The Business Times, 13 May 2004

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Total Pages: 26
1 26 The Business Times
  • 16 1 THE BUSINESS TIMES MITA (P) 023/03/2004 Internee r.i p:/'bi'oiness-times.asial .com.sg SINGAPO RE THURSDAY, MAY 13, 2004
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  • 646 1  -  He'll reconsider if it tips offer; he also defends bank's own preferential offer From Siow Li Sen in Bangkok TEMASEK Holdings' offer for United Overseas Bank's shares in United Overseas Land was "too cheap". That, said UOB chairman Wee Cho Yaw, was why the
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  • 770 1  -  NEWS analysis Petrochemical giant leaning towards Saudi venture, delays joint study with Shell on S'pore cracker By Ronnie Lim C HILLING news this week that Japan's Sumitomo Chemical appears to be favouring a planned Saudi petrochemicals venture over a Singapore one, is
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  • 78 1 1,802.17 (-1.22) ST INDEX FUTURES 1,810.00 (+7.00) nsvmsci mm 219.08 (-0.25) SIMSCI FUTURES 218.80 (-0.50) Wednesday Change KLSE COMP 818.72 +856 NIKKEI 225 11,***** +246.40 HANG SENG 11,528.18 20.09 SET INDEX ***** +191 JAKARTA COMP —744.29 +26.03 MANILA COMP 1,540.96 +3170 TAIPEI WPI 5358.79 +7143 SEOUL COMP 817.09 +26.07
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  • 77 1 FOREX RATES U8$ S$ IJSS (SS per ISS) 1714 1l(ISS/S$ |ht 1.763 8.022 El RO(l S$/S$/E). 1.187 2.034 YEN 112.7 65.70 KM 3800 2.217 HKS 7.800 4.550 BAIIT 40.46 23.60 Rl'I'IAH 8,953 5.22:1 RENMINBI 8.299 4842 INDIAN RUPEE 45.37 26.47 AS 1.429 0.833 NZS 1.632 0.952 PRIME RATES SINGAPORE
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  • 1104 1  -  Counter rises 7.5C on heavy volume of 97m shares By Kenneth Lim [SINGAPORE] Just as the United Overseas Land saga sparked speculation about whether tycoon Oei Hong Leong would move on the Wee Cho Yaw stable of companies, the shrewd trader swooped
    FILE PHOTO  -  1,104 words
  • Page 1 Advertisements
    • 55 1 ■As a banker for 45 years, I've overseen 1 five acquisitions in Singapore and two iL outside Singapore.! Jk 9 4 A Wee Clio Yaw, talking about UOB's Sib deal to buy Bank of Asia V W FULL REPORT, Page 3 Merger of DBS, UOB not so far-fetched j HOCK
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    • 71 1 UThe legend reveals another dimension m\\ H revolves majestically to reveal its unique dual personality. On one side, the large date and 8-day power-reserve. The reverse, in sapphire crystal, displays the complicated mechanical movement. Jaeger-LeCoultre calibre 875 that makes this a major event in the Reverso's history. <Jaeger-leCoultre> >e copy
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  • NEXT page
    • 654 2  -  Transitional period to reduce capital requirement extended by a year By Angela Tan [SlNGAPOßE] Global bank regulators yesterday agreed to a sweeping overhaul of how banks should set aside money to protect against unforeseen risks, putting Basel II back on track with
      654 words
    • ON THE grapevine
      • 85 2 THE Swedish army, faced with flabby male recruits, is looking to women to give it more muscle. "It's a fact that many men of military-serving age are in worse shape today than was the case earlier, so in order to get the most qualified person for
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      • 132 2 REUTERS news agency reports that "buy high, sell low" summed up Wall Street's advice last year on Intel shares. "The analysts were wrong, completely wrong," said Marshall Front, chairman of Front Barnett Associates, an investment company that has about 2.1 million Intel shares. "And these
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      • 99 2 THIS has to be the ultimate in spam an e-mail sent from your own address field instead of the usual ang moh types like Raphael Atkins, Joy Warner or Diane Snow. The subject is "Great Collections". And many people are bound to open it out
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    • 253 2  -  Compiled by Reuters PILLAR ONE: Capital Adequacy Minimum capital requirements will be recalculated by assigning a risk weight to assets in a way that should more accurately reflect a bank's credit risk profile than the simple approach used today in Basel I. Banks can
      253 words
    • 362 2  -  But govts mast be clear why they want to develop the industry By Teh Shi Ning [SINGAPORE] Gaming consultants say another casino in South-east Asia is feasible, but governments looking to develop the industry must be clear about why they want to do
      AFP  -  362 words
    • 642 2  -  3-year commitment part of plan to develop ICT market By Amit Roy Choudhury [SINGAPORE] The Infocomtn Development Authority of Singapore (IDA) and IBM Singapore yesterday announced several initiatives to build the infocomm capabilities of Singapore's information and communications technology (ICT) industry. Called the
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  • Page 2 Advertisements
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    • 7 2 C.A.T.S. Buy It. Sell It. Find It.
