer said. Regional shipping sources said on Monday that Middle East violence had made
      Reuters  -  200 words
    • 334 19 Reuters, Bloomberg [SINGAPORE] Coal shipments at Australia's Newcastle port hit a nine-month high, and may break its record monthly coal shipments, the port operator said yesterday. Shipments rose to 1.8 million tonnes of coal, about 200,000 tonnes more for the week
      Reuters,; Bloomberg  -  334 words
    • 743 19  -  STRAIT TALK By DAVID HUGHES LAST year, the International Shipping Federation (ISF) held its annual oneday Manning and Training Conference in London in October, so that its representatives could return hot foot from Geneva with the latest on the negotiations on the
      743 words
    • PORT SHOTS
      • 127 19 Reuters [SINGAPORE] A petroleum products tanker was detained on Monday at the Bangladesh port of Chittagong following a collision with a bulk carrier on July 12, an official from the Chittagong Port Authority said. The empty tanker Atlantica 1, which was anchored at the port
        Reuters  -  127 words
      • 108 19 Reuters [OSLO] Royal Caribbean Cruises, the world's second largest cruise group, said yesterday that it had ordered a third 118,000 gross-registered-ton ship from German shipbuilder Meyer Werft. The first of the vessels, built for its Celebrity Cruises unit, is due for delivery in late
        Reuters  -  108 words
  • Page 19 Advertisements
    • 101 19 '"SHIPOWNERS HI Ship Registration I |#|s International Ship Registries (ISR) provides fast I V efficient service for registration licensing of I wfv ships under various flags. I Ship Classification I International Ship Classification (ISCiass) is an I (ir| independent organization providing classification i«cla«* services for newbuildings existing vessels as I
      101 words

  • EDITORIAL & OPINION
    • 550 20 EDITORIAL THE Bank of Japan (BOJ) has entered unknown territory for any major central bank by deciding to end its five-year-long policy of maintaining short-term official interest rates at near zero. That there will be domestic and international repercussions from the move is certain;
      550 words
    • 788 20  -  THE BOTTOM LINE FRANK CHING AN embattled president, an opposition leader who exudes sex appeal, an ageing opposition leader who refuses to fade away, and an aggressive and ambitious premier: these are the ingredients that make up the volatile mix in Taiwan politics today.
      788 words
    • 1570 21  -  Studies over the years have shown that models can better predict, for example, the success or failure of a business start-up By DOUGLAS HEINGARTNER NYT Amsterdam, the Netherlands Do you think your high-paid managers really know best? A Dutch sociology professor
      NYT; FILE PHOTO  -  1,570 words
    • 93 21  -  Denis Distant Singapore I REFER to the letter "Taxi operators should be more transparent" by Chim Howe Lai (BT, July 14). I agree with the writer that the taxi operators should take a look at their top executives remuneration and taxi rental charges, and
      93 words
    • 1225 20  -  In addition to the SEZs, the Indian government is pushing for Special Investment Regions (SIRs), inspired by success stories such as the Pudong New Area near Shanghai By RAHUL MUKHERJI, APARNA SHIVPURI SINGH SINGAPORE and India have enjoyed a special economic relationship since the
      FILE PHOTO  -  1,225 words
    • 172 21  -  Ms Koh Ching Ching Head, Group Corporate Communications OCBC Bank WE REFER to the "Broker's take: Research Report" (BT, Jul 18). We would like to clarify the comment appearing on page 10 by JP Morgan stating that "OCBC Bank's stock
      172 words
    • 199 21 I REFER to your article "SPC shares fall on lower oil reserves estimate" (BT, July 15). SPC's joint-venture partner SANTOS, released this market-sensitive news on ASX at 10.17 am (AEST) on July 14, that is, 8.17 am, Singapore time. SANTOS shares
      199 words
    • 384 21  -  LETTERS TO THE EDITOR Ang Hao Yao I REFER to the article "Who benefits most from capital reduction?" (BT, July 10). In recent years, many companies have undertaken capital reduction exercises. Often, this is through cash distributions or share buybacks. Companies usually cite improvements to earnings
      384 words


