The Business Times, 21 July 2006

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Total Pages: 30
1 30 The Business Times
  • 17 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg MICA (P) 099/03/2006 Friday, July 21,2006
    17 words
  • 524 1  -  Inflation seen staying in projected 1-2% range despite oil price hike By ANNA TEO [SINGAPORE] There is an increasing risk of a sharper slowdown in the world economy not least because oil prices are likely to stay high but Singapore's economic growth
    524 words
  • 137 1 STI 2,383.54 (+41.75) ST INDEX FUTURES 2,384.00 (+42.00) siMsa 282.88 (+5.19) SIMSa FUTURES 283.20 (+5.90) MARKETS Thursday Change KLSECOMP 916.62 +4.64 NIKKEI 225 14.946.84 +446.58 HANG SENG 16,472.62 +375.08 SET INDEX 668.96 +8.85 JAKARTA COMP 1.315.59 +35.09 MANILA COMP 2,247.40 +65.83 SEOUL COMP 1.273.30 +39.65 SHENZHEN B 289.48
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  • 719 1  -  By' WONG WEI KONG [SINGAPORE] Former minister and Singapore Press Holdings (SPH) chairman Lim Kim San died yesterday evening. He was 89. Mr Lim, who has been ill in the last few months, passed away peacefully at home at 5.38pm, surrounded
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  • 432 1 In his letter of condolence to the family. Prime Minister Lee Hsien Loong pays tribute to a remarkable Singaporean: 'MY wife and I are deeply saddened to learn of the passing of Mr Lim Kim San. Please accept our deepest condolences
    432 words
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  • TOP STORIES
    • 371 2  -  Relief rally for markets as Fed chief suggests rate hikes may stop soon By R SIVANITHY [SINGAPORE] Regional stocks yesterday regained some of the ground they lost last week, thanks mainly to comments by US Federal Reserve chairman Ben Bernanke on Wednesday which suggested that
      371 words
    • 596 2 President S R Nathan pays tribute to Mr Lim Kim San: 'SINGAPORE has lost one of its illustrious sons. Among the founding generation of leaders of independent Singapore, Mr Lim Kim San was the least known. He refrained from publicity despite the monumental
      596 words
    • 224 2 Farrer Court goes en bloc FARRER Court is set to overtake Gillman Heights as the biggest collective sale site to hit the market. TOP STORIES, PAGE 3 SIA mgt influence vital SINGAPORE Airlines should secure management influence in China Eastern Airlines should it invest in the latter, analysts
      224 words
    • 811 3  -  Farrer Court is estimated to cost almost $1b, pipping Gillman Heights By KALPANA RASHIWALA [SINGAPORE] Earlier this week, Gillman Heights made the headlines as the biggest collective sale site to hit the market. But an en bloc sale now in
      ARTHUR LEE  -  811 words
    • 682 3  -  By MICHELLE QUAH [SINGAPORE] Greater corporate accountability and better governance is more about good ethics and the right spirit than having more rules and measures to check behaviour, Minister of State for Finance and Transport Lim Hwee Hua said yesterday. Speaking to
      682 words
  • Page 2 Advertisements
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  • COMPANY NEWS
    • 561 4  -  Analysts say this as SIA confirms talks with airlines such as China Eastern By VEN SREENIVASAN IF it does buy into China Eastern Airlines (CEA), Singapore Airlines will have to ensure that it does not find itself stuck with a lossmaking
      561 words
    • 287 4  -  Hearing of corruption charge from Aug 25-Sept 4 By WONG WEI KONG FORMER Airocean chief executive Thomas Tay has claimed trial on the corruption charge against him. Trial dates were set at a pre-trial conference yesterday. The case will be heard in the
      287 words
    • 649 4  -  HOCK LOCK SIEW By R SIVANITHY SHORT-SELLING or the selling of something not originally owned with a view to buying it back later at a lower price has today become an accepted part of the local stockmarket scene, having evolved from an activity
      649 words
    • 704 5  -  Analysts say larger players with more diversified market base unaffected By MATTHEW PHAN TWO water-related companies issued profit warnings last week, as reporting season kicked in. But most analysts remain upbeat on the sector. They say this because the two companies that issued warnings
      704 words
    • 643 5  -  Weibang Int'l, partners to own 98.69% of Greatronic By TEH HOOI LING GREATRONIC Ltd, in which share trading has been suspended since May last year, is now the subject of a reverse takeover by a Chinese maker of plastic-lined steel pipes. It
      643 words
    • 301 5 TEN members of City Developments Ltd's controlling Kwek family have bought a total of eight units at the group's Oceanfront Sentosa Cove condo, which were selling like hot cakes last week. The units cost between $3 million to $4.25 million each, after discount.
      301 words
  • Page 4 Advertisements
    • 1893 4 CAMBRIDGE INDUSTRIAL TRUST- CAMBRIDGE I 1111 r I a I (a unit trust constituted on 31 March 2006 under the laws of the Republic of Singapore) OFFERING BY CAMBRIDGE INDUSTRIAL TRUST MANAGEMENT UMITED (THE "MANAGER"), AS MANAGER OF CAMBRIDGE INDUSTRIAL TRUST ("CfT") IN RESPECT OF 206,109,000 UNTTS REPRESENTING UNDIVIDED INTERESTS
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  • SINGAPORE MARKETS
    • 533 6  -  STOCKS ST Index jumps 41.75 points after his supposedly dovish testimony sends stock prices surging R SIVANITHY Senior Correspondent WHEN he warned about rising US inflation at the end of April, US Federal Reserve chairman Ben Bernanke was cast in the role of a
      Source: Bloomberg  -  533 words
    • 1024 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jul 20 and earlier) Subsantiat No of Wee SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stodi Date Director Sefi '000 Shr ('000) ('000) Vita HIdas 20-Jul-06 Chong Thim Pheng Buy 460 na ***** 11.80 ***** 11.98 Sim Lian Grp 19-Jul-06
      1,024 words
    • Article, Illustration
      929 6  -  Compiled by MATTHEW PHAN Capita Land July 20 dose: $4.24 CLSA ASIA-PACIFIC MARKETS, My 19 WE HAVE downgraded Capita Land from "buy" to "uriderperform" due to higher risks in its China investments, which were originally a major reason for our positive call. We believe China's retail and residential segments
      Source: Bloomberg  -  929 words
    • 491 6 CURRENCIES Reuters [TOKYO] The dollar inched down yesterday after Federal Reserve chairman Ben Bernanke said inflation would likely ease in the coming quarters, cooling expectations that the central bank would bump up interest rates again in August. The Fed chiefs remarks before
      Reuters; BLOOMBERG  -  491 words