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  • SINGAPORE companies
    • 890 3  -  HOCK lock siew quak hiang whai THE takeover saga at Wee Cho Yaw's United Overseas Land has spawned enough conspiracy theories for another Oliver Stone movie. For its part, surprise bidder Temasek Holdings has made clear that its intentions are "pure" and that
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    • 544 3  -  Bank paying ABN Amro 9.6% premium to closing price on Tuesday From Siow Li Sen in Bangkok A TRIUMPHANT Wee Cho Yaw yesterday announced that United Overseas Bank had sealed a $1 billion deal to buy the Bank of
      544 words
    • 541 4  -  Charges relate to interest in and sale of shares held in trust account Reports by Serena Ng FAILURE to give notice of an interest in shares of Datacraft Asia held in a trust account and their subsequent disposal landed former director Koh
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    • 424 4 REGIONAL communications and networking systems integrator Datacraft Asia yesterday posted sequentially higher net profit and sales for its second fiscal quarter, but the modest earnings left analysts and the market unimpressed. The mainboard-listed group chalked up net profit of US$l5B,OOO in the three months
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    • 217 4  -  By Andrea Tan HONG KONG billionaire Li Ka-shing's Fortune Reit has posted a distribution per unit (DPU) of 8.64 HK cents, or an annualised yield of 6.78 per cent, based on yesterday's closing price. This exceeded Fortune Reit's own forecasts by 9.3 per cent "The
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    • 481 4  -  Australian casino outfit sells shares for Sesdaq listing By Kenneth Lim IN the clearest sign of its readiness to accept companies from new and different industries, the Monetary Authority of Singapore yesterday gave the green light to investors betting on Singapore's first casino
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    • 326 4  - Cosco Corp's Q1 profit hits 11m on high charter rates By Chen Huifen BUOYED by higher charter rates and income from associates, shipping services provider Cosco Corp turned in a record Q1 profit of $11.4 million for the three months ended March 31. The sterling performance more than three times
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    • 376 9  -  Production in China to be ramped up, to meet stronger US, Europe demand By Chen Huifen SOFA maker HTL International yesterday reported a 52 per cent year-on-year jump in net profit to $7.7 million for its first quarter ended March
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    • 289 9 Bloomberg BILLIONAIRE investor Richard Rainwater has acquired a 13.6 per cent stake in Global Crossing, the Ber-muda-based fibre optics network operator controlled by Singapore's ST Telemedia. Mr Rainwater used U5524.4 million in personal funds to buy 2.61 million shares between March 17 and May
      Bloomberg  -  289 words
    • 274 9  -  Stockbroker reports Q1 profit of $29.1m By Serena Ng SINGAPORE'S largest listed stockbroking group UOB-Kay Hian Holdings chalked up net profit of $29.1 million for the first quarter of 2004 as turnover more than trebled from a year ago to $113.2 million. The robust
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    • 260 9 SINGAPORE Airport Terminal Services (Sats), which last month was identified by Senior Minister Lee Kuan Yew for possible divestment by parent Singapore Airlines, yesterday announced a top-level reorganisation. Karmjit Singh, currently chief executive of Sats Airport Services, will assume the newly-created post of chief operating officer
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    • 135 9 HONG Leong Asia, the manufacturing and distribution arm of Hong Leong Group Singapore, reported a net profit of $17.2 million for the first quarter of 2004, up 16 per cent from a year ago. Group revenue was up 11 per cent to $521.3 million
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    • COMPANY Briefs
      • 88 9 PRECISION plastic component supplier Tech Group Asia has acquired the remaining 30 per cent stake in its Chinese subsidiary, Chi Wo Plastic Moulds, for HK$25O million (5554.9 million). Half of the purchase price will be paid in cash through bank borrowings on
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      • 52 9 QAF's Ql group net loss narrowed by 2 per cent to $2.4 million. Net revenue decreased 32 per cent to $139.2 million as the group sold Shop N Save in November last year to Dairy Farm group. A reduction in commodities trading also caused the
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      • 54 9 FOOD Empire Holdings, the maker of Mac Coffee, yesterday posted a 34.8 per cent increase in Ql group net profit to $3.9 million as a result of stronger sales in key markets of Russia, Eastern Europe and Central Asia. Group revenue rose 26 per
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      • 67 9 TRANSPORTATION and engineering company Labroy Marine reported a stellar 40 per cent surge in net profits to $8.6 million for its first quarter ended March 31. This was on the back of a 46 per cent rise in revenues to $84.3 million, thanks to
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  • Page 3 Advertisements
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  • 4314 4 UNIT TRUSTS FUNDS Com S'pore Bond Fuid/ A 1.097/ Credit Agricole Asset Mgt S'pore Ltd ASN Amro Asset Mgt (S'pore) Indocam Asa Vision!** 1.013/1 06* StarEirope Eqty!" 0.72V MS Asset Mgt Star Eirope Bond U2/ Shorten Twin City U6H .315 Star Eirope 8af 1.024/ japan Growth! 0855/0895 Star Asian Tigs
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  • Page 4 Advertisements
    • 113 4 Drake Executive Search provides you with the expertise to match quality executives Professionals and Managers from middle to senior management positions, within your industry Our consultants bring a wealth of experience, assisting you in your search for the highest calibre of professionals and managers while allowing you to remain focused
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  • Page 5 Advertisements
    • 421 5 I Canon I I work more I I INTELUGENTLY. I I DONT GO INTO I I THE OFFICE TODAY. I H COME TO THE CANON IQ SHOW 2004. H Meritus Mandarin Singapore, Level 5, South Tower, Mandarin Ballroom, 333 Orchard Road, Singapore *****7 13th May 2004,10:30am-6:oopm, 14th May 2004,10:00am-6:00pm BH
