The Business Times, 22 February 2007
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2007-02-22
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The Business Times
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Title Section20 2007-02-22 1 The Business Times SINGA^aS^enlS- A SINGAPORE PRESS HOLDINGS PUBLICATION online at http://business-times.asia 1 .com.sg MICA (P) 202/12/2006 Thursday, February 22,200720 words
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362 2007-02-22 1 BUYING BACK SHIN SATELLITE Govt Pension Fund and Samart among those interested By in Bangkok OUR CORRESPONDENT A string of Thai entering the field. All were already involved in the telecom sector and had the financial capability to operate satellites, he indicated.362 words
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Article, Illustration881 2007-02-22 1 ARTHUR SIM - Some think the rising price of replacement homes could be one reason for the figures last year By ARTHUR SIM [SINGAPORE] Asking prices may be going up, but not all collective sales are going through. About 25-35 per cent of more than881 words
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Article46 2007-02-22 1 STI 3,293.61 (+56.68) ST INDEX FUTURES 3,294.00 (+56.00) SIMSCI 403.33 (+7.29) SIMSCI FUTURES 401.60 (+5.30) PRIME RATES SINGAPORE 5.33 MALAYSIA 6.74 HONG KONG 7.75 INDONESIA 16.205 TAIWAN 5.896 JAPAN 1.625 KOREA 9.33 BRITAIN 5.25 US 8.25 CANADA 6.00 SWITZERLAND 4,00 INDIA 12.25 Source: Bloomberg46 words
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Advertisement43 2007-02-22 1 S'PORE PROPERTY Wing T&i, Hong Leong team up to bid for Anderson 18 PAGE 28 LETTER TO THE EDITOR Higher fees to be charged by Nets notjustifiedPAGEl9 US INTEREST RATES For the US Federal Reserve's interest rate decision, go to http^business-times.asiaone.com 8 HI43 words
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Advertisement51 2007-02-22 1 INTEREST RATES Bank of Japan j BizlT Infor outlines Asia-P&c strategy PAGE 26 P .fc.l i Hfc''^Hrc£ r 9 111 cM rjLn Hk HBM^Kl&i.fjjfcfrl a Jin iMIH BlilvB. %$< ■•>, jUi^l v Ik'-\^B^IS IBHI-B HjISsIBUSB J SKpi^MHI IHftL.,-' 'a■ w 11 iim rvw-111l U^^H agHH; gl j J j ll51 words
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TOP STORIES
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Article, Illustration823 2007-02-22 2 VEN SREENIVASAN - Chennai and Kolkata are in its sight By VEN SREENIVASAN [SINGAPORE] Changi Airports International (CAI) is joining hands with India's Tata Group to bid for the soon-to-be-privatised Chennai and Kolkata airports in India. CAI has entered into a strategic alliance with the Tata Group to823 words
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526 2007-02-22 2 JANE MOIR - Role of InvestHK comes under special scrutiny By JANE MOIR in Hong Kong HONG KONG's ability to attract foreign investment is to be scrutinised as flows into the territory moderate and the government agency responsible for attracting investors struggles to shake526 words
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Article, Illustration872 2007-02-22 2 ANTHONY ROWLEY - Market watches for impact on use of cheap yen for 'carry trades' By ANTHONY ROWLEY in Tokyo JAPAN finally took the plunge yesterday and raised its key overnight lending rate a quarter of a percentage point to 0.5 per cent the highest levelBLOOMBERG - 872 words
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Article, Illustration504 2007-02-22 3 SIOW LI SEN - Sorry, we can't take you out to lunch By SIOW LI SEN [SINGAPORE] Staff at Bank of TokyoMitsubishi's Singapore branch got a nasty shock on the eve of Chinese New Year last week. They were told all entertainment had been suspended until further notice to help the group atone for504 words
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Article, Illustration878 2007-02-22 3 WONG WEI KONG - Global players see diversifying into this region as a key strategy: KPMG By WONG WEI KONG [SINGAPORE] Private equity which has seen a resurgence in Asia in recent years is set to play a much bigger role in the region's financialREUTERS - 878 words
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Article548 2007-02-22 2 Private equity set to play bigger role in Asia-Pac PRIVATE equity is set to play a much bigger role in the region's financial markets, says Oliver Tant, global head of private equity at KPMG. "It is absolutely clear when you talk to the global players that they see548 words
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COMPANY NEWS
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Article, Illustration315 2007-02-22 4 KALPANA RASHIWALA - By KALPANA RASHIWALA OCBC is said to have signed an option to sell its six floors at Samsung Hub at 3 Church Street at about $1,600 per square foot (psf) of strata area or about $125 million in total. The buyer is understoodFILE PHOTO - 315 words
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Article, Illustration477 2007-02-22 4 UMA SHANKARI - Plans to rebuild site into serviced apartments may still proceed By UMA SHANKARI THE Ascott Group has agreed to sell the freehold Hotel Asia on Scotts Road for $147 million, instead of developing it into a serviced apartment building as previouslyFILE PHOTO - 477 words
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654 2007-02-22 4 VEN SREENIVASAN - HOCK LOCK SIEW By VEN SREENIVASAN MAINBOARD-LISTED Boustead Singapore said last November that its wholly owned subsidiary Salcon Pte Ltd had been awarded a $25 million contract by the Public Utilities Board (PUB) to design and build Phase II of the Bedok NEWater654 words
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413 2007-02-22 4 CONRAD TAN - By CONRAD TAN INSURER Great Eastern Holdings' net profit nearly doubled in the fourth quarter, driven by large gains on its investment holdings in stocks and property. Its net profit of $175.9 million compared to $92 million in Q4 2005 is the413 words
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260 2007-02-22 4 JANICE HENG - By JANICE HENG ENERGY company Asia Power Corp saw a near doubling of net profit to $19.9 million for the year ended Dec 31, 2006 from $10.1 million the year before. This came on the back of a 23.6 per cent260 words
