The Business Times, 25 May 2004

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Total Pages: 26
1 26 The Business Times
  • 16 1 MITA (P) 023/03/2004 850 THE BUSINESS TIMES SINGAPORE I httn;/ ouF.ness-times.asial .com.sg TUESDAY, MAY 25, 2004
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  • 917 1  -  BT exclusive Tenants complain of job-hopping, rocketing wages By Loh Hui Yin [SINGAPORE] Call it a victim of its own success. As it becomes a magnet for foreign investments, the Suzhou Industrial Park is bedevilled by job-hopping, rocketing wages and a shortage of
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  • 74 1 STI 1,779.79 (+12.56) ST INDEX FUTURES 1,777.00 (+20.00) SIMSCI 217.17 (+1.10) SIMSCI FUTURES 217.60 (+1.30) Monday Change KLSECOMI' 794.39 »2.86 NIKKEI 225 11,101.64 +31.39 HA.Mi SENG ll.Wi2.M7 +86.96 SET INDEX G4I8.MI -6.51 JAKARTA COMP 732.58 .7.65 MANILA (OMI> 1.481.91 -3.05 TAIPEI WPI 5.942.08 -22.86 SEOILCOMP 799.64 +13.28 SHENZHEN B
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  • 79 1 FOREX RATES US$ S$ I'SS (S$perl SS) 1.716 t(l'SS/SS per V) 1.786 3.064 EI'R()(1 T SS/SS/E). 1.1% 2.052 YEN 112.5 65.60 RM 3.800 2.215 HKS 7.794 4.542 BAHT 40.73 23.74 RI'PIAH 9,102 5.304 RENMINBI 8.299 4.8:10 INDIAN RI I'EE 45.37 20.44 AS 1.430 0.837 NZS 1.040 0.959 PRIME RATES
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  • 831 1 Lack of unanimous Opec decision to raise output set to unnerve market [NEW YORK] Group of Seven industrialised powers may find their rhetoric is powerless to rein in rising oil prices, analysts have warned. On Sunday, finance ministers
    AFP photo; Source: Bloomberg  -  831 words
  • 229 1  -  They also agree to double investment fond to RM10m From Eddie Toh in Kuala Lumpur MALAYSIA and Singapore will help spur the setting up of a private sector driven business council and double the size of an investment fund following the
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  • NEXT page
    • 501 2  -  China, South Korea will contribute much of the growth By Raju Chellam [SINGAPORE] Asia's market for online gaming is set to cross US$l billion as early as next year, with much of the growth coming from China and
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    • 608 2  -  Standard 92-octane fuel in Singapore hits US$50.50 highest in 11 years By Tang Weng Fai [SINGAPORE] Pump prices are expected to jump in about two to three weeks, with the price of a barrel of standard 92-octane fuel
      608 words
    • ON THE grapevine
      • 194 2 WHEN Bollywood's "superhumans" descended on Singapore at the weekend, they were hard to miss. Indeed, Orchard Road was virtually littered with them. When a local Indian couple saw a popular actress-cum-activist at a shop in Far East Plaza, the husband humbly asked: "Excuse me Madam Shabhna Azmi, do
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  • Page 2 Advertisements
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    • 22 2 Recruit the one you want for any position you have Call 1800 289 8822 or email recruit@sph.com.sg for your recruitment solutions 9
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  • SINGAPORE companies
    • 637 3  -  Stocks at risk of sliding further if fuel prices do not fall back: analysts By Yen Sreenivasan SHARES of leading Asian carriers recovered slightly in the wake of Saudi Arabia's call to boost oil production over the weekend, but remain significantly below
      637 words
    • 391 3  -  SGZ's first gaming stock rises 51%, breaking IPO trend By Kenneth Lim INVESTORS who bet on Lasseters International Holdings played their cards right when the Singapore bourse's first casino operator rose 51.1 per cent on its debut yesterday, breaking the recent streak of poor listing
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    • 717 3  -  HOCK lock siew wong wei kong SHOULD Keppel Corp continue with its divestment of Singapore Petroleum Corp (SPC)? Arguably, no. To be sure, Keppel has already taken a major step in divesting SPC in October last year when it sold a 28 per cent stake
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    • 449 4  -  Capita Mall Trust will fund purchase with 147 million new units By Andrea Tan AFTER a year of speculation, Capita Land is finally selling Plaza Singapura to its shopping mall trust, Capita Mall Trust, for $710 million in cash and shares. Capita Land, which
      449 words
    • 212 4 LOCAL businessman Quek Chek Lan has emerged as shareholder of Teledata gJS§gi&pofe), following Intraco's divestmensr#£jk 29.9 per cent stake last week. .>. Mr Quek, who was the executive chairman of Startech Electronics for several months last year, said in filings to the Singapore
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    • 386 4  -  $8.1m earnings on the back of 7.2% rise in turnover By Ven Sreenivasan IMPROVEMENT in operating margin, contribution from its newly acquired China operations, and better cost management enabled mainboard-listed air logistics specialist Air cean Group to lift its fullyear net profit by 30 per per
      FILE PHOTO  -  386 words
    • 392 4  -  By Ven Sreenivasan CLOB-TRADED Australian property developer AV Jennings Homes lifted its fullyear earnings by 21 per cent to A 568.5 million (5581.5 million) on a 5 per cent rise in turnover to A 5552.5 million. AVJ, which is 41 per cent controlled by
