The Business Times, 7 December 2004

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents onfine at .comsg MICA (f) 023/03/2004 Tuesday, December 7,2004
    15 words
  • 619 1  -  Cross-country survey finds local business owners have grown increasingly upbeat By ANNA TEO (SINGAPORE] Kncouraged by the turnaround in the economy, business owners in Singapore have become more upbeat in the past year in fact, apparently among the most optimistic in the region.
    Source Grant Thornton 2005 Int'l Business Owners Survey  -  619 words
  • 138 1 sn 2,032.38 (-29.20) ST INDEX FUTURES 2,035.00 (-31.00) SIMSCI 241.93 (-2.95) SIMSCI FUTURES 241.20 (-4.00) MARKETS Monday Change KLSECOMP 916.36 -0.81 NIKKEI 225 1 0,981.96 -92.93 HANG SENG 14,256.86 +45.02 SET INDEX closed JAKARTA COMP 983.19 +1.79 MANILA COMP 1,803.37 -13.62 SEOUL COMP 870.75 -11.80 SHENZHEN B 240.59
    138 words
  • 47 1 TOP STORIES ...PG 2,4 COMPANIES. PG6-11 MARKETS PG 11 SMALL CAPS ....PG 12 SINGAPORE PG 13 ECONOMY PG 15 M'SIA/INDON.. PG 16 CHINA/INDIA ...PG 17 ASIA-PAC PG 18 WORLD PG 19 AVIATION PG 20 SHIPPING PG 21 EDITORIAL PG 22 LETTERS PG 23 PROPERTY.. PG 30-32
    47 words
  • 354 1  -  HDB Corp will continue to be protected as past reserves By ANDREA TAN {SINGAPORE! The Housing and Development Board (HDB) finally revealed yesterday that it sold HDB Corp to Temasek Holdings for $117 million. "The sale of HDB Corp to Temasek
    354 words
  • Page 1 Advertisements
    • 152 1 pay day for ITHE MAESTRO ...or what it costs to work out Asia Pulp Paper's crushing debt pg 4 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access our online news anytime. Call 6388-3838 to subscribe and activate your online account. 8
      152 words
    • 11 1 ft tfBCEBS AV|AT|ON set to takeoff WL IH next week PG2O
      11 words
    • 38 1 ■mmmk doing business IN VIETNAM New pact to offer wider scope lIHEa for S'pore exporters pg 13 OFFICE SPACE Where the market is headed The China Aviation Oil debacle is throwing up tricky i ssues of lawt i.
      38 words

  • TOP STORIES
    • 678 2  -  HOCK LOCK SIEW By WONG WEI KONG WHEN Chen Jiulin returns to Singapore from China as he indicated he would he will find himself at the centre of investigations into Singapore's biggest corporate failure since the collapse of Barings Bank in 1996. What
      FILE PHOTO  -  678 words
    • 803 2  -  Company's parent says info he gave to court incomplete By KENNETH LIM [SINGAPORE] China Aviation Oil (CAO) said yesterday it expects former chief executive Chen Jiulin to return from China "some time this week" to help Singapore investigators. And its state-controlled parent said
      803 words
    • 568 2 MediaCorp, SPH get nod to merge TV operations THE Media Development Authority has given the nod for MediaCorp and Singapore Press Holdings to merge their mass-market TV operations. No regulatory approval is needed for the proposed merger of the two companies' free newspapers, Today and Streats. as the
      568 words
    • 420 4  -  By SIOW LI SEN [SINGAPORH] High-flying accountant Nicky Tan and the team sewing up Asia Pulp Paper's US$l5 billion debt restructuring deal stand to earn millions of dollars in fees perhaps even tens or hundreds of millions. Not
      FILE PHOTO  -  420 words
    • 731 4  -  Under the deal, 15 per cent of debts will be paid up in the first 10 years By SIOW LI SEN [SINGAPORE] Asia Pulp Paper said yesterday it has received overwhelming support to restructure US$B billion owed by its Indonesian units, despite
      731 words
  • Page 2 Advertisements
    • 359 2 Structured Investment Products Complex financial WMDs made simple Dates What 17-18 January 2005 Besides providing investors with innovative "market plays" and 9.00 am to 5.00pm fund raisers with creative cost-efficient driven modes of sourcing funds, an endless menu of fancified structured Venue products are continuously being crafted to address specific
      359 words
    • 60 2 Incorporation services in all major jurisdictions Global network of offices Ready-made companies available Management and administration services China business registration Accounting and trade support services Virtual office solutions Personal and corporate bank introductions TO ARRANGE A FREE CONSULTATION CONTACT: Simonne Toh T: +65 6535 3382 F: +65 6535 3991 E:
      60 words
    • 29 2 Recruit from a wider audience JL i o mo m WS mt mj m o Call 1000 209 0022 j or email recruit@sph.com.sg for your recruitment solutions EBBSBEI i
      29 words