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  • SINGAPORE markets
    • Article, Illustration
      622 6  -  Compiled by VEN SREEMVASAN CapftaCommercial Trust (CCD May 12 dosing: $1.12 CAPITACOMMERCIAL Trust (CCT) began trading on the Singapore Exchange yesterday. We initiate coverage with a NEUTRAL rating and target price of 550.895, implying an annualised FYO4 yield of 7.0 per cent (based on a 95 per cent
      Source: Bloomberg  -  622 words
    • 262 6  -  HOT STOCK WARRANT By Ven Sreenivasan RAFFLES Medical is a company which has started showing strong growth potential. The medical group has become increasingly prominent over the last one year following the Severe Acute Respiratory Syndrome pandemic. Besides receiving and treating non-Sars patients who
      Source: Bloomberg  -  262 words
    • 537 6  -  BT comment STOCKS r. sivanithy WHEN your fortunes are dictated by a market on the other side of the world and in a different time zone, it means you have almost no control over the investment decision-making process, which is reduced to an exercise in
      Source: Bloomberg  -  537 words
    • 643 6  -  BT comment CURRENCIES larry wee THE US dollar corrected lower from recent highs in overnight trading, but it was not enough to erase fears that it could still have some wind left in its sails. By the close, the US unit had given back
      Source: Reuters  -  643 words
    • TRADES TO WATCH
      • 72 6 THE executive chairman of GES International, Goh Lik Tuan (above), yesterday sold 700,000 more shares in GES' listed distribution arm, Digiland International, on the open market, but price details were not given. The sale reduced Mr Goh's direct stake to 8.4 per cent from
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      • 132 6 TWO directors of plastics group Avaplas yesterday converted options into shares. Chairman and CEO Boone Quek Howe Sear exercised 1.08 million options at 23 cents or 22.65 cents each, raising his direct shareholding in the Sesdaq-listed company to 45.28 per cent from 44.84 per cent. Executive
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      • 71 6 AN executive director of King's Safetywear, Yeo Loy Kiang, bought 100,000 shares from the open market, raising his direct shareholding to 450,000 shares or a 0.21 per cent stake. He acquired 30,000 shares on May 7 at 27.5 cents each and 70,000 shares on May
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      • 64 6 ONE of Sim Lian Group's executive directors, Kuik Sin Pin, yesterday bought 128,000 shares of the construction group at 28 cents apiece. The open market purchase raised the director's stake to 0.73 per cent, or around 1.9 million shares, from 0.69 per cent. Shares
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      • 66 6  -  Compiled by SERENA NG THE chief executive officer of Challenger Technologies, Loo Leong Thye, on May 10 bought another 50,000 shares in the computer and IT products retailer at 16.5 cents per share. The open market purchase raised his direct stake to 42.44 per cent
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    • Article, Illustration
      420 6 OTHER SINGAPORE INDICES May 12 VALUE CLOSE BTOB/OS -571.00 +135.00 BTCAW -*****.00 -13.00 BT 10-day MA -*****.00 -57.00 All-SG Equities 484.26 -1.90 SG Equities Elect 161.42 -1.53 SG Equities Fin 1487.23 -1.06 SG Equities Prop 401.74 -2.53 SIMSQ 219.98 -0.25 SiMSa Futures 219.80 -0.50 Stocks Volume Informatics 5c 96,834,000 Wee
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  • Page 7 Advertisements
    • 35 7 BPllpi#"-' I '-t m A N Infocomm+lnnovation Q ef^vely'in Jointly Organised by: j s i ®j ,s B Singopor* info<omm I Jsjjp |j| .3" .jS?,;J Jcil^HH^^^^l and Research ciwr i dadt I Singapore SINGAPORE Singapore
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  • BLUE chips
    • 761 8  -  If Q2 results fail to show the expected earnings rise, it could be hit by a round of downgrades. WONG WEI KONG reports WONG WEI KONG SO, SembCorp Industries has disappointed with its first-quarter earnings. But will things get better for the
      Source: Bloomberg  -  761 words
  • Article, Illustration
    1074 8 Transaction date: May 12 DITERBAlfg CROSS RATES AS C$ Bmb Euro HK$ Ind Bs Bupiah Y»n Won BM HZS Pak Bs Peso S$ Band Sfr NT$ Baht Pound US$ Australia 0.%9 5.809 0.590 5.460 31.756 62.668 0.789 8.270 2.660 1.143 40.390 39.097 1.200 4.786 0.909 23.450 ***** 0.397 0.700
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  • Page 8 Advertisements
    • 1175 8 GOODWOOD PARK HOTEL LIMITED AND ITS SUBSIDIARIES (Incorporated in Singapore) HALF-YEAR RESULTS ANNOUNCEMENT I UNAUDITED HALF-YEAR RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2004 1. Income Statement Group Qrpup 01/01/2004 01/01/2003 01/10/2003 01/10/2002 to to to to 31/03/2004 31/03/2003 31/03/2004 31/03/2003 $000 $'000 $000 $'000 Revenue Hotel operations 24,643
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  • Page 9 Advertisements
    • 793 9 Call toll-free 1800 289 8822 In The Matter Of The Companies Act, Cap. 50 And In The Matter Of E-MAX TRADING PTE LTD Notice of Creditors' Meeting Pursuant To Section 296 Of The Companies Act, Cap. 50 NOTICE is hereby given that pursuant to Section 2% of the Companies Act,
      793 words
    • 288 9 IMOKIA Connecting People Personalise and print your I jjß^HS*nfelvouritepictures. at your fingertips. IHH| HHHh s mokuJ li M nokia IKHH ma Hk iH mr** jija »K RH i .j i BR' B ■SvStS* l,*s _i s jki s *i M NOKIA NOMA HHHHK M 1 I b*.vß .< Take the
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  • EXECUTIVE suite
    • 292 10 It's 6th consecutive monthly foil as property market cools after interest rate hikes AFP [SYDNEY] The number of new home loans approved by Australian lenders fell 1.2 per cent in March, the sixth consecutive monthly fall, official figures showed yesterday. The data supports
      AFP  -  292 words
    • 639 10  -  GARDENER'S log By Thien WE have grown accustomed to things that go bump (on our patio roof), even at night. But a soft, cascading sound, like seeds slowly spilling out of a grain bag, got wifey and I puzzled the other day. The first, we know,
      PHOTOS BY THIEN  -  639 words
    • 302 10 THE first industrial site has been released this year and is now open for application. The 0.5 hectare site at Alexandra and Leng Kee roads is expected to fetch about $4.7 million or $35 per square foot of potential gross floor area.
