The Business Times, 17 May 2008

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Microfilm: NL29367
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    23 1 THE BUSINESS TIMES weekend A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA(P) 122/12/2007 SINGAPORE 85 cents May 17-18,2008 online at http://www.businesstimes.com.sg
    23 words
  • Article, Illustration
    Lock icon BA chief refuses bonus despite record profits
    453 1 AP, Bloomberg He says £700,000 payout is not right after Heathrow debacle [LONDON] British Airways has registered record profits and will pay a dividend for the first time in seven years but its chief executive, Willie Walsh, has decided to forgo his own
    AP, Bloomberg  -  453 words
  • MARKETS DIGEST
    • Article
      Lock icon MARKETS
      47 1 :rn lay lange 1COMP 1,300.67 +6.52 IIKKEI225 14,219.48 -32.26 IANG SENG 25,618.86 +105.15 ;et index 870.33 +14.72 JAKARTA COM P 2,468.84 +19.03 IANILACOMP 2,879.95 +1.69 ;eoulcomp 1,888.88 +3.17 ;henzhen b 556.78 -2.69 IUMBAI IND 17,434.94 +81.40 11.45AM EDT Cham )OW 12,907.01 -85.65 IAS DAI 2,512.04 -21.69
      47 words
    • Article
      Lock icon PRIME RATES
      30 1 Bloomberg SINGAPORE 5.33 MALAYSIA 6.74 HONG KONG 5.25 INDONESIA 15.790 TAIWAN 6.316 JAPAN 1.875 KOREA 9.33 BRITAIN 5.00 US 5.00 CANADA 4.75 SWITZERLAND 3.72 INDIA 12.25 Source: E
      Bloomberg  -  30 words
    • Article
      Lock icon FOREX
      37 1 IS$ (S$ per US$) 1.371 (US$/S$ ier£) 1.949 2.672 ;URO (US$/S$/E) 1.549 2.125 'EN 104.30 76.00 3.244 2.365 m 7.801 5.688 !AHT 32.37 23.60 1UPIAH 9,290 6,774 lENMINBI 6.988 5.095 INDIAN RUPEE 42.81 31.21 1.057 0.771
      37 words
  • Article, Illustration
    Lock icon NWC injects dose of caution in pay hikes
    830 1  -  CHUANG PECK MING Productivity must rise faster than wages, it says; suggests one-off or variable payments By [SINGAPORE] Wary of a wage-inflation spiral that will blunt Singapore's competitive edge at a time of economic uncertainty, the National Wages Council (NWC) has urged
    830 words
  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      42 1 aKILL^^I T^l^^B A MOTORING WELLNESS RAFFLES CONVERSATION ,-^fi ih m. PlN #A4QEF! i V m 1 I jffgT-r igMiiy B^Rr^»'lE The top-o^the-line TCM for childhood Economist Nicholas Stern O| B laJ^^^l Ly AudiA4 myopia on climate change /B FOOD CONCEPTS PAGE 21
      42 words
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • Article
        Lock icon SingTel plans $220m network upgrade
        53 2 SINGTEL is investing $220 million in an islandwide cellular network upgrade to set the stage for delivering higher-speed mobile broadband services. The project due for completion in March 2009 will provide a "future-proof network capable of handling more bandwidth over-the-air at much higher speeds. COMPANY
        53 words
      • Article
        Lock icon Commodities to gain from rebalancing of MSCI index
        71 2 THE rebalancing of the MSCI All Country Asia ex-Japan index at the end of this month could benefit commodity stocks at the expense of real estate and transport plays, according to ÜBS. It says that Golden Agri Resources, the sole Singapore addition
        71 words
      • Article
        Lock icon China Hongxing on fast track
        62 2 EXTENSIVE advertising and promotion, network expansion and a shift in product mix have paid off for China Hongxing Sports. The strategy has put the company on the fast track, reaping it a 45 per cent surge in net profit to 114.2 million yuan (5522.4 million)
        62 words
      • Article
        Lock icon NODX surprises with 5.4% gain
        58 2 NON-electronic shipments came to the rescue, lifting non-oil domestic exports (NODX) to a surprising 5.4 per cent year-on-year gain in April, against market expectations of a 0.5 per cent dip. Domestic shipments of non-electronic products bounced back from a 4.3 per cent drop to a
        58 words
      • Article
        Lock icon Evidence of conspiracy in judge-fixing video: minister
        58 2 MALAYSIAN Law Minister Zaid Ibrahim said yesterday that a Royal Commission of Inquiry has found evidence of a conspiracy to influence the appointments of top judges. He said that the report recommended that six people, including former premier Mahathir Mohamad, be investigated for
        58 words
      • Article
        Lock icon Real estate funds set to debut in India
        76 2 INDIA'S booming fund industry is about to get even hotter with the launch soon of real estate mutual funds, which will make pricey property investments affordable to millions. Only 5 per cent of Indian wage earners buy property as an investment as
        76 words
      • Article
        Lock icon Fears of US recession overblown: analyst
        43 2 NATIONAL Australia Bank chief economist Alan Oster feels that fears of a major US recession is overblown and forecast US GDP growth of 1.2 per cent this year and 1.7 per cent next year. WORLD, PAGE 15
        43 words
    • Article, Illustration
      Lock icon Unfair exchange? Activist quits HK bourse board
      573 2  -  JANE MOIR He also cites lack of progress on listing rules twice promised by the government By in Hong Kong SHAREHOLDER activist David Webb has quit the board of Hong Kong's stock exchange, citing backdoor political interference and a lack of progress on
      573 words
    • Article, Illustration
      Lock icon Informatics ex-boss pumps money into Jade
      515 2  -  CHEW XIANG Company raises $9.63 m for coal mine project through private placement By [SINGAPORE] Former Informatics chief executive officer Ong Boon Kheng convicted and fined $445,000 last year for his part in inflating the education company's profits is pumping $1.08 million into beleaguered
      FILE PHOTO  -  515 words
    • Article, Illustration
      Lock icon Has iPhone missed the bus by waiting too long?