  • Page 3 Advertisements
    • 210 3 r i m 'f' v w v v../ r 2LS'" */v;ir v i -V'v. '.r' >•" -V*fr -v i --.>,••• -r K'i j f -f .s„ r— a 1 J ■•>. I a//- "<( v •> j. v t) la ,> i '3~Z*3**» > 1:: .''.'V J jg '//tfT- IB
      210 words

  • Page 4 Advertisements
    • 216 4 •t vvV'* "?;n JOIN US IN SPREADING W* THE STARBUCKS SPIRIT fit' arc passionate about offering the highest quality coffee to our customers. li e are also committed to contributing positively to the community. Have a treat on us! Come to any Starbucks Coffee during our Christmas Open House on
      216 words

  • Page 5 Advertisements
    • 32 5 $Tim jJMT' SteSaaraCnarterea S fl2 SINGAPORE oCU/f 5 December 2004 •Ifefe.gSa Runspiration Partner Oftaal Soonsors Organ.sers Partner in Sports Title-Sponsor SSftSSS Spontor offlc SINGAPORE Chartered 8 oW**»-c HS® 6 -*?~r .1, 0
      32 words

  • Page 6 Advertisements
    • 112 6 f'■ "i# 1 A**** .Mllcte > gyv f y ■T J ■F 1 I igAaES, 1 B^kSh hH^IIHBbSBS^I JsT j|BKwm3fc law J Fv* li^B«i5iBBBB£g"B v uIIVIVIVVnHS Jk— 1 PL X X '~Jhb^ Bfc> fl ~~^H I■' fl T 'SB I > tM<A :_.a^fi «««r XJ ■>. We are an integrated
      112 words
    • 22 6 SCORE CARD Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email noticesssph.com.sg. |Notices|
      22 words
  • COMPANY NEWS
    • 616 6  -  It will offer rich content-live news, EPL highlights and music videos By ANGELA TAN IN A playful trial launch aimed clearly at differentiating itself from its more formal rival Sing Tel, StarMub yesterday promised customers exciting high-speed 3G services that should be available in the first
      FILE PHOTO  -  616 words
    • 550 6  -  By WONG WEI KONG THK Media Development Authority (MI)A) has given the nocHfor MediaCorp and Singapore Press Holdings (SPH) to merge their massmarket TV operations. No regulatory approval is needed for the proposed merger of the two companies' free newspapers, Today and
      550 words
    • 204 8  -  By JEAN CHUA FROM next year, primary bond dealers in Singapore will transact Singapore government bonds electronically through the Bloomberg inter-dealer trading platform. "The Monetary Authority of Singapore has chosen Bloomberg to provide the inter-dealer trading platform," said the global provider
      204 words
    • 367 8  -  It will start work on Essar Oil's refinery in Gujurat this month By JEAN CHUA HOT on the heels of winning petrochemicals plant contracts in Iran, SembCorp Engineers and Constructors, a unit of SembCorp Industries, yesterday signed contracts worth about US$35O million
      FILE PHOTO  -  367 words
    • 469 8  -  By VEN SREENIVASAN KEPPEL Offshore Marine (Keppel O&M), the wholly owned subsidiary of Keppel Corporation, has boosted its interest in the leading rig builder in Brazil. Keppel said yesterday it has bought a further stake of 22.75 per cent in
      FILE PHOTO  -  469 words
    • 34 8 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ Lower Risk;^ Low to Medium Risk;& Medium to High Risk;** Higher Risk;open-ended;+Before subdivision of units;After subdivision of units;SP after stock split N.A-Non Dealing Day
      34 words
    • 401 9  -  TROUBLE AT CAO ENOC in talks with new partners for US$150m storage terminal project By RONNIE LIM PROJECT Horizon a planned US$l5O millionplus oil storage terminal on Jurong Island will go ahead despite China Aviation Oil's withdrawal, an Emirates National Oil
      FILE PHOTO  -  401 words
    • 340 9  -  By KENNETH LIM SOLID waste recycler EcoWise Holdings said it will sell a year-old Chongqing investment for $35,000 less than book value and use the $1.4 million cash proceeds as working capital. EcoWise executive chairman, managing director and acting chief executive Lee Thiam Seng
      FILE PHOTO  -  340 words
    • COMPANY BRIEFS
      • 82 9 PROPERTY developer United Overseas Land said it is amending its planned special dividend, payable on Dec 30, 2004, to use up its Section 44 tax credits, but shareholders will still get 35 cents per share. What was originally intended
        82 words
      • 93 9 SEMBCORP Logistics said it will fully utilise its Section 44 tax credits in a special dividend worth 86.9 cents per share if none of the current outstanding share options are exercised and 83.8 cents per share if all the options
        93 words
      • 64 9 S(iX Societe Generale Acceptance NV is offering 50 million Kuropean-style call warrants at 20 cents each relating to shares of commodities trader Noble Group The warrants, convertible to one share each, may only be exercised on June 17,2005, at $1.44
        64 words
      • 80 9 LOGISTICS company Airocean Group is selling its 60 per cent stake in AOF Freight HK to AOE's remaining shareholders for a consideration of HK$7.3 million (S$ 1.5 million), to be fulfilled over five equal annual instalments starting one year after the deal's
        80 words
    • 285 9  -  By ROLAND LIM SESDAQ-LISTKD Startech Electronics, which has developed another wing as an e-solutions provider, has forged a strategic alliance with travel service provider and credit card issuer China Xpress in a share swap and convertible bond deal. Under the deal
      285 words
    • 563 9 Bloomberg CHARTERED Semiconductor Manufacturing Ltd, the world's third largest provider of made-to-order chips, will raise US$652 million from a bank loan to help fund expansion. "The company is building a new plant in Singapore to meet expected demand for new technology
      Bloomberg  -  563 words
    • 674 11  -  This will make A-Sonic a big shareholder in Perth-based carrier By VEN SREENIVASAN AFTER months of controversy and court battles, Sin-gapore-based investment firm Captive Vision Capital (CVC) has taken control of Australia's Sky West Airlines, paving the way for mainboard-listed A-Sonic Aerospace to become
      FILE PHOTO  -  674 words
    • 690 11 Bloomberg WASHINGTON] Global Crossing founder Gary Winnick and at least two other executives are likely to be fined under an agreement that will end a US Securities and Fxchange Commission probe into the company's accounting, people familiar with the matter said. SHC commissioners plan
      Bloomberg  -  690 words