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  • Page 10 Advertisements
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      461 words
    • 229 10 ORCHARD RD 1? BPCOAUSTSHPGCTR f JU Am Of iO UOL BLOG ©rvycDQCT B St Thomas Walk DEVONSHIRE RD EXETER RD Plot A (N0.26): 7,904 sq ft 1 Total vV, COMCENTRE > o Plot B (N0.22): 21,227 sq ft J 29,131 sq ft Zoned Residential, plot ratio 2.8, itggq up to
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    • 60 10 1 VSTLS"H j i r <• r r < S U P I '< i M O -L Y I N I i A N U l> l u I 1 I I, r j t v .1 j l I .i 't,i. i 1 M t ii q 1
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    • 132 10 Releasing a financial statement? Call 1800 289 8822 or email notices@sph.com.sg to book your advertisement in our newspapers now. I Why resort to tedious searching when you can have a readily available landmark building 1 I to serve the needs of your entire business operations? 365,000 sqft of warehouse, I
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  • SINGAPORE news
    • 451 11 It responds to allegations about fiscal policies, ministers' pay THE Ministry of Finance yesterday issued a rebuttal to an article in the weekly business magazine Far Eastern Economic Review, saying it contained "factual inaccuracies and wilful distortions". Contributor Dan Fineman had attacked Singapore's
      AFP  -  451 words
    • 330 11  -  By Joyce Koh LOCAL businesses can expect a stronger regulatory environment with the official launch of a new statutory board yesterday. The Accounting and Corporate Regulatory Authority (Acra) operational since April 1 with the merger of the Registry of Companies and Businesses
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    • NEWS Roundup
      • 84 11 WESTERN Union Financial Services, a top player in the money transfer services business and a subsidiary of US-based First Data Corp, has announced a strategic tie-up with India's Vijaya Bank to provide inbound money transfer services in India. The service will be available at
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      • 55 11 ELECTRICITY provider PowerSeraya yesterday sealed a deal that provides it "back-up gas" should its existing gas supply be disrupted. The supplier is Gas Supply Pte Ltd, with which it had inked a deal in 2001 for gas supply from Jan 1,2006. The back-up contract runs
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      • 73 11 THE Land Transport Authority yesterday announced a scheme to enhance construction safety at rail and road projects. It will award an additional 0.5 per cent of the contract sum, up to $1 million, to contractors who maintain a good safety performance. Conversely, it will deduct
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    • 514 11  -  Delegation includes ministers, senior officials By Loh Hui Yin DEPUTY Prime Minister Lee Hsien Loong will visit China today at the invitation of Chinese Vice-Premier Wu Yi. The five-day visit will begin in Beijing, where he will meet Chinese president Hu Jintao, National
      514 words
  • Page 11 Advertisements
    • 116 11 m HHBHI A -is r ,lK*'' hhbbksbihiib m t® I l( II 1 KfcY MIDDLEWARE IS IBM SOFTWARE. Powerful software like Tivoli* DB2* and Web Sphere* Open, behind-the-glass technology that can automate it all j 1. Automatic overview of operation. L 1 x IBM, Microsoft" Oracle, Sun. Problems are foreseen
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  • EDITORIAL & opinion
    • 795 12  -  THE bottom line OPINION harish mehta THE giant American corporation spearheading the development of genetically modified (GM) food and growth hormones is suddenly under fire in several countries. First, Monsanto announced a 50 per cent cutback in the sales of its GM bovine
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    • 55 12 'He was finally tripped by the realities he was either afraid, or too complacent, to tread: grinding poverty, farmers preferring death over debt, development schemes more virtual than real.' -The Indian Express in an editorial, on why Chandrababu Naidu, chief minister of Andhra Pradesh state, lost his
      55 words
    • 560 12 EDITORIAL Although the counting following the Indian general election is not yet over, this much is almost certain from early trends: India will end up with a hung Parliament and yet another coalition government —probably one with an even slimmer majority than in the last Parliament
      560 words
    • 1109 12  -  Note that the implications of a rise in price coining from reduced supply are different from those coining from increased demand By Caroline Baum Bloomberg IT didn't take long. No sooner did US job growth disappear as a stumbling block to
      Bloomberg; AFP  -  1,109 words
    • 499 12  -  COMMENTARY How much longer can China keep Taiwan out of global bodies? By Dennis V Hickey LAT-WP ONCE again, China is gearing up to block Taiwan's annual bid to rejoin the World Health Organization (WHO). For Taipei, the stakes are high. Taiwanese medical authorities are unable to
      LAT-WP  -  499 words
  • Page 12 Miscellaneous
    • 229 12 CRYPTIC CROSSWORD 27 to change monu^ ments that we find in 8 Could be pink or black, but ined Turkish city (4) churches (5-5) definitely feline (10) YESTERDAY'S SOLUTION DOWN 11 With a vehicle (European) YESTERDAY s SOLUTION 1 Once a measure nronnri. waiting, she looks after the Across: 1
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  • REGIONAL news
    • 430 13 JAKARTA It tells three or four banks not to fish in muddy waters Reuters INDONESIA'S central bank has issued a "very strong warning" to three or four banks over speculation in the rupiah, which suffered sharp losses in recent days, its chief said
      Reuters  -  430 words
    • 836 13 TOKYO They expect India to rival China but infrastructure woes hold back investment Reuters JAPANESE companies with a stomach for risk are eyeing India in hopes the south Asian giant may rival China as a low-cost production centre and booming market.