  • COMPANY NEWS
    • 464 7  -  Lead movers include Venture Corp, Creative and Elec Eltek By OH BOON PING SHARES of technology stocks rallied yesterday following the positive earnings reports from peers such as Apple and Motorola. Contract chip maker Chartered Semiconductor Manufacturing rose 5 cents to $1.34 with
      464 words
    • 329 7  -  By ARTHUR SIM FAR East Organization (FEO) has set up a new business arm called Far East Retail Consultancy Pte Ltd (FERC). It will be headed by retail veteran Vivienne Tan, formerly from Frasers Centrepoint Ltd where she was the general
      329 words
    • 275 7  -  By ARTHUR SIM KEPPEL Land's real estate investment trust, K-Reit Asia, announced its maiden financial results yesterday and its distributable income of $2.8 million was 17.5 per cent higher than its forecast. K-Reit was listed on the Singapore Exchange on April 28 following
      275 words
    • 5175 7 UNIT TRUSTS FUNDS ACMGI Amer Income BT USD 8.44/ ACMGI Amer Income A USD 8.4/ ACMGI Amer Income BUSO 8.4/ ABN Amro Asset Mgt (S'pore) ACMGI Amer Income A EUR 6.66/ Star Europe Eqty!** 0.904/ ACMGI Amer Income B EUR 6.661 Star Europe Bond 1.161/ ACMGI Europ Income Opp AT
      5,175 words
  • Page 7 Advertisements
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  • CFO FOCUS
    • 1209 8  -  Pacific Healthcare financial controller Victor Sim enables the management to make better-informed decisions, says CHEN HUIFEN CHEN HUIFEN Rumour has it that the head of the finance department at Pacific Healthcare Holdings has a bed secretly folded somewhere in the office because nobody seems to have ever seen
      YEN MENG JIIN  -  1,209 words
  • Page 8 Advertisements
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  • COMPANY NEWS
    • COMPANY BRIEFS
      • 57 9 MCL Land's second-quarter net profit rose to US$2.B million from US$l million in Q205. The increase was due mainly to write-backs of tax provisions in previous years worth US$2.3 million, said the property developer. Its revenue fell 32 per cent to US$4O3 million due to
        57 words
      • 51 9 ZHONGGUO Powerplus Industries said it has come to its attention that its controlling shareholders are in preliminary talks which may lead to a general offer for all the company's shares. It stressed there is no certainty that any proposal, offer or transaction will result from these
        51 words
      • 66 9 SINGAPORE Press Holdings said its subsidiaries, Futura Management Ltd and Morningvista Investments Ltd, have been dissolved on June 13 and July 5 respectively following members' voluntary liquidation proceedings. The two were investment holding companies incorporated in the Cook Islands and British Virgin Islands respectively. The dissolutions
        66 words
      • 41 9 PSC Corporation said its subsidiary Health Solutions (Malaysia) Sdn Bhd had terminated the memorandum of understanding with PT An-Bach Indonesia for a sub-contract to build medical facilities and other works on a turnkey basis in Indonesia.
        41 words
      • 33 9 KEPPEL Land said its director, Lim Ho Kee, has purchased a unit at Ritz Residences for $2.22 million. The sale price was derived after a discount of 14.5 percent.
        33 words
      • 20 9 CAMBRIDGE Industrial Trust's initial public offering of 206.1 million units has been subscribed about two times.
        20 words
    • 382 9  -  Award of 35.3 m shares to 90 employees, including three directors By SWATI CHAUDHARY LEO Star Development, a major shareholder of C&O Pharmaceutical Technology, is to distribute about 35.3 million of the company's shares to more than 90 employees, in appreciation of
      382 words
    • 386 9  -  But analysts say it's just an accounts integration issue By MATTHEW PHAN SHARES of Hong Leong Asia (HLA) rose five cents to $1.45 yesterday as analysts shrugged off concerns over its subsidiary China Yuchai International's (CYI) failure to meet an extended deadline for
      386 words
    • 306 9  - Nera Telecom's Q2 net slips 16.1 By CONRAD TAN NERA Telecommunications' net profit fell 16.1 per cent to $3.8 million in the second quarter, due mainly to lower revenue from its core telecoms division. The .telecoms service provider blamed delivery delays and lower sales of microwave radio equipment for the
      306 words
    • 293 9 Reuters [BANGKOK] Total Access Communication (TAC), Thailand's second-largest mobile phone operator, said yesterday that its sec-ond-quarter net profit rose 11.3 per cent due to strong subscriber growth. Singapore-listed TAC said that its net profit came to 1.2 billion baht (Ssso million) for the
      Reuters  -  293 words
  • Page 9 Advertisements
    • 87 9 E5O Leaders Talk In 1996, Vikas Goel came to Singapore with no jf# capital. He went on to build eSys, which today has a turnover exceeding SS3 billion and has 114 offices in Mm*' 35 countries around the world. We offer you the rare H opportunity to meet this remarkable
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    • 463 9 11 THE MONETARY AUTHORITY OF SINGAPORE I TENOR APPROXIMATELY 2 YEARS I II*.; TOTAL AMOUNT OFFERED SGD 1,200,000,000 I I MINIMUM DENOMINATION SGD 1,000 I MAS' INTENDED TENDER AMOUNT NIL Ij| (NON-COMPETITIVE) I ISSUE CODE NX9BIOOH (REOPENED) I I I ISIN CODE 5G********** I ISSUE DATE/SETTLEMENT DATE 1 AUGUST 2006
      463 words