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396 2007-02-22 5 Reuters WHEN plantation giant Wilmar International went public in August in a $2 billion reverse takeover, one name caught bankers' attention: CIMB-GK. The securities firm, part of CIMB Group, Malaysia's second-largest bank, has carved out a niche in reverse takeovers. Led byReuters - 396 words
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Article, Illustration643 2007-02-22 5 CONRAD RAJ - It will issue 67.5 m new ordinary shares at 20 cents each to Novena By CONRAD RAJ MAINBOARD-LISTED TT International, the makers of the Akira brand of electric and electronic goods, is entering the furniture trade by buying over the furniture and furnishings business ofFILE PHOTO - 643 words
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Article, Illustration271 2007-02-22 5 HOMEGROWN lifestyle products company OSIM has launched a new massage product that it says was inspired by Japanese taiko drums. The uPapa massager (right) for the back, thighs, calves and feet features an innovative pounding action designed to relieve weary muscles, stress and strain.271 words
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Article, Illustration420 2007-02-22 5 WONG WEI KONG - DBS also boosted by talk of tie-up with Taiwan lender By WONG WEI KONG SINGAPORE bank shares hit record levels yesterday, riding on continued optimism over the sector. DBS Bank gained 50 cents or 2.17 per cent to $23.50, United OverseasSource: Bloomberg - 420 words
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Article58 2007-02-22 5 SPC in 1st Aussie oil and gas JV SINGAPORE Petroleum Co, 49 per cent owned by Keppel Corp, has entered its first oil and gas exploration joint venture in Australia. It has been awarded a permit for Block T06-3 in the Bass Basin, off the southern state of58 words
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332 2007-02-22 5 CHEN HUIFEN - By CHEN HUIFEN BOOSTED by a wider range of product offerings, Landwind Medical Holdings posted a 51.1 per cent gain in Q4 net profit to 28.8 million yuan (555.7 million) on a 7.8 per cent rise in sales332 words
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130 2007-02-22 5 Bloomberg [ATHENS] Omega Navigation Enterprises, whose tankers carry refined oil products, had a fourthquarter profit of U554.35 million. Per-share net income was 29 US cents, the Piraeus, Greece-based company said on Tuesday. Omega, which sold shares for the first time in New YorkBloomberg - 130 words
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Advertisement1918 2007-02-22 4 THE THAI PRIME FUND LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****3033G) NOTICE OF ADJOURNED EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that the Adjourned Extraordinary General Meeting (the 'Adjourned EGM') of The Thai Prime Fund Limited (the "Company") will be held on 16 March 2007 at1,918 words
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Advertisement139 2007-02-22 5 CFDs are a flexible and cost-efficient way to trade on Singapore and international shares, (65) 6390 5118 Go long or short of shares on margin, putting up a fraction of the full contract value. gffiafketS COHI SQ Guaranteed market prices, and low commissions 24-hour dealing on global markets Our products139 words
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SINGAPORE MARKETS
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Article, Illustration517 2007-02-22 6 VEN SREENIVASAN - STOCKS Both punters and value investors go for stocks highlighted recently by analysts VEN SREENIVASAN Senior Correspondent CONTRARY to expectations of a subdued session heralding the Year of the Pig, the Singapore bourse sizzled with punters and value investors alike homing-in on countersSource: Bloomberg - 517 words
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Article, Illustration925 2007-02-22 6 SECURITIES TRADING SCOREBOARD MAIN SDQ TOTAL Ub Down IMth Up Down Uixh Up Down Undi Multi Ind 10 4 3 1 0 0 11 4 3 Manufacturing 118 41 52 18 10 18 136 51 70 Commerce 38 14 24 10 5 4 48 19 28 Tpt/Stor/Comms 26 J 10925 words
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Article, Illustration895 2007-02-22 6 UMA SHANKARI - Compiled by UMA SHANKARI SembCorp Industries F«b 21 dose: 554.66 KIM ENG RESEARCH, Feb 21 SCI records solid FYO6 numbers: FYO6 net earnings jumped 240 per cent year-on-year to 551.03 billion. This included an exceptional gain of *****.2 million, from the sale of the Logistics and the Engineering Construction895 words
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Article, Illustration528 2007-02-22 6 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent THE Japanese yen suffered a painful relapse in Asian trading yesterday despite a 0.25 percentage point rate hike to 0.5 per cent announced by the Bank of Japan (BOJ), incurring heavy losses as car- ry trades resumed with aSource: Reuters - 528 words
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COMPANY NEWS
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377 2007-02-22 7 TAMARA MOHANAN KUPPUSAMY - By TAMARA MOHANAN KUPPUSAMY CHINESE ice-cream manufacturer Youcan Foods issued 9.5 million new shares at 31 cents each to Yeo Hiap Seng Ltd (YHS) yesterday, raising 14.9 million yuan ($2.9 million) for expansion. The mainboard-listed corporation said that YHS, which377 words
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427 2007-02-22 7 OH BOON PING - Acquisition to be funded by a 2-for-5 renounceable rights issue to raise $50m By OH BOON PING CRANE rental company Tat Hong Holdings yesterday said its Australian unit has bought a crane company for A 517.8 million (5521.5 million) in cash.427 words
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Article6047 2007-02-22 7 UNIT TRUSTS FUNDS AIM Antra Asset Mgt (S'pora) Star Europe Eqty!" 1 088/ Star Europe Bond 1.181/ Star Europe Bat 1247/ Star Asian Tiger Eqty 1351' Star Asia Bond 1.32/ Star Asia Baiand 1.124/ Star Global Technology Fund!" 0217/ MuHiStFd 0.97* Stat Asia BondflJSD) 0.86/ ObMultiStUSD 1-159* Asia Bond Ed6,047 words
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Advertisement12 2007-02-22 7 I Call your Financial Advisor today or visit wvAv.franklintempleton.com.sg INVESTMENTS BHflr a12 words
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SINGAPORE NEWS
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Article, Illustration716 2007-02-22 8 VINCENT WEE - By VINCENT WEE GOING away to sea is something young people often dream about. On the Cana-dian-run Class Afloat programme, students from 16 to 19 years old can do that while completing their education as well. The one-year programme is run by the Nova Scotia-basedFILE PHOTO - 716 words