      Reuters  -  836 words
    • 414 13 BANGKOK AFP, AP [BANGKOK] Thai Prime Minister Thaksin Shinawatra said yesterday that chances for a Thai purchase of a one-third stake in English soccer club Liverpool are only "50-50" and that he would not engage in a bidding war with a British businessman who
      AFP,; AP  -  414 words
    • 354 13 HONG KONG THE Indonesian government is laying the groundwork for the sale of its remaining minority stakes in four banks in a move that could raise more than US$6BO million and further advance the privatisation of the country's financial sector, Financial Times reported
      AFP  -  354 words
    • NOTE Book
      • 101 13 Reuters [SHANGHAI] China's central bank will expand open-market operations from once to twice weekly starting today, strengthening its ability to guide its fast-growing economy to a soft landing. China is the world's sixth-biggest economy but lacks the raft of sophisticated tools employed by more developed
        Reuters  -  101 words
      • 74 13 AP [BANGKOK] Opposition parties have filed an impeachment motion against Deputy Prime Minister Wan Noor Matha, a spokesman said yesterday. Wan Noor, the second Thai minister to face impeachment proceedings this year, is targeted for being "unusually rich and concealing assets", said a spokesman for
        AP  -  74 words
      • 65 13 AFP [KUALA LUMPUR] Malaysia Airlines may impose a passenger fuel levy to offset the impact of rising oil prices on its operating margins, a report said yesterday. Chief financial officer Low Chee Teng told The Star newspaper that the national carrier is "seriously considering" imposing
        AFP  -  65 words
      • 69 13 Reuters [TOKYO] Credit rating agency Standard Poor's yesterday lifted its outlook on Indonesia's long-term sovereign credit ratings to positive from stable. It also affirmed Indonesia's B/B foreign currency and B+/B local currency sovereign ratings. "The outlook revision reflects continuing progress in macroeconomic stability, evident from
        Reuters  -  69 words
      • 84 13 AFP [SYDNEY] Australians have been named in an Al-Qaeda manual as the main targets for terrorist attack in Indonesia, it was reported here yesterday. The Australian newspaper said the 11-page manual specifies which foreign nationals to target in Muslim nations, such as Americans in Saudi
        AFP  -  84 words
      • 81 13 Reuters [HONG KONG] In a show of support, Beijing has decided to buy Hong Kong government bonds, Chinese Premier Wen Jiabao said yesterday. Hong Kong, which has been repeatedly hit by recession since the late *****, is struggling to make a comeback and the
        Reuters  -  81 words
  • Page 13 Advertisements
    • 447 13 F»RTU N E (Results for the period from 1 Jan to 31 Mar 2004) llSiiitDtlT d IVLI I -Jb;: Distribution Outperformed Forecast 1 by 9.3% Fortune REIT 2004 Q1 Results (1 Jan to 31 Mar) Actual Forecast 1 Variance i£ Income available for distribution 41.0 37.5 +9.3% (HKsm) Distribution per
      447 words

  • WORLD news
    • 427 14 LATEST US INDICATORS Rising imports of consumer and capital goods reflect robust US demand Reuters, AP [WASHINGTON] The US trade deficit widened a surprisingly large 9.1 per cent in March to a record US$46 billion as a strengthening world economy
      Reuters,; AP  -  427 words
    • WORLD Watch
      • 66 14 Reuters [NEW YORK] Citigroup Inc, the world's largest financial services group, yesterday said it will buy Principal Financial Group Inc's mortgage servicing business, bolstering its position as one of the country's largest mortgage providers. Principal estimated proceeds from the transaction will be US$l.26 billion, including
        Reuters  -  66 words
      • 66 14 LAT-WP [WASHINGTON] Lockheed Martin Corp said on Tuesday it has agreed to sell its satellite telecommunications services business to Intelsat Ltd for US$9O million. The sale of the business, called Comsat General, nearly completes Lockheed's dismantling of an expensive foray into commercial satellite services. Comsat General
        LAT-WP  -  66 words
      • 90 14 AFP [PARIS] The merger of NBC and Vivendi Universal Entertainment was finalised yesterday, creating a new media giant, NBC Universal, its parent companies General Electric and Vivendi Universal said in a joint statement. The new group, 80 per cent owned by GE and 20 per
        AFP  -  90 words
      • 104 14 Reuters [BERLIN] Airbus parent EADS reported a 52 per cent jump in first-quarter operating profit yesterday but it fell short of forecasts as its defence business made a bigger-than-expected loss. EADS said its forecast for the year remained intact, with revenues seen at 29
        Reuters  -  104 words
    • 410 14 WASHINGTON AFP, Bloomberg THE US Senate has approved a massive tax reform scheme that aims to bring the US into compliance with a World Trade Organization ruling and to end hefty trade sanctions by the European Union. The Senate approved US$l7O billion in corporate
      AFP,; Bloomberg  -  410 words
    • 601 14 LONDON Reuters, AFP, AP OIL prices burst to new 13year highs above US$4O a barrel yesterday on concern that the Organisation of Petroleum Exporting Countries (Opec) may not pump enough oil to meet accelerating world oil demand. Adding to the market's
      Reuters,; AFP,; AP; AFP  -  601 words
    • 481 15 NEW YORK The fair value of an asset or liability at a given date will become the basic guide for recognising revenue Reuters GLOBAL accounting standard setters have made significant progress towards comprehensive guidelines on how and when firms should recognise revenue, officials
      Reuters  -  481 words
    • 447 15 SAN FRANCISCO NYT CISCO Systems, the maker of Internet networking equipment that is considered a technology bellwether, reported a quarterly profit on Tuesday that narrowly exceeded investor expectations. But it gave Wall Street a broader reason for optimism by suggesting
      NYT  -  447 words
  • 1603 14 SICOM FUTURES MayU RUBBER FutufM (Closing prices) RSS1 (S ctntsAg) Close Volume Open Month Hkjh Low Sett (tonnes) Interest Jim 04 231.50 Jul 04 230.75 Aug 04 231.25 Sep 04 230.25 Oct/Dec 04 230.25 Jan/Mar 05 232.00 RSS 3 (US cants/kq) Volume Open Month High Low Sett (tonnes) Interest
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  • Page 15 Advertisements
    • 1263 15 I Notices LINDETEVES-JACOBERG LIMITED NOTICE IS HEREBY GIVEN that the Fifty-Sixth Annual General Meeting of the Company will be held at 238 A Thomson Road, #24-06/08 Novena Square Office Tower A, Singapore *****4 on Friday, 28 May 2004, at 10.30 a.m. to transact the following business:AS ORDINARY BUSINESS 1. To
      1,263 words
    • 988 15 /^POKKA^| f J xmmtix h POKKA CORPORATION (SINGAPORE) LIMITED (Incorporated In The Republic of Singapore with limited liability) NOTICE IS HEREBY GIVEN that the Annual General Meeting of Pokka Corporation (Singapore) Limited (the "Company") will be held at The Japanese Association, Ballroom 3, 120 Adam Road, Singapore *****9 on Friday,
      988 words

  • 4955 16 Transaction date: May 12 HONG KONG Vol HK Exchanges Clearing..16.25 0.25 3779 HKS '000 HKR Int'l 2.25 -0.08 2669 Hong Kong Electric 32.70 unch 6400 Aeon Credit 4.80 -0.20 20 Hongkong Chinese 0.98 0.02 762 Aeon Stores 5.25 0.10 4 Hongkong Chinese Ltd *0.98 0.02 762 Alpha General
    4,955 words
  • 2541 16 Transaction date: May 12 KUALA LUMPUR GeneralSoil 1.26 unch 0 Vo1 Genting 15.30 unch 1208 RM *1- ('000) George Kent 0.84 -0.01 29 Globetronics Tech 0.66 unch 0 A M Realty 1.60 0.06 43 GlomacBhd 2.79 unch 278 Abftc 0.64 unch 75 Gold Bridge Engrg 0.47 0.02 378 ACP
    2,541 words
  • 847 16 Transaction date: May 12 W Oeee Omrngt Mut mmm Wl dw O—a AHgreen50c 0.31 0.995 +0.010 NOL 1.53 1.950 -0.010 ML Intl US20C 037 0.710 -0005 OCBC 913 12.100 -0.200 CapitaLand 0.97 1.310 -0.040 Parkway H 25c 0.59 1.140 +0.060 Chart SemlCond 26c 1.21 1.430 -0.010 People's Food HK50C
    847 words
  • 746 16 BONDS WARRANTS T«l Last Vol Com Eur Out E Mths Codt Cowpmy Sab *cr- C«Ot) Mo Ma lug Left 3779 ASLMarineHldgsW*****1 15 unch 38 1 53 33 3.40 47 3698 ASTIW*****1 37 unch 17 1 16 3 1.39 1 3697 Acma Ltd W*****6 .0.5 1 50 621 14.00 6 3602
    746 words
  • Page 16 Advertisements
    • 37 16 if B am recommendations. Thi;I)1'si\i-:ssTi\ii;s IUIhH I The P a( 5 es d,so cover transactions by directors and substantial shareholders. I W mom I Ik 8 KB B a J in other words, news you can use.