      392 words
    • 239 4 WEARNES International has reported a 12.8 per cent rise in interim net profit to $6.9 million on turnover of $255.3 million. Wearnes said the 52.9 pei» cent increase in turnover was due to higher sales in the automotive and equipment sector,
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    • 215 4  -  By Taila Krishnakumar GLOBAL financial services firm JPMorgan yesterday announced the appointment of veteran banker Philip Lee as chief executive of JPMorgan Southeast Asia. Mr Lee, a Singaporean with 15 years' experience in corporate finance and advisory services, has been JP Morgan's
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    • 4314 4 UNIT TRUSTS FUNDS Indocam Asia Vsion!" 1.003/1.054 DBS Asset Mgt AM Amro Asset Mgt (S'pore) Shenton TwmGty 1 24/1 295 Star Europe Eqty!** 0.72V JapanGrowth'** 0875/0915 SttEi/opeBond 1.229/ Mendaki Cap Pro fd 0981/ Star Europe Bal 1.03/ Shenton Thrift!" 1 96/2 04 Star Asian Tiger Eqty 0.831/ Shenton Income 1405/145
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    • 1173 5  -  NEWS a nalysis Sceptics doubt China's No 2 fixed line provider will bay plodding HE Telecoms From Ray Heath in Hong Kong SOME children have train sets to play with. Richard Li, grown-up son of Hong Kong's top tycoon Li Ka-Shing preferred a
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    • 311 5  -  By Kenneth Lim THE catch got bigger for frozen seafood provider Pacific Andes Holdings in FY2004, when net profit rose 23.3 per cent to HK$9O.3 million (5519.9 million) on the back of China's ballooning appetite for fish. The results represent the fifth
      FILE PHOTO  -  311 words
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  • Page 5 Advertisements
    • 167 5 A PERFECTLY PACKAGED WELCOME TO BEIJING -pf SI JLA IraBBMI Rates from USsl49* are Perfectly Packaged with breakfast and Mercedes-Benz airport transfers Indulge yourself in the luxury of Beijing's most centre location at the heart of Beijing and prepare to distinctive hotel and discover the magnificent blend of be embraced
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  • SINGAPORE markets
    • Article, Illustration
      584 6  -  Compiled by VEN SREENIVASAN CerebOS, May24ck»e:s2£3 NET profit came in at $38.5 million versus our expectation of $32 million. The impact of the avian flu on Q2 results was not as severe as expected. Health supplement's (Brands liquid and tablets) profit before interest and tax (PBIT) rose 26
      Source: Bloomberg  -  584 words
    • 283 6  -  HOT STOCK WARRANT B y Ven Sreenivasan AS expected, Australian property group AV Jennings Homes Ltd has posted a 20 per cent or so jump in net profit for the year ended March 2004. And while the stock closed 15 cents down at
      Source: Bloomberg  -  283 words
    • 542 6  -  BT comment STOCKS ven sreenivasan A SHARP recovery in US stock futures and soothing words from oil giant Saudi Arabia helped lift the gloom from the Singapore market and its regional peers yesterday. After kicking off on a tentative note, Singapore stocks
      Source: Bloomberg  -  542 words
    • 665 6 AFP Bloomberg [TOKYO] The US dollar was mixed in Asian trade yesterday as the market shrugged of a weekend statement by G-7 finance ministers urging oil producers to boost output to help lower surging prices, dealers said. Trading was largely technical, although the yen
      AFP; Bloomberg; AP  -  665 words
    • TRADES TO WATCH
      • 75 6 THE managing director of Tat Seng Packaging Group, Low See Pong, sold two million shares in a private placement at 23 cents a share. The sale reduced his direct shareholding in the paper packaging specialist to 36.41 per cent, or around 57.2 million shares.
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      • 70 6 THE managing director and CEO of Ezyhealth Asia Pacific, Sin Keng Choo, bought 200,000 shares of the healthcare IT solutions provider on May 21 at 5.5 cents each. The open market purchase raised his direct shareholding in the group to 23.44 per cent, or around
        70 words
      • 69 6 ARISAIG Partners' Asean Fund raised its direct shareholding in Asiatravel.com Holdings to 10.42 per cent from 9.49 per cent on May 20 after open market purchases of 1.79 million shares at an undisclosed price. Arisaig emerged as a substantial shareholder of Asiatravel earlier this year.
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      • 83 6 FLINDERSLANE Asset Management, which bought a 16.65 per cent stake in NTI International from a share placement earlier this month, on May 20 raised its shareholding in the IT systems provider to 17 per cent following an open market purchase of 505,000 shares. Flinderslane
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      • 116 6  -  Compiled by SERENA NG TWO directors of plastics group Avaplas have sold the bulk of their stakes to Japanese group ARRK Corporation, which has made a general offer for the Seadaq-listed company. Wong Vee Tong, an executive director, accepted ARRK's offer of 28 cents per
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    • Article, Illustration