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704 2007-02-22 8 MICHELLE QUAH - MOH also says directors of large IPCs here can be made more aware of their duties By MICHELLE QUAH A MINISTRY review conducted in the wake of the National Kidney Foundation scandal has given Singapore's largest Institutions of a Public Character704 words
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212 2007-02-22 8 COME May 3, participants of the JPMorgan Chase Corporate Challenge will don their running gear and race down the esplanade bridge. The 5.6 km race, which is open to teams of full-time employees from all businesses, corporations and government agencies, is part of the212 words
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Article183 2007-02-22 8 ONLINE payment gateway eNETS has partnered Chain Fusion to launch a no-fuss service that will allow small-time users to conduct e-commerce transactions over the Internet. The new Buyßuttonz service is powered and managed by Chain Fusion, an online payment services provider, which aims to be Singapore's183 words
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Article, Illustration104 2007-02-22 9 YEN MENG JIIN - BY YEN MENG JIIN SWISSOTEL The Stamford marked the fourth day of the Lunar New Year yesterday with an acrobatic lion and dragon dance at the auspicious time of 5 pm, with hotel general manager Aiden McAuley (extreme left), together with guests and members of the public,YEN MENG JIIN - 104 words
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Article121 2007-02-22 9 SINGAPORE Expo will host four big events in March International Furniture Fair Singapore (IFFS), Asia Apparel Machinery and Accessories Exhibition Incorporating Textile Machinery and Leather Machinery and Accessories Exhibition (AA-MA-TEX), Global Security Asia 2007 (GSA 07) and the precision engineering industry event MTA2OO7-Me-talAsia.121 words
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246 2007-02-22 9 OH BOON PING - Foreign trade index fell 2.6%; domestic sales rose 1.6% while foreign sales slipped 2% By OH BOON PING SINGAPORE'S domestic and foreign trade indices fell 4 per cent and 2.6 per cent respectively from a year earlier in the final quarter of 2006,246 words
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288 2007-02-22 9 Funds meant for purchase of Sinvest shares, say sources Reuters OIL services firm Aban Singapore Pte Ltd, a unit of India's Aban Offshore, has sold US$l5O million of convertible bonds to four investors in a private placement, sources said yesterday. The bonds, whichReuters - 288 words
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Article, Illustration337 2007-02-22 9 THE government yesterday appointed new ambassadors to Austria, the Czech Republic and the Slovak Republic. A press statement from the Ministry of Foreign Affairs said Soo Kok Len§Kas'T>feen named asthenSitanibassador to Austria. Tan Soo Khoon to the Czech Republic, and Jennie Chua to the337 words
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Advertisement28 2007-02-22 8 11 i ii I 11 v I mm■l■ II I H fl 1 K II I 1 m m l Ka A I II J The Business Times28 words
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ECONOMY WATCH
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773 2007-02-22 10 BUY-OUT SYNDICATION Solo route allows for more aggressive action and bigger payoff Reuters [NEW YORK] After years of teaming up with several peers to bag big acquisition targets, private equity firms are finding ways to go solo. The go-it-alone strategy allows themReuters - 773 words
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Article, Illustration628 2007-02-22 10 Bloomberg [SYDNEY] Reserve Bank of Australia governor Glenn Stevens says it is "too soon to declare victory" on inflation and the bank is more likely to raise interest rates than cut them. While the central bank is "more confident" that inflation will moderate,Bloomberg; BLOOMBERG - 628 words
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Article, Illustration575 2007-02-22 10 But compromise is needed from all sides, he says Reuters Bloomberg [JAKARTA] The head of the World Trade Organization (WTO) said yesterday he sees "good signs" for calling a meeting to conclude the Doha trade round, but added "we're notReuters; Bloomberg; AFP - 575 words
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277 2007-02-22 10 This is down from the double-digit growth of 4 years Reuters AFP [BEIJING] Economic growth in China in 2007 will drop to single digit for the first time in five years, state media reported yesterday. citing a senior government researcher.Reuters; AFP - 277 words
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371 2007-02-22 10 Reuters [KUALA LUMPUR] Malaysia's central bank looks set to leave interest rates unchanged next week, avoiding a cut for now as the trade-driven economy grows at a steady pace, a Reuters poll shows. With exports growing at a healthy pace, Bank Negara is expectedReuters - 371 words
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MALAYSIA/INDONESIA
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294 2007-02-22 11 AFP [KUALA LUMPUR] A free trade agreement between Malaysia and the United States will not push drug prices up but instead will generate jobs and woo clinical research to Malaysia, a US business lobby group said. In past trade talks,AFP - 294 words
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Article, Illustration487 2007-02-22 11 It's also hunting for acquisitions among top 10 banks in SE Asia and China Reuters [KUALA LUMPUR] Malaysia's biggest lender, Maybank, yesterday said it was hunting for acquisitions in South-east Asia and China to spur future growth as it reportedReuters; BLOOMBERG - 487 words
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142 2007-02-22 11 AFP [JAKARTA] Indonesia will pursue its plans to develop nuclear power as part of efforts to find alternative energy sources to address its growing needs, a report said yesterday. The chairman of the Nuclear Energy Regulatory Agency, Natio Lasman, told The JakartaAFP - 142 words
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291 2007-02-22 11 Reuters [JAKARTA] Indonesia's attorney general said yesterday he would demand former president Suharto repay charity funds alleged to have been used to enrich friends and family before launching a civil suit against him. Earlier this month, Attorney General Abdul Rahman Saleh said prosecutorsReuters - 291 words