      37 words

  • 7081 17 Transaction date: May 12 52-Wk Tel Last Vol Day Last Quote GrOtv Wv GrYkt Net MCao low Code Company Sate I'OOO) High tow Buyer Sailer Cvr fit Smd 57.9 329 5834 A Sonic 5c 37.5 83 38 37 37 37.5 5 N97 0.7 13.3 127 8 5300 ABNAmroNLG
    7,081 words
  • 72 17 TH Last Vol Day Last Quote GrOrv Div GrVM Net MCap Higb low Codt Company Sate W- (HOO) High Low »uy«r Sdter Cm WE hnS 2060 2000 6065 Diamonds US2060 2120 9800 6095 IS DJ US Tech US3740 6097 IS MSCI Spore US555 6101 ISS&P500 US8270 ***** 9650
    72 words
  • 1896 17 n-Wfc M Last Vol Day Last Quote GrtXv Dtv GrYW Met MCap Low Co4t rnwpn Sate W- COOP) Hij» Low hytr Sdhr S Cw HE £5 26 10 5000 ABRHIdgsSc 14 +1 3 14 14' 14 15.5 27 42 15 2101 APOiISc 29 -0.5 27 29 5 29
    1,896 words
  • 343 17 52-Wk Td Lact Vol Day Last Quote GrOiv On GrYW Net MCap Urn Cod* Cinqnm 5d« W- COOB) low fciyr Sofcr Cw Hi Wi 228 118 6000 AVJennings A25c A208 +1 67 209 208 208 210 40 8.8 4.8 7.9 447 7 6001 Cathay Pac20c HK720 V 265
    343 words
  • Page 17 Advertisements
    • 59 17 aS& Ajdemars Piguet Le maitre de I'horlogerie depuis 1875 M m J jj f Regional Agent. Showroom Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. Cortina watch I 501 Orchard Road #03-10/11 Wheelock Place Singapore *****0. Tel: 6238 6678 Fax: 6238 6676. Espace Boutique MiUenia Walk Tel: 6339 1728 internet: http://www.audemarspiguet.com
      59 words
  • BizIT
    • 315 17  -  By Raju Chellam THE next time you receive an e-mail from a bank asking for personal information, don't respond without first checking with the bank by phone. Because if you do reply, you could have your identity stolen by "phishers" cyber-thieves who pretend to
      315 words
    • 176 17 Reuters [SAN FRANCISCO] A flaw in Microsoft Corp's almost universally used Windows operating system could allow hackers to take control of a PC by luring users to a malicious website and coaxing them into clicking on a link, the company warned on Tuesday. Microsoft issued
      Reuters  -  176 words
    • 695 18  -  BT exclusive Software can yield millions in savings, reports Tang Weng Fai Tang Weng Fai BUSINESS intelligence (BI) software has come of age. Once a niche application for businesses, it can now yield tangible benefits for companies to the tune of millions of dollars
      ARTHURLEE  -  695 words
    • 771 18  -  IT comment INFOTECH The insidious software may be present in as many as one in 10 computers in Singapore raju chellam IF you thought spam was a small scam, get ready for the real damn. It's loosely called spyware. It creeps in surreptitiously, like a
      771 words

  • Page 18 Advertisements
    • 224 18 LONG LIVE DREAMS 5,000 free KrisFlyer miles the first time you use the Card. 50% more KrisFlyer miles all the way*. People who carry the American Express" Singapore Airlines KrisFlyer Gold Credit Card get to places fast. Hardly surprising when you learn that with 50% more KrisFlyer miles, they earn
      224 words

  • SHIPPING TIMES
    • 623 19 Oil-tanker operator keen to offer broader range of services Bloomberg [OSLO] Teekay Shipping Corp chief executive Bjorn Moller, who has spent more than US$3.5 billion in five years to build the world's biggest oil-tanker operator, said the company may make more acquisitions to offer a
      Bloomberg; FILE PHOTO  -  623 words
    • 202 19 Reuters [HONG KONG] China Shipping Container Lines (CSCL) may push back the roadshow for an IPO worth up to US$2 billion by one to two weeks in the hope of better market conditions, sources said yesterday. "Given the weak sentiment towards China stocks, I
      Reuters  -  202 words
    • 78 19 AFP [MONTEVIDEO] At least 80 people were treated for ammonia inhalation after an explosion aboard a South Korean ship docked in the port of the Uruguayan capital, fire officials said. The cause of the blast, which occurred at about 2 am on
      AFP  -  78 words
    • 296 19 SGX '000 May 12 SS W- Vol CH Offshore 0.37 -0.01 1143 Chuan Hup 0.50 -0.01 626 Cosco Investment 0.76 -0.01 ***** CWT Distribution 0.51 unch 0 Ezra Hldgs 0.95 -0.03 284 Freight Links 0.10 -0.01 234 GB Holdings .0.74 unch 11 Java Holdings 0.75 -0.02 1160 K1
      296 words
    • AVIATION news