  • Page 9 Advertisements
    • 708 9 ®fBKi/b CHINA MERCHANTS HOLDINGS (PACIFIC) LIMITED (Incorporated in the Republic of Singapore) Company Registration Number *****1278 D NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of China Merchants Holdings (Pacific) Limited (the "Company") will be held at Marina Mandarin Singapore, Pisces/Aquarius Room, Level 1,
      708 words

  • SINGAPORE MARKETS
    • 528 10  -  STOCKS Index takes its biggest tumble in two months; semiconductor stocks, however, put up a good show TEH HOOI LING Senior Correspondent THE Straits Times Index (STI) yesterday took its biggest plunge in two months as the banks and Singapore Telecommunications were sold down
      Source: Bloomberg  -  528 words
    • 1030 10  -  Compiled by JOYCE KOH Singapore Petroleum Company Dec 6 close: $3.38 BNP PARIBAS PEREGRINE, Dec 6 SINGAPORE Petroleum Company (SPC) has been hit by China Aviation Oil's (CAO) shocking revelation of derivative losses. SPC has disclosed a US$l5.3 million exposure. Combining this with the impact of falling oil
      1,030 words
    • 520 10  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar ended Asian trading yesterday weaker by a painful one per cent or more against some counterparts after a disappointing November US jobs number late last Friday cancelled out its attempt to correct higher towards the end
      Source: Reuters  -  520 words
    • TRADES TO WATCH
      • 113 10 THE Mrs LeeChoon Guan Trust Fund is now a substantial shareholder of newly listed Sembawang Music Holdings after it bought 500.000 shares on the open market on Thursday Sembawang Music's first day of trading The trust fund, which took a 4.7 per cent
        113 words
      • 75 10 GUTHRIE GTS executive chairman Putra Masagung's deemed stake rose on Thursday last week after 439,000 shares were bought through a nominee account at 20.5 cents each on the open market. The deemed holding of the director who also has a direct 0.052 per cent stake now
        75 words
      • 106 10 ONE week before it moves to the main board. Sesdaq-listed Kyodo-Allied Industries chairman and managing director Charles l.ee Zong Tang sold 2.6 million shares yesterday at 14 cents each in a married deal. Those shares were sold at a two-cent discountto Kyodo-Allied's close of
        106 words
      • 85 10 ELLIPSIZ executive chairman and CEO Xavier Chong Fook Choy bought 100,000 shares on the open market on Friday last week at 36 cents each. 1 lis direct stake now stands at 11.93 percent from 11.88 per cent before the purchase. Mr Chong also holds
        85 words
      • 81 10  -  Compiled by KENNETH LIM INNO-PACIFIC Holdings managing director and CEO Wong Chin Yong has seen his stake rise to 0.49 per rent from 0.44 percent since November after a nominee account bought 265,000 shares on the open market. The latest purchase took place on
        81 words
    • Article, Illustration
      435 10 OTHER SINGAPORE INDICES Dec 6 VALUE CLOSE BT OB/OS -114.00 -1100 BT CADI -*****.00 -95.00 BT 10-day MA -*****.00 -11.00 All-SG Equities 521.70 SG Equities Elect 162.53 +0.14 SG Equities Fin 1601.16 -20.80 SG Equities Prop 512.32 -4.19 SIMSCI 241.93 -2.95 SiMSCI Futures 241.20 -4.00 MOST ACTIVE STOCKS VOLUME STATSChP
      435 words