      427 6 OTHER SINGAPORE INDICES May 24 VALUE CLOSE BT OB/OS -47.00 +427.00 BTCAD4 -*****.00 +118.00 BT 10-day MA *****.00 4.00 AJI-SG Equities 478.71 +3.56 SG Equities Elect 160.00 +0.91 SG Equities Fin 1449.71 -7.31 SG Equities Prop 399.66 +1.73 SJMSCi 217.17 +1.10 SiMSCI Futures 217.60 +1.30 Stocks Volume Lasseters 18c 87.588,000
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  • SMALLcaps
    • 909 7  -  Despite plans to boost yield and cut costs, China Flexible Packaging has to raise its profile to live up to expectations, says JOYCE KOH JOYCE KOH IT'S said that good things come in small packages. But for China Flexible Packaging (CFP), they come in plastic
      FILE PHOTOS  -  909 words
    • 344 7  -  By Teh Hooi Ling SMALL capitalisation stocks finally shook off their six-week losing streak. Our small-cap portfolio gained a strong 5.6 per cent in the five trading days to yesterday. It beat the UOB Sesdaq Index's rise of 2.4 per cent. It also exceeded the performance
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    • 28 7 </> I 5 Q A section which offers news and views, jjZi reviews and previews from the world of high tech, Bthe internet and the World Wide Web. I
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  • FOCUS property
    • 676 8 Because of the currency peg, HK rates will rise too; S'pore less affected Reuters [BANGKOK] HONG Kong's rejuvenated property market is likely to feel the pinch of a rise in US interest rates more than elsewhere in Asia because its currency
      Reuters  -  676 words
    • 284 8  -  By Andrea Tan CHANCERY Court HUDC estate has been privatised and its owners will now be free to sell their units to whoever they wish to. But will they reap the benefits of an increase in price due to their new status? "There is
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    • 320 8  -  Freehold project in Pasir Panjang seen fetching up to $28m By Vince Chong WITH en-bloc sentiment making a comeback, the smallish development of Pacific View at Pasir Panjang Hill is once more up for sale, after an unsuccessful attempt last year. Colliers International is
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  • Page 8 Advertisements
    • 354 8 lE* DeWram ■5Lt2 FOR SALE eNo. 3 Leng Kee Road Semi-detached Part 1 part 2-storey car showroom/ workshop cum office Land area: 1,506.6 sq m 99 years leasehold Sale on "as is where is basis" No. 19 Leng Kee Road 5-storey car showroom cum factory building with basement carpark Total
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    • 239 8 r |gj 2 Mistri Road H555T mrrrmrrrrvrm mmmun -.Jfe. •15-storey commercial building with basement carpark rf tf rllinn •Prime location, off Anson Road/ Shenton Way •Tenure -99 years leasehold flji •Site Area: 14,325sqftapprox. Net Lettable Area: 55,341 sq ft approx. 5 mins walk to Tanjong Pagar MRT gain For Sale
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    • 145 8 lEE Debenham J I Tie Leung 7-storey Strata Warehouse 1 IB n Total Strata Floor Area: 4,229 sq m xce ent building Specifications Sale on "en bloc" basis SjßMj SJB flftfiMn or eby Tender Closing: 23 June 2004, Wednesday, 4pm OCBC Centre East/South Attractive Rents Prime offices Minutes to Raffles
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    • 43 8 V ry our most popular Seafood Kway Teow Beef Kway Teow @$6.9o+++ Served with special black bean sauce Mon-Sun: Lunch from 1130 am onwards For reservations, Please call *****138 #Call (65) 6343 0088 Fax: (65) 6343 0033 HOTEL 401, MacPherson Road, Windsor lOmedbyHoteDevflopmrtsMld'
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    • 185 8 Land 1,500 sq.ft Can build 6 storey South Bridge Road Near OCBC Freehold Enquiries: 96 71 71 71 HORIZON PROPERTIES HOBMSOH C AT.S. Buy It. Sell It. Find It. PACIFIC VIEW Freehold condominium with sea view near NUS and Science Park 48 apartments shop for enbloc sale Strata floor area:
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  • SINGAPORE news
    • 426 9  -  It's just one of many options it has for its stakes in banks across Asia By Siow Li Sen TEMASEK Holdings is not ruling out the possibility of putting all its banking investments, including DBS Group Holdings, into a banking network if it
      426 words
    • 328 9  -  By Chen Huifen THE major shareholder of troubled Synergy Construction, Jurong Axtra, has proposed a payment option to creditors under a scheme of arrangement (SOA) that would give them $2,500 plus 18 to 25 per cent of the balance owed to them. If the
      328 words
    • 378 9  -  EYE on the economy prices By Chen Huifen THE consumer price index (CPI) in April rose 1.3 per cent year-on-year, generally in line with economists' expectations. According to the Department of Statistics, the housing group in the basket of items that contribute to the index
      Source: DOS  -  378 words
    • 96 9 SINGAPORE and China signed an environmental cooperation pact yesterday iij Beijing. The Memorandum of Understanding signed for Singapore by Environment Minister Lim Swee Say and for China by State Environmental Protection Administration Minister Xie Zhenhua is aimed at strengthening existing ties in the area.
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    • 410 9 Reuters [KUALA LUMPUR] Striking a partial world trade deal by July, including key sectors such as farm goods, could cool bilateral rows and stem the global tide of legal disputes, Singapore Trade Minister George Yeo said yesterday. Speaking after meeting his Malaysian