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233 2007-02-22 11 Bloomberg [JAKARTA] Indonesia's asset sale agency scrapped a plan to sell Texmaco Group debt and shares for the third time in four years because bids were too low. "Bids are lower than the minimum price asked by the finance minister," PT PerusahaanBloomberg - 233 words
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423 2007-02-22 11 AFP [JAKARTA] Seven of Indonesia's main tin smelters, including leading producer PT Tambang Timah, have already registered to comply with new export regulations which come into force tomorrow, officials said. Tin prices have surged to record highs of moreAFP - 423 words
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Article2459 2007-02-22 11 vol Mb 21 KM W- r«W) Aft M Realty 1.SS 0.06 177 AbricBhd 337 0.05 866 AcplnduCtries 2.02 0.08 960 Advance Synergy .0.40 0.03 ***** Adventa Bhd .0.89 0.05 38 Ac Mutti Hldgs 0.47 0.04 1215 AffinHoWngs 2.50 0.05 7277 Ahmad Zakltaou .2.80 0.18 189 AkCorp ,0.74 0.062,459 words
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GREATER CHINA
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Article, Illustration896 2007-02-22 12 There's still risk of privately-owned plants expanding Reuters [LUANXIAN, China] The fate of a campaign by China to curb headlong investment and start cleaning up its polluted environment has turned on businessmen like Cai Nianguang. Mr Cai, the owner of a private steelReuters - 896 words
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541 2007-02-22 12 JANE MOIR - Sharp rise comes as economy enjoys brisk retail sales By JANE MOIR in Hong Kong HONG KONG bankruptcies shot up more than 30 per cent in January after a long period of decline, suggesting exuberant times are lulling people into a spending splurge.541 words
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Article, Illustration562 2007-02-22 12 Reuters [HONG KONG] Hong Kong, which surpassed the United States to be the world's sec-ond-most popular place for IPOs after London last year thanks to listings from China. aims to woo IPOs from abroad as more Chinese firms stay home to list. HongReuters; BLOOMBERG - 562 words
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432 2007-02-22 12 [HONG KONGI Higher revenue from private treaty grants and lease modifications will boost total land income this fiscal year to HK$43 billion (SsB.4 billion) 50 per cent more than last year. The Standard reported market watchers as saying. In the first432 words
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393 2007-02-22 12 [HONGKONG] Police have begun investigating alleged incidents of investors subscribing to H-share sales of mainland companies in the second half of last year using multiple identities, The Standard reported. The illegal practice was noticed in particular during the mega initial public offerings of Industrial393 words
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INDIA
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470 2007-02-22 13 SIDDHARTH SRIVASTAVA - Govt seen fighting back with more controls on FDI, foreign exchange By SIDDHARTH SRIVASTAVA in New Delhi LAST weekend's attack on the "Peace Train" Samjhauta Express as well as other incidents have prompted the Indian government to take steps to ensure the country's economy470 words
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253 2007-02-22 13 It is checking the books of Whyte Mackay prior to a possible takeover AFP [BANGALORE] Indian liquor baron Vijay MaUya's UB Group yesterday said it was scrutinising the books of scoteh-whisky maker Whyte Mackay prior to a possible takeover reportedly worth £550 million (551.64 billion).AFP - 253 words
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482 2007-02-22 13 Reuters [NEW DELHI] India is likely to slash import duties in its annual budget next week as it seeks to curb rising prices, but is unlikely to alter corporate or income tax rates significantly as it relies on strong growth toReuters - 482 words
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185 2007-02-22 13 Reuters [HONG KONG] Hutchison Telecommunications International Ltd has scheduled a March 9 shareholders meeting to vote on its deal to sell a controlling stake in Indian cellphone operator Hutchison Essar to Britain's Vodafone Group Pic for US$ll.l billion. While Hong Kong-basedReuters - 185 words
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558 2007-02-22 13 Software firms offer jet design, electronic system development Reuters [BANGALORE] Indian software firms say they are well placed to grab a bigger share of the aerospace market as airplane makers and defence companies look to control costs by outsourcing design and management systems.Reuters - 558 words
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309 2007-02-22 13 Reuters [MUMBAII India's Ranbaxy Laboratories Ltd has no plans to issue US shares to fund the possible acquisition of Merck's generic business, the drug maker said yesterday, denying newspaper reports. It also said Ranbaxy's founders had no intention of dilutingReuters - 309 words
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Article, Illustration60 2007-02-22 13 [MUMBAI] Indian artiste Anoushka Shankar. daughter of legendary sitar virtuoso Ravi Shankar, posing for photographers during a shoot for a campaign by animal rights group People for the Ethical Treatment of Animals (PETA) here on Tuesday. The new campaign by PETA is aimedREUTERS - 60 words
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Advertisement12 2007-02-22 13 I pjjj a .--M m 1E M HjfjHHV vwm JH^H i 112 words
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MIDDLE EAST
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617 2007-02-22 14 Cost escalation likely reason to cancel gas-to-liquid project NYT [HOUSTON] ExxonMobil announced on Tuesday that it would abandon one of its biggest investments ever, a project with Qatar's staterun oil and gas company to produce clean-burning diesel from natural gas. Instead, ExxonMobil saidNYT - 617 words
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305 2007-02-22 14 Bloomberg [WASHINGTON] A top US Commerce Department official led a delegation of business executives to the Kurdish north of Iraq on Tuesday to encourage companies to invest there, notwithstanding violence in the rest of the country. Undersecretary of Commerce Franklin LavinBloomberg - 305 words
