The Business Times, 17 July 2002

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Total Pages: 30
1 30 The Business Times
  • 20 1 THE BUSINESS TIMES SINGAPORE JT j !ptorn C .i http://business-times.asia 1 com sg WEDNESDAY, JULY 17, 2002 MITA (P) 010/03/2002
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  • 74 1 □m VSB6J6 (-23.91) ST INDEX FUTUSES lfSHLOO (-17.00) n 8DD0I niTDlEB mm mi§ (-2.40) STOCK MABKET INDICES Tuesday Change KLSECOMP 734.96 -4.77 NIKKEI 225 -124.73 HANG SENG 10.***** -160.17 SET INDEX 392.56 4.81 JAKARTA COMP .481.77 >0.87 MANILA COMP .1,168.73 *7.04 TAIPEI WP1 M1&01 -75.00 SEOULCOMP 771.45 -1107
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  • 66 1 FOREX BATES UvSS ss US$ (S$ per US$) 1.735 £(US$/SS per 1572 2727 EURO(US$/S$/E). 1.007 1.747 YEN 116 J 67.00 RM 3.800 2.190 HKS 7.800 4.496 BAHT 40.35 23i5 RITTAH 9,045 WIS FUME BATES SINGAPORE* 5i§ KUALA LUMPUR 6.40 HONG KONG 6.125 JAKARTA 39.00 TAIPEI 6.625 TOKYO 1J75 SEOUL
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  • 718 1  -  Govt to decide soon on letting banks provide market-rate loans for public housing By: Kalpana Rashiwala, Siow Li Sen [SINGAPORE] Banks could soon have access to an additional source of business at least several billion dollars of housing loans a year
    718 words
  • 455 1  -  Port operator's more flexible business policy is paying off By 1 Beth Jinks [SINGAPORE] Korean container line Hanjin Shipping has agreed to keep its transhipment business in Singapore for 10 years the first tangible result of PSA Corporation's new and more flexible business policy.
    455 words
  • 532 1 Fed chief hints at putting interest rates on hold AP, Reuters, Bloomberg, [WASHINGTON) Federal Reserve chairman Alan Greenspan told Congress yesterday the US economy is on the road to full recovery but will keep feeling the effects of last year's recession.
    AP,; Reuters,; Bloomberg,  -  532 words
  • 422 1  -  Byi Quak Hiang Whai [SINGAPORE] Foreign banks are hitting back in the raging home loan war after recent aggressive rate cuts by local banks to take back price leadership. In the wake of rate revisions by United Overseas Bank and OCBC in
    ARTHUR LEE  -  422 words
  • Page 1 Advertisements
    • 87 1 DtSPBE Shipping Times Gulf Air 2000 crash due to human, systemic errors. Shipping Timem Pg 12 Top Stories PwC: risk of fraud with quarterly reporting. Pg 4 DBS keeps its eye on priority customers. Pg 3 Raffles Town Club defence wants trial to go ahead now. Pg7 HK economy continues
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    • 27 1 SPH won't list property assets Next Page S'pore June exports still in negative zone Next Page EON set to win VW, Audi franchises in M'sia page 15
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    • 349 1 Interested in saving money on your overseas property loan? Since the start of 2001, the US dollar Federal Funds rate has been reduced an astonishing 11 times and has reached its lowest level m almost four decades. Similarly, the Sterling pound base rate has been reduced to a level not
      349 words
    • 44 1 CPF REVIEW Initial proposals more severe, Pg 3 Lower monthly cash outlay for younger upgraders, Pg 4 Genevieve Cua: CPF should do more to keep funds' costs down, Exec Money, Pg 18 Eye» on Greenspan as euro tops US$l, Pg 6 FULL REPORT N«xtPaf»
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  • NEXT page
    • 397 2  -  Group cites unfavourable market conditions and regional economic uncertainties By Quak Hiang Whai [SINGAPORE] Singapore Press Holdings (SPH) has abandoned its plan to spin off and list its property businesses. "As current market conditions, exacerbated by uncertainties surrounding regional economies, are
      397 words
    • 256 2 [SINGAPORE] The newly appointed president of Singapore Press Holdings, Alan Chan Heng Loon, sees it as his duty to ensure the financial viability of the group's various media businesses. In an interview with SPH's in-house newsletter, Press lines, Mr Chan, who
      256 words
    • 358 2  -  KwekLengßeng says investing in property abroad is no child's play By\ rcri Quak Hiang Whai l SINGAPORE J Investing overseas is no child's play and entrepreneurs must ensure they get their backyard right first before taking the next plane out of Singapore,
      ARTHUR LEE  -  358 words
    • 683 2  -  Bnt double-digit growth expected in second half By Chuang Peck Ming (SINGAPORE] Contrary to market expectations, Singapore's key non-oil domestic exports (NODX) remained in negative territory in June. However, they are tipped to register doubledigit growth in the second half of the year. International
      Source: IES  -  683 words
    • ON THE grapevine
      • 73 2 PROPERTY and finance tycoon Kwek Leng Beng took the opportunity to plug his Hong Leong Group yesterday when he was inaugural speaker at the E5O Leaders Talk series. Asked how much time he had set aside for a question and-answer session, he told the audience
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      • 99 2 STILL on Mr Kwek, he also shared with the audience his learning experience with his late father Kwek Hong Png, who founded the Hong Leong Group. "My father had a significant impact on me," Mr Kwek revealed. "He was my mentor. There is much about this
        99 words
  • Page 2 Advertisements

  • CPF review
    • 603 3  -  If adopted, some of the CPF changes would have affected a much bigger group Reports by I Anna Teo THE impending Central Provident Fund changes would hit a much bigger group of people, if the Economic Review Committee's initial proposals had come to pass. One key
      603 words
    • 671 3 Majority of those affected will see rise of $200-$ BOO IF you are approaching the 50-55 age group and earn $500,000 a year in basic pay, your tax bill will swell by just over $1,000 when the proposed changes to
      671 words
    • 441 3  -  By' Vince Chong SOME businesses in Singapore, including a foreign multinational, have voiced support for giving back to employees the cost-savings resulting from the proposed lowering of the CPF contribution salary cap from $6,000 to $5,000. The proposal was among the recommendations of
      441 words