  • SINGAPORE NEWS
    • 489 10  -  Corporate debt issuance last year highest in 10 years, up 46% y-o-y Reports by LESLIE YEE THE corporate debt market in Singapore turned in a healthy performance in 2005 with total outstanding volume of corporate debt increasing by 11.5 per cent
      489 words
    • 271 10 Two other GCBs were withdrawn from auction A GOOD Class Bungalow (GCB) at 27 Cornwall Garden which once belonged to one-time Alfa Romeo's Singapore franchisee Kenneth Chow was sold for $11 million at an auction by Knight Frank yesterday. The buyers are
      271 words
    • 360 10  -  It will include a minimum one-day off for maids By WEE LI-EN ALL accredited employment agencies placing foreign domestic workers and employers hiring such domestic help will have to use standardised contracts, which include* a minimum one-day off every month, by mid-September. The
      FILE PHOTO  -  360 words
    • 262 10  -  By JAMIE LEE THE integrated resort project will attract a diverse crowd of tourists, and this is an opportune time for small and medium enterprises (SMEs) to meet these different needs. SMEs can expect up to 35 pier cent of tourism
      262 words
    • 399 10 THE Monetary Authority of Singapore (MAS) made a profit of $1.22 billion in its latest financial year, which ended on March 31, it reported yesterday. The central bank's profit was down 68 per cent from the $3.85 billion of the previous financial
      FILE PHOTO  -  399 words
    • SINGAPORE ROUNDUP
      • 69 10 THE third "home-grown" partner in the Boston Consulting Group (BCG) has been elected vice-president and director in Singapore. Jeffrey Chua, who has been with the firm's Singapore office since 1999, will continue to be based in Singapore. He joins Koh Kim Wee and Vincent Chin who
        69 words
      • 84 10 LAST week's VivoCity job fair was well attended by both job-seekers and employers, with 15,000job applications received at the fair, which was held on July 14 and 15. Three hundred applicants were offered employment on the spot. Another 1,500 have been shortlisted and will
        84 words
      • 50 10 CHUAThian Poh, president of the Singapore Chinebe Chamber of Commerce Industry, will lead a 24-member business delegation to Malacca and Kuala Lumpur on July 24 and 25. Delegates will meet Malaysian Minister of International Trade and Industry Rafidah Aziz and other senior officials.
        50 words
    • 362 10  -  By SAMUEL EE NISSAN Asia Pacific was awarded International Headquarters (IHQ) status yesterday and used the event to highlight the significance of its over US$3OO million Asean automotive parts programme unveiled earlier this week. The IHQ award is presented by the Economic Development Board to
      362 words
  • Page 10 Advertisements
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  • ECONOMY WATCH
    • 723 11 Fed Reserve chairman's text is modestly dovish, US analysts say Reuters [NEW YORK] Federal Reserve chairman Ben Bernanke warned on Wednesday that stubburnly high inflation could harm the US economy and that the US central bank must guard against rising prices taking
      Reuters; AFP  -  723 words
    • 780 11 Reuters [BEIJING] Calls are growing for China to cap gushing liquidity at the source by letting the yuan rise faster, but policy makers are likely to keep a tight grip on the currency for fear of job losses, analysts say. They say the
      Reuters  -  780 words
    • 493 11 Bloomberg [GENEVA] Antigua has persuaded the World Trade Organization to conduct a new probe into US curbs on foreign online betting companies, saying the Bush administration flouted a WTO order to open up the country's gambling market. The Caribbean islandnation may
      Bloomberg  -  493 words
    • 304 11 Reuters [HONG KONG] Asia-Pacific hedge fund assets rose by almost 12 per cent in the first half of 2006 to reach about US$l2B billion, a slowdown from growth of more than 30 per cent a year earlier, trade publication Asia Hedge
      Reuters  -  304 words
    • 681 11 Reuters [TOKYO] The Japanese economy has finally emerged from a decade of stagnation but it now faces the challenge of managing a "double exit" from years of loose monetary and fiscal policies, the Organisation for Economic Co-oporation and Development (OECD) said yesterday. In a
      Reuters; REUTERS  -  681 words
  • Page 11 Advertisements
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      172 words