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264 2007-02-22 14 Reuters [DUBAI] A consortium of investors including a Bank Muscat unit and Dubai government investment agency Istithmar will open an Islamic bank in Kenya this April, the bank's chairman said. Bank Muscat International (BMI), which plans to sell a 40 per centReuters - 264 words
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Article, Illustration293 2007-02-22 14 Reuters [TEHERAN] Iran will press ahead with its nuclear programme, the country's president Mahmoud Ahmadinejad yesterday said as the UN deadline for Tehran to freeze its uranium enrichment activities passed. "We will continue our work to reach our right (to nuclear technology)Reuters; AP - 293 words
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405 2007-02-22 14 CLARENCE MICHAEL - 19,392 residential units available to investors by 2010 By CLARENCE MICHAEL in Dubai DUBAI Investments Park (DIP), the wholly owned subsidiary of publicly held Dubai Investments (DI), has announced that seven major residential project developments worth more than US$5.4 billion by a consortium405 words
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403 2007-02-22 14 Reuters [LAGOSJ Kuwait's Mobile Telecommunications Company (MTC) plans to invest US$lO.5 billion through its Celtel subsidiary this year to expand cellphone operations in Africa, the company said on Tuesday. MTC. the fourth-largest Arab telecom company by market value, operates in 14Reuters - 403 words
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Advertisement46 2007-02-22 14 di °9l31 Radio 91.3 is managed by JS SPH Unionworks, a subsidiary of Singapore Press Holdings 0 I t$L I m Lianhe Zaobao B I Banks' share I I financing I I business I I soared 80% I ■iainstf ajl I I I I ®iSJDBO% I46 words
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ASIA-PACIFIC/WORLD
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493 2007-02-22 15 LATEST US DATA Inflation picks up, validating Fed chiefs message Bloomberg [WASHINGTON] US consumer prices rose more than forecast in January, giving credence to Federal Reserve chairman Ben Bernanke's message that inflation remains the central bank's primary concern. The consumer price index increasedBloomberg - 493 words
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597 2007-02-22 15 Its shares fell 0.03 baht, or 2.6 per cent, to 1.14 baht yesterday Bloomberg [BANGKOK] Thai television network ITV, controlled by Singapore's Temasek Holdings, said a court rejected its request for an injunction on 100 billion baht (554.3 billion) ofBloomberg - 597 words
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Article, Illustration439 2007-02-22 15 Bloomberg [BANGKOK] Somkid Jatusripitak, former deputy to Thailand's deposed premier, quit as an economic adviser a week after taking the job, dealing a blow to the new government's bid to gain credibility with investors. Mr Somkid resigned yesterday after criticism from political activistsBloomberg; AP - 439 words
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WORLD WATCH
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80 2007-02-22 15 Bloomberg [NEW YORK] The amount of money borrowed from brokerages that do business on the New York Stock Exchange to buy stock reached a record U*****.6 billion last month, topping the prior high set at the peak of the Internet bubble. The levelBloomberg - 80 words
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Article138 2007-02-22 15 AP [WASHINGTON] The Supreme Court threw out a U5579.5 million award that a jury had ordered a cigarette maker to pay to a smoker's widow, a ruling that could bode well for other businesses seeking stricter limits on big-dollar verdicts. The 5-4 decision onAP - 138 words
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70 2007-02-22 15 Reuters [NEW YORK] Alltel Corp, the top rural US wireless provider, could fetch a price tag of US$25 billion to US$3l billion from private equity firms or other US mobile service providers looking to expand in rural markets, analysts said on Tuesday. AlltelReuters - 70 words
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83 2007-02-22 15 Bloomberg [LONDON] Arcelor Mittal, the company formed last year in the steel industry's largest-ever takeover, said 2006 profit fell 3.5 per cent because of higher tax and announced plans to hand US$2.4 billion to shareholders. Net income fell to U557.97 billion, or U555.76 aBloomberg - 83 words
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67 2007-02-22 15 AP [TOKYO] The RenaultNissan auto alliance is not interested in buying DaimlerChrysler's loss-making Chrysler division, despite exploring a North American partnership last year, a Nissan official said yesterday. Nissan, 44 per cent owned by Renault of France, is always open to new partnerships, butAP - 67 words
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114 2007-02-22 15 AP [SEOUL] North Korea's legislature adopted a law to combat money laundering last year, South Korea's spy agency said yesterday, a key issue that had deadlocked talks on the North's nuclear weapons programmes. "The North has been pushing for measures that meet internationalAP - 114 words
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67 2007-02-22 15 Bloomberg [FRANKFURT] Deutsche Boerse rejected selling its German equities-trading business following a report that NYSE Group is interested in buying it. "We do not consider contributing our cash business to NYSE Euronext as an option," a Deutsche Boerse spokesman said. The exchange's stance hasn'tBloomberg - 67 words
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95 2007-02-22 15 Reuters [NEW YORK] Warner Music Group Corp yesterday said any takeover offer it might make for Britain's EMI Group would probably be all cash. The US group said its statement was to clarify that its shareholders would not be required to ijotify theirReuters - 95 words
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463 2007-02-22 15 Bloomberg [LONDON] Dutch bank ABN Amro Holding is "significantly" undervalued and should be broken up, says a UK hedge fund that led the ouster of Deutsche Boerse's top executives two years ago. TCI Fund Management wrote to the bank's chief executive officer,Bloomberg - 463 words