    • 926 4  -  But homeowners above 51 will have to cough up more cash for property Byi Andrea Tan Although the affordabUity of housing will generally be chipped away by the proposed CPF changes, younger upgraders will need to fork out 2 to 4 percentage points
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    • 553 4  -  Analysts cite weak economy, Hungry Ghost Month By Ven Sreenivasan PROPERTY stocks and the underlying property market didn't react sharply to the CPF proposals on Monday. And analysts, with the benefit of another day to ponder the proposals, yesterday saw no reason why
      553 words
    • 159 4  -  li\ b bag Hong Chong Hui Singapore IT is often said that Singaporeans are asset-rich and cash-poor ("Property players relieved affordability not severely cut", BT, July 16). But with today's lower property values, most of us are not even asset-rich. If we were
      159 words
    • 142 4  -  Paul Goh Singapore THE CPF changes planned by the government are supposed to be "for the general good" ("Property players relieved affordability not severely cut", BT, July 16). But there are always people who are "caught in the middle" which leads me
      142 words
    • 67 4  -  Tan Thiam Hong Singapore THE economic subcommittee's proposals on the CPF ("Panel proposes CPF to be scaled back", BT, July 16), are commendable. But I fear we are not making progress in terms of educating CPF members to be mature when handling their
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    • 502 4  -  By Vince Chong ALTHOUGH developers held back on launching new residential property projects before Monday's announcements on Central Provident Fund changes, the market does not expect new homes to flood the market this week. New releases this week include Allgreen Properties' 481-unit
      502 words
    • 443 4  -  Most loans paid off before 10th year, so little impact seen of CPF rales change Byi Quak Hiang Whai THE measured proposals in the CPF rules may have removed a huge uncertainty in the property market, but Kwek Leng Beng one of
      443 words
  • Page 3 Advertisements
    • 179 3 s < Mercedes-Benz Is a trademark of DaimlerChrysler. 10 fc »—*<-1 Life doesn't come with instructions. Obey your heart. The new CLK. V-',**f*' <* v v *3-' -V* &i ■.•>.:■ >.:,-■ The new CLK, Is a car born out of a elegance and down to earth practicality. requirements as the
      179 words

  • Page 4 Advertisements
    • 271 4 _SANTAKU SANTAK HOLDINGS LIMITED (Incorporated in the Republic of Singapore) GIVEN ,hat Extraordinary General Meeting of the Company will be held at 31 Senoko South Road. Woodlands East Industrial Estate, Sngapore *****4 on the 2 August 2002 at Z3op.m. for the purpose of considering and, if thought fit, passing with
      271 words
    • 49 4 &&&££SSo Profit 12%^(Fxedl lamSßiib. I I Reigna International Investment Ltd I 8 Temasek Boulevard Suntec City Tower 3 1 B #27-02 Singapore *****8 Tel: 65-*****397 Fax: 65-*****833 Email: inveatOralpna.com-«fl W WALK IN PRESENTATION: 5.00pm (Mon-Sat) HOME NEEDS^j The Straits Times Classified. r-jKj Classifications 90 120. Bay il s*iit wk
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  • SINGAPORE comapnies
    • 495 5  -  Pressure to show results could lead to 'aggressive accounting': exec By< Angela Tan AS Singapore listed companies start reporting from next year their financial performance on a quarterly basis instead of half-yearly, managements will be put under tremendous pressure to show results within
      495 words
    • 543 5  -  I! 'V'llocksiew wong wei kong WHILE all the attention was on the latest crop of IPOs last week, two small caps announced significant investments by institutional investors. The two companies are both different and alike. Osim International is a maker of health and lifestyle products,
      543 words
    • COMPANY Briefs
      • 49 5 Bloomberg STANDARD Poor's has cut Jardine Strateglc's credit rating outlook to "negative" from "stable" after the firm offered $241.7 million for 21.1 per cent of Cycle Carriage to raise its total stake to 50.2 per cent. S&P said the proposed acquisitions were "higher risk businesses".—Bloomberg
        Bloomberg  -  49 words
      • 61 5 A TOTAL 0f2,650 investors have been allocated 204.06 million units under Capita Mall Trust's institutional offering. Lead manager DBS Bank said 37 investors were each allotted 1 million units and above, while 53 received between 500,000 and 999,000 units each. At the other end of the
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      • 33 5 INTERIOR architecture firm Futuristic Image Builder said its initial public offering was 21.5 times subscribed. It had offered 18 million new shares at 21 cents each. Trading starts today.
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    • 378 5  -  By Siow Li Sen DBS Bank is looking into shortening the queueing time at automated teller machines (ATM) for its priority customers as part of the overall strategy to prevent this group from being lured by the foreign banks. One way to do
      ARTHUR LEE  -  378 words
  • Page 5 Advertisements
    • 178 5 BENTLEY FOR THOSE WHO KNOW, THE NAME SAYS IT ALL. THE NEW BENTLEY ARNACE T. EXTREME POWER. EXCEPTIONAL LUXURY. H IT'S A BENTLEY. IT'S AN ARNAGE. WHAT ELSE NEEDS TO BE SAID ABOUT THIS EXTRAORDINARY CAR? The result of a three-year project, the Arnage T is a refreshing take on
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  • SINGAPORE markets
    • Article, Illustration
      272 6 OTHER SINGAPORE INDICES Jul 16 VALUE CLOSE mmfm 48.00 -61.00 WC—I -*****.00 -116.00 -*****.00 +S.QQ KMw 426.92 -5.17 Wipllinill 138.41 -2.49 1392.00 -32.05 415.07 -4.49 ma tit>n an 198.56 -3.25 QtanHlllOC 25.048.000 Dafto5c *****.000 KLWHMgS 10c...... 21,756,000 Dstacraft 10c 17,766,000 HLInttUS20c 15,636.000 Aspnetoen 2.5c 10,771,000 WesTech 10c 10,055,000 Ro*WUS10c. 8^33.000
      272 words
    • 741 6  -  llongervSew CURRENCIES Fears of bigger Wall St, greenback falls if Fed chiefs testimonies fail to tnrn thing* around larry wee AFTER faltering at the final hurdle for three consecutive weeks, the euro finally topped the symbolic one US-dollar mark after Asian hours
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    • 704 6  -  < comment STOCKS r. sivanithy IN a bear market it's always tempting to take the contrarian view and buy when others are selling. Maybe not this time though. An astonishingly large number of well-schooled, independent-thinking value players have done what they thought