      • 672 20 Airline has vowed to avoid Chapter 11, but high costs threaten its long-term viability [ATLANTA] Delta Air Lines, battling with its pilots' union over its effort to cut labour costs, said on Monday that it might have to seek bankruptcy protection unless
        BLOOMBERG  -  672 words
    • 105 20 PAGE Austral AL 5 Bank Line 4 BSA 4 B'tang Mas 6 CMACGM 3 COSCO 3 China Shpg 5 Crocodile Line ....4 CWTGlobelink ...4 Deimas 4 Dongnama 3 ECL 3 Foong Sun 5 Gemartrans 4 Hamburg Sud 3 Hangli 4 Heung-A 3 IRISL 5 Kyowa 5 KMTC
      105 words
    • 7232 24 THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Name Name Number Number SIN Dest'n Name Name Number Number To DURBAN (DUR) 2118 South Africa To ABIDJAN (ABJ) 2003 Cote D'lvoire 20/05 02/04 HamburgSud UNI PROMOTE 04IW 65-*****133 21/05 29/06 CMA
      7,232 words
    • SHIPS IN PORT
      • 527 25 Vessel Voy No Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL BAYSWATER338 E4118 J3 A/SIDE 13/05 0200 CARINVENTURE 062 J8/9 A/SIDE 13/05 0100 SS BRIDGE V003 J14/15 A/SIDE 13/05 1100 SEA BARON 71 J7 A/SIDE 13/05 0600 WINSTAR 7 12E4W J2 A/SIDE 13/05 0300 ATLANTIS 7 A7191 J3 13/05 1000
        527 words
      • 1750 25 CONTAINERS TERMINAL AND VESSEL SCHEDULES Vessel Out In Bth Berthing Un- Berth Name Voy Voy seq berthing Nmbr ABU DHABI C294W C294W 1 15/05/2004-1 S:00 16A)5/2004-03:30 ACX LILAC 065N 065N 1 15/05/2004-15:00 16/05/2004-03:00 ACX SAKURA 030S 030S 1 16/05/2004-15:00 16/05/2004-22:00 ADDIRIYAH MN63 MN63 1 15/05/2004-18:00 16/05/2004-03:00 AKINADA BR
        1,750 words
      • 138 25 May 17 Norway: National Day. May 20 Belgium: Ascension Day. France: Ascension Day. Germany: Ascension Day. Indonesia: Ascension Day. Netherlands: Ascension Day. Norway: Ascension Day. Sweden: Ascension Day. Switzerland: Ascension Day. May 24 Canada: Victoria Day. May 26 HK: Budha's Birthdy. S.Korea: Budha's Birthdyh. May 30 Germany: Whit
        138 words
      • 809 25 THIS report, compiled by Cockett Marine Oil Ltd. shows price ranges in US dollars instead of single prices for a more comprehensive description of the market. Prices shown are based on averagesized stem. Market movements are indicated. The Cockett Bunker Price Index change and the individual
        809 words
      • 560 25 180 M». 989.7 0.6 *W 0.06 36 054 a Dtiwt r mter Btttdut AihAlumlniurn Sediment *&°ve -2i-2 ——1 IlZS! unmum.nmm jeo Ave 986.6 0.2 13.7 0.05 26 0.0* t*Z 380 Mai 994.4 O.r 17.8 0.07 66 0j05 tutfi %W M/M S n/» m mtteo Ho above
        560 words
    • AIR & LANDL.rcI.U.%%I
      • 54 26 [SYDNEY] Firemen run hoses underneath a Qantas plane as more than 300 airport, emergency and health services personnel are involved in an emergency exercise at Sydney Airport yesterday. The exercise, which involved the closing of one of the airport's runways, was a full-scale practice for an emergency situation
        REUTERS  -  54 words
      • 513 26 Q1 net income up 75%; firm optimistic on hitting 20% profit increase this year Bloomberg [PARIS] European Aeronautic, Defense and Space Co, Europe's largest aerospace company, said firstquarter profit rose 75 per cent after it sold more Airbus planes and cut costs at
        Bloomberg; AFP  -  513 words
      • LOG Book
        • 138 26 Reuters [OSLO] Budget airline Norwegian Air Shuttle yesterday said that its yield, a key measure of performance for carriers, fell in April from the previous month due to rapid expansion of routes. Norwegian estimated its April yield, or average revenue per passenger carried and kilometre
          Reuters  -  138 words
        • 127 26 Xinhua [SHANGHAI] British airline company Virgin Atlantic Airways expects rising sales in China by expanding its ticketing network through cooperation with a Chinese company, a top official said on Monday. Steve Ridgway, CEO of the British company, said his company's cooperation with China Civil Aviation
          Xinhua  -  127 words
      • 548 26 Travel recovery helped net income hit 62m euros Bloomberg [FRANKFURT] Deutsche Lufthansa, Europe's third biggest airline, reported a first-quarter profit compared with a year-earlier loss, helped by growing demand for air travel and a one-time gain from the sale of a
        Bloomberg  -  548 words
      • 2116 26 cm mew no fucw m> MalaMa LH9771 1840 8*7382 2215 D b- $0427 0730 EK405 0210 S0230 1840 0F82 2215 MM "431 0325 6<-*r*. S023 QMS 6*974 0130 S0428 2325 KL837 1450 K1838 2255 tM3 $024 2345 FrMktart AC9951 0630 LH9765 1345 mm niUT 7 r