      605 2  -  LEE U-WEN SATURDAY SOAPBOX THIS week saw one of the worst-kept secrets in mobile phone-mad Singapore finally become a reality with news that Apple's iPhone would be coming to these shores later this year. But as I trawled through numerous technology
      605 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      222 2 DISCOVER SECRETS HOW ORDINARY PEOPLE WITH NO B^ Anybody can earn $10,000 Monthly Easily when you discover our PROVEN TRADE SECRETS! No need to quit your job. MONEY BACK GUARANTEE* to make sure you succeed. f£J "Whin 3 months, "With no prior aleameds3B,ooom f$ "learned $10,000 jjm I became a
      222 words
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      Lock icon Page 2 Advertisements Column 2
      112 2 (_i^_ r^- f v_^ v' i Correction <_y vx-\ riiin TUC AMCC P J 3 *-—4—n INourMay 15Househunt jL n(^ \tt\) lIL UntO H-> CT 1 lable'I able' We H f**^' I v I h^ i v J H**«' transposed two columns: 1 1 fIiAT PI f I built-in/land area
      112 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The Stern view on climate change
      1779 3 British economist Nicholas Stern's widely publicised report was both praised and panned. He shares his ideas with VIKRAM KHAN NA WHEN the Stern Review of the Economics of Climate Change one of the most comprehensive studies on the environment ever produced was released on
      ARTHUR LEE  -  1,779 words
    • Article
      Lock icon LSE and the India connection
      625 3 AS a devoted student of the Indian economy, it is fitting for Lord Stern to be the first occupant of the newly created IG Patel chair at the London School of Economics (LSE), as well as the first head of LSE's "India Observatory", which is
      625 words
    • Article
      Lock icon Raffles
      99 3 Woffle Rz T? penrfc The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Ranked second among the world's top hotel brands in the 2006 Conde Nast Traveler Business Travel Awards, Raffles Hotels Resorts is a collection of luxury hotels that distinguishes itself through
      99 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon SingTel plans $220m network upgrade
      381 4  -  WINSTON CHAI Existing HSPA infrastructure will be upgraded to deliver download speeds of 14.4 Mbps By SINGAPORE Telecommunications (Sing Tel) is investing $220 million in an islandwide cellular network upgrade to set the stage for delivering higher-speed mobile broadband services. According to a company statement
      FILE PHOTO  -  381 words
    • Article
      Lock icon AusGroup hit by Aslo.3m provision
      295 4  -  ARTHUR SIM By ENERGY and resources specialist AusGroup Ltd has announced a net loss of A 53.4 million (554.4 million) for the quarter ended March 31, compared with a net profit of As4.B million a year ago. Revenue for the quarter was A 577.6 million,
      295 words
    • Article
      Lock icon Low Shiong Jin quits as Enzer exec director
      265 4 LOW Shiong Jin, the director at the centre of the controversy over missing funds at Oculus, has quit another listed company. Enzer Corporation announced yesterday evening that Mr Low has tendered his resignation as an executive director of the company with effect
      265 words
    • Article, Illustration
      Lock icon STI regains previous week's lost ground
      552 4  -  R SIVANITHY STOCKS THERE were no violent moves in stocks this week, only a gradual creeping upwards of blue chips, suggesting confidence is slowly returning. After dropping 74 points over the previous week, the Straits Times Index (STI) this week rose 79 to 3,241.49,
      552 words
    • Article
      Lock icon Thai Beverage plans to take over Oishi Group
      247 5 Reuters [BANGKOK] Thai Beverage PCL, the country's largest brewer and distiller, plans to take over Thai green tea and sushi maker Oishi Group PCL for 6.94 billion baht (*****.3 million). Thai Beverage the maker of market leaders Beer Chang and Mekhong whisky
      Reuters  -  247 words
    • COMPANY BRIEFS
      • Article
        Lock icon Federal buys USs7m AHT vessel
        122 5 FEDERAL International (2000) Ltd, an integrated engineering and procurement specialist, has inked an agreement to commission the construction of a chartering vessel for about US$7 million. The vessel, to be purchased by Federal's 60 per cent-owned subsidiary, Federal Offshore Service Pte Ltd, is a twin-screw
        122 words
      • Article
        Lock icon Citibank Spore wins best retail bank award
        91 5 CITIBANK Singapore has won the "Best Retail Bank in Singapore" award from The Asian Banker for the first time, beating the three local banks. In awarding the accolade to Citibank for its performance in 2007, the Asian Banker pointed to its sustained distribution
        91 words
      • Article
        Lock icon Transmarco posts $0.5m full-year loss
        133 5 TRANSMARCO Ltd has reported a net loss of $509,000 for the financial year ended 31 March 2008, down from a net profit of $292,000 in the previous year. The group's turnover for the full year was $38.84 million, 1.74 per cent higher than the previous
        133 words
    • Article
      Lock icon 01am to raise rice-milling capacity to tap India demand
      181 5 Bloomberg [SINGAPORE] 01am International Ltd, a Singapore-list-ed supplier of commodities, plans to increase its rice-milling capacity at least five times to tap rising domestic demand in India. 01am will raise capacity to 400,000 tonnes in three years, from a current capacity
      Bloomberg  -  181 words
    • Article, Illustration
      Lock icon Commodities to gain from rebalancing of MSCI index
      379 5  -  CHEW XIANG Golden Agri Resources could see net inflow of USslo2m: ÜBS By THE rebalancing of the MSCI All Country Asia ex-Japan index at the end of this month could benefit commodity stocks at the expense of real estate and transport plays,
      379 words
  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      36 4 Jjfl w ,i|j Biff' 'BB L'i'^-ii:--i;! J!;^'' R?iL|l!lj':r^M r\\r~>(-(~> *\E COlr^C? =or ta"<s reg'strat'on' please email: rsvp@eightcomms.com. *1 I I 111 Iw For more information, please visit www.pieceofmine.com.sg. 16 Mohamed Sultan Road #01-01 Singapore *****5.Te1: *****886.