      704 words
  • 2360 6 UNIT TRUSTS FUNDS Com Global Irrfotec Index Fd!** 03/ Com Global Energy Index Fd 0.901/ Com Global Travel Index Fd 0 71* AM Aavo A«et Mgt (S'pere) Com Spore Bond Fund/" 10*6/ Star Europe Eqty!* 0 66* Star Europe Bd 1.047/ CradK Agricofc IM Mgt S pore Ltd Star Europe
    2,360 words

  • SINGAPORE news
    • 525 7  -  This will allow evidence to be heard and prevent plaintiffs from later seeking re-trial By\ Serena Ng THE High Court yesterday reserved its decision on the two preliminary issues raised in the class action suit against Raffles Town Club (RTC), following an
      525 words
    • 337 7  -  on the economy electronics -By Eugene Low THE contraction in electronics exports eased slightly in June, figures released yesterday by International Enterprise Singapore (lES) show. After declining 11.2 per cent in May, the slide in electronics exports moderated to 9.6 per cent year
      337 words
    • 164 7 THE government is for the first time offering for sale a land parcel under an MRT viaduct for private sector commercial development in what is seen as part of its efforts to extract greater value from state properties. The 21,400 sq
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    • 426 7  -  Byi Chuang Peck Ming EXHAUSTIVE tests exceeding standards set by the World Health Organisation and the US government were used to determine that the reclaimed water Singapore is producing is safe to drink, according to an international panel of experts. Professor Ong Choon Nam, the panel's
      HOW HWEE YOUNG/ST  -  426 words
  • Page 7 Advertisements
    • 273 7 Stir up the interest ef over 460,000 readers SiMK for as as $26. Hflfl C«il 1100.7)7.1 IM for fkst muto. EXCLUSIVE DISTRIBUTORSHIP SINGAPORE VISIT OF MEDICAL DEVICE Friday 26th 29th July 2002 Projected 10 year profit of US$l.3 billion A detailed business plan for China is A clinically proven non-surgical
      273 words
    • 172 7 fertile r j When do you need II Yomeishu? it Kerf ul at be in the itaining tant If nostout meishu ask ons. MTp j g f lomcisnu improves digestion and stimulates appetite. Its ingredients are also beneficial to your general well-being. v What can Yomeishu do for you? For
      172 words

  • EDITORIAL & opinion
    • 660 8  -  mnm I bottom line OPINION harish mehta The writer is an Indochina specialist THE Second Garth Summit, to be held in Johannesburg next month, is supposed to give a new push to the effort launched 10 years ago at the First Earth Summit
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    • 116 8 They say it's only in the rinse cycle you find out how dirty the laundry really was. Now we are in the rinse cycle.' -WamiAAtt the billionaire investor, on the lack of transparency among US companies. 'China supports the efforts of King Gyanendra and the Nepali government
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    • 621 8 EDITORIAL JAPAN'S powerful bureaucracy —the finance ministry, especially— appears to be reasserting itself after attempts by Prime Minister Junichiro Koizumi and his predecessors to cut it down to size. And when Mr Koizumi is not doing battle with scheming bureaucrats, he is having to confront obstinate
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    • 1132 8  -  Public investment in the form of infrastructure spending through deficit financing is something the new finance minister shonld consider From Prem Shankara Jha The writer, former editor of The Hindustan Times, contributed this article to BT in New Delhi INDIAN Prime Minister
      AFP  -  1,132 words
    • 730 8  -  COMMENTARY It's a sordid Ule of cronyism and misuse of power By Nicholas D Kristof The writer is a New York Times columnist NYT DEMOCRATS and media hounds are baying under the wrong tree. The point in President Bush's business career where he took
      NYT  -  730 words
  • Page 8 Advertisements
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  • REGIONAL news
    • 561 9  -  PEGGED CURRENCIES Hope may lie in stronger exports with weaker US$ Fromi Andrey Tan in Hong Kong THE Hong Kong economy continued to decline with unemployment reaching another record high of 7.7 per cent in the second quarter, but a weaker
      AP  -  561 words
    • Ringgit fall hitting Proton, rivals
    • NOTEBook
      • 96 9 Bloomberg [HONG KONG] BOC Hong Kong (Holdings) Ltd, the local unit of China's largest foreign currency lender, attracted offers from institutions for more shares than are available in Asia's biggest stock sale this year, bankers said. Professional investors, including most erf Hong Kong's
        Bloomberg  -  96 words
      • 80 9 AFP [BANGKOK] Investors snapped up over half of Thailand's largest savings bond issue on the first day of the 305 billion baht (Ssl3 billion) offering, reports said yesterday. The issue launched on Monday is aimed at helping Bank of Thailand finance the mountain of debt
        AFP  -  80 words
      • 63 9 AP [BEIJING] Shenzhen exported US$2O.5 billion worth goods during the first half of2oo2—a 19.9 per cent rise from the same period last year, Xinhua News Agency reported yesterday. Quoting customs officials, Xinhua also said that in the first six months of the year, the city's
        AP  -  63 words
      • 85 9 Reuters [BANGKOK] The head erf* Slam Cement yesterday warned that Thailand risked stifling crucial export industries and damaging the agricultural sector if it allowed the baht to get too strong. Slam Cement president Chumpol NaLamlieng said that Thailand should never lose sight of the
        Reuters  -  85 words
      • 109 9 Reuters [MANILA] Philippines' food and beverage group San Miguel Corp told the stock exchange yesterday that it would be interested in acquiring a stake in Jakarta-based Indofood Sukses Makmur, the world's largest noodle maker, if one were ever offered. This followed a Philippine Daily Inquirer
        Reuters  -  109 words
    • 333 9  -  From] Harish Mehta in Bangkok A CONSORTIUM led by two sisters of Thai Prime Minister Thaksin Shinawatra is seen as the frontrunner for a 16 billion baht (Ss6B7 million) telecom contract to provide services in the provinces, local media said yesterday.