  • SMALL CAPS
    • 717 12  -  Food Junction may look dull but the cash rich company's fundamentals and prospects make it interesting, writes ANGELA TAN ANGELA TAN er by relooking safer haven stocks and enjoy the festive year-end. And in times of uncertainty, not many stocks deliver safer bets like Food
      FILE PHOTO; Source: Bloomberg  -  717 words
    • 419 12  -  By TEH HOOI LING THE flight to safety in the aftermath of the China Aviation Oil (CAO) debacle has dealt yet another blow to small-cap stocks. "It sealed the coffin on the penny stocks," said a dealer dramatically. The dealer might have exaggerated, but there
      419 words
  • Page 12 Advertisements
    • 705 12 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF L N P REALTY PTE LTD (In Members Voluntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 452 North Bridge Road #06-00, Nam Peng Building. Singapore *****3 on Wednesday,
      705 words
    • 379 12 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF INVAR REALTY PTE. LTD. (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 101-A Upper Cross Street #11-22 People s Park Centre. Singapore *****8 on Wednesday, the
      379 words
    • 716 12 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF DRE (SINGAPORE) PTE LTD (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 101-A Upper Cross Street #11-22 People's Park Centre, Singapore *****8 on Tuesday, the 30th
      716 words
    • 521 12 In The Matter Of The Companies Act, Cap. 50, And In The Matter Of New Art Printing Company (Pte.) Limited (Company No. *****0092N) (Provisional Liquidator Appointed) Notice Of Creditors' Meeting Pursuant To Section 296 Of The Companies Act, Cap 50 NOTICE IS HEREBY GIVEN that pursuant to Section 296 of
      521 words
    • 5 12 h The Business Times J
      5 words

  • SINGAPORE NEWS
    • 475 13  -  Agreement will facilitate S'pore's access to Viet markets when Vietnam joins WTO From DANIEL BUENAS in Hanoi IN a move that will strengthen bilateral ties and help pave the way for Vietnam's accession to the World Trade Organisation (WTO), Singapore and Vietnam yesterday signed
      REUTERS  -  475 words
    • IN BRIEF
      • 89 13 GREEN Dot Internet Services (GDIS) has been awarded the contract to operate the Singapore Tourism Portal by the Singapore Tourism Board (STB). The contract includes a one-time development and implementation of the new portal (bearing the same name as STB's existing website www.visitsingapore.com). Under
        89 words
      • 72 13 SINGAPORE yesterday signed a memorandum of understanding (MOU) with Brunei Darussalam to promote closer cooperation in healthcare between the two countries. Permanent Secretary for the Ministry of Health, Moses Lee, signed the MOU with his Bruneian counterpart Dato Paduka Haji Zainal Bin Haji Momin. The
        72 words
      • 70 13 HANS-ULRICH Mayer has taken over as the new managing director of Nestle Singapore with effect from Dec 1. He succeeds Audrey Liow, who will assume her new role as regional business head (infant nutrition) in a newly created global organisation within Nestle called Nestle Nutrition.
        70 words
    • 502 13  -  By RONNIE LIM TO stay competitive against new Middle East petrochemical producers using cheap natural gas feedstock, Singapore's ethylene crackers "must invest in flexibility" so that they can make use of alternatives to naphtha, including cheaper heavy liquids from the oil refineries
      502 words
    • 211 13 THE Singapore Manufacturers' Federation (SMa) yesterday said it was moving into the private education sector by setting up its own school the SMa School of Management (SMa-SOM). The new school, located at Le Meridien Hotel, will complement executive programmes already being offered by SMa's training
      211 words
    • 253 13 SINGAPORE companies with synergy should join forces to explore markets and even bid for jobs together, Home Affairs Minister Wong Kan Seng said last night. "With such cooperation there is better bargaining power," Mr Wong said at the fifth anniversary dinner of the Enterprise 50
      253 words
    • 398 13  -  It favours not-for-profit body over university as originally planned By CHEN HUIFEN AN international panel has recommended the setting up of a $150 million independent research foundation as part of the government's strategy to develop Singapore into a research excellence centre. The panel, chaired
      398 words
  • Page 13 Advertisements
    • 49 13 mirrrr- A- > tf J!@k -ISbp»- «y| jfl K v.- v. i IV: ,i, .MP ***•>£ actually own a Patek Philippe. You merely look after it for the next generation. The new. larger Calatrava with the unique Patek Philippe 215 PS manual movement. Geneva Master Time, Tel: (65) 6732 1506.
      49 words