      36 words
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      Lock icon Page 4 Advertisements Column 2
      149 4 !pMji Sui Jianguo PISH Bronze, H: 38 cm, W: 29 cm, L: 20 cm ZHOU CHUNYA Jl#S SGD 100,000. 150,000. Oil on canvas, 116 x9l cm. SGD 280,000. 350,000. s* I Nyoman Masriadi Acrylic on canvas ■f^ 125 x 173 cm SGD 100,000. 120,000. v V-.-- AW y Auction 16
      149 words
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      359 5 In The Matter of In the Matter of The Companies Act The Companies Act (Chapter 50) Cap. 50 And and InThftMnttfirnf In the Matter of SIGMA DELPHI LTD NOBLE CITY DEVELOPMENT (Co. Reg No. *****8691 M) (hghwio^^UMSE] [Incorporated In The Republic Of [In Creditors' Voluntary Liquidation) NOTICE QF FINAL MEETINg
      359 words
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      Lock icon Page 5 Advertisements Column 2
      309 5 the METROPOLITAN TOP MUSEUM OF ART STORE i^JSIh Jewelry With A Heritage JIbL j>*l§&», colorful ladybugs are adapted Greek Granulated w £j 'ik s&z§S;Hk\ Jfi'^"" i i o/ix mi 1 53 our collection is adapted from an W Sj silver with 24K gold plate. S SSs i i i i
      309 words
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  • PERSONAL INVESTMENT
    • Article
      Lock icon BROKERS' TAKE
      998 6  -  LYNETTE KHOO Banyan Tree Holdings May 16 close: 551.48 CIMB-GK Research, May 16 ABOVE expectations: Ql 2008 core earnings of $15.4 million (+37.6 per cent y-o-y) beat consensus and our estimates, forming 36 per cent of our full-year estimate (we were going for 33-34 per cent). Growth was
      998 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      937 6 For week beginning May 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) HiapSengEngg 16-May-08Cheng Buck Poh PL 6000 na ***** 11.83 ***** 9.85 China Enersave 15-May-08Tan Choon Wee Buy
      937 words
    • Article, Illustration
      Lock icon Many happy returns for some shareholders
      1359 6  -  TEH HOOI LING SHOW ME THE MONEY Pure profits Companies and their dividend payouts in the last five years WHAT do investor s who bought into Singapore Shipping, Low Keng Huat, Singapore Petroleum Company or In-ter-Roller Engineering five years ago and still hold these
      1,359 words
    • Article, Illustration
      Lock icon China Hongxing on fast track
      411 7  -  JOANNE CHIEW Advertising, network expansion and shift in product mix boost Q1 performance By EXTENSIVE advertising and promotion, network expansion and a shift in product mix have paid off for China Hongxing Sports, the owner of the "Erke" brand and one of China's leading sports
      411 words
    • Article, Illustration
      Lock icon Seeing green with Capitafrog
      180 7  -  ARTHUR LEE By CAPITALAND unveiled a green mascot called Capitafrog as it launched its Building a Greener Future programme at Raffles City on Thursday. The property group is looking at making the mascot into a soft toy and will unveil further green initiatives in the coming
      ARTHUR LEE  -  180 words
    • Article
      Lock icon Raffles Med, int'l insurer in health plan tie-up
      308 7  -  GENEVIEVE CUA Schemes let insured access clinics, hospitals globally By RAFFLES Medical Group has tied up with Bupa International, one of the world's largest international health insurers, to offer co-brand-ed health plans for mobile executives. The partnership is with Raffles subsidiary Interna-
      308 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      8165 7 UNIT TRUSTS FUNDS ABN AMRO Asset Mgt (Spore) Star Europe Eqty!** 0.949/ Star Europe Bond 1.188/ Star Europe Bal 1.175/ Star Asian Tiger Eqty 1.402/ Star Asia Bond 1.184/ Star Asia Balanced 0.982/ Star Global Technology Fund!** 0.205/ MultiStFd 0.815/ Star Asia Bond(USD) 0.858/ Gib Multi St USD 1.072/ Asia
      8,165 words
  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      27 6 V> pJ FIND THE ONES THAT FIT! H-fIX P^ Recruit the right people through CATS Recruit. J——v e°^\ a" I^OO 289 8822 or email recruit@isph.com.sg to advertise.