      333 words
    • 373 10  -  Fond managers say the sale, which netted 1 J4t rupiah, restores confidence in market From', Shoeb Kagda in Jakarta SHARES of PT Telekomunikasi Indonesia, the country's largest domestic call operator, rose yesterday as investors were buoyed by the government's sale of a
      373 words
    • 152 10 JAKARTA AFP AN Indonesian state body is investigating the finances of three judges to check whether they were bribed to pass a shock bankruptcy ruling against a foreign-owned firm, the head of the body said yesterday. Yusuf Syakir, chief of the
      AFP  -  152 words
    • 415 10  -  Stags on t for quick profit curb gains of Li Ka-shing's firm Prom, Audrey Tan in Hong Kong RETAIL investors selling for a quick profit put a cap on CK Life Sciences' debut yesterday, resulting in the Li Ka-shing biotech unit closing just
      415 words
  • Page 9 Advertisements
    • 25 9 t> find out more about Winner of 9 Monde Selection Medals Visit our website at Jivww.food-empire.com Tel: (65)6744 8911 Fax: (65)6744 8977 F()()(l FMJ)II f?
      25 words
    • 1562 9 I I TT INTERNATIONAL LIMITED (Incorporated m the Republic of Singapore on 19 October 1964) notice of extraordinary general meeting NOT,CE J S HEREBY Q'VEN thai an Extraordinary General Meeting of the Corr*>any wM be held at 10 Toh Guan Road, *10-00, IT International Tractepark. Singapore *****8 on Thursday, 8
      1,562 words
    • 275 9 THE COMPANIES ACT (CAP. St) Section 291 (1) STATUTORY DECLARATION BY MOTORS OF COMPANY? MAMUTY TO CONTINUE BUSINESS IY REASON Of ITS UAMLfTIES Name of Company: K* Gwan Shipping (Pie) Ltd Company No: 1977Q2787K The Registrar of Companies Businesses, Singapore We. Wee Eng Seow of 131 Serangoon Ave 3 #08-16.
      275 words
    • 301 9 IN THE MATTER OF THE COMPANIES ACT (CAP 59) AND IN THE MATTER OF OE 6WAM SMPPM6 (PTE) LTD (la CrafflM' V*i UfiWattM) NOTICE IS HEREBY GIVEN that a meeting of the creditors of the Company will be held at 1 Coleman Street #06-10, The Adelphi, Singapore *****3 on Thursday,
      301 words

  • Article, Illustration
    824 10 Transaction date: Jul 16 IMTKIBAIH CROSS RATES m Wi 1 ■n Nil Hm S% nmi Ur m m N«< W Ml8 4MB Un VJS4 to* 3 <"54 "w MM 183 33.565 213*7 0.976 5252 0 820 *620 22.702 0.358 0263 ST oS !2 J" 4 am U34 3U« 32J04
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  • 1441 10 SICOMFUTUilBg June tMKXFatetKOartmrtcK) am Ma teaa 525 t- Irtt (tmmH Mm** 143.75 S«9 02 1447c Oct 02 VM.50 *o»02 <4450 KSJWcanbAf) Htmm Omm Lmt Sett M MM SS»« 5L» iwo «J0 BO 650 M 8100 K50 *00 2050 ■•*02 90.00 2K0 TSI20 (US cwm/ty VMM OMM SfiH JSI twr
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  • WORLD news
    • 506 11 NEW YORK Stock market's decline reflects investor despondency AFP WALL Street had hoped for a rally this summer instead it got a full-scale retreat. Eight weeks of selling have sent the Nasdaq composite and Standard Poor's 500 indexes to their
      AFP; Source: MarketHistory.com, Reuters  -  506 words
    • WORLD Watch
      • 48 11 Bloomberg [PARIS] Bank of France governor Jean-Claude Trichet will go on trial for his role in false accounting at Credit Lyonnais in the *****. The decision may jeopardise Mr Trichet's chances of becoming the next president of European Central bank. Bloomberg
        Bloomberg  -  48 words
      • 53 11 Bloomberg [DETROIT] General Motors Corp's second quarter net income more than doubled as it built more vehicles in North America and offered discounts. Net income rose to US$l.29 billion, or U552.43 a share from US$477 million, or US$l.O3. Revenue rose to US$4B.3 billion from
        Bloomberg  -  53 words
      • 63 11 Reuters (NEW YORK] Merrill Lynch Co yesterday posted a rise in quarterly earnings—including an expected US$lOO million payment to settle a probe into its stock research. Merrill posted second quarter earnings of US$634 million, or 66 cents a share. That compares with a profit of
        Reuters  -  63 words
      • 71 11 Bloomberg (WASHINGTON] More than seven in 10 US residents don't trust the chief executives of large corporations, and eight in 10 say executives will take "improper actions" to help themselves at their companies' expense, according to a USA Tocfay/CNN/Gallup poll of 1,013 adults. It
        Bloomberg  -  71 words
      • 62 11 Bloomberg [AMSTERDAM] Royal Philips Electronics had a record loss in the second quarter after writing down its stake in Vivendi Universal. It lost 1.36 billion euros (552.4 billion) after it reduced the value of its 3.5 per cent Vivendi stake by 1.52 billion euros. The
        Bloomberg  -  62 words
    • 272 11 WASHINGTON Bloomberg US industrial production rose in June by the largest amount since October 1999 as factories turned out more autos and utilities increased power generation, the Federal Reserve reported. The 0.8 per cent rise in work performed at factories, mines and utilities
      Bloomberg  -  272 words
    • 326 11 WASHINGTON LAT-WP IT WAS a media moment made in hell for any White House: a split TV screen showing the president on one side exuding confidence in the economy and the Wall Street big board on the other with all arrows pointing south. That's
      LAT-WP; AFP  -  326 words
    • 514 13  -  Compromise with House expected; Bosh looks for early signing of bill From] Leon Hadar in Washington AGAINST the backdrop of reports on US corporate fraud and mismanagement, the Democrats and Republicans in the Senate passed by voting 97 to 0 a
      514 words
  • Page 11 Advertisements
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    • 93 11 Lianhe Zaobao I I Opposition I I against I I Li Ka-shing I I exists I I I I I I MULTI AWARD-WINNING MANDARIN CHICKEN RICE Come, savour Singapore s favourite dish and other delights anytime. Enquiries: 6831 6291 Cof fe«how»r "~-3C»— iiMt m Mtutdtxrut UJ Singapore jJBW, se*x=o«<=^3^ I