      Reuters; REUTERS  -  410 words
    • 588 10  -  Capture value and yield by holding them for 18-24 months, he says By Taila Krishnakumar IT'S time to get back to the basics. Investors should buy stocks that pay steady dividends and hold them for 18 months to two years, says Guy
      588 words
    • 279 10 THERE may be further delays to the Circle Line MRT rail project as safety checks are carried out at worksites along the line. But the effect of these checks on the completion date will be small. "The key factor that will delay the project
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  • Article, Illustration
    1087 10 Transaction date: May 24 v WW 9 «Tt*r>MMN MSB WMMMNMMNMM aMMMMNMM>" v r^\*^^t!fW»(S v iJfcj«Sfc s MTERBAME CROSS RATES AS C$ Bmb Euro HK$ Ind Rs Ruplah Yen Won RM NZS Pafc Rs Peso 5$ Rand Sfr NTS Baht Pound US$ Australia 0.957 5.780 0.582 5.428 31.604 63.399 0.784
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  • 1629 10 SICOM FUTURES May 24 RUBBER Futures (Closing prices) RSS1 (Scents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Jun 04 237.75 Jul 04 237.00 Aug 04 237.00 Sep 04 235.75 Oct/Dec 04 235.00 Jan/Mar 05 236.75 RSS 3 (US cents/kg) Volume Open Month High Low Sett (tonnes) Interest
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  • REGIONAL news
    • NOTEBook
      • 65 11 AFP [MANILA] President Gloria Arroyo is on course to win the Philippines' presidential election by less than a million votes over her closest rival, film star Fernando Poe, a Commission on Elections official said yesterday. The official said she beat Mr Poe by more
        AFP  -  65 words
      • 59 11 Reuters [SHANGHAI] Bank of Communications, China's fifth-largest lender, said yesterday it was holding talks with HSBC Holding Pic and other potential investors that want to buy a stake in the company. An executive of the Shanghai-based bank denied a weekend Financial Times report
        Reuters  -  59 words
      • 54 11 Bloomberg [BANGKOK] Prime Minister Thaksin Shinawatra said the outcome of Thailand's bid to acquire a 30 per cent stake in Liverpool FC may be revealed as early tomorrow. Thai Deputy Commerce Minister Pongsak Raktapongpaisal is negotiating with the club, which had sought changes to
        Bloomberg; REUTERS  -  54 words
      • 66 11 Reuters [JAKARTA] Indonesia's economy grew slightly more than expected in the year through the first quarter, data showed yesterday. The statistics bureau said gross domestic product rose 4.46 per cent in the year through the first quarter, up from a revised 4.07 per cent
        Reuters  -  66 words
      • 51 11 Reuters [JAKARTA] Indonesia's largest cement maker, PT Semen Gresik, risked having its shares suspended from trade after it said yesterday it faced difficulty in meeting a deadline to file accounts. Gresik has until Friday to submit audited consolidated 2002 and 2003 financial results to the stock
        Reuters  -  51 words
      • 43 11 Bloomberg [HONG KONG] China added 5.4 million subscriptions last month, the Ministry of Information Industry said on its website. The nation had 296 million cellphone accounts by end-April, the government said. That's more than the US' population.—Bloomberg
        Bloomberg  -  43 words
    • 413 11 KUALA LUMPUR Companies leading expansion are mainly in manufacturing MALAYSIA'S Hong Leong group is planning a major push into the China market, The Star reported yesterday, citing analysts close to the group. Currently, the group's only presence in China is through
      413 words
    • 365 11 JAKARTA Move comes after warnings of possible terrorist attacks AFP INDONESIAN police have sent reinforcements to guard a Canadian-operated nickel mine in South Sulawesi province after warnings by Australia and Canada of possible terrorist attacks, a mine official said yesterday. "Reinforcements from the
      AFP  -  365 words
    • 267 11 KUALA LUMPUR It's paying dividend of 2.5 sen per share its first in 4 years Bloomberg MALAYSIAN Airline System Bhd, the country's biggest carrier, said fourthquarter profit more than tripled as faster economic growth increased demand for air travel and freight after
      Bloomberg  -  267 words
    • 83 11 KUALA LUMPUR Bernama MALAYSIA Airport Holdings Bhd will offer a new special terminal for lowcost airlines if demand warrants it, said its chairman, Aris Othman. At peak, many planes would be landing in the Kuala Lumpur International Airport at the same time. "Because of
      Bernama  -  83 words
  • Page 11 Advertisements
    • 68 11 Nominations for the 2004 eso.startup awards are now open Recognising Singapore's New Enterprises To be eligible, a company be a privately-held enterprise •be unc j er 5 years old (from date of incorporation) 20 0 4 have a strong nexus to Singapore have at least 1 year of audited financial
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    • 1561 11 I Notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ANDO ELECTRIC SINGAPORE PTE LTD (IN MEMBERS VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act. Cap. 50 that the Final Meeting of Members of
      1,561 words

  • EDITORIAL & opinion