      27 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Nasdaq-listed firm invests US$50m in new facility
      539 8  -  AMIT ROY CHOUDHURY Semicon equipment maker opening plant in Serangoon industrial estate By IN another example of Singapore continuing to remain a high technology manufacturing base, Nas-daq-listed KLA-Tencor, a world leader in process control solutions for semicon manufacturing, yesterday announced a more than
      539 words
    • Article, Illustration
      Lock icon Developers face higher funding costs
      582 8  -  CONRAD TAN By PROPERTY developers in Asia face a "double whammy" of rising credit spreads on loans and banks lending less against the value of new projects, a senior Asian property fund manager said yesterday. And the wider interest margins that banks have been demanding
      582 words
    • Article, Illustration
      Lock icon S'pore firm makes film for The History Channel
      508 8  -  CHRISTOPHER LIM By THE History Channel has partnered a Singapore production company for the first time. The Moving Visuals Co created and produced the one-hour documentary Ancient Chinese Sports, which will air tomorrow at 7pm. As a lead-up to the Beijing Olympics,
      THE MOVING VISUALS CO  -  508 words
    • Article, Illustration
      Lock icon HSBC woos young executives to join 'Revolution'
      431 8  -  CHOW PENN NEE By YOUNG working adults are the hottest demographic segment to be courted these days, going by how banks have been actively launching products to woo them. Citibank's clear card was one of the first to target this segment. HSBC yesterday
      431 words
    • Article
      Lock icon Rewarding good workmanship
      244 8 A TOTAL of eight awards and four certificates of merit have been given out under this year's Building and Construction Authority (BCA) Construction Excellence Awards, out of a total of 16 nominations. The competition, introduced in 1986, principally recognises builders' workmanship, focusing on downstream post-design implementation specifically,
      244 words
    • Article, Illustration
      Lock icon NODX surprises with 5.4% gain
      514 9  -  CHUANG PECK MING Jump due largely to 9.8% rise in domestic exports of non-electronic goods By NON-electronic shipments came to the rescue, lifting non-oil domestic exports (NODX) to a surprising 5.4 per cent year-on-year gain in April, against market expectations of a 0.5 per cent
      AFP; : IE Singapore  -  514 words
    • Article
      Lock icon Private equity firm activity on the rise
      556 9  -  SIOW LI SEN ByS PRIVATE equity outfits have stepped up their activities in Singapore, targeting buyouts and private companies around the region. "The last 2-3 years, the price expectations of entrepreneurs have risen, in line with the stock markets," said Mark Thornton, co-head
      556 words
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      544 9 K. NDz WfZ/\ CHINA KANGDA FOOD COMPANY LIMITED (Incorporated in Bermuda) (Company Registration No. *****) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a Special General Meeting of China Kangda Food Company Limited (the "Company") will be held at M Hotel, Anson Room 1, Level 2, 81 Anson
      544 words
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      Lock icon Page 9 Advertisements Column 2
      1012 9 COMMERZBANK m 1.1-31.12.2007 1.1-31.12.2006 Assets 31.12.2007 31.12.2006 in Euro m in Euro m in Euro m in Euro m Interest received" 22JTT6 78",862~ Cashreserve 5,157 5,967 Interest paid 18,096 14,925 Claims on banks 74,058 75,182 Net interest income 4,020 3,937 Claims on customers 289,409 294,471 Provision for possible loan losses
      1,012 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Evidence of conspiracy in judge-fixing video: minister
      693 10  -  S JAYASANKARAN Cabinet orders investigation against six, including Dr M, for role in the affair By in Kuala Lumpur MALAYSIA'S Law Minister Zaid Ibrahim said yesterday that a Royal Commission of Inquiry investigating the contents of a video clip of a prominent lawyer
      693 words
    • Article
      Lock icon Johor Corp plans to sell Islamic bonds
      335 10 Bloomberg It will raise RM3B5m to expand port, repay debt [JOHOR BARU] Malaysia's Johor Corp, a state economic development and investment group, plans to sell Islamic bonds to fund the expansion of oil and gas storage facilities at its port bordering Singapore. Johor's
      – Bloomberg  -  335 words
    • Article
      Lock icon BURSA MALAYSIA
      2240 10 lay 16 RM C000) ASM Realty 0.69 \bric Bhd 0.14 advance Synergy 0.12 Adventa Bhd 1.31 AeMuIti Hldgs 0.22 Win Holdings 2.09 Ahmad Zaki Resou 1.00 AicCorp 0.51 \irasia Bhd 1.17 Akn Technology 0.50 alliance Financi 3.18 aluminium Co 1.09 Amalgamated Ind 0.65 tamb Hldgs Bhd 3.98 Amtel
      2,240 words
    • Article, Illustration
      Lock icon YNH may sell half of Foster tower for RMl.2b
      398 10 Bloomberg [KUALA LUMPUR] YNH Property is seeking as much as RMI.2 billion (*****.5 million) by selling in advance half of a tower being designed by Norman Foster for Kuala Lumpur in the Malaysian capital's biggest commercial property transaction. YNH is in