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  • 4371 12 Transaction date: Jul 16 for more, go to ivwwjasiaonenmarketsjcxmi HONGKONG 735 -o, 5 ,39 mtwchma Hldgs. 0J1 -0.03 1615 W Intl Bank of Asia 1.97 uncf> 354 •Regent Group 0.30 003 1274 S'i .2.5 T,i „J?S£ "angsu Express H J03 008 2308 f* Jiangsu Nandasoft Co H.061 uncti
    4,371 words
  • 2247 12 Transaction date: Jul 16 KUALA LUMPUR FraseraNeew MO uich 51 Vol FS8M 2.17 inti 0 MM W- rOOO) FWIndustries 0.39 -0.01 34 Gadang 131 -006 11 A AM Realty 1.05 -0.01 20 Gamuda 645 -0.05 448 Abhc 1.57 -0.01 241 GanadCorp 1.11 030 5 ACP Industries.. .3.18 0.02 30
    2,247 words
  • 700 12 Transaction date: Jul 16 5__2S5_35fci_5!*"55 5L__®5L_J*!!!!P g*C AUO OlM 1.720 4010 Cap«aLand IJJ 1JH OCK 1040 Jmh OWMCorilk 147 UB -MM out «J7 7JJ0 4M0 0*Dm50i IJJ IM -ft 100 ftvta«yH23c 0J7 0405 4125 OMfcaT25c on 17 700 4400 SGXH Ml 1.170 -0410 MSG® 1170 ***** 4400 BASK 72*
    700 words
  • 564 12 BONDS WARRANTS UM MCmm Ear tSc <*■»■« h* nm m w un AST1W*****1 *5 1 16 It 151 23 AcmeUdW041l16 J 1 SO 471 450 28 An«ekW*****0 IU 4 mt 1 33 4 130 35 AmMrong MNBO 15 1 10 12 "0 22 8ar6%SA*****1 10k 105 8ar6 5%J*****01 10k lon«ftM2l01S
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  • Page 12 Advertisements

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  • Page 13 Miscellaneous
    • 183 13 CRYPTIC CROSSWORD clever stroke of business (4) 29 It's accepted as genuine 12 Nerve twice required in traf- 26 Foodbi(4) down under (4.6) fcjam (10) YESTERDAY'S SOLUTION DOWN 13 Odt to someone Acro«: 1 Sprtsawy, 9 H«*2 Staff hokSng a oourse (4) led, 10 Nathan, 12 Rundown, 13 3 Announcement
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  • FORMULA ONE
    • 978 14  -  F1 aerodynamicists battle the forces for an edge over other teams, hebe hxentzsch explains the mechanics HEIKEN HIENTXSCH The writer is a freelance journalist specialising in motor sports. She also prepares motorsports press releases for BMW Ag THERE appears to be no known antidote to the
      AP  -  978 words
    • 764 14 Reuters [LONDON] Juan Pablo Montoya and Rubens Barrichello go back a long way together. Far enough for Colombian Montoya to recall how the Brazilian, now world champion Michael Schumacher's Ferrari team mate and his own Formula One rival, once raced against his father and
      Reuters; AFP  -  764 words
    • PITStop
      • 125 14 RENAULT is aiming for a first podium finish of the season at its home French Formula One Grand Prix on. Sunday. "Weil certainly be looking for points and it would be great to improve on that at our home race," said technical director Mike Gascoyne. "TTiat
        125 words
      • 135 14 THE Australian Institute of Sport (AIS) is developing a programme designed to hkp Australia find anew Formula One world champion. The internationally-acclaimed AIS has signed a four-year deal with the Confederation of Australian Motorsport (CAMS) to help train potential racing car drivers. CAMS will
        135 words
      • 136 14 CARMAKERS involved in Formula One racing are not in talks with banks on taking a in the event's marketing organisation following the demise of German media group Kirch, a BMW board member told Reuters. The manufecturers—Ftord, Fiat Renault, BMW and DaimlerChryaler—fanned the GPWC (Grand Prix
        136 words
      • 169 14 MALAYSIAN Minardi driver Alex Yoong has denied his own father's suggestion that he is likely to quit Formula One at the end of the season. Yoong, who has flailed to qualify for two of the 10 races so Car this season but brings in important
        169 words
      • 136 14 JENSON Button still does not know who he will be racing for in Formula One next season but he is not about to slash his pay to stay with Renault. The Briton's two-year loan to Renault from Williams is up at the end of
        136 words
      • 130 14 FORMULA One can expect two or three new races in 2004 but Britain's slot on the calendar looks safe providing the grand prix is properly run, says governing body FlA's president Max Mosley. "If s for Bernie (Ecclestone) to make the proposal but I think
        130 words
      • 91 14  -  Ciffliilbyl Christopher Tan ALLAN McNish is confident Toyota has resolved the starting problem that left him stranded on his home Formula One Grand Prix debut on July 7. The Soot said recent tests in Italy had produced a solution. "We went to Monza to try and
        91 words
    • 312 14 Reuters MICHAEL Schumacher says he would be happy to wait another week to celebrate his record-equal-ling fifth Formula One championship before his home fans at Hockenheim on July 28 instead of in France. The German Ferrari driver will become the sport's fastest champion
      Reuters  -  312 words

  • BT motoring
    • 389 15  -  M'H exclusive Byi Christopher Tan MALAYSIAN motor distributor EON, which is selling its stake in Singapore's Cycle Carriage Ltd (CCL), looks poised to secure the Volkswagen and Audi franchises in Malaysia. BT understands EON could take over from incumbent Auto Dunia
      389 words
    • 777 15  -  ptT exclusive] CEO cites strong, professional partners and product range, for optimism By( Conrad Raj SOUTH-EAST Asia and its fast-growing car market will be an important contributor to Nissan 180 the second phase of Carlos Ghosn's plan to turn the
      REUTERS  -  777 words
    • BUMPER to BUMPER
      • 116 15 SINGAPORE Casket, the country's leading undertaker, has self-imported two new Volvo hearses—despite desperate attempts by the local agents to block the deal. The two carriages were registered last week, and are expected to be used for premium services. The cars are made by Volvo Cars,