  • MALAYSIA/INDONESIA
    • 515 12  -  Market gains 1.55% on funds being released into flagging economy By PAULINE NG in Kuala Lumpur THE initial clutch of projects to be awarded under the 9th Malaysia Plan (9MP) has helped the stock market weather the fall-out from higher oil prices, but
      AP  -  515 words
    • 2335 12 VOL General Corp ....0.60 unch 92 Jul 20 C000) Genting 23.80 -0.20 457 George Kent .0.49 -0.01 37 ASM Realty 1.45 0.06 5 GHLSystems .0.22 unch 5468 Abric 0.33 unch 44 Globetronics Tech 0.30 0.01 690 ACP Industries 0.92 0.01 185 GlomacBhd 1.23 0.02 12 Advance Synergy 0.19
      2,335 words
    • 178 12 Reuters [KUALA LUMPUR] Malaysian mobile phone firm DiGi.Com Bhd posted a 78 per cent jump in sec-ond-quarter net profit yesterday on strong subscriber growth and declared a maiden interim dividend. The company, the smallest of the country's three mobile players, said profit grew
      Reuters  -  178 words
    • 463 12 Push for alternative fuel sources amid surging oil prices [JAKARTA] The Indonesian government is preparing to build eight biodiesel factories in the country in a move to provide an alternative. to expensive fossilbased fuels, The Jakarta Post reported. The paper quoted the
      463 words
    • 285 12 Bernama [PETALING JAYA] Malaysia's commitment to intellectual property (IP) protection will help in its free trade agreement (FTA) negotiation with the US, said Minister of International Trade and Industry, Rafidah Aziz. "If we can give adequate IP protection to the American investors, they will come
      Bernama  -  285 words
    • 297 12 Reuters [KUALA LUMPUR] Malaysia's stock exchange warned investors yesterday of the perils of investing in speculative stocks after several of them nosedived. Bursa Malaysia did not name any stocks but pointed to some high price volatility in some shares and urged investors to base investment
      Reuters  -  297 words
    • BRIEFLY ASIA
      • 89 12 AFP [MUMBAI] Indian oil and petrochemical giant Reliance Industries Ltd said yesterday its first-quarter net profit jumped 10.2 per cent helped by a strong rise in exports. Reliance, the country's biggest private sector company, said net profit totalled 25.47 billion rupees (SsB63 million)
        AFP  -  89 words
      • 86 12 AP [BOMBAY] Indian shares rose sharply yesterday, ending a five-day losing streak, after comments by the chief of the US Federal Reserve, Ben Bernanke, eased investor worries about prospects for higher US interest rates. Strong earnings results from Ranbaxy Laboratories and Reliance Industries
        AP  -  86 words
      • 126 12 Reuters [HONG KONG] China's state-owned Citic Group has no plans to merge its mainland and Hong Kong banking units as such a move is unlikely to obtain regulatory approval, the South China Morning Post reported yesterday. Citic officials had in the past
        Reuters  -  126 words
      • 100 12 AP [BEIJING] A Chinese consortium has announced plans for a US$l.3 billion real estate project in St Petersburg that it says will be China's biggest investment to date in Russia. The announcement of the Baltic Pearl project comes amid official efforts to expand Chinese-Russian
        AP  -  100 words

  • GREATER CHINA
    • 602 13 Each bank seeks stake of up to 20% in Guangdong Development Bank Reuters [SHANGHAI] Citigroup Inc and Societe Generale (SocGen) were set to submit revised, rival bids for China's struggling Guangdong Development Bank, with each bank seeking a stake of up to 20
      Reuters  -  602 words
    • 464 13 Writ seeks US$207m in costs and compensation [BEIJING] Liquidators launched a group action yesterday to gain U*****.67 million in compensation for 1,300 investors who lost money in the collapse of CSA Absolute Return Fund in one of Hong Kong's highest-profile hedge fund scandals,
      464 words
    • 304 13 Trumps rivals Dell's 9.4% and HP's 12% shares in Q2 Bloomberg [SINGAPORE] Lenovo Group Ltd the world's third-largest personal-com-puter maker widened its sales lead over larger rivals Dell Inc and HewlettPackard Co in Asia excluding Japan in the second quarter. Lenovo had a
      Bloomberg; Source: Reuters; REUTERS  -  304 words
    • 462 13 Bloomberg [SHANGHAI] Daqin Railway Co operator of China's biggest coal transport network said its 15 billion yuan (Ss3 billion) share sale attracted bids worth almost nine times the stock on offer, as investors sought to benefit from the country's rising energy demand. China's
      Bloomberg  -  462 words
    • 402 13 Reuters [BEIJING] Chinese urban property prices rose 5.8 per cent in June from a year earlier, unchanged from the rate in May in the wake of tightening measures to curb speculation in the sector imposed earlier this year. Average property
      Reuters  -  402 words
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  • INDIA
    • 536 14  -  Telcos, media, content solutions firms jostle to offer data services By SIDDHARTH SRIVASTAVA in Mumbai [NEW DELHI] With the number of mobile phones in India crossing 100 million recently, making it the fifth largest market in the world, the business woven around the gadget
      AFP  -  536 words
    • 332 14 [NEW DELHI] Wal-Mart is in talks to appoint New Del-hi-based real estate developer DLF Ltd as its franchisee in India, according to the Business Standard. The stores could be located in DLFs malls or be standalone structures, the newspaper reported yesterday. The
      332 words
    • 275 14 Economic Times [AHMEDABAD] Money, and not job security, is on the minds of Oil and Natural Gas Corporation's (ONGC) senior executives. The 48,000 crore rupees (5516.6 billion) domestic oil and gas major is facing a serious human resource crisis even at the top levels. The
      Economic Times  -  275 words
    • 400 14 This comes after RBI revised PD ops guidelines Economic Times [MUMBAI] Most multinationals are looking at amalgamating their primary dealership arms within their banking outfits. This follows a revision of guidelines on operations of primary dealers (PD) by the Reserve Bank of India
      Economic Times  -  400 words
    • 348 14 The Economic Times [BANGALORE! International marketing guru Philip Kotler on Wednesday urged India Inc to start communicating its possibilities in areas other than IT. "The software message has been communicated to the world. We are impressed. Now please market your other skills globally," he
      The Economic Times  -  348 words
  • Page 14 Advertisements
    • 2735 14 :*AT3 NOTICES BUY IT SELL IT FIND IT IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF HIGHLAND PARTNERS (SINGAPORE) PTE LIMITED (Co. Reg. N0.*****1076C) NOTICE OF RESOLUTIONS FOR MEMBERS' VOLUNTARY WINDING UP (PURSUANT TO SECTION 290) At on Extraordinary General Meeting of the members
      2,735 words