      Bloomberg; BLOOMBERG  -  398 words
    • Article
      Lock icon Military to give up private businesses
      543 10 Reuters [JAKARTA] Indonesia's powerful military, pushed out of politics a decade ago when Indonesians embraced democracy, must soon relinquish another prize: a motley array of businesses including golf courses, offices, and taxi firms. The overhaul of the military, known by its Indonesian acronym TNI,
      Reuters  -  543 words
    • BRIEFLY ASIA
      • Article
        Lock icon Telekom spends RMB.9b on network
        61 10 Bloomberg [KUALA LUMPUR] Telekom Malaysia, Malaysia's largest fixed-line phone operator, will spend RMB.9 billion (Ss3.B billion) on a governmentbacked network, a larger proportion of the Internet project than the company estimated, it said on Thursday. The government will pay RM2.4 billion over three years in
        Bloomberg  -  61 words
      • Article
        Lock icon Indonesia's jobless rate falls to 8.5%
        85 10 Reuters [JAKARTA] Indonesia's unemployment rate, among the highest in Asia, fell to 8.5 per cent in February from 9.1 per cent in August 2007 as many in the labour force were absorbed by informal jobs, the statis- tics bureau said on Thursday. Analysts said
        ■ Reuters  -  85 words
      • Article
        Lock icon Green Packet eyes 2 deals by year end
        74 10 [KUALA LUMPUR] Green Packet, which will be launching its WiMAX business in Malaysia next month, aims to strike at least two deals to collaborate or invest in the region by the end of the year, reported The Star. It is one of
        74 words
      • Article
        Lock icon India's forex reserves now at USs3l2.7b
        55 10 Bloomberg [NEW DELHI] India's foreign exchange reserves increased US$2OO million to U*****.7 billion in the week ended May 9, the Reserve Bank of India said. Foreign currency assets climbed US$2OO miUion to U*****.8 billion, it said. India's foreign exchange reserves have risen by US$lOB.7
        Bloomberg  -  55 words
      • Article
        Lock icon Boustead takes over property subsidiary
        45 10 Keuters [KUALA LUMPUR] Malaysian industrial and financial group Boustead Holdings said on Thursday that it will take over its property subsidiary, Boustead Properties, for RM5.50 (552.33) per share. Boustead Properties jumped 71 sen, or 15 per cent, to RM5.35 yesterday.
        Keuters  -  45 words
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  • GREATER CHINA
    • Article
      Lock icon US says yuan 'substantially undervalued'
      569 11 -AFP Treasury welcomes yuan's appreciation but says gains are insufficient [WASHINGTON] The United States on Thursday accused China of keeping its yuan currency "substantially undervalued", but stopped short of branding Beijing a currency manipulator. "Neither China or any other major trading partner of the United
      -AFP  -  569 words
    • Article
      Lock icon Taiwanese see growing business ties with China
      227 11 Reuters [TAIPEI] Anthony Liao is hiring speakers of minor Chinese dialects at his Taipei travel agency, studying new destinations and ensuring a supply of buses as he gears for a surge of tourists from China, a relative rarity until now. His Phoenix Tours
      Reuters  -  227 words
    • Article, Illustration
      Lock icon HK Q1 growth accelerates on exports
      370 11 Bloomberg [HONG KONG] Hong Kong's economic growth unexpectedly accelerated in the first quarter as exports to China and Europe climbed. Gross domestic product rose 7.1 per cent from a year earlier, the government said yesterday in Hong Kong, after gaining a revised 6.9 per
      – Bloomberg; REUTERS  -  370 words
    • Article
      Lock icon CNN says sorry formally to China
      310 11 Bloomberg [BEIJING] CNN, the American television news network, has formally apologised to the Chinese people for remarks by its commentator Jack Cafferty in April, Foreign Ministry spokesman Qin Gang said on Thursday. CNN's president sent a letter of apology for Mr Cafferty's remarks to
      – Bloomberg  -  310 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Real estate funds set to debut in India
      787 12 -Reuters They will boost the fund industry and make property investments affordable [MUMBAI] India's booming fund industry is about to get even hotter with the launch soon of real estate mutual funds, which will make pricey property investments affordable to millions. Only
      -Reuters; AFP  -  787 words
    • Article
      Lock icon BHP shares hit record on China stake talk
      472 12 Reuters, Bloomberg [SYDNEY/MELBOURNE] Shares in BHP Billiton, the world's largest miner, rose to a record level yesterday amid fresh speculation that Chinese interests were looking to build a stake in the group. They climbed 72 cents, or 1.5 per cent, to A
      Reuters, Bloomberg  -  472 words
    • Article
      Lock icon China carbon offsets seen falling due to quake
      305 12 Reuters [VENICE] China's deadliest earthquake in decades could cut by up to 5 per cent the country's supply of carbon offsets under the Kyoto Protocol over the next 12 months, a market that China dominates, Lehman analysts estimated on Thursday. Rich countries