        116 words
      • 164 15 THE days are numbered for the Daewoo brand on the automotive scene here. BT understands General Motors, the new controlling shareholder of Daewoo, is likely to stamp all fliture Daewoo cars imported into Singapore with the Chevrolet badge. It would thus make Singapore the second
        164 words
      • 164 15 GERMAN luxury vehicle maker BMW Ag has won Chinese government approval for a venture with Brilliance China Automotive Holdings, Bloomberg reported. BMW has waited some 18 months for the approval, which will allow the Munich-based manufacturer to build vehicles in China for the first
        164 words
      • 69 15  -  -Compiled by i Christopher Tan VOLKSWAGEN Group has appointed Norbert Prelne as director (VW brand) for the Asia-Pacific region. Mr Preine, who joined the group in 1978, has been responsible for sales and marketing for the region since 1997. He has moved from Wolfsburg, Germany,
        69 words
    • 264 15 OBITUARY THOMAS Chua, the last founding family member to leave Cycle Carriage Ltd (CCL), died last Friday, aged 68. Son Timothy said Mr Chua succumbed to pneumonia after corrective surgery for an intestinal ailment. He spent 50 days in hospital and was lucid until the
      FILE PHOTO  -  264 words
  • Page 15 Advertisements
    • 14 15 For the latest open market value rate* of passenger cart, go to 2 oMV^sp
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    • 131 15 Live Seafood Await Yoo! LARGEST LIVE SEAFOOD MARKET BREATHTAKING VIEW DELICIOUS CUISINE Over an area of 50,000 square feet, able to house Dine in any of the 4 different restaurants'with their more than 2,000 persons. distinct while enjoying the mesmerisinq grandeur of the old Turf Club both indoors outdoor^ •MODERN
      131 words

  • PERSONAL investment
    • 869 16  -  JAMES GRANT presents the case for an interest-bearing asset that doesn't go down JAMES GRANT I WRITE in praise of cash, the interest-bearing asset that doesn't go down. Admittedly, it doesn't go up, either. The average taxable money-market mutual fund yields all of 1.3 per cent, at
      869 words
    • 903 16  -  imarkets Lam Chang is only firm buying back shares; fnnds buy into Metro, Roly, Osim By Robert Halili The writer is managing director of Asia Insider. He is assisted by Ngia Soon Choi AFTER closing in positive territory for 10 consecutive weeks with an
      903 words
    • 716 17  -  Funds industry likely to expand at a lower-than-expected 24% a year, with increasing amount coining from CPF funds. GENEVIEVE ctlA reports GENEVIEVE CUA BERMUDA Trust has moderated its expectations for the unit trust industry here, pegging the most likely growth rate at 24 per cent
      PHOTO BY ARTHUR LEE  -  716 words
  • Page 16 Advertisements
    • 257 16 ■a—«_ T 1 k A Wi i I A T i 1 W m 1 fa I AJII■ 1 i I H m A A m I I Iml9Ki•l 1 LM I I Ik A J A A IL A k, M J, y jHB^ Distributed by: stsss&ssia cflibank qdbsbank
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  • Page 17 Advertisements
    • 790 17 f A heart-warming gift from JOBIN Studio Line. 1 Swiss-made Music Box of precision craftsmanship, serenade your love with ever-lasting value. mk A Dedication To Everyone JD3INH Jflß ARTS AND CRAFTS Trade Enquiry 4 Welcome JOBIN STUDIO LINE Hotline: 1800-800-2337 (toll-free) No. 23 Ann Siang Road, Singapore *****3 Open from
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    • 1175 17 15 QUEEN TAN CHONG TOWER, SINGAPORE *****7 FAX: 6336 4677 MOBIIE BERNARD 9487 8898 OFFICE HOURS MON-FRI 9AM-6PM; SAT: 9AM 3PM IN THE MATTER OF THE COMPANIES ACT, CHAPTER 51 SEABANC CREDIT PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the Company convened and held at
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    • 198 17 IN THE MATTER Of THE COMPANIES ACT, CAP SO ANO IN THE MATTES OF FHS MARKETING PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308{ 1) of #»e Compare** Ad, Cop 50, that a Final Meeting of the Members of the
      198 words

  • EXECUTIVEmoney
    • 625 18  -  A change in mindset and strategy is due with retirement on the horizon. GENEVIEVE CUA reports GENEVIEVE CUA INVESTORS should take a leaf from big pension funds which invest regularly in markets through ups and downs, with a long horizon and an eye on
      625 words
    • 348 18 'IF you go into the market to make a quick killing that's too bad. You get burned. It's bound to happen, so you might as well go to the races. If you go with a long-term objective, you'll have ups and downs. I've
      348 words
    • 651 18  -  comment YOUR MONEY How about mandating no tales charges for CTF-induded products for a start? genevieve cua THE recommendations of the Economic Review Committee subcommittee on the Central Provident Fund, relating to the enhancement of returns on CPF savings, are good
      651 words
  • Page 18 Advertisements
    • 148 18 Never Before A Golden Opportunity To Turn Your Dreams Into A Reality m tampines Pl 4 Land Parcel: Tamplnea PI 4 Location: Tamplnea Regional Centre Site Area: 1988.1 eq m Sfc&s. Propoeed Development: Commercial Leaee Term: 12 yeare TENDS) DETAILS "tooder Packets: I Avaiable at $100/- (inclusive of GST) during
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  • SHIPPING TIMES
    • 261 19 Reuters THE Baltic Dry Index (BDI) shed two points to 1,002, the Baltic Panamax Index (BPI) down one point to 1,021, the Baltic Handymax Index (BHI) slipped one point to 7,507 and the Baltic Capesize Index (BCI) was down four points to 1,150. Tian Shun Hai (built 2000)
      Reuters  -  261 words
    • PORTShots