  • ASIA-PACIFIC/WORLD
    • 523 15 Index of US leading indicators rises 0.1 LATEST US DATA June increase is first in 3 months, on increased consumer confidence Bloomberg [WASHINGTON] An index of leading economic indicators rose in June for the first time in three months, boosted by higher consumer confidence and improvement in the labour market
      Bloomberg  -  523 words
    • 559 15 AT —WP [NEW YORK] Chip giant Intel Corp posted its biggest quarterly profit drop in more than four years on Wednesday as Silicon Valley continued to ride out a rough summer. Only Apple Computer offered a little sunshine in a week of
      AT—WP  -  559 words
    • 320 15 AP [WASHINGTON] Microsoft Corp said on Wednesday that it will allow competitors' software to appear more prominently than its own on the new Windows operating system, scheduled for sale next year. The European Commission fined the software giant US$357 million last week for
      AP  -  320 words
    • 755 15 Bloomberg [BEIRUT] Israeli aircraft attacked Hezbollah's headquarters in south Beirut as top US, European Union and United Nations officials prepared to discuss the conflict after appeals by Lebanon for a truce. Air force jets dropped about 23 metric tons of explosives on
      Bloomberg; AFP  -  755 words
    • OTHER RESULTS
      • 98 15 AP [HELSINKI] Nokia Corp, yesterday posted a 43 per cent growth in second-quarter earnings, boosted by rising sales and a settlement related to the sale of a Turkish operator. Net profit for the April-June period was 1.14 billion euros (552.2 billion), up from
        AP  -  98 words
      • 115 15 Reuters [SEOUL] South Korea's Hynix Semiconductor yesterday posted a 36 per cent rise in quarterly profit as surging shipments of memory chips offset steep price declines in NAND flash memory. The company's outlook appears buoyant in the second half as shipments of
        Reuters  -  115 words
      • 91 15 Bloomberg [NEW YORK! Ford Motor Co reported a second-quarter loss of US$l23 million as sales of light trucks fell and the company offered buyouts to reduce jobs in North America. It also plans additional efforts to cut expenses in North America. The net
        Bloomberg  -  91 words
      • 75 15 Bloomberg [BANGKOK] Bangkok Bank, Thailand's largest lender by assets, said secondquarter profit fell 21 per cent as the resumption of tax payments offset a rise in lending. It's the third quarter in a row that the lender's profit declined. Net income dropped to 4.39
        Bloomberg  -  75 words
  • Page 15 Advertisements
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  • AVIATION
    • 591 16  -  It's seen to be in talks with domestic carriers there for some form of tie-up By VEN SREENIVASAN IN A move which would enable it to sidestep the ban on foreign low-cost carriers operating into Indonesia, Singapore-based Tiger Airways is "close" to setting
      FILE PHOTO  -  591 words
    • 2217 16 CITY HJCHT tTA FLIGHT tTP A1480 1520 SQ406 1855 DanpasarBali SQ141 1145 S0142 0935 ADuPbabi 5Q455 1135 GCBHT 0830 JO" 3 ]|35 VF541 1630 Adelaide LH9771 1750 LH9770 2345 GA840 f*° !iS »W> vS2 St ImS mo AimUrdtm L***** 0630 AZ3993 2255 SQ323 0630 KL838 2255
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    • 503 16 AP, Bloomberg [KUALA LUMPUR] Malaysian budget carrier Air Asia said yesterday it has firmed up options to buy 40 more Airbus A 320 jets bringing its total order from the European jet maker to 100 to gear up for domestic and regional
      AP,; Bloomberg  -  503 words
    • 252 16 Bloomberg [SYDNEY] Macquarie Airports, the world's second-largest publicly traded airport owner, plans to raise As4so million (£5534.9 million) to help fund the acquisition of a further 15 per cent stake in Sydney Airport Macquarie Airports has an option to buy the stake
      Bloomberg  -  252 words
    • 439 16 First direct cargo flight since 1949 carries TSMC equipment AP. AFP. Xinhua [TAIPEI] Taiwan's largest air carrier on Wednesday launched the first direct cargo flight between the island and China since 1949, signalling a small but important breakthrough between the longtime rivals.
      AP.; AFP.; Xinhua; AP  -  439 words
    • 451 16 Bloomberg [DALLAS] American Airlines, the world's biggest carrier, reported its highest quarterly profit in six years and Southwest Airlines's earnings more than doubled on increased fares and travel demand. AMR Corp's American said on Wednesday that net income rose fivefold to US$29l million, or US$l.l4
      Bloomberg  -  451 words