      Reuters  -  305 words
    • Article
      Lock icon Sun Hung Kai's CEO takes legal action against his brothers
      446 12 AFP [HONG KONG] The chairman of one of the world's largest property firms has begun legal action against his two brothers, Hong Kong court documents show, the latest twist in a long-running feud at the family-run firm. Walter Kwok, chairman
      AFP  -  446 words
    • Article
      Lock icon India's inflation rate rises to highest in 3.5 years
      302 12 Bloomberg [NEW DEHLI] India's inflation rate unexpectedly rose to the highest in three and a half years, adding pressure on the central bank to raise borrowing costs further to tame prices. Wholesale prices rose 7.83 per cent in the week ended
      Bloomberg  -  302 words
    • Article, Illustration
      Lock icon Frustration grows among China quake survivors
      421 12 Reuters [BEICHUAN, China] China struggled to bury the dead and help tens of thousands of injured, homeless and hungry yesterday, four days after a massive earthquake which is thought to have killed more than 50,000. China's government said more than 4.7 million houses were
      ■ Reuters; REUTERS  -  421 words
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  • WORLD
    • Article, Illustration
      Lock icon Record art prices hide full picture
      1040 13 -AP Christie's auction misses low USs2B6m pre-sale estimate; Sotheby's posts Q1 loss [NEW YORK] It took only about 120 seconds last week for a Monet to exchange hands for a small fortune. Christie's auctioneer Christopher Burge started the bidding at US$26 million for a
      -AP; AFP  -  1,040 words
    • Article
      Lock icon SGX MAINBOARD
      8825 13 Transaction date: May 16 52-wks Tel |h Low Code Last Sale Vol ('000) Hii Day Last Quote Div Gr Yld Net |h Low Buyer Seller C'vr P/E M Cap Hii Com[ B716 1st Software 22 6.5 3148 STelecom I i., 110 100 6389 ABFSGBondETF 30 12 1938 AEICorp
      8,825 words
    • Article, Illustration
      Lock icon How did Noah's Ark float?
      595 14 Reuters Creationists say it is possible even as biologists are finding new life everywhere [OSLO] How did Noah's Ark manage to stay afloat? Estimates of the number of species on earth are surging into apparently hull-busting millions as biologists find new life almost everywhere they
      ■ Reuters; REUTERS  -  595 words
    • SGX
      • Article
        Lock icon MOST ACTIVE STOCKS
        56 14 VOLUME Golden Agri 85,145,000 CoscoCorpM EReCWOBO9IB 33,265,000 Firstlink 32,588,000 Thai Beverage 31,074,000 Jade Tech 30,214,000 ChinaEnergv 26,748,000 CoscoCorpDßeCWoBo929 26,515,000 Yangzijiang 25,728,000 Celestial 24,711,000 Mercator 23,143,000 Clob VALUE Keppel Corp 206,778,180 DBS Grp 144,577,280 Golden Agri 85,028,885 Capita Land 82,650,318 Cosco Corp 77,027,630 OCBCBk 69,958,610 Sing Tel 59,866,002
        56 words
      • Article
        Lock icon RISES
        107 14 CLOSE UP LD 10US$ 8734 238.5 2.0 MH 3560 224.8 4.8 ir China H 10US$ 1823 45.2 1.8 iBS Gr[ 2048 42.0 2.1 i Con MBUCW*****0 415 35.0 9.2 i Con MBLJCW*****3 505 32.0 6.8 Jt 1200 30.0 2.6 il Con 1180 30.0 2.6 I A 1630 28.0 1.7
        107 words
      • Article
        Lock icon FALLS
        111 14 Closing prices are in trading currencies, but absolute difference is in Ss. CLOSE DOWN 'BSBk6% NCPS 10 *****-130.0 -1.2 iCBCBk4.5%NCPS 100 ***** -20.0 -0.2 'enture Con 1114 -18.0 -1.6 leteLusion 12.5 -12.0 -49.0 lembMar BNPePW*****1 18 -12.0 -40.0 IOB MBUCW*****0 705 -11.0 -1.5 iCBCCai ,93%Pref10 ***** -10.0 -0.1 IOB
        111 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      91 14 Up Down Unch 11 4 1 Up Down Unch 0 0 0 Up Down Unch 11 4 1 lulti Ind lanufacturim 81 56 62 12 16 85 68 78 Commerce 36 12 21 40 12 28 itor/ lomms :inance 19 20 Construction 10 11 'rot lotels/Rsts iervices
      91 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      126 14 MAIN SDQ TOTAL MAIN SDQ TOTAI lulti Ind 60,662 60,662 243,364 243,364 lanir facturing 403,373 46,485 449,858 331,461 4,514 335,975 lommerce 108,013 21,111 129,124 98,838 4,844 103,682 'pt/Stor/Comms 147,992 1,093 149,085 342,113 211 342,324 :i nance 39,378 41 39,419 350,357 350,366 lonstruction 49,563 49,216 98,779 10,952 2,431
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      37 14 CapitaLand 6.800 +0.090 lapfl Jev" .OS CO _orp irp ieni Jari line >pel _orp ipel .am ,rp Ham 2.920 +0.0b0 =ngg =ngg ieml .orp ieml TaT iing EaT ieverage Imar 'angzijiang ran1 Ion
      37 words
    • Article
      Lock icon BONDS & WARRANTS
      1748 14 BONDS WARRANTS Fel lode Company Last Sale Vol Conv Exer +or- ('000) Ratio Price Disc Gear- Mths ing Left »92 Asia Environment W*****4 12 -3.5 30 1 38 14 3.67 15 1267 Biosensors DB ECW*****5 21 -0.5 5 1 70 4 1014 Capitaland BNP ECW*****8 31.5 1 20 0.1 493
      1,748 words
    • Article
      Lock icon SGX CATALIST
      2163 14 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non-Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum offer
      2,163 words
    • Article
      Lock icon SGX XTRANET