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398 2007-02-22 15 Sweden has lowest BP rates, high growth, happiest people Bloomberg [FRANKFURT] Blood pressure may be a better indicator of a country's economic health than gross domestic product, a new study suggests. Just look at Sweden. The Swedes are the happiest Europeans. according toBloomberg - 398 words
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Advertisement352 2007-02-22 15 Cats Notices In the Mallar of The Companies Act, Cap 50 And In the Matter of SUMMIT CHEMICALS ASIA PTE LTD (CO. REG. NO. *****5275 D) (In Member's Voluntary liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap 50., the352 words
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AVIATION/LOGISTICS
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Article, Illustration518 2007-02-22 16 It is ordering four Boeing 777s as it starts expansion of its long-haul fleet Reuters [LONDON] British Airways (BA) yesterday said it was choosing four Boeing 777 aircraft with options for four more over Airbus A33os as it starts expanding its long-haul fleet.Reuters; AP - 518 words
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Article, Illustration378 2007-02-22 16 Bloomberg [BERLIN] Airbus SAS, the world's largest commercial aircraft maker, has been offered German taxpayers' money in return for averting mass job losses, a German state leader briefed on aspects of Airbus's costcutting plan said. Lower Saxony, home to four ofBloomberg - 378 words
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LOG BOOK
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82 2007-02-22 16 Bloomberg [DALLAS] Southwest Airlines Co and six other carriers have filed a complaint with the federal government about higher fees at Los Angeles International Airport (LAX), saying they may cut passengers' airline choices and increase fares. The terminal fees, imposed on Feb 1 on carriersBloomberg - 82 words
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60 2007-02-22 16 AFP [HONG KONG] Hong Kong International Airport has set a new record, handling 872 flights in one day. the government said in a statement yesterday. The airport handled 11.6 per cent more flights on Feb 16 than the daily average of 780, theAFP - 60 words
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77 2007-02-22 16 AP [BEIJING] Fog swamped China's capital yesterday, disrupting flights and forcing the closure of several highways around, the city, officials and state media said. Some travellers were stuck at Beijing's airport for more than seven hours as no domestic or international flights were ableAP - 77 words
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76 2007-02-22 16 Bloomberg AP [NEW YORK] Jetßlue Airways Corp, which hasn't had a profit in two years, has lowered its first-quarter earnings outlook because of a winter storm that cost the company US$3O million and stranded more than 130,000 passengers. The company will have an operating lossBloomberg; AP - 76 words
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408 2007-02-22 16 Bloomberg [SYDNEY] Acquisitions and increased demand for shipping drove first-half profit at air travel and freight services company Toll Holdings up 87 per cent. Australia's biggest road and rail freighter said yesterday that net income climbed to As2ls million (*****.2 million) inBloomberg - 408 words
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Article2293 2007-02-22 16 otv fuwt ha wan m AfcaOfcaH S0455 1225 ***** 1300 aaas 1x9771 1740 *ston 2215 SO268 1740 BA7382 221S AF8087 1830 QF82 2215 BA7381 1830 LH9770 2350 QFB1 1830 |Q269_2350 I I S*****930 SEE L***** 0645 KLS38 2315 ***** 0645 L***** 2345 KL837 1605 S0324 23452,293 words
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258 2007-02-22 16 Bloomberg [NEW DELHI! Indian ministers yesterday approved a proposal to combine state-run Indian Airlines Ltd and Air India Ltd and create a bigger company to compete with local and overseas carriers expanding into Asia's fourth-biggest economy. "We want to see a big, strongBloomberg - 258 words
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Page 16 Miscellaneous
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Miscellaneous171 2007-02-22 16 CRYPTIC CROSSWORD DOWN 2 Stays to see' The Ashes" (7) 15 Disposal of last atom in life? Across: 7 Diligence, 8 Lures, 10 3 "Dad's Army" made rough (9) Air force, 11 Relate, 12 Seth, 13 broadcast (4,5) 1g Dress up in small, small num- Trade war, 15 Nymphet, 17171 words
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SHIPPING
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Article, Illustration591 2007-02-22 17 DONALD URQUHART - Move blamed on surging volumes, bad weather and short staffing By DONALD URQUHART [SINGAPORE] Surging container traffic at the Port of Rotterdam has slowed the main container terminal at Europe's largest port to a crawl, forcing it to refuse empty containersFILE PHOTO - 591 words
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Article, Illustration501 2007-02-22 17 Bloomberg [TOKYO] Shares of Hitachi Zosen Corp and Mitsui Engineering Shipbuilding Co led gains among Japan's shipbuilders yesterday after an industry group said the nation's shipyards built a record number of vessels last year, spurred by demand from China and other Asian nations.Bloomberg - 501 words
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Article296 2007-02-22 17 SGX '000 Feb 21 51 W Voi ChOffshore 0 45 0 01 2804 Chuan Hup Hldgs 033 0 01 571 CoscoCorp 2.86 0 03 6657 Cwi Limited 0.84 0.02 583 tra Hldgs -5.35 015 1114 freight Links 0.09 unch 1825 Grand Banks ...unch unch 0 Jaya Hold Ltd296 words
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790 2007-02-22 17 DAVID HUGHES - STRAIT TALK By DAVID HUGHES OVER seven years after the sinking of the tanker Erika in the Bay of Biscay, the trial of several parties allegedly involved in the vessel's loss has got underway in France. Appearing before the court will be vessel's790 words
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495 2007-02-22 17 Bloomberg [WELLINGTON] Port of Tauranga Ltd, which is in talks with Ports of Auckland Ltd to create New Zealand's biggest port company, said first-half profit rose 56 per cent on the sale of surplus land and higher cargo volumes. Net income roseBloomberg - 495 words