  • SHIPPING
    • PORT SHOTS
      • 85 17 Bloomberg [LONDON] Sailors on UK-controlled merchant ships will be offered double pay to go to Lebanon and the Israeli city of Haifa, Lloyd's List said, without saying where it got the information. The pay offer will apply to any region designated a "warlike
        Bloomberg  -  85 words
      • 59 17 Bloomberg [LONDON] Hyundai Heavy Industries Co, the world's biggest shipbuilder, won contracts to build two container ships for two fterman shipping Companies foi* delivery in 2009, the shipbroker Fearnleys AS said. South Korean shipyards had 38.5 per cent of the world's back orders in the
        Bloomberg  -  59 words
      • 85 17 Bloomberg [LONDON] Nanjing Tanker Corp, a Chinese shipowner, ordered four oil-product vessels from the country's Bohai Shipbuilding Heavy Co Ltd to be'delivered in 2009, shipbroker Fearnleys AS said. The tankers will each be 0f46,000 deadweight metric tons, a measure of a ship's capacity
        Bloomberg  -  85 words
      • 76 17 Bloomberg [ATHENS] MS Tanker Shipping Ltd ordered a double-hulled very large crude carrier from Mitsui Engineering Shipbuilding Co Ltd, four years before new regulations that will limit the use of its two existing single-hulled ships. The new vessel will have a capacity of 310,000 deadweight
        Bloomberg  -  76 words
    • 517 17  -  It's one of five big players bidding for US$900m build and operate job By DONALD URQUHART [SINGAPORE] PSA International is among five major container terminal operators who have submitted preliminary bids to build and operate a US$9OO million container terminal project at the
      FILE PHOTO  -  517 words
    • 773 17  -  ADMIRALTY CASEBOOK By SELVA KUMAR THE jurisdiction of a US district court over a foreign ship owner does not turn on the nationality of its head charterer. Instead, the test was simply the extent of the foreign owner's connection to
      773 words
    • 325 17 [BEIJING] China's growing demand for oil will require Chinese shippers to build between 40 and 50 supertankers over the next five to six years, the head of Norwegian classification society Det Norske Veritas (DNV) said yesterday. Henrik Madsen, chief executive officer of DNV,
      325 words
    • 306 17 AFP [COLOMBO] A court ruling against a labour dispute at Sri Lanka's main port has failed to end the protest that has racked up huge losses for shippers, officials said yesterday. At least 30 ships have been anchored outside the port unable
      AFP  -  306 words
    • 259 17 SGX '000 MM 5$ W- Vol CH Offshore .0.35 unch 184 ChuanHup .0.32 -0.01 2523 Coko Corporation 1.40 0.06 ***** CWT Distribution 0.66 0.02 479 EzraHidgs JJ1 0.06 1176 Freight Links. .0.07 0.01 745 Grand Banks Yacht .0.93 0.02 38 Java Hokflngi 132 0.01 1122 Kl Ventura 035
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  • Page 17 Advertisements
    • 245 17 ASIA WEST AFRICA TRADE AGREEMENT LUANDA (Angola) Emergency Terminal Congestion Surcharge (ETCS) Due to deterioration of operational conditions in the port of Luanda, the members of the Asia West Africa Trade Agreement decide to increase the ETCS: The ETCS (Emergency Terminal Congestion Surcharge) will be USD 480/20' and USD 720/40'.
      245 words

  • EDITORIAL & OPINION
    • 544 18 The state of the yuan one year on EDITORIAL ON this day one year ago, China de-pegged its currency from the US dollar, resulting in a modest de facto revaluation of 2.1 per cent when it resumed trading the following day at 8.11 per US dollar. In the wake of
      544 words
    • 1325 18  -  The dramatic rise of Chinese state-owned firms in the energy sector in SEA and elsewhere in the world leads to debate as to whether they are acting as instruments of state policy By ANDREW SYMON NEWS that Chinese companies and banks plan to
      REUTERS  -  1,325 words
    • 766 18  -  THE BOTTOM LINE YOGI AGGARWAL THOUGH the Indian economy is racing ahead at a gross domestic product (GDP) growth rate of over 8 per cent, something is seriously wrong in the agricultural heartland of India. The fruits of growth are just not
      766 words
    • 1315 19  -  Sales at the latest autumn and spring contemporary art auctions in Hong Kong more than doubled to HK$276m By ALLEN T CHENG Bloomberg Michelle Yu, 36, took her windfall from investing in Chinese Internet companies such as Sina Corp, quit her
      Bloomberg; BLOOMBERG  -  1,315 words
    • 311 19  -  LETTERS TO THE EDITOR Michael Goh General manager (Singapore) Star Cruises Pte Ltd I REFER to the article "S'pore cruise centre, Genting in tie-up talks" (BT, July 20) and wish to clarify that Star Cruises' views were not sought for this story. Star Cruises regularly
      311 words
    • 257 19  -  Lu Keehong Singapore I REFER to your article "S'poreans giving less money, more time to charities"(BT, July 14). The worst fears expressed by some government ministers at the time the National Kidney Foundation scandal broke appears to be confirmed by this finding. It will take
      257 words
    • 358 19  -  Stavros Yiannouka Vice-Dean for Executive Education and Development. Lee Kuan Yew School of Public Policy I REFER to the letter "Why use taxpayer money for forum?" (BT, July 14). As an institution of higher learning, it is the mission of the Lee Kuan Yew
      358 words

  • Page 19 Advertisements
    • 104 19 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterGsph. 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
      104 words

  • FOCUS: GREEN ENERGY
    • 2444 20  -  They now recognise that to sustain their industry, they need to help mitigate harmful pollutants from their operations, writes JAD MOUAWAD JAD MOUAWAD NYT [MAASLAND, Netherlands] A FEW miles north of Rotterdam, in a region the Dutch call "glass
      NYT; REUTERS  -  2,444 words