      76 14 52-Wk Tel High Low Code Last Sale Vol Cooo] Day Last Quote Low Buyer Seller Div GrYld Net MCap C'vr P/E $mil Comi Hil 200 116 6065 Diamonds 6200 6200 6095 IS DJ US Tech 1000 1000 6097 IS MSCI Spore ***** ***** 6101 ISS&P5OO ***** ***** 6170
      76 words
    • Article
      Lock icon CLOB INTERNATIONAL
      72 14 52-Wk Tel |h Low Code Last Sale Vol COOQ) lay Low Bi .ast yer Juote Seller Div C'vr Net P/E fICap Hii Comi >an' Hii 136.6 61.9 6000 AVJennings 21.5 5.5 6134 Over&Gen 60.5 17.5 6017 StarCruises 320 199 6019 TanChonglnt A67 A10.5 US20 HK232 unch unch 2467
      72 words
    • Article
      Lock icon Construction starts on homes rise by 8.2%
      503 15 AP, Reuters, AFP, Bloomberg LATEST US DATA Growth comes from a big jump in apartment building construction [WASHINGTON] Construction starts on new US homes posted the biggest increase in more than two years in April, rising by a surprisingly strong 8.2 per cent
      – AP, Reuters, AFP, Bloomberg  -  503 words
    • Article, Illustration
      Lock icon RAIN CANNES STOP THE FESTIVITIES
      50 15 AFP [CANNES, Southern France] People waiting under umbrellas outside the Festival Palace during the 61st Cannes International Film Festival yesterday. The Cannes Film Festival on Wednesday officially unrolled its red carpet with a star-studded ceremony, kicking off the 12-day frenzy of movies, parties and deals.
      AFP  -  50 words
    • Article
      Lock icon Diamond ring auctioned for USssm is priciest gemstone
      300 15 ■AP Laurence Graff is the buyer of the 3.7-carat ring [GENEVA] A vivid blue 3.7-carat diamond ring sold for just under US$5 million at auction, becoming the priciest gemstone per carat ever, Sotheby's said yesterday. The oval-shaped stone about the size of
      ■AP  -  300 words
    • Article
      Lock icon Fears of US recession overblown: analyst
      488 15  -  OH BOON PING By [SINGAPORE] The Federal Reserve is likely to cut interest rates by another 25 basis points, before pausing to monitor the key economic data in US, according to the National Australia Bank. However, its group chief economist Alan Oster felt that
      488 words
    • Article
      Lock icon World economy on brink of decline
      505 15 -AP, Reuters, NYT Only 1.8% growth expected this year, UN report said [UNITED NATIONS] The world economy is "teetering on the brink" of a severe downturn and will grow by only 1.8 per cent this year, the United Nations has said. That forecast in
      -AP, Reuters, NYT  -  505 words
    • Article
      Lock icon Japan GDP grows 0.8% in Q1, beating forecasts
      583 15  -  ANTHONY ROWLEY -i- i By in Tokyo JAPAN'S gross domestic product (GDP) grew by 0.8 per cent or an annualised 3.3 per cent in the first quarter of this year, a rate ahead of expectations and which appeared to defy predictions that
      583 words
    • Article
      Lock icon Thailand assures it will not restrict rice exports
      370 15  -  LAN POH By THAILAND'S Department of Foreign Trade (DFT) yesterday provided assurances that the kingdom will maintain its policy of not restricting rice exports, despite rising rice prices and a shortage of domestic supply. This is of note to Singapore: the city-state
      370 words
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  • MOTORING
    • Article, Illustration
      Lock icon 4 fun
      791 16  -  SAMUEL EE As the world's fastest-growing premium brand, Audi is charging ahead with a product offensive. Here, we drive its newest and sportiest model, the 4.7 m long Audi A 4 3.2 FSI quattro Reports by I IFTEEN centimetres may only be half a foot but to the
      791 words
    • Article, Illustration
      Lock icon Titillation at a price
      592 16  -  CV CHEW By HOW does one improve on a winning product? Carefully, it seems. On paper, the Audi TTS doesn't offer much more than its lesser brethren (higher power, quattro permanent all-wheel drive and magnetic ride are now standard equipment) except that it is topped off
      592 words
    • DRIVING NOTES
      • Article, Illustration
        Lock icon Take the Saab challenge
        142 16 NEXT month's Saab City Duathlon will allow participants onto part of the upcoming Formula 1 Sing Tel Singapore Grand Prix route for the first time. The Swedish carmaker is the title sponsor for the second edition of the City Duathlon, which combines 15 km of running
        142 words
      • Article, Illustration
        Lock icon New cat in town
        129 16 MALAYAN Motors is launching the Jaguar XF (above) at its showroom this weekend but you'll have to get in line if you want to buy one. The first shipment of this highly anticipated sports saloon from the British marque launch is spoken for and any new
        129 words
      • Article, Illustration
        Lock icon Shell V-Power promotion
        141 16 TO CELEBRATE the Ferrari team's victory last Sunday at the Turkish Grand Prix, Shell V-Power is being offered at the price of Formula 98 this weekend. That means Shell V-Power's pump price wiU be reduced from $2,329 to $2,210 per litre, or from $2,213 to $2,100 per
        141 words
      • Article, Illustration