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356 2007-02-22 17 Bloomberg [CAIRO] The Suez Canal, the world's busiest waterway, will offer transit-fee discounts to divert Asia-to-US Pacific Ocean trade to the Atlantic via the passage, to boost trade before its rival in Panama completes its expansion. Officials plan to offer the concessionsBloomberg - 356 words
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EDITORIAL & OPINION
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Article495 2007-02-22 18 EDITORIAL TRUST. It's a word that Second Minister for Finance Tharman Shanmugaratnam used more than half a dozen times when he presented his Budget statement to Parliament last Thursday with good reason. While it is integral to the government's proposals to develop Singapore as a centre for495 words
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Article, Illustration1153 2007-02-22 18 LEON HADAR - Its failure to revive the peace process reflects the erosion of US influence in the region LEON HADAR Washington Correspondent US sources close to Secretary of State Condoleeza Rice have told reporters in Washington that she intends to accelerate the effortsREUTERS - 1,153 words
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Article, Illustration772 2007-02-22 18 ROBERT SAMUELSON - THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group GLOBAL finance is mysterious, exciting and sometimes reckless. A spectre now haunts it the spectre of excess "liquidity". Will this prove a passing anxiety or, as in 1997 and 1998 with theThe Washington Post Writers Group - 772 words
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Article, Illustration900 2007-02-22 19 ANTHONY ROWLEY - Why it brings to mind the technology bubble, and why it matters to Asia ANTHONY ROWLEY Tokyo Correspondent THERE is nothing new under the sun, it is said, and it looks as though this particular bit of Biblical wisdom (from Ecclesiastes) is about toBLOOMBERG - 900 words
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Article875 2007-02-22 19 DANIEL ALTMAN - By DANIEL ALTMAN International Herald Tribune In countries around the world, globalisation has been blamed for increasing inequality, extinguishing local culture, enabling transnational crime and a host of other evils with varying degrees of justification. But could globalisation be a cause for another ill wind, thatInternational Herald Tribune - 875 words
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511 2007-02-22 19 Tan Kok Tim - LETTERS TO THE EDITOR Tan Kok Tim Singapore THE Singapore Budget presented by the government on Feb 15 is truly a "Wow Budget 2007" as it sets a new direction for the future. It shows that the government has listened and511 words
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540 2007-02-22 19 Leong Sze Hian - Leong Sze Hian Singapore I REFER to the article "Love shopping but hate queueing to pay? Nets it" (BT, Feb 15) and Nets' response, "Nets still most competitive card" (BT, Feb 13), to the article "SCCCI to hold talks over Nets540 words
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FOCUS: ONLINE CONSUMER TRACKING
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Article, Illustration2088 2007-02-22 20 KEITH SCHNEIDER - Looking at the latest trend in brand monitoring, KEITH SCHNEIDER says positive word of mouth magnified by the Internet can be a boon for companies KEITH SCHNEIDER NYT [CINCINNATI] FOR many, many decades, successful branding, one of the corporate world's holy grails, involved a clearNYT; REUTERS; AFP - 2,088 words
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Article10477 2007-02-22 21 SGX MAINBOARD Transaction date: Feb 21 52 WV Tel Last Vol Day Last Quote Mv GrYld Net MCap Wgh low Cod* Company Solo fOOO) High low luyor Sofcr Cw HI W 3.5 I 5716 1st Software 2 nap 11 11 5 6 3148 8T«4ecom 10l5 31 1270 10.510,477 words
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Page 21 Advertisements
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Advertisement63 2007-02-22 21 jp DEFY TIME CONSTRAINTS Audemars Piguet <t THE HOURGLASS _.^l<^^^^^^^l^^Jyi^^^y^Pl^|i| |tljiA!M»P'» l "W- I t Tang# Plaza 6235 7198 Rafftaa Hotel Tel: 6334 3241 %X l. AUDEMARS PIQUET (SINGAPORE) PRIVATE LIMITED 1 ye)- 6238 6678 Fax- 6238 6676 PINK GOLD WATCH WITH CENTRE SECONDS AND DATE DISPLAY, EXCLUSIVE SELF-WINDING AUDEMARS63 words
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Article6911 2007-02-22 22 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local carr in SJ U> USS N dy yr dy yr dy *yr HbiO twdw Owng» Ctung* Chang* Ch«nq« change WortdlndBiPrelimww >1443 0.0 4.0 0.1 3.9 QJ 18 IMKPreimm H61-2 03 4J OjO 44 -03 4.4 Eiroe Preliminary ***** -04 43 -0.16,911 words
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Page 23 Advertisements
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Advertisement1484 2007-02-22 23 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination MARITIME PEACE RDM/ATW/BMN/TLB/NAN STX PO TBN CAM/NFK/NOL/SAV Loads Singapore, E./W. Malaysia, Indonesia E/w Ma aysia> Indonesia MIDDLE-EAST SERVICE F.EJS.E.A. SERVICE Destination j PAN VOYAGER JDH/DMT/BJA Destination J SAFE DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN DD MASTER DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysia, Indonesia loads E.1,484 words
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Advertisement440 2007-02-22 23 vOOv WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobol.com VESSEL VOY RAMP HBGHT SM IK MAO SAV Ml ORE TAMPA A 1707 4201mh UM 21/02 23/03 01/04 05/04 10/04 0«/04 TARAGO AE7OS 3201 mm 6.4 M 09/03 31/03 09/04 13/04 17/03 IS/04 AT7II 320 To»» 4.4 M 07/04 011/0S 10/0S 14/ OS 10/05440 words
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Page 24 Advertisements
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Advertisement1524 2007-02-22 24 WAN HAI INTERNATIONAL PTE LTD ano **********0/K iiiau T5L*****5M (14IMS) FA*6224H63 V\\M\ WAN HAI I IMFV Customer Ssrrira/Bookitgj Dirsd Lke (1800) *****200 Y ll V IIHII llni lllllhv PC It (03) 334MHS FAI (03) *****2 M HM IL (04) 22*5400 HUL (04)22N4t9 y ah tiMMMMM wwJimis m wd mm*/ wiw1,524 words
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Advertisement1240 2007-02-22 24 IVfSSiI VOY PKI I SIN I KARACHI PX» BAB DMM UK KHOR IRAN BAABAEI PCLBIB9 23/02 24/02 05/03 OS/03 09/03 19/03 17/03 19/03 IRAN SATTARI PC Li 190 08/03 09/03 11/03 21/03 22/03 23/03 30/03 01/04 IRAN TABATABAII PCLSI9I 13/03 14/03 23/03 26/03 27/03 02/04 04/04 06/04 fwisa VOY SM1,240 words