  • FOCUS: INDUSTRIES
    • 948 14  -  TELECOMMUNICATIONS Margins from their core voice business are falling and they need to find new growth areas desperately. ANGELA TAN reports ANGELA TAN HONE companies desperately need growth. Margins from their core voice business are falling due to deregulation, fixed-to-mobile substitution and the replacement
      FILE PHOTO  -  948 words
  • Page 14 Advertisements
    • 219 14 Successful Strategy in Managing Your Key Accounts Proven strategies and tactics for building the most profitable partnerships with your key accounts. Creating a key account strategy is critical for business REGISTER NOW ma napers 5 Easy ways to re B ister manager b. Phone How do you defend profitable market
      219 words
    • 3 14 The Business Times
      3 words

  • ECONOMY WATCH
    • 876 15 Many foreigners are becoming reluctant to keep accumulating dollars as fast as before NYT [TOKYO] As Americans embark on another season of debt-sup-ported holiday spending, they might want to give thanks that Masatsugu Asakawa is still buying in America, too. Asakawa, 46,
      NYT; AFP  -  876 words
    • 466 15 But high-level economic meeting is silent on the yuan's US dollar peg AFP [BEIJING] China's leaders have wrapped up a key economic meeting pledging to strive for stable economic growth next year with an emphasis on efficiency and preventing overheating, state
      AFP; REUTERS  -  466 words
    • 180 15 AFP [HONG KONG] Hong Kong's economics chief yesterday said he was considering proposals to open the city's first casino. A local politician put forward the idea in a bid to win a slice of the multi-billion dollar gambling business that is
      AFP  -  180 words
    • 851 15  -  Asian central banks estimated to hold dollar reserves equivalent to 20-30% of GDP By VIDYA RANGANATHAN Reuters AS a fund manager, if you earned a 2 per cent return in the first five months of 2004 and lost 9 per cent in the
      Reuters  -  851 words

  • MALAYSIA/INDONESIA
    • 591 16  -  BT exclusive Move shows banks' new tough stance towards influential borrowers By S JAYASANKARAN in Kuala Lumpur MALAYSIA'S only utility licensed to generate and distribute power has been placed in receivership, in a move that signals a new get-tough attitude by Malaysian banks towards influential
      591 words
    • 792 16  -  INDONESIA INSIGHT Investors will keep profiting with a calm political climate and steady economic growth SHOEB KAGDA Jakarta Correspondent WITH the year-long political season now over, Indonesia's stock market is putting on a stellar performance with foreign and local investors pouring hundreds of millions of dollars
      792 words
    • 297 16 Bloomberg [KUALA LUMPURI Syed Mokhtar Al-Bukhary, a businessman who controls Malaysia's fastest-growing port, will buy a 15.8 per cent stake in auto group DRB-Hicom Bhd, after a four-month bidding contest, a government official said. "The decision made was to sell to Syed Mokhtar's group," Second
      Bloomberg  -  297 words
    • 399 16 [KUALA LUMPUR] Most Malaysian companies are expected to close 2004 with double-digit earnings growth, says a report in the Malaysian Business Times citing analysts. Analysts say this is despite a slowdown in earnings growth in the fourth quarter after many firms showed sterling performances
      399 words
    • 4 16
      4 words
  • Page 16 Advertisements