      • 93 19 (SINGAPORE] Floods have derailed box trains connecting to India's Jaw aha rial Nehru Port, leaving thousands of containers stranded at both inland depots and the port itself. Local news reports say more than 5,000 containers were stuck at both JNPT and P&O Ports' facility,
        93 words
      • 156 19 [SINGAPORE] The Belize Registry will charge an additional 10 per cent penalty on all outstanding taxes after Aug 16 after getting fed up with "chasing owners for long overdue taxes". Describing the existing "one-off 10 per cent penalty" as "no more than a cheap form of
        156 words
      • 118 19 [SINGAPORE] Hapag Lloyd will expand its liner network in Latin America, adding a new fortnightly service linking the east coast of South America with Mexico and the US coast on the Gulf of Mexico. Just last year, the line entered the market between Europe
        118 words
    • 233 19 Jg£> v.;....■ rggggp JMM W V- 1W CWT Dhtribotton_0 J4 unctt 0 Ckum Hue o.42 OJX no C—co irwwtumW—0.22 unctt 50 ftattttLM* 006 0.01 5 G8HoWtno» 0.82 -0.01 9 JayaHotdfigs 024 041 2W MpprtCorp 4.14 004 >94 W«pp»M>rtw 0.18 unctt 125 KamtTato 0.99 *0.01 3 Ufcroy Marin* 028
      233 words
    • 527 19 Booming growth likely to affect further HE'S share of mainland traffic Reuters [SHENZHEN] Driven by China's soaring export growth, container traffic at southern China's booming Shenzhen ports is expected to rise by 20 per cent this year to six million units, exceeding
      Reuters; REUTERS  -  527 words
    • 194 19 [SINGAPORE] Singapore's Pacific International Line (PIL) has boosted direct connections on its AsiaSouth/ West Africa (SWA) service by adding calls at Incheon, South Korea and Qingdao and Shanghai, China. Responding to customer demand, the expanded SWA service has added three vessels, boosting the
      194 words
    • 194 19 Reuters [SHANGHAI] Chinese port operator Yantian Harbour Co Ltd, which has a container terminal venture with Hutchison Whampoa, said profit in the first half 0f2002 rose more than 50 per cent year on year. The company gave no reason for the surge, but analysts said
      Reuters  -  194 words
    • 310 19  -  It will be able to handle about 80 cruise ships a year from 2006 By] Beth Jinks [SINGAPORE] Vietnam's renewed efforts to build tourism were given a boost last week, with the recommencement of plans to construct a US$5 million cruise terminal in
      310 words
    • 829 20  -  STRAIT TALK I -By\ David Hughes AS you read this. International Chamber of Shipping (ICS) secretary general Chris Horrocks should be setting off for Panama. His task is to do battle with the Panama Canal Authority (PCA) over its planned fee
      REUTERS  -  829 words
    • 180 20 PAOC Gemartram 4 A *ant 10 6LM 10 rtMgkUs S BSA 6 Hangl. 4 BSC io Hamburg-Sue) S BTl 10 Heu*-A 3 CMAC6M 3 *MUm 10 COSCO 3 HUAl 10 Central Ei 4 Hyundai 4 Chahayi 10 Mo« 9 CMMSDM 5 I"*** 9 Confer 10 Mcnsia t
      180 words
    • 14613 24 THEBUSINESSTIMES EXPORT ETA ETA A**rtt»r v«s« Voyag. Telephone ETA ETA Adwltwr ve»* Voya* Telephone SJN Destn Name Name Num&ef Number SIN Dwt'ri Now Name Number Number 2t/o? w/o« mol apl iris mw ********** To ABIDJAN (ABJ) 2003 Cot* D'lvoirw 26/07 17/00 CMA CGM JAMES RIVER BRIDGE 02W *****57*00
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    • SHIPS IN PORT
      • 431 29 Vtswl Voy No Borth AnivX Depart urt JR|M A UWMCI J***** JU 17/07/*****0 17/07/*****9 izm JO 17/07/200*00 17/07/202*00 *Sl A6602 *7 17/07/***** 17/07/2017:00 AHAMT1S 7 A799 J02 17/07/20*00 O/07/2006J0 *™A JW703 J02 17/07/*****0 17/07/*****9 lArSWATOlO £2172 J02 17/07/2017:30 17/07/*****9 IAYSWATI»22» M2172 J02 17/07/*****0 17/07/20*30 IT GUM J 2
        431 words
      • 1390 29 CONTAINERS TERMINAL AMP VESSEL SCHHHftgS Out in —IM Mr* Viyif ¥■>■■■ I n-illin —fcr 1 Agcowri tam tosan iicwana-mp mnaaawjb «om»—u* cmw osai itotocbiimd nx > *a WW* sxnn oosw norooanw wmrxaiGMO »w»m mp« t—wooi oia kmoobmmd M— 1 005*1 0BM( 1M7Q0BMSa> 1MHOOBMMO K8 rnmmt oot m immoaMtooi
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      • 366 29 Cam m Hn nu oj m.4 0.07 n 0.03 •M4 Owftv Mr MOm ininiiiiw ti—m No*ow£25 0 o o o o a 380 Aw 9818 0.2 M.I 0.06 33 0.02 tmm 380 Ha 990.7 0.9 18.9 0J5 124 0.06 /lrl »Mi %HW mm* IHOmC35 0 0
        366 words
      • 166 29 Ml 7 South Korea: Constitution Day Japan: Marine Day Mao Japan: Marine Day Jal 21 Belgium: Belgian Nat Day a*l Switzerland: National Day AagO UK: Bank Holiday (Scot) AagO Singapore: National Day Aagl2 Thailand: Queen's Birthday Amg IS Belgian: Assumption Day France: Assumption Day Italy: Assumption Day South
        166 words
      • 747 29 THIS report compiled by Cockett Ma rine Oil Ltd. shows price ranges In US dollars Instead of single prices for a more comprehensive description of the market Prices shown are baaed on averagesiaed stem. Market movements are indicated. The Cockett Bunker Price Index change and the
        747 words
    • AIR & LAND transport
      • 288 30 Airline's twice-weekly service not commercially viable Reuters [NEW DELHI] Britain's Virgin Atlantic Airways will stop flying to India from August and end its code-share arrangement with flag carrier Air-India, a spokeswoman for the Indian airline said yesterday. Virgin Atlantic, which launched operations
        Reuters  -  288 words
      • 232 30 Bloomberg [NEW DELHI] Indian Airlines said it plans to lease as many as six Airbus SAS A 320 jetliners to help make up for delays in winning government approval for a purchase of 43 single-aisle jets. "The government is yet to give its
        Bloomberg  -  232 words
      • 585 30 Analysts say passenger load hit by safety fears Reuters [HONG KONG] China Southern, the mainland's largest airline, said yesterday that passenger traffic in June slipped for the first time in five months because Chinese travellers stayed at home watching the World Cup.