  • 10665 21 SGX MAINBOARD tt-ok T«J Last Vol Day Last Quote amV On GrVW MM MUp t— Cod* Company 5ai* rooo; Higli Km lay Mkr Cw Mt tin« 1 S716 1st So«tware5< 25 i*sch 1 2.5 25 25 3 10.1 U 6 3t« 8Tetscor*US2c 7 H 5.8 49 27 7
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  • 6605 22 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy *yr dy H y* dy %yr Kj* lnd«j> Owng* Ch»ng« Oinoq» O><oq« Ch»ng» Change rtorO trde» Preimnary 966-2 15 03 15 25 1.7 2.0 IU«P»e»nwary 962 7 1 5 17 49 20 3.7 Lpope PreMwury
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  • Page 23 Advertisements
    • 1603 23 UK CONTINENT SERVICE 11.5.A SERVICE Destination Destination AFRICAN UON RDM/ATW/BMN/TLB/NAN SEAFRIEND CAM/NFK/SAV/NOL Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.E./S.E.A. SERVICE |W 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
      1,603 words
    • 674 23 ItNTIKASIA RORO SIRVTCE VBSa/VOY IMUffT) HBGHTW PIG KOI IP SN JCT STRAITS VENTURE 13/06 IS II 20/07 23/07 27/07 30/07 01/06 STRATIS VENTURE 14/06 IS 3.2 04/06 06/06 10/06. 13/06 15/08 [STRAITS VENTURE 15/06 IS 3.2 17/06 20/06 26/06 29/06 31/06 [AUSTRALIAN RORO SERVICE j VBSa/VOT RjggP Mjjgw 5 1
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  • Page 24 Advertisements
    • 2155 24 WAN HAI INTERNATIONAL PTi LTD a NO: **********0/R VrrA lIJAII II AI I llirr TIL *****5 M (14 LINES) FA******163 V\M > WAN HAI I INFN Sorro/Boofc-gs Direct Im (1800) *****200 Y V WWmiTI lini Mllfcll nam.(O3IU4«SMfAX:(O3I2342J2MrWm;(M)226S9OOHUL(O4|729«W V "HIS: (07) 2SIWZ3HU: (07)2511*21 SU 11(031) *****7$ Mb (031) »R7H/32tlJ0S WWW.Wanhai.COM.tg K11H:
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    • 21 24 PLACE YOUR AD HERE The Business Times Shipping Times CALL MICHAEL CHNG AT 9862 9865 OR BERNARD ONG AT 9675 0002
      21 words
    • 861 24 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS VKSa VOY SIN PJOAMgIcOLOMO H SHEVA COLOMBO IMDHA GAMDHI 010SW 111 MIUI MIUI ?7 lUI 31 iUI tAJIV GANDHI OIOSW 26 JUL OMIT 31 JUL 03 AUG 07 AUG SiSHMSSIF KOiArawim mmi isauc uaug maug muc 27aug
      861 words

  • Page 25 Advertisements
    • 742 25 SNordana (Asia) Pte Ltd SSZ' 70 Shwton Way, #21-03 Mariiw Housa Sl»yipof>o79llB NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES VESSEL VOY Sboooore D—otf Fro—rte I SEB CWsfailslwd PoskGf^ kinnd Express lE6OA X 27iul 31 Jul I 09Auo HAud Mm bkmd Express [foflZ
      742 words
    • 594 25 fy —Hfe— —ftp— BHp ~~IEST= li =M= iMT"; H^=tt==g%r= cmmi aw n/n w»7 i uiMirni wio Im/ml^owm^ -ffk Bb -ffls® —nH F 3klISII IS i/!/ Y/6> i^EisnsnSi^Tff^ limMiwn ajp|w»| =i»=| igjgjg VOY UN ro«T KIANG Mil Shpiri PAC MAKASSAR M2N I 09/07 110/07 112/07 12/07 14/07 117/07 17/07 117/07 |MS
      594 words
    • 443 25 CONVENTIONAL SERVICE COLOMBO, CHENNAI, MUMBAI 2ND AUGUST Heavy Lift upto 60 tons MV. UFE ETA STH AUGUST DUBAI-JEBEL AU-DOHA Heavy Lift upto 70 tons Ftai GLORY NAVIGATION GROOPI I( SINCE I*7o OWNS A OPERATES THE YOUNGEST FLEET WITH FOURTEEN 7,000 DWT TWEEN DECKERS i COVERING THE ENTIRE ASIA PACIFIC PORTS
      443 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6659 26 This ETA ETA AdvwtiMr Vessel Voyage Telephone ETA ETA Advertber Vessel Voyage Telephone SIN Desfn Name Name Number Number SIN Desfn Name Name Number Number 07/06 30/08 China Shpg HEIECONIA 273W *****696 To ABIDJAN (ABJ) 2003 Cote D'lvoire To GERALDTON (GER) 2682 Australia 30/07
      6,659 words

  • ARTS/WINE
    • 811 27  -  PROFILE Paritosh Sen tells PARVATHI NAYAR that he loves doing self-portraits and Indian street scenes PARVATHI NAYAR /I m m OU have Jf m caught me in m harness," laughs Indian W contemporary artist Paritosh Sen, talking on the phone from his
      811 words
    • 381 27  -  REVIEW By NOOR AISHA MOZART'S The Marriage of Figaro is a joyful hodgepodge of love, mischief and politics often considered the elements of a near perfect opera. The Singapore Lyric Opera's production on Monday night was one which connected .well with the audience,
      381 words
    • 577 27  -  EXHIBITION By KIIRA GUSTAFSON A SHOVEL stuck to a painted canvas; a heavy wedge of molten, sculpted glass; and a colour-coded assemblage of drawn and painted boxes: these are but three works in the impressive 21st Asian International Art Exhibition (AIAE) hosted by Singapore. What
      577 words
    • 916 27  -  By N K YONG TALL, elegant and handsome, Anthony Barton can easily pass for one of England's landed gentry, always the perfect gentleman, always very hospitable and very warmly welcoming. His wines are a joy to taste, and he is a mine
      CHATEAU LEOVILLE BARTON  -  916 words