  • GREATER CHINA/INDIA
    • 441 17 Survey findings disprove talk of big opportunities for foreign firms in China [SHANGHAI) Foreign companies' profits in China have increased rapidly in the past four years on the back of a strong economy but remain tepid compared with other countries with much smaller markets
      441 words
    • 570 17 Reuters [SHANGHAI] China will lower capital requirements for banks that aim to act as trustees for mutual funds, regulators said yesterday, throwing open a new source of income to dozens of city banks. From Jan 1, banks that maintain two billion yuan
      Reuters  -  570 words
    • 250 17 Reuters [BEIJING] China's Industrial Bank Co, partly owned by a unit of global banking giant HSBC, said yesterday it had acquired a city commercial bank based in the southern Chinese province of Guangdong. Industrial Bank, a lender controlled by the government of Fujian province
      Reuters  -  250 words
    • 356 17 Bloomberg {NEW DELHI] India said overseas banks will be able to own as much as 74 per cent in local non-state lenders, easing concern that India may restrict overseas ownership of banks. "The government stands by its March 5, 2004, notification that
      Bloomberg; REUTERS  -  356 words
    • 51 17 [SHANGHAI] A local man views a sculpture named "incongruity" at the Awakening: La France Mandarine, The French Influence In Chinese Arts exhibition in Shanghai yesterday. The exhibition, as part of the "French Year in China hosts the artworks from more than 60 artists of different nationalities.
      AFP  -  51 words
    • 386 17 Bunny Bar with US$50,000 joining fee only for invitees Reuters [SHANGHAI] Playboy is betting plenty of people in Shanghai have US$5O,OOO to spend as it prepares to open its first private club in a city once known as the "Whore of the
      Reuters  -  386 words
  • Page 17 Advertisements
    • 102 17 /SAVE TAX/ Our qualified professionals A can assist you with offshore structures, shelf companies and incorporations in ALL aOflR jurisdictions including: m British Virgin Islands Cayman Islands Bahamas &VJlJli|lUl2] Mauritius Hongkong Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for
      102 words

  • ASIA-PACIFIC
    • 619 18 Infrastructure sharing will let Telstra offer 3G to its customers by July next year AP [SYDNEY] Australian telecommunications giant Telstra yesterday finalised an agreement with rival Hutchison Telecommunications Ltd to share infrastructure for its so-called third-generation (3G) mobile phone services. The companies signed binding
      AP; REUTERS  -  619 words
    • 337 18 Reuters [TOKYO] Aiming to tap into a reviving Japanese property market, Tokyo-based investment firm DaVinci Advisors has launched a 400 billion yen (556.4 billion) real estate fund, the biggest of its kind in Japan. Investment in Japanese real estate is growing on
      Reuters  -  337 words
    • 336 18 Bloomberg [MANIIAJ The Philippines will probably scrap plans for a special tax on telecommunications companies after executives told President Gloria Arroyo that the levy would kill off unprofitable companies. House of Representatives Ways and Means chairman Jesli l.apus said. Mrs
      Bloomberg  -  336 words
    • 489 18 Cheng Yu-tung's ties to Stanley Ho adds lustre to the Manila casino Reuters Construction workers stir clouds of dust as they frantically prepare the 32-storey Hyatt Hotel and Casino Manila for its grand launch early next year in Malate, a top entertainment district. The complex
      Reuters  -  489 words
  • Page 18 Advertisements
    • 340 18 r %lHflH||^^H| Scoring a hit in the Singapore Warrants Market. Calyon. A tactical approach for Investors with high goals. Ondtdyini Call/Put Expiry Exercise S6X Symbol P*k* Capitaland Limited Call 27 Jun 05 1.598 CAPUALAND CA ECW*****7 DBS Group Holdings Ltd Call 20 Jun 05 13.175 DBS CA ECW*****0 DBS Group
      340 words