        Reuters; FILE PHOTO  -  585 words
      • 460 30 Bahrain aviation anthorityblameB combination of factors in report AFP [MANAMA] Human error on the flight deck, combined with flaws in Gulf Air's organisationaL management and training systems, were to blame for the crash of the airline's flight 072 in August 2000
        AFP  -  460 words
      • 33 30 [HEATHROW] A British Airways Concorde is towed to a hangar at London's Heathrow after landing safely with 59people on board The Diane yor* i JFK Airport, REUTERS
        REUTERS  -  33 words
      • 308 30 Reuters [SYDNEY] Australia's Macquarie Airports said yesterday it had ended a recent shopping spree and planned no further acquisitions or capital hikes following the purchase of a slice of Rome's Aeroporti di Roma (AdR) for A 5542 million (*****.7 million). MAp managing director Kerrie
        Reuters  -  308 words
      • 1668 30 Fuair iu rwt n> iktti bh 1*779 2305 MM* IMTT1 MB IC4571 655 ****** 2305 agio S***** 1555 *****0 2305 Hattrtm S023 0605 KL030 2225 W *J 6*975 1025 Of* M20 IH9766 2350 *U37 wo mm —Bif —i TO sowo m toOHM uim ~mo 1*90* 2020
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    • 45 19 Ml^BB I ,J Debate on Panama Canal 'i'' hl a Oi .1m 1 iMl^ fee hike set for Friday i;o iiiini in, •> V I I I i 1 V n I. i i {i o i;o r- T oP.«I ln<lh iOi vioo I ••'x.V;*- Jj
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    • 53 20 WORLDGATE EXPRESS LINES PTE LTD yj\ 180 ©•<* #16-03/04, Bangkok Bank BuMng, S*por» *****6 Tel: *****911 Fax: ***************63 Email: vwgateOmbox2.singneLcom.ag WEBSITE: httpSAvww. woridgate. com, sg WEEKLY FCL LCL SERVICE TO FOLLOWING PORTS'^ iijjF niH IS"""" iwwwm |PH \LSL_ IcwmcowG/wMA mi EBB iJtK 17/y (ALQnH 20/07 in—uum miiiw. lu 'r I""**
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    • 463 20 wrviow wpr— *>J by yof Mwntwi of WKpW Aocrdtod Shipping Singapore Logij»icj yjy Singapore Shipping AModalion Awociqtion W ULY UNK MALI pr m IB IB r.miK wm am PrioceMUly 0602 19/07 20/07 28/07Emprwiliy 0502 04/06 03/08 11/08 PrincwsLity 0702 19/08 20/08 28/08 ULY MAMNi SERVICES PTK LTD I IwwwpqitMftgai.Kuwin—ic— I
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    • 1193 21 MIW DIRECT CALL FROM S'MHf 10 «d. 17* w cmusmmiitrnin ll* IwwmSm>/u m:^ /tt I BDCBMBi»jJ.WiJ«i I ano lIWMHM m;»n* hmmmr munts/ot mms7m 4lJ»sh»/m I ££*»«,< s» %W?%S* 2S */W IV* M Itv I 522SJP2L 2£ vm OUR- MM *11 lyw- iw :i* n/v wv n WWf/WE ft/W CDSCD QKDfIC
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    • 489 23 I UK CONTINENT SERVICE I Loading tor OCEAN OLYMPIC RDM/ATW/BMNAJK/NAN I STARLING ROM/ATW/BMN/UK/I4AN H Loads Singapore. E7W Matayra. mrtni.j— I MIDDLE-EAST SERVICE Loackng for ASPILOS JDH/AQA/DMT FAVOfVTA DBI/ABU/DOH/BRN/DMM/KWT AGIOS NECTARtOS CW/ABUAXHVBWVDMM^WT TRADER DBI/ABU/DOH/BRN/DMM/KWT PETROS R ADN/HDO/JDH/AQA OR HAN EKINCI DMT/JDH/AQA j loads Singapore, E/W. M*a»wa. Indontjiaa USA SERVICE J Loading
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    • 540 28 JEW MM— imTit ipHlilii IwSlt maSUM) M4N 7*74/07 30-01/01 0447/00 I iwarwi w» *-17/07 0704/01 09 IQ/M I TKBMMf m* 30-11/07 04-01/01 13-14/W I TKBSHAH ttW 0703/01 Mll/00 lU7/00 I IWBW|^^0OIII»k«/0l^lllVM_2O^l/0l| Iyreai VOT gw waajß osl iiliflphWv MM I AOOHB 331 14-27/07 0305/00 1314/00 I JJUJ" *01 01 02/01 00
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    • 741 28 VOT MAPW PORTIHAOG OfTUGOMC KONGU "a no nA no iu no OC HOOOIM *****3 W 10/07 20/07 20/07 14/07 IS/07 MOWING *****5 541 20/07 22/47 22/07 K/il i 707 1 OCMMTT *****4 INU 25/07 H/07 5707 M/ 07 i)7ii 1 OCUM *****1 UJ 27/07 20/07 20/47 n/ty Ji/M 1 lOC
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    • 903 28 I May I I U£, 1 ||i|C3 Uft nL«-*»MSSS WJLW-4m-«7I I I %J%m |MMWttrUJmOO !T-L OSWIIHMVtt TCLW-tni-SW MLOI-4227-4IW I 6tsIAIIG wu «JOO 2m li/o; on m? n/47 gum 2152 23/07 «**s mi n/v «SWB 2274 23/17 GK* 2204 14/07 OUMI 221* 20/07 CUM 2239 21/17 BBMI M asm* wis 25/17
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    • 154 28 *T*****i rciol!•'j\i >' B RREAKMAK A CONVENTIONAL SERVICE DHSCT SBTVKZ FROM STORE TO KARACHI Imsa vomi n>swg>wti muuoi vm rwm ovw/w Ist l \hm *vmm ti^r <-*** SEA-PAC MANAGEMENT PIE. LTD. 70 Anaon Rood #17-07/00 A|mk Tmmt, fcgif"' *****5 T«MwnK 6270 0977 ranjnJr 0275 2309 T«IMB RS ***** SCAT AC
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  • Page 29 Miscellaneous
    • 128 29 <).v T' 11 "1 > /im __iL—.—-I—4 LEGEND: Issued by Meteorological Services Division, NEA R Thunderstorm A Showers Rain emperature Op/ wind direction and speed in knots Cloudy Day Wea,her U cx Hazy Wind speed symbols Sea Conditions O Pull circle w/o line indicates calm or light and variable winds
      128 words