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Advertisement665 2007-02-22 24 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS wssa wt sin I muwG coiomio h shcv* colomio atm. w. aa_ 21 fa Ha nfa v,m Hi Ma KB Ml filM KM LUMB HOWUHW OOtOW OtMM 07MAI 10 MM I4MAI II MM ALSO ACQPTHG K1665 words
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The business Times Shipping Times
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6034 2007-02-22 25 i v < ,-x A s o -h. V y»< y ETA ETA Advartsar Vessel Voyage Telephone SIN Dcsfn Name Nanc Number Number lo ADELAIDE (ADL) 2007 Australia 0*103 ***** China Shpg KAMAKURA 036S £*****98 04/03 23X13 PTDjakarta KAMAKURA 036S *****202 11/03 30/03 China6,034 words
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BizIT
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Article, Illustration685 2007-02-22 26 ROLAND LIM - ERP software vendor hopes to add 200 customers in Asia-Pac this year, reports ROLAND LIM ROLAND LIM HAVING already acquired some 18 companies since 2002, enterprise software vendor Infor is building on its new acquisitions and expects to grow organically to add 200685 words
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Article, Illustration574 2007-02-22 26 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY SPRING Singapore has signed a deal with Singapore Computer Systems (SCS) to outsource its information technology (IT) infrastructure and application systems to the business continuity and disaster recovery (BC/DR) solutions provider. The three-year contract, valued at $10 million, will574 words
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196 2007-02-22 26 Reuters [NEW YORK] A deal between Google Inc and CBS Corp that would let You Tube users watch clips from CBS shows such as The Late Show with David Letterman, has unravelled, the Wall Street Journal reported yesterday. The two companies had beenReuters - 196 words
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Article, Illustration446 2007-02-22 26 WINSTON CHAI - By WINSTON CHAI HOTSHOT Silicon Valley start-up Sling Media made waves in the consumer technology industry with its "Slingbox" device which allows people to watch regular TV programming on their laptops anywhere in the world. And now, a small home-grown company is hoping446 words
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310 2007-02-22 26 Reuters [TOKYO] The utilisation rate of the world's microchip plants stayed below 90 per cent for the second straight quarter in October-December, an industry group said yesterday. The utilisation rate was 86.4 per cent in the quarter, down from 88.5Reuters - 310 words
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607 2007-02-22 26 LAT-WP [SAN DIEGO] Retired IBM Corp computer scientist Frances Allen, whose work helped crack Cold War-era code and predict weather, will be named the first woman to receive her profession's highest honour. The Association for Computing Machinery has granted the A M Turing forLAT-WP - 607 words
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PROPERTY
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378 2007-02-22 27 Still, Lunar New Year period sees better sales this year than last year EVEN with gifts and lai sees (hongbao). Hong Kong developers have failed to lure home seekers to their new projects during the Lunar New Year, selling only 16 apartments.378 words
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289 2007-02-22 27 Bloomberg [SEATTLE] Citigroup Inc's property unit said it has raised US$l.29 billion for its first fund to invest in real estate and related assets in the Asia-Pacific region, with a focus on China and India. Citigroup, the largest US bank, and itsBloomberg - 289 words
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507 2007-02-22 27 Regal's share price went up by 4.2% on the news Reuters [HONG KONG] Hong Kong's Regal Hotels International Holdings has revived a spin-off of five hotels through a property trust, two months after scrapping the US$76O million deal due to a floppedReuters - 507 words
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Article1779 2007-02-22 27 3 ROPFRTY TRANSACTIONS I ODGFD BETWEEN FFR 13 AND FFR 71 7007 PSOJECTNAME/ PROP CONTRACT TENURE BOURN AREA PRICE PSf STREET SAME TYPE DATE (SQ FT) (S$ 000) (S$) District 1 NONLANDED Pearls Cte Apt 26/01/2007 99 753 330 438 The Sail ©Marina Bay Apt 30/01/2007 99 1184 22501,779 words
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Article, Illustration596 2007-02-22 28 KALPANA RASHIWALA - Any en bloc deal likely to be concluded only after revised DC rates take effect By KALPANA RASHIWALA HONG Leong Group, which includes hsted City Developments, and Wing Tai are said to have teamed up to bid for the Anderson 18 collective596 words
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Article390 2007-02-22 28 UMA SHANKARI - Elmira Heights also up for collective sale for $326m By UMA SHANKARI HEIWA Court in the East Coast has been sold for $11 million in a collective sale, marketing agent Knight Frank said yesterday. The amount paid by buyer Roxy Homes Pte Ltd works390 words
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Article, Illustration243 2007-02-22 28 ARTHUR SIM - By ARTHUR SIM KEPPEL Land's upcoming residential development— Reflections at Keppel Bay—has received over 700 expressions of interest with some wanting to buy whole floors or even a whole block. The 1,129-unit development is expected to be launched in March or April. Keppel Land243 words
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Page 27 Advertisements
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Advertisement6 2007-02-22 27 Come home to your dream address6 words
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Advertisement112 2007-02-22 28 I fAI I VAI fcl Ift mTA I Vi« M bJOttiM /J \X Holland \I The Mera /\J A Buona Village \I/ ®*0* I Vista \l g h-sil Jt Swimming A 5/ /Lsr I \cpix 1 f/ A Holland Rd a X I fafci \t Shopping •iTW/ Ch B CTR112 words
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Advertisement144 2007-02-22 28 lie Leung s COLLECTIVE SALE OF ELMIRA HEIGHTS Site area: 10,084.6 sm (108,550 sf) MP 2003: Residential, PR 2.8 Height Control 117 m AMSL (approximately 30 storeys) Elevated land Short walk to Scotts Orchard Road Novena Hub Newton MRT at its doorstep Less than Ikm to ACS (Junior), ACS (Barker)144 words
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