  • 10024 22 SGX MAINBOARD Transaction date: Jul 18 52-Wk Tal Last Vol Day Last Quote GrDtv Uv GrYW Nat MCap High low Coda Company Sala ('000) High Low «uyw SaWar Cw M tmll 4 1 5716 1stSoftware5c 2.5 2 3 10.1 12-5 6 3148 8Telecom US2c 6.5 -0.5 16 6.5
    10,024 words
  • Page 22 Advertisements
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  • 6277 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curt In S$ In UiS dy yr ily yr dy %yr lul IT lwd«« Chnny Chanqt CTiinq* Charxy Chanq» Ounqt Worid Inde* Preflrmnaiy 955.6 U -03 -34 -07 J7 EAft p-diitwwry 9543 -03 -15 -tt7 M -11 28 EurqptaHmwx ***** -M
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  • Page 24 Advertisements
    • 1547 24 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination AFRICAN LION RDM/ATW/BMN/TLB/NAN SEAFRIEND CAM/NFK/SAV/NOL Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIPPLE-EAST SERVICE SERVICE Destination ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT Destination PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT ORIENTAL RIVER INC/BSN WIN HONEY INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES Tramping
      1,547 words
    • 721 24 IINTIRASIA RORO SIRVICI VCSa/VOT RAJWPQCD HBGHT(M) PRO KCH lO W *T STRATTS VENTURE 13/0* 15 3.? 20/07 23/07 27/07 30/07 01/00 STRAITS VENTURE 14/06 15 3.2 04/00 04/08 10/00 13/08 15/08 STRAITS VENTURE 15/0* 15 3.2 17/08 20/08 24/08 29/08 31/08 I AUSTRALIAN ROUP SIRVICI 1 vissa/voY Riuwpqa) hbgwthw) m
      721 words

  • Page 25 Advertisements
    • 1250 25 WAN HAI INTERNATIONAL Pli LTD at NO: **********0/R VT rA TEL*****5M (HUMS) FAX: *****L63 \AM WAN HAI I InF\ C«toHmServke/locfckgsDirectL*-(1800)*****200 V TIV llftll llffl LIIILJ na«:|D3)3M6mHa:|n)lM2iatrailH:|MmsmMX:M2»MN V-" MIMMMM WMMMMMIMnVaM www wonhoi (Din *T HL(O2I]S7S4IBBHUt(O7I)S2S47BB putTIL7IUM/714X1 HUL7IUn www.Wßnnoi.tgin.ig KHH:(061)4l57ICm:(0tl) 415W25/4K7W HSU 90 KG BH KB K Wt W IW Id WS
      1,250 words
    • 1019 25 ~ST\ EASTERN CAR LINER, LTD V SPECIALIZE IN RORO t HEAVY LIFT UPTO 4SO TONS MTRA-ASU SIRVKI VOY Roy Ufttag SIN PGU PKI(N) KL(W) PNN *T LCI MUA SUI KCH ITU COSMIC HADE! 74 40 40 21/07 72/07 25/07 77/07 MMMAUQ 3 SO ~WST IW~ 27/07 ~3075T ULAC Ad 41
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    • 887 25 a as/;,' WEEKLY EXPRESS SAILING SCHEDULE I ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS vEssa vot sin pjllamg coionmo n. sheva colomoo —m— QIQSW I? JUL 2d Jill 2LUII ZZJUi JLUIi lAJIV GANDHI QIQSW 26 JUL OMIT 31 JUi. 03 AUG 07 AUG 111 ALSO ACCPTMG K1 TO
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  • Page 26 Advertisements
    • 828 26 aNodc.™ (Asia) Pie Ltd 70 Sh«aton Way, #21-03 Marina House Singaper* *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES VISSEI VOY Sawopore Downier Frwwwtfa Cotos Ishwd Q*hfos lsl—d Pasir G«dww blond Express t|sQs X 27 Jul SLllll 3L&US 12 Aug 2HAug blond
      828 words
    • 708 26 Mr=—Qn sfk— mm "3j —m-=m= bub ±r CHM! flMtf H/ijy K! 67 WMJkni Win 05/ M M/W -Mi —Ta B» —na H» 111 11 I B gßlisß Ii» I i Ilis I W' I jg&ft Ig» 1 jfc 1 ffjp] I IMDfPfNMMTSHBIT 001 U% 30/07 WM~ rKNATm* PNO3I I 11/
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    • 413 26 CONVENTIONAL SERVICE CHENNAI-MUMBAI-KANDLA 3RD AUGUST Heavy Lift upto 80 lons MV. UFE ETA STH AUGUST DUBAI-JEBEL AU-DOHA Heavy Lift upto 70 tons rm^ohY^V^Tl'o^ROuTl I( SINa 1970 I OWNS A OPERATES THE YOUNGEST FLEET I WITH FOURTEEN 7,000 DWT TWEEN DECKERS I COVERING THE ENTIRE ASIA PACIFIC PORTS j B REGULAR
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 5830 27 This ETA HA Advertiser Vassal Voy»9« Telephone ETA ETA Advertsar Vassal Voyage Telephone SIN Dasfn Nama Mama Number Number SIN Dasfn Name Name Ifcimber Numbar To DUNKIRK (DUK) 2117 France To ABIDJAN (ABJ) 2003 Cote D'lvoire 09/08 17/09 NGPL BOULARIBANK SP200 *****288 27/07 30/08
      5,830 words