  • BOOKS
    • 447 28  -  By KIIRA GUSTAFSON THE West has largely ignored Chinese architecture for almost a century. Xing Ruan's New China Architecture shows why it now demands a discourse of its own. Stunning pictures, blueprints, concept sketches and'analysis give a sense of the newest buildings (some are
      447 words
    • 428 28 A fortnightly listing of the latest books available in S'pore NON-FICTION One-Way Ticket by CindyWockner Madonna King ($34.65) The untold story of nine Australians who were arrested in Bali on charges of trafficking heroin, and the shock realised by their fellow Australians that they could face the death
      428 words
    • 729 28  -  Martin Davies tells SWATI CHAUDHARY how he combined his two major loves history and nature in his latest book SWATI CHAUDHARY FOR Martin Davies, history is full of stories for modern authors to tap. Speaking over the phone from London where the BBC
      729 words
    • 488 28  -  By PARVATHI NAYAR TAXIDERMY and the search for a stuffed bird sounds, well, stuffy rather than the stuff of gripping thrillers. However, BBC TV producer Martin Davies does magic up a rather compelling story with these unlikely ingredients in The Conjuror's Bird ($16.50). Taking on
      488 words
  • Page 28 Advertisements
    • 351 28 Diners Club Card r„app/»<-«»64i6 0980 mmmUi WorU of Exclusive Privileges Treats Diners Club v wtvuxJiners.com.sg International Alkoomi Southlands Umvooded Chardonay 2003 Its pale straw colour exudes a lively translucence that speaks of a dry hot summer with low fruit yields and excellent concentration of flavours. Imagine a crisp, citmsy bouquet
      351 words
    • 68 28 81 BIA nnjong Pagar Roaa «222 66*S Exclusively for Diners Club Cardmembers: 6 complimentary Crispy Rama Thai Prawn Rolls wfth every purchase of Fried Chilli Crab in Bangkok Style 1-for-l Bird's Nest r«M CmMml WMIMI WMM unt* J1 Altfutt MM n—m ormnt vevr D**rt Clut C*rt prior to omrtnf Not
      68 words

  • CINEMA/PROFILE
    • 608 29  -  In spite of its unlikely premise, 'How Much Do You Love Me?' does provoke some thought about the nature of romance and happiness, notes GEOFFREY EU GEOFFREY EU A MAN walks into a bar and makes a perfectly decent proposal to a
      608 words
    • 537 29  -  By GEOFFREY EU ASK the Dust is a movie in the noir tradition that depicts the shifting personal fortunes and conflicting emotions within a young writer struggling in the heat, dust and racist atmosphere of Depression-era Los Angeles. At its core is a
      REUTERS  -  537 words
    • 414 29  -  DVD By PARVATHI NAYAR PART 2 of the Johnny Depp pirate saga is such a waterlogged vehicle, you almost forget why the original was such a delight. Time then, to invest in Pirates of the Caribbean: The Curse of the Black
      414 words
    • 460 29  -  By NOOR AISHA STARTING next month, Singapore Airlines (SIA) will introduce a brand-new Indian meal concept for its first-class passengers the Shahi Thali. Specially designed by in-ternationally-acclaimed chef Sanjeev Kapoor, the Shahi Thali which means "Royal Banquet" will be a feast in the sky
      LIANHE ZAOBAO  -  460 words
  • Page 29 Advertisements
    • 38 29 Herman Miller classics firxi out why these pieoes remain true classics www. hermanmiler com/classics gr 2jg 'ti "V axduavety avatebte at hH |29 wort hBr c w 9 penang roadol-01 park maH ***** 0688 e Bving@xtra com sg
      38 words
  • Page 29 Miscellaneous
    • 221 29 CRYPTIC CROSSWORD 25 Calm for outwardly simple appointment (6) port of factory? (8) YESTERDAY'S SOLUTION 8 Which industry has a tabloid Across: 1 The partys over, 9 Coriuu7: deal? (3,5) ander, 10 Scuba, 11 Liszt, 12 Oboe, 2 Unfinished court case cover- 14 Leaves regimes at logger- 13 Thai 15
      221 words

  • executive lifestyle
    • 541 30  -  off the cuff jaime ee WHY can't Singaporeans speak good English? It's a thorny issue, involving sensitive issues like skin pigmentation and the feelings of local English teachers. But if you ask me, the way we speak is a result of plain old evolution. We just
      541 words
    • 1327 30  -  Don't expect the big boys and girls to fight with the general crowd on the dance floor. MELISSA LWEE finds out where the rich and the beautiful make merry MELISSA LWEE WHEN Kamal Shah takes his clients out to party, he makes sure he does it in style
      1,327 words
    • 517 30  -  By MELISSA LWEE WANT to get in on the VIP action? Here's where to try your hick. Attica 3A River Valley Road #01-03 Clarke Quay VIP areas: In Attica, two VIP areas are located on opposite ends of the dance floor with massive couches framed by tentacle-shaped chrome
      517 words
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