  • WORLD
    • 445 19 Move comes in wake of 23b euro withdrawals by clients in first three quarters of the year Bloomberg [FRANKFURT] Deutsche Bank AG, Germany's biggest bank, is shaking up the management of its fund unit after clients withdrew a net 23 billion euros (Sssl
      Bloomberg; AP  -  445 words
    • 449 19  -  By NEIL BEHRMANN in London CONCERNED at miniscule exports to emerging economic powerhouses China and India, the government of Prime Minister Tony Blair has set up a new British Asia Task Force to boost trade and investment with the two countries and
      449 words
    • 396 19 CSFB arm is likely to be integrated more into parent bank [ZURICH] Credit Suisse is poised to announce a wide restructuring that will integrate its volatile Credit Suisse First Boston (CSFB) investment banking operation much more closely into the parent bank, a move
      396 words
    • WORLD WATCH
      • 125 19 AFP [TOKYO] Japan is studying ways to increase the tax burden on foreign investors by closing loopholes used by overseas firms in real estate transactions, the Nihon Keizai Shimbun business newspaper said yesterday. The move would come despite Prime Minister Junichiro Koizumi's pledge, announced in
        AFP  -  125 words
      • 119 19 Bloomberg [TOKYO] Global sales of semiconductors will grow 4.7 per cent next year, market researcher ISuppli Corp said, cutting its earlier forecast by half, as oversupply drives down prices. Chip industry revenue will total U*****.1 billion next year after a 24.4 per cent
        Bloomberg  -  119 words
      • 117 19 Bloomberg [NEW YORK] Goldcorp Inc, Canada's fourth-largest gold producer, agreed to buy Wheaton River Minerals for C 52.59 billion (553.5 billion) in stock to gain mines outside North America and a chief executive to succeed Robert McEwen. Together, the companies will produce more than 1.1
        Bloomberg  -  117 words
      • 132 19 Bloomberg [LONDON] Mittal Steel Co, which is set to become the world's biggest steelmaker next year, said 23 people were killed and three injured in a blast on Sunday at a coal mine it owns in Kazakhstan. Production is halted after the explosion at
        Bloomberg  -  132 words
    • 278 19 AP [BALTIMORE] Piper Rudnick LLP is merging with London-based DLA to form a global law firm with the third most lawyers in the world, according to a posting on Piper Rudnick's website. Piper Rudnick, based in Baltimore and Chicago, described
      AP  -  278 words
    • 655 19 White House chief of staff Andrew Card is a prime candidate for the post NYT [WASHINGTON] President George Bush has decided to replace John Snow as treasury secretary and has been looking closely at a number of possible replacements, including White House
      NYT; PHOTOS: AFP  -  655 words

  • AVIATION
    • LOG BOOK
      • 86 20 Reuters [BRUSSELS] Belgian-based budget airline Virgin Express has reported a doubling of third-quarter net profit to 3.4 million euros (557.5 million) on additional cost savings and increased productivity. Operating profits rose even more, to 4.3 million euros from 1.9 million euros last year. Revenues, however,
        Reuters  -  86 words
      • 155 20 AFP [PARIS] French police have issued the description of a hold-all which left Paris' main airport containing a slab of plastic explosive put there in a bungled training exercise. "It is a small blue case between 50 and 60 cm long. It is quite possible
        AFP  -  155 words
      • 81 20 Bloomberg [JOHANNESBURG] Airports Company of South Africa, which manages Africa's busiest airport, and its partners were chosen by the Indian government to help manage the country's Mumbai and Delhi airports. The partners include Bidvest Group Ltd, Africa's third-biggest company by sales, Old Mutual South
        Bloomberg  -  81 words
    • 1010 20 Advanced training and technology have improved airline safety so significantly that there were almost nil fatalities in the US for two years NYT Loosen up, nail-biting, seda-tive-popping frequent fliers. Travelling on scheduled US airlines is safer than it ever has been, with no fatalities in
      NYT; AFP RLE PHOTO  -  1,010 words
    • 561 20  -  Promotional offers to HK, Taipei and Pattaya; it promises 35% cheaper fares By VEN SREENIVASAN QANTAS' low-cost associate Jetstar Asia is set to fly next week, taking the fight right to the doorsteps of both the "big boys" and the low-cost carriers (LCC) already
      AFP  -  561 words
    • 332 20 Report says he has refused to work with Airbus chief AFP [MUNICH] Rainer Hertrich, German co-chief executive of the European Aeronautic Defence and Space company (FADS) will leave his post in 2005 at the end of his contract, a company spokesman said. "It's time
      AFP  -  332 words
    • 385 20 AIRLINE CODES: AA: American Airlines (AAL), AF Air France (AFR), AI: Air India (AK), AY Finnair Oy (FIN), AZ: Alitalia Airlines (AZA),BA: British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR EVA
      385 words