        2,116 words
      • 241 26 These include engines of Boeing 747-200 aircraft stalling in mid-flight Xinhua [JERUSALEM] The Israeli airline El A 1 is investigating a series of serious flight-safety incidents, including engines stalling in mid-flight, Israel's Haaretz reported on Monday. The incidents involved the engines of 747-200 aircraft, the
        Xinhua  -  241 words
  • Page 19 Advertisements
    • 102 19 EADS profit soars on Delta higher Airbus sales considere -wckwo' fengtcT iiinfMiiifi survive it financial crisis f fHW immi WE THANK YOU FOR YOUR SUPPORT AND ENDORSEMENT, ONCE AGAIN. ■■■MPFg 1 mm —TJfna UTT, m m 1 -7 Tf t 18th Asian Freight Supply Chain Awards 4 f V. -V
      102 words

  • Page 20 Advertisements
    • 654 20 I IMPORT ~1 NORTH AMERICA AUSTRALIA/NEW ZEALAND I la»«iMM| iMLM ■> m «p*w%g|Bfttf BUPBI BHUI iix EXrRcSS PSX) [AUSTRALIA ASIA EXPRESS (AAX) VESSEL VOY LGt WG T—~H VESSEL VOY INI SYD MEL AOL ERE SIN KG PtO NEDUOYD SOUTHAMPTON 41W17 28/04 16/05 18/05 PtO NEDUOYO KOWLOON 37WU OS/05 23/05 25/05
      654 words
    • 528 20 Lines services represented by Member! of rtw el®!.-) Aco«M Shipping Agenly -=jjr S '"9°P»™ Lo 9" hc \n.y Singapore Shipping Association ssociotion ULY LINE MAU VESSEL VOY ETA ETA ETA A P. KLANO SPORE MALE Maid Star 548 14/05 19/05 28/05 Kota Teroju TRJQBI 27/05 07/06 Princess 0404 06/06 08/06
      528 words

  • Page 21 Advertisements
    • 738 21 MOL Combines a range of shipping modes to ensure timely, reliable services covering major ports in North America, Europe, Japan, Asia, Africa Oceania. Also accopt Intra-Asia Cargoes to: BUSAN KWANGYANG SHANGHAI YANTIAN XIAMEN QMGDAO BELAWAN J JAKARTA SURABAYA KAOHSWNG BANGKOK lAEIH CHASANO HOCHMWH PASIR GUDAHG PCNAWG PORT KBAN6 For Schedules,
      738 words
    • 1501 21 GENERAL AGENTS IN SINGAPORE: 1* umKOIIAY #34-01 SALES/BKGS TEL: *****657/43 FAX: 6238 5321/24 COSTAR SHIPPING PTE LTD hongleongbuilding CR NO. **********0 M SINGAPORE *****1 INWARDffVO) *****786 *****319/49 JQHOP-SQme* TEL 6226 1 TOO (MAIN) T/SHIPDEP *****825 *****316/46 JOHORS OFFICE. v CONVENTIONAL *****850 *****208 COSTAR AGENCIES (H) SDN BHD TEL 07-353 8166
      1,501 words

  • Page 22 Advertisements
    • 1267 22 i WX WAN HAI LINES 1 Tel: 6226 1588 Fax: *****163 Hfc I 'V' <■ '"T INTRODUCING:- NEW WEEKLY EXPRESS SERVICE TO: eureka ROTTERDAM HAMBURG ANTWERP 1 'J|_ CALLING SIN EVERY Saturday i < r*l'Vl > For more details, call HOTLINE: 6226 1588 1800-*****00 L NOjrTRANS SH |pp )No AOKNCIES
      1,267 words
    • 680 22 BSAx MYANMA PQ, FIVE STAR UNE (Mvanmar National Lint) Loading for Yang on VKSft VOY SIN PKL PEN PCU PAGAN 328W SU> HPA-AN 320W SID SU) IN MAUYSIA: IOUSTEAD SHIPPING AGENCIES KUU 03-*****300 PKL 03-*****101 PEN: 04-*****02 usammm Mi ACCEPTINB CONVENTIONAL CBO VESSEL VOY HUG SIN PGU PKL KUC SUNNYHEAKT
      680 words

  • Page 23 Advertisements
    • 1458 23 I VESSEL VOY SIN PKL DXB BAB PMM BIK CHABAHAR IKHORRAMSHAHRI IRAN TEHRAN PCL36B 16/05 SKIP 25/05 26/05 02/06 04/06 06/06 08/06 IRAN SATTARI PCLBO3I 21/05 22/05 30/05 31/05 08/06 10/06 12/06 14/06 IRANSHAHRYAR PCLBO33 29/05 30/05 07/06 08/06 15/06 17/06 19/06 21/06 IRAN ISFAHAN PCL37I 06/06 07/06 15/06 16/06
      1,458 words
    • 483 23 4 k UK CONTINENT SERVICE Loading for ATERMON RTM/ATW/BMN/UK/NAN KEELUNG RTM/ATW/BMN/UK/NAN Loads Singapore. E7W. Malaysia, Indonesia MIDDLE-EAST SERVICE Loading for VTC STAR DBI/ABU/DOH/BRN/DMM/KWT J FRIEND HDD/JDH/AQA J SAFE DBI/ABU/DOH/BRN/DMM/KWT •Loads Singapore, EVW. Malaysia, Indonesia USA SERVICE Loading for SPLIT CAM/NOL/NFK/SAV/TPC FALCON TRAVELLER VCW/LAX/MZL 'Loads E7W. Malaysia, Indonesia F.E./S.E.A. SERVICES S
      483 words
    • 668 23 _msii m m m vessel m w no PACBANDA 1207 M 12/05 13/05 MATARAM EXP Jfifii lAZfli 11/fii PACBANDA LZfifiM 11/05 14/05 AiAMJAYA 2 Utt \hM \SM PA( lANDA 1209N 15/05 16/05 ""AN 2244 211/05 22m WCIAMPA ml 17/05 17/05 ALAMJAYA 2 8897 23/05 25/05 m um mm 18/05 PAC
      668 words


  • Page 25 Miscellaneous
    • 123 25 1 REGIONAL WEATHER BEESf FOR 7AM 13 May 2004 Issued by Meteorological Service Division.NEA LEGEND: Thunderstorm Wind speed symbols 'v Showers O Full circle w/o line indicates calm or light and variable winds R a j n One half fleche represents 5 knots Cloudy Day One full fleche represents 10
      123 words