    • 781 12  -  THE bottom line OPINION david derosa THE Bank of Japan may be gearing up to turn itself into a version of the European Central Bank, policy wise, once it has defeated deflation. The ECB targets inflation at 2 per cent per year by
      781 words
    • 96 12 'We are one of the few nations in the world that defines the military as being an expeditionary force.' -David Segal of the University of Maryland, on the armed forces of the United States that, unlike other nations, does not regard its military as being intended for
      96 words
    • 655 12 EDITORIAL AROUND this time every year, governors from the 63 member countries of the Asian Development Bank (ADB) gather somewhere or other in the world for their annual meeting. They deliver speeches, occasionally praising, but more often criticising, the bank's work. The US is usually the
      655 words
    • 1120 12  -  The quest for the 'right' price is complicated by many factors, including politics, terrorism and the economic needs of Opec producers By G Panicker OPEC has just signalled to the West that it is not ready to do their bidding. The powerful
      AFP  -  1,120 words
    • 805 12  -  COMMENTARY It's the theatre of the absurd in Iraq, with Bash as clueless as ever By Bob Herbert PRESIDENT George W Bush fell off his bike and hurt himself during a 27km excursion at his ranch in Crawford, Texas, last Saturday. Nothing serious. A few
      805 words

  • REGIONAL news
    • 554 13 INDIA'S MEW MEN Chidambaram to raise spending on manufacturing, jobs and agriculture Reuters Bloomberg AFP [NEW DELHI] India's new finance minister, Palaniappan Chidambaram, said yesterday he would continue reforms to keep Asia's third-largest economy on a growth path and that his government was committed
      Reuters; Bloomberg; AFP; REUTERS  -  554 words
    • 162 13 Patel says country needs 'world-class' facilities Bloomberg [NEW DELHI] India's new Civil Aviation Minister Praful Patel favours the sale of the state-run airports in New Delhi and Mumbai to help improve facilities. The country needs "world-class" airports, he told reporters in New Delhi as
      Bloomberg  -  162 words
    • 195 13 CHINA CURBS AP [SHANGHAI] China's southern business capital of Guangzhou has postponed building a new subway line, state media said yesterday, in what may be the biggest project affected by official attempts to cool roaring economic growth by limiting construction spending. Construction had been
      AP  -  195 words
    • 245 13 Demand forecast to rise 7.3% this year, against 9.4% in '03 Reuters [SINGAPORE] China's surging oil demand may slow down this year if it succeeds in cooling off investments in some overheating sectors, analysts say. Hawaii-based energy consultancy Facts Inc
      Reuters  -  245 words
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  • 4880 14 Transaction date: May 24 HONG KONG Vol HK Exchanges Clearing 15 70 0 35 2582 HKS *1- 000 HKR Irrt'l 2.25 unch 3860 Hong Kong Electric 31.70 0.40 2413 Aeon Credit 4.50 0 05 32 Hongkong Chinese 0.97 0.01 132 Aeon Stores 5.15 0.30 34 Hongkong Chinese Ltd
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  • 885 14 Transaction date: May 24 Static name m Oam Change KwfcM— 1 Ow» Q—ft AHgreen 50c 0.29 0.935 +0.010 NOL 141 2.030 ♦0430 BIL lotl US20c 0.39 0.740 -0.010 OC8C 194 11.700 -0.100 CapitaLand 0 96 1.280 <0.020 Partway H 2* 059 1.130 -0.010 Chart SemiCond 26c 1.23 1440 +0.040
    885 words
  • 2277 14 Transaction date: May 24 KUALA LUMPUR <£%**- a Jg ■11 room George Kent .0.82 und 20 GlobetromcsTech .....051 -0.02 3797 AS M Realty 1.36 0.04 1 0 40 1)01 Abrk 0 60 0 01 73 Gold Bridge Engrg 0.40 -0.01 114 ACPIndustries 198 ux* 21 Golden Frontier 0.76 -0.03
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  • 814 14 BONDS WARRANTS Pram Expiry T«| Last Vol Com Exar Dkc Gear- Mths Code Company Salt *m- rOOO) Ratio Price tog Left 3779 ASLManne Hldgs W*****1 16 3 50 1 53 27 3.41 47 3696 ASTIW*****1 .35.5 1.5 1234 1 16 -5 1.52 1 3697 Acma Ltd W*****6 .0.5 1 50
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  • WORLD news
    • 483 15 SEOUL/SAN FRANCISCO Samsung, Toshiba slashing prices to undermine rivals, say analysts Reuters TWO companies that dominate the lucrative market for memory chips used in digital cameras and music players have set the stage for a fierce battle in the most profitable part of the memory
      Reuters; AFP  -  483 words
    • 237 15 LONDON A LACK of transparency has allowed chief executive pay to soar 168 per cent over the past five years, according to research by Independent Remuneration Solutions (IRS). Total remuneration awarded to bosses of the UK's largest companies climbed an average
      237 words
    • 680 16 TOKYO They still rely too heavily on volatile holdings of stocks and bonds: analysts Reuters JAPAN'S top three banks, including leader Mizuho Financial Group, returned to annual profit yesterday. But worries about their fragile recovery from a decade of bad loan problems still lingered
      Reuters; AFP  -  680 words
    • 565 16 MELBOURNE Reuters Bloomberg REAL estate developer Lend Lease Corp Ltd yesterday launched an all-stock bid for General Property Trust. The bid values Australia's third-largest listed property trust at A 56.7 billion (SsB billion). Lend Lease said the combination with GPT would
      Reuters; Bloomberg  -  565 words
    • 394 16 AMSTERDAM Reuters BARRIERS to foreign investment are stifling the development of oil production capacity in the Middle East's four big energy powers, said analysts. Restricted access to those biggest and cheapest reserves has forced companies to turn to more expensive sources, leading to conditions
      Reuters; AP  -  394 words
    • WORLDWatch
      • 94 16 Ernst Young under criminal probe Reuters [NEW YORK] Federal prosecutors in New York have started a criminal probe of Ernst Young LLP and the promotion of some of its tax shelters, the Wall Street Journal said yesterday. "Prosecutors have impanelled a grand jury in connection with the investigation, which is
        Reuters  -  94 words
      • 93 16 Reuters [SEOUL] Citigroup Venture Capital (CVC) has nudged up an earlier offer to buy non-core assets at South Korea's Hynix Semiconductor Inc by about 3 per cent to 954.3 billion won (Ssl.4 billion), a source close to the deal said yesterday. Hynix, the world's third-largest
        Reuters  -  93 words
      • 92 16 Bloomberg [NEW YORK] Wells Fargo Co may buy Strong Capital Management Inc, which settled lawsuits last week over allegations of engaging in improper mutual fund trading, people familiar with the matter said. The fifth biggest US bank probably would pay as little as US$4OO million,
        Bloomberg  -  92 words
    • 185 16 LONDON Reuters ROYAL Dutch/Shell cut its oil reserves for the fourth time this year yesterday as a booking scandal that has wiped more than a fifth from the oil giant's reserves rumbled on. The world's third biggest oil firm said it was now
      Reuters  -  185 words
    • 297 16 Failed strategy of 2003 working well for biggest funds so far this year Bloomberg [NEW YORK] Managers of some of the world's biggest stock hedge funds, including Lee Ainslie, Jim Pallotta and William von Mueffling, produced returns of more than 7 per cent for
      Bloomberg  -  297 words
    • 568 16 PARIS IHT AT the heart of the European Commission's review of the proposed merger of Sony Music and BMG, the recording company owned by Bertelsmann, is the search for a satisfactory response to one question: Where do music prices come from? Not literally, of
      IHT  -  568 words
  • 6707 15 Transaction date: May 24 52-Wk Td Last Vol Day Last Quote GrOrv Mv GfYW Net MCap High Low Code Company Sal* rOQO) Wall low »uyr S«Mf Cw S K til 25.5 5 5716 1stSoftware5c ....12 +1 1625 12 11 11.5 12 47.6 57.9 32.9 5834 A-Sonic5c 35 unch
    6,707 words
  • 63 15 SM* M UM Vet Q*, udOho GrO» 0* GrYW MM MCm> I—I U» C>4» CllT W. W <» U. -rr U*m Cw W >3 2S£0 Mas tOSi Diamond! US2060*I 21» CMS ISOJVSTKh US3740 aw sMOim uaa £101 tSSAPm US*270 ***** *50 6I» SFOftS USIIJCOal i«o ij» ST»rrn« 1«0
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  • 1822 15 B* 1M U« VW Oay IMOMU ootr ON fetid MM ttUp —i i— Ce* c«HT W if ««f CM wt *3 ii4 mod Ms nap 5c —15 iu it a 42 15.4 2101 WOlSc— MS -ant M.1 0.9 11 S 463 15 (SOI AS4ult>10c U *05 91 22
    1,822 words
  • 319 15 tt-Wt Tal LM Voi 0*1 UMQMU CrOn Ob Un\6 Mat MUa WHwa* Car 5*. raw M* U» »>«> 5«fcr fw »3 72» IK COD AV*nn«8iA2S< A2Mcd -15 9! W JM JB II 4.9 7.7 4M! tarn uth0fpKiik HJC7J0 JJ {**£> M(U OwwKongWc MK178C 240 63 6.7 3 40M6S
    319 words

  • Page 16 Miscellaneous
    • 294 16 CRYPTIC CROSSWORD of how developers mm mm mm 8 Naval escort providing ca- I f maraderie (13) |jß^J_— Nurse, she looks after the 12 Actor's bonus (5) 16 Reason it was put back in 17 Man found in a tavern once 18 Indisposed sower is not so 19 Laze around
      294 words

  • SHIPPING TIMES
    • 306 17 Bloomberg ASIAN freight rates for carrying 30,000 metric ton cargoes of gasoline, jet fuel and other petroleum products may rise for a second week because of an increase in fuel demand in the US. Rates for 30,000 ton clean product cargoes on the benchmark route between Singapore and
      Bloomberg  -  306 words
    • 287 17 SGX 000 May 24 SS Vol CH Offshore 0.37 unch 758 ChuanHup 0.49 unch 2011 Cosco Investment 0.78 0.02 9430 CWT Distribution 0.49 -0.01 33 Ezra Hldgs 1.00 0.06 283 Freight Links .0.10 unch 248 GB Holdings 0.75 0.01 11 Java Holdings 0.80 0.01 2985 K1 Venture 0.26
      287 words
    • 579 17  -  Vessels moved out of busy sea lane after collision; no oil spilled By George Joseph [SINGAPORE] The investigation into Saturday night's collision between a fully laden car carrier and a oil tanker has begun with Singapore authorities taking statements from the ships' Masters and
      AP  -  579 words
    • 759 17  -  Region needs to be made more secure against pirate attacks: Intertanko By Donald Urquhart [SINGAPORE] The boarding of an Aframax tanker by pirates in the Indonesian port of Balongan last week has highlighted some of the key problems facing the region's shipping industry
      759 words
    • CHINA ports
      • 948 18 Existing port facilities in China cannot cope with fast rising imports, resulting in delays in deliveries Bloomberg [HONG KONG] A BOOMING China, importing more and lacking the infrastructure to quickly move shipments after they arrive, continues to cause bottlenecks at ports, delaying ships up to 10 days. "Our
        Bloomberg; FILE PHOTO  -  948 words
    • 104 18 PAGE Austral AL 5 Bank Line 4 BSA 4 B'tang Mas 6 CMACGM 3 COSCO 3 China Shpg 5 Crocodile Line ....4 CWT Globelink 4 Delmas 4 Dongnama 3 ECL 3 Foong Sun 5 Gemartrans 4 Hamburg Sud 3 Hangli 4 Heung-A 3 IRISL 5 Kyowa 5
      104 words
    • 7224 22 THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dtst'n Name Name Number Number SIN OWF* 08/06 22/06 HamburgSud EVER GROWTH 094W 65-*****133 To ABIDJAN (ABJ) 2003 Cote D'I voire KJ/04 23/06 burflSud N RIVER J32W 0V04 26/06 Delmas DELMASFORBIN 427W 65-*****344
      7,224 words
    • SHIPS IN PORT
      • 569 23 Vessel Voy No Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL OELMAS KERGU 426W J18/19 A/SIDE 25/05 0500 GR FESTIVAL 93A J23 A/SIDE 25/05 0800 HOTAY1 6/04 J15 A/SIDE 25/05 0500 IDEALEXPRESS 1004 J15 A/SIDE 25/05 0600 LABROY 159 EBLS09 J8 A/SIDE 25/05 1400 SHANFURYU 13/04 J3 A/SIDE 25/05 0600
        569 words
      • 1765 23 CONTAINERS TERMINAL AND VESSEL SCHEDULES Vessel Out In Bth Berthing Un- Berth Name Voy Voy seq berthing Nmbr A« DAHLIA 076S 076S 1 25/05/2004-15:00 2605/2004-02:00 T02 Aa HIBISCUS 092N 092N 1 25/05/*****8.30 25/05/2004-2230 TQ4 AKSOY TWUVA 0415 0414 1 25/05/2004-2030 2605/2004-01 30 K17 ALAMJAYA2 8897N 8897N 1 28/05/2004-23:00
        1,765 words
      • 142 23 May 26 HK: Budha's Birthdy. S.Korea: Budha's Birthdyh. May 30 Germany: Whit Sun. Netherlands: Whit Sun. Norway: Whit Sun. Switzerland: Whit Sun. May 31 Belgium: Whit Monday. Brunei: Anni Royal Brunei. France: Whit Monday. Germany: Whit Monday. Netherlands: Whit Monday. Norway: Whit Monday. Sweden: Whit Monday. Switzerland: Whit
        142 words
      • 839 23 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 average sized stem. Market movements are indicated. The Cockett Bunker Price Index change and the
        839 words
      • 616 23 CD,),, 180 Max 989.6 0.6 14.2 0.06 46 0.04 20 Density Water Residue AshAluminlum Sediment No above E25 0 0 0 0 0 0 380 Ave 986.3 02 13.6 0.04 27 0.02 f7L 380 Max 993.2 0.7 17.8 0.07 68 0.04 xt/M-3 v/v h/u m/m ppm
        616 words
    • AIR & LAND transport
      • 563 24 Airport building opened last Jane alter delay in safety certification Reuters [PARIS] Terminal 2E at Roissy-Charles de Gaulle airport was built in a style and on a scale to match the airport's fast-expanding ambitions. But the deaths of at least five people when a
        Reuters; AFP  -  563 words
      • 483 24 Passenger revenue up 47% last year after expansion Bloomberg {DUBAI] Qatar Airways, which plans to double its all-Airbus SAS fleet to 52 within five years, said it carried 27 per cent more passengers during its last fiscal year after adding aircraft and destinations, including
        Bloomberg  -  483 words
      • 141 24 Reuters [SYDNEY] Qantas Airways's new low-cost domestic venture takes off today as Australia's biggest airline launches its most serious challenge yet to Richard Branson's discount airline Virgin Blue. Passengers have snapped up bargain tickets for as low as As 29 (5534.50) on Jetstar flights along
        Reuters  -  141 words
      • 225 24 Bernama [KUALA LUMPUR] Air Asia Sdn Bhd, Malaysia's budget airline, plans to have 24 aircraft servicing its domestic and international routes by October this year, said its chief executive officer Tony Fernandes. It planned to buy seven more Boeing 7375, he told
        Bernama  -  225 words
      • 438 24 Airline boosts market share even as tourism to Israel recovers Bloomberg [JERUSALEM] El A 1 Israel Airlines, the state-owned national carrier, said it had a US$4.5 million profit in the first quarter, compared with a year-earlier loss, as revenue
        Bloomberg  -  438 words
      • LOGBook
        • 72 24 Bloomberg British Airways, the second-largest European airline, said it plans to cut business class fares by as much as 43 per cent on 103 routes in July and August. The cuts cover 28 long-haul and 75 European routes, Londonbased British Airways said in an
          Bloomberg  -  72 words
        • 112 24 Reuters [ISTANBUL] Turkish Airlines (TA) is in talks with US aircraft maker Boeing and Europe's Airbus on the purchase or rental of new planes, the carrier said. TA general manager Abdurrahman Gundogdu said he expected the talks to be completed by the end of the
          Reuters  -  112 words
        • 78 24 Reuters [PARIS] The world's largest package carrier United Parcel Service (UPS) could opt to replace outstanding orders for Airbus A3OO-600 cargo planes with A3BO superjumbo orders, French daily La Tribune reported. Without citing its sources, the paper said the acquisition of A3Bos was one of
          Reuters  -  78 words
      • 2139 24 CUT FLIGHT ETA FLIGHT ETD LH9762 0630 $0326 1345 AM*H BA7382 m 5025 0430 8A7305 2255 0F82 2215 LH778 1555 U4381 2255 LH9T70 2300 »55 0F5 2255 1 $0229 2300 *****7 1555 LH779 2305 naaaa $023 otos —mu ax ««2 KL837 1450 KL838 2255 22 S024
        2,139 words
    • 13TH ASIAN SHIPOWNERS' FORUM
      • 1334 25 The who's who of the Asian shipowning community gathers to discuss crucial issues, including port security. Security in world ports, a more vocal Asian voice in international shipping and stricter guidelines about the minimum safe number of crew to have on board ships. These are likely to
        PHOTO: MOL; PHOTO: PSA CORP  -  1,334 words
      • 275 26 China recently made its first delivery of a domestically built Cape-size bulk cargo vessel to a customer in Europe, heralding the nation's consolidated presence on the world market for huge bulk cargo ships. The vessel delivered has so
        275 words
  • Page 17 Advertisements
    • 151 17 PrtH-i l French airport terminal's design tSonieneCKS comes under scrutiny page a worsen at China D Or+s p fIGE Q atar Airways carries 27% more p passengers page a 11 B Bus (Maritime Logistics Management) Up to 12 subject exemptions for relevant diplomas and certificate of competency Can be completed
      151 words

  • Page 18 Advertisements
    • 626 18 I IMPORT I NORTH AMERICA [l AUSTRALIA/NEW ZEALAND I SUPER SHUTTLE EXPRESS (SSX) [AUSTRALIA ASIA EXPRESS (AAX) vtssa voy lgo sm p*g vq T m 1 syp m am fre sw wc OOCI HAMBURG 02W19 12/05 30/05 01/04 PlO NEDUOYD ADOAIDE 77* OMUT 17/05 It/05 21/05 25/05 30/05 01/06 PtO
      626 words
    • 541 18 Lines services represented by Q f tf, e Singapore Logistics Accredited Agents,. Association Vo.i-Singapore Shipping Association |S ULY UNE MALE /vessel voy ha ha HA A P. KLANG SPORE MAU Kota Teraju TRJOBI 27/05 07/06 Maid Carrier 747 01/06 30/05 08/06 Princess Lily 0404 06/06 08/06 15/06 I 11 11
      541 words

  • Page 19 Advertisements
    • 722 19 MOL Combines a range of shipping modes to ensure timely, reliable services covering major ports in Norm America, Europe, Japan, Asia, Africa Oceania. Abe accapt Intra-Asia Ciftn t« BUSAN KWANGYAN6 SHANGHAI YANTIAN XIAMEN QMGDAO lUAWAM/JAKARTA SURAIAYA KAOHSIUHG lAHGKOK LAEM CHAIAHG WCWimiWH PASS GUDAH6 PWAMG PORT KELAMG For Schedules, BL Searches,
      722 words
    • 1405 19 GENERAL AGENTS IN SINGAPORE: 16 RAFFLES QUAY #36-01 SALES/BKGS TEL. 6420 5857/43 FAX: **********4 COSTAR SHIPPING PTE LTD HONGIeongBUILDING OUTWARDIB/U 642C5802 62^5325/75 CR NO. **********0 M SINGAPORE *****1 INWARD (IVO) 6420 5786 *****319/49 jauOo TEL 6226 1900 (MAIN) T/SHIPDEP *****825 **********6 JOHOH S OFFICE. CONVENTIONAL 6420 5850 6226 2208 COSTAR
      1,405 words

  • Page 20 Advertisements
    • 1179 20 Kjl nci |U| AC ENQUIRIES/BOOKINGS: *****344 FAX: *****433 E-MAIL: daima*4<Mmas.com.sg VCklllllW DOCUMENTATIONS/OPERATIONS: *****637 FAX: *****177 mMKWBTMW IMB Hit COWTAMtt SERVICE TO WIST AFRICA Hp tttOft VKSa VOY SIHGAPOKE POUT KELAHG li HAVRE DAKAR BANJUL NOUAKCHOTT CONAKRY Hyundai Highness 350W 31/05 16/06 28/06 03/07 06/07 04/07 J HyuwloiUMr 322W 07/06 08/06
      1,179 words
    • 753 20 BSA ii I| VB3 i nT=}=T^TeV!!?Ef3^TsS^^Hr MYANMA p£g FIVE STAR LINE (Myanmar National Line) Loading for Yangon VESSEL VOY SIN PKI PEN PGU PAGAN 328W SU> HPA-AN 320W SID SU> IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUL 03-*****300 PKL 03-*****101 PEN: 04-*****02 jfrtasßmm ACCEPTING CONVENTIONAL C6O VESSEL VOY HUG SIN PGU
      753 words

  • Page 21 Advertisements
    • 1422 21 [VESSEL VOY I SIN I PKI DXB BAB DMM BIK I CHABAHAR IKHORRAMSHAHR IRAN SHAHRYAR PCL 8033 30/05 31/05 09/06 10/06 17/06 19/06 ***** 23/06 IRAN ISFAHAN PC1371 06/06 07/06 15/06 16/06 23/06 25/06 27/06 29/06 IRAN SATTARI PCLBO34 12/06 13/06 22/06 23/06 30/06 02/07 04/07 06/07 IRAN SHAHRYAR PCL
      1,422 words
    • 468 21 UK CONTINENT SERVICE Loadng tor ATERMON RTM/ATW/BMN/UK/NAN KEELUNG RTM/ATW/BMN/UK/NAN Loads Singapore, E7W. Malaysia, Indonesia MIDDLE-EAST SERVICE Loading for J FRIEND HDD/JDH/AQA J SAFE DBI/ABU/DOH/BRN/DMM/KWT PAN VOYAGER DBI/ABU/DOH/BRN/DMM/KWT "Loads Singapore, EVW. Malaysia, Indonesia USA SERVICE Loading for SPLIT CAM/NOLVNFK/SAV/TPC FALCON TRAVELLER VCW/LAX/MZL •Loads E7W. Malaysia, Indonesia F.E./S.E.A. SERVICES S pore Loading
      468 words
    • 608 21 imi Ivtst S_ 5 =fg==ag= ami z^Lij^z ■flW—=ll^—BB Big, -SS gg 88 MQAHPA 1211*1 27/05 «W~ PAC lANDA 12J9N 29/05 30/05 I f WBlflWIBl Hcumk mo* 31/05 31/05 fUsS sKrT INDO EXP II 06M 25/05 27/05 22/24 M/W INDO EXP II 069N 01/06 03/06 ~BHaSM~ —BUS oiss !2ff»S!! szs* um
      608 words


  • Page 23 Miscellaneous
    • 124 23 i 5 FOR 7 AM 25 May 2004 gSSSggjIssued by Meteorological Service Division,NEA LEGEND: Thunderstorm Wind speed symbols V 7 Showers Full circle w/o line indicates calm or light and variable winds Rain J O ne half fleche represents 5 knots Cloudy Day L One full fleche represents 10 knots
      124 words

  • Page 24 Advertisements
    • 95 24 0% From 3 rd June 2004, Austrian Airlines Group wilt expand its long- haul services into Singapore and V M Melbourne. The thrice weekly services will operate from VIENNA /SINGAPORE MELBOURNE using our J- J Boeing 8777-200 aircraft 1 ELECTIVE 3 rd JUNE 2004 www.austrianairHnes.com MM Destination FlightNo Days Of
      95 words

  • Page 25 Advertisements
    • 242 25 MONGOLIA jfc, SHIP REGISTRY fast efficient reliable r t' v i." i* V v ..-.tM 18th Asian Freight Supply Chain Awards FEEL THE WARMTH OF THE WORLD'S (Formerly Known as As,an Fre, 3 m industry Awards) BUS.EST PORT. AND WE'RE NOT TALKING Best Seaport Asia about the weather. The Port
      242 words

  • Page 26 Advertisements
    • 152 26 TUVALU SHIP REGISTRY lIP www.tvship.com mem iJHHMk■''-vK J W i\ ~<«^—Mlfciißirt ISi CV';V<4;.;,: jy>> -iSBPR »Pjs, 'Win rA«<v > Jk»IDP 4BV »r<«h K•' iB ■*< i uu Imm «.>*».;►• .1* *>. 4i^&sf?W«w?&Pfeh^'t^iiHKlKnHn: DpShh%ol isflHtfS fs£ > BH HHJhHHK'9a| ■K H Ht Iftsl K HfilfflHg 9 r tmm^t your disputes at
      152 words