        Lock icon Clio III in Singapore
        109 16 WEARNES Automotive is now offering the Renault Clio five-door hatchback (above). The third-generation of this French mini was first unveiled to the world in 2005 but this is the first time it has been made available here. The Clio 111 boasts a roomy interior that will
        109 words
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  • GOLF
    • Article, Illustration
      Lock icon Never too ate to turn pro
      1949 17 For exceptional amateurs, turning 50 can offer another chance at becoming a touring golf pro, says JUSTINE MOSS MANY amateur hackers have no doubt dreamt of turning pro a few times in their lives. The reality is that one has got to be pretty
      1,949 words
  • Page 17 Advertisements
    • Advertisement
      Lock icon Page 17 Advertisements Column 1
      672 17 Wine&dine with weekendßT Chatterbox Oscar's Lunch and Dinner Buffet menus, from fresh 11 Canning Walk. Tel: 6333 9979 main course will enjoy free-flow of complimentary 333 Orchard Road, Meritus Mandarin Singapore seafood' S°T f?™ 9 '°Ca' fl m]ema^ f\ > hes' This May and June, take your family out for
      672 words
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  • WELLNESS
    • Article, Illustration
      Lock icon TCM for childhood myopia
      982 18 FILE PHOTO Acupuncture on the eye muscles causes changes in the shape of the eyeball to help correct nearsightedness, reports MELISSA HENG m HEN Ms Fun's eight-year-old daughter was diagnosed in school with early myopia, she did what few mothers here would have done. Rather than
      FILE PHOTO  -  982 words
    • Article, Illustration
      Lock icon Watch your waist for disease risk
      831 18 IHT IT'S time to step off the scale and get out the tape measure. The size of your waist can tell you far more about the state of your health than the number on a bathroom scale. Studies have linked larger waist sizes to
      IHT  -  831 words
  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      307 18 CRYPTIC CROSSWORD ACROSS 5 What journalist writes may I A song and dance, notice make it clear (7) (6) 6 Hear song, ill-written, about 4 To clean crockery used to be northern groupies (7-2) hard at college (4,2) 7 Like excuses over closure of 8 Notorious home recognised theatre (6)
      307 words
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  • SHOPPING
    • Article, Illustration
      Lock icon Cinderella's sole-mates
      609 19 Her Glass Slipper is a multi-label shoe store with focus on affordability and comfort, reports CHEAH UI-HOON SHE loves shoes; he's a fashion photographer. When Ada Lee and Adrian Thoo decided to set up a business, what better than to capitalise on their respective strengths. Her Glass Slipper
      609 words
    • Article, Illustration
      Lock icon Exuding that whiff of confidence
      514 19 CHRISTOPHER LIM checks out the latest specialised and unisex fragrances in town THE battle of unisex colognes versus specialised scents for men and women continues, with contrasting approaches vying for your attention in the market. Ed Pinaud's original signature scents are finally available in Singapore,
      514 words
    • Article
      Lock icon Club 21 joins GSS fray with extra 7% rebate for tourists
      490 19  -  CHEAH UI-HOON By WHILE the Great Singapore Sale (GSS) is great news for most, it has always been seen as a sale for mid-price and high street labels rather than luxury. Your hopes of getting markdowns on Prada, Miv
      490 words
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  • PERSONAL SPACE
    • Article, Illustration
      Lock icon Where life's a breeze
      1087 20 Tan Eng Sim's home on a hill is bright and airy with panoramic views of treetops and Nature at the doorstep, writes GEOFFREY EU THERE are many things to admire about Tan Eng Sim's spacious modern home near the top of a small, secluded hill in
      JOHN HENG  -  1,087 words
    • Article, Illustration
      Lock icon Having food & fun
      1493 21  - Having food fun Geoffrey Eu Geoffrey Eu Cheah Ui-Hoon BT checks out three places that will please your palate as well as tickle your funny bone By By By Tampopo 177 River Valley Road, #01-23/24, Liang Court Shopping Centre. Tel: 6338-3186. Tampopo Deli, #81-16. Tel: 6338-7386 JAPANESE family restaurant Tampopo
      1,493 words
    • Article, Illustration
      Lock icon Food and beer make a gastronomical pairing
      868 21  -  CHRISTOPHER LIM By "WlNE goes great with food; it's just that beer with food is even better," declares Archipelago brewmaster Fal Allen with gusto. While that is a fairly contentious statement, to say the least, it does highlight the fact that it's certainly
      868 words
    • Article, Illustration
      Lock icon Starters up!
      1219 22 $3 million is up for grabs on the biggest race day, the Singapore Airlines International Cup, writes Larry Foley WITH only one day left in the countdown to the biggest race day on the Singapore Turf Club (STC) calendar, you could forgive the connections of some of the
      1,219 words
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