  • SHIPPING
    • 53 21 [SHANGHAI] Two buildings being demolished by implosion at Shiliupu Dock on Huangpujiang River in Shanghai. The demolition marked the closure of a 142-year-old passenger dock, the largest ever in China. A world-class water theme park will be built at the site of the dock in
      AP  -  53 words
    • 311 21 Bloomberg [SINGAPORE] The Baltic Exchange, London's 260-year-old shipping association, yesterday introduced assessments based on the price of selling ships for demolition in China and India. The introduction follows a2l -week trail, the Baltic Exchange said in a statement. The weekly assessments are based on
      Bloomberg  -  311 words
    • 617 21  -  They urge regional govts to address concerns over draft convention By DONALD URQUHART [SINGAPORE] Regional governments have been urged to take a "deep interest" in the draft International Labour Organisation (ILO) Consolidated Labour Convention because of the significant impact it could have
      617 words
    • 317 21 SGX '000 Dec 6_ S$ +<- Vol^ CH Offshore 0 39 -0 01 220 Chuan Hup 0 65 unch 643 Cosco Corporation 1 14 unch 3109 CWT Distribution 0 56 -0.01 30 E/raHldgs 1.18 unch 70 Freight Links 0 10 0 01 175 Grand Banks Yacht 0 91
      317 words
    • Article, Illustration
      40 21 [TOKYO]A 460-tonne chemical tanker. theKissho Maru, is stranded offTateyama, east of Tokyo, after strong winds drove it to the coast on Sunday. No one was injured and there were no reports of oil leaks, Kyodo news agency said. REUTERS
      REUTERS  -  40 words
    • 314 21  -  By DONALD URQUHART [SINGAPORE] PSA International has continued its restructuring with Singapore Terminals CEO Grace Fu taking over a bigger portfolio as head of South-Fast Asia and Japan in addition to her Singapore duties. In her new role, effective from
      314 words
    • 176 21 Bloomberg [SINGAPORE] Neptune Orient Lines Ltd, Singapore's biggest shipping line, said it transported 20 per cent more cargo between Oct 16 and Nov 12 from a year earlier, helped by new services and rising export demand. The company's container shipping unit, APL, carried 142,900
      Bloomberg  -  176 words
    • 232 21 Bloomberg [SINGAPORE] Dynacom Tankers Management, a closely held Greek shipowner controlled by George Procopiou, sold an oil tanker for US$5O million, triple the price the company paid for the ship in September 2003, according to shipbrokers including Londonbased Simpson, Spence Young.
      Bloomberg  -  232 words
    • 165 21 Bloomberg IDUBAII Saudi Aramco, the world's biggest oil company by production, plans to replace about 70 per cent of its oil tankers over the next decade to comply with United Nations safety rules, a company official said. Aramco's shipping unit Vela International Marine
      Bloomberg  -  165 words

  • EDITORIAL & OPINION
    • 521 22 EDITORIAL THE recent news that IBM, the world's biggest computer company, will be quitting its PC business in China highlights the difficulty of succeeding in what could potentially become the most lucrative consumer market. Instead of being able to capitalise on its technology and sales
      521 words
    • 1349 22  -  China's growth attracts as well as terrifies foreign business executives By KEITH BRADSHER NYT CEW business executives watch the growth of the Chinese economy as closely as Michael Smith, the chief executive of the Hongkong and Shanghai Banking Corp. Yet even Mr Smith was startled when his
      NYT; PHOTOS: AP,AFP  -  1,349 words
    • 790 22  -  THE BOTTOM LINE LEON HADAR Washington Correspondent ABOUT a year ago I was invited to attend a conference in the American Enterprise Institute (AEI) this is the Washington-based think tank considered to be the intellectual base of American's neoconservatives to hear two
      790 words
    • 615 23  -  Tan Kok Tim Singapore I RKFKR to "CAD steps into CAO affair as new allegations surface" (BT, Dec 4), and, like many others, feel perplexed by the inertia on the part of the authorities, who have yet to take steps to improve
      615 words
    • 352 23  -  Leong Sze Hian Singapore THREE recent seemingly unrelated events in a way have one thing in common the lack of transparency in Singapore. The first is that the votes cast for the two Singapore Idol finalists remain a secret, despite calls by the public to disclose this
      352 words
    • 219 23  -  Derek How Secretary, Council on Corporate Disclosure Governance WE refer to your editorial, "Corporate Governance Code Review Timely" (BT, Dec 3). The last paragraph of the editorial said: "And the suggestion that companies need not explain deviations from the code appears to be a
      219 words
    • 244 23  -  Ang Ah Lay Hong Kong I RRFFR to your editorial "CAO debacle: Many unanswered questions" (BT, Dec 2). More rules and requirements may help but they are no guarantee or even assurance of a high standard of corporate governance, transparency and accountability. Eventually, all investors, big
      244 words
    • 362 23  -  Tay Boon Sun Senior public relations officer for Director Corporate Development HDB WE refer to