  • MOTORING
    • 432 28  -  14 lots are up for sale, expected to fetch $350-$370 psf By SAMUEL EE ALMOST four years after 24 units at the Automobile Megamart Ltd (AML) were put up for auction, the remaining 14 unsold units will again go under the hammer this Friday.
      432 words
    • 655 28  -  By SAMUEL EE WOMEN are attracted by design while men are price-sensitive, or so the cliche in the car trade goes. This seems to be particularly true for seven-seat sport-utility vehicles, which bring together the rugged ldoks of a SUV with the functional
      655 words
  • 5866 28 UNIT TRUSTS FUNDS ACMGI Amer Income BT USD 8.421 ACMGI Amer Income A USD 8.3tl ACMGI Amer Income B USD 8.38/ AIM Amro Asset Mgt (S pore) ACMGI Amer Income A EUR 6.7/ Star Europe Eqty!" 0.894/ ACMGI Amer Income B EUR 6.7/ Star Eirope Bond 1168/ ACMGI Europ Income
    5,866 words
  • Page 28 Advertisements

  • EXECUTIVE MONEY
    • 1081 29  -  MONEY MATTERS Hidden dangers lurk amidst the conflicting signals; are investors going back into the market too early? PHILIP LOH THE global stock markets are now in their early stages of a cyclical bear market and the greatest danger facing investors is entering the market
      1,081 words
    • 1091 29  -  By CHET CURRIER Bloomberg INVESTING in stocks might be a whole lot easier if it weren't for the stock market. The market, made up of nothing more than a bunch of individual stocks, takes on a life of its own.
      Bloomberg; AFP  -  1,091 words
    • 1075 30  -  Now is not the time to sell, as fears of recession may be overblown, but patience is required, fund managers tell GENEVIEVE CUA GENEVIEVE CUA EQUITY markets weathered a turbulent patch in the last few months, but the coast isn't clear yet, say fund managers. Asset
      REUTERS  -  1,075 words
  • Page 29 Advertisements
    • 23 29 Releasing your financial results? Call 1800 289 8822 or email notices@sph.com.sg to book your financial results in our newspapers now. AT3 NOTICES j
      23 words
    • 48 29 DATES, TIMES AND VENUE Seminar times for Pan Pacific Singapore: Monday 24 July at 6:00 PM Tuesday 25 July at 7:30 AM Tuesday 25 July at 7:30 PM Private consultations available Monday 24 to Wednesday 26 July, 2006 Bookings: 800 616 1960 (Toll Free) Email: megan@majenda.com Web: www.majenda.com
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    • 216 29 I «r Jfo Did you the recent (Stock market If not, come to SEE fm how you carMBKE MORE PROFITS by determining precise NOW: $25.00 UP: $48.00 -For first 25 participant; points using the power of Japanese |Date Venue Time Applicable for stocks, currencies,; Hotel Rendezvous 7 30pm 10.00pm options,
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  • Page 30 Advertisements
    • 198 30 Choose a world leader for your FX trading. The Singapore office of IG Markets Is part of IG Group, aUK FTSE 250 company. With over (ILC\ /!OQA CI 1Q 30 years'experience and tens of thousands of individual clients, we are uniquely placed to offer you a professional trading service. 03/U
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    • 9 30 MONEY MATTERS Still bearish waters run deep pg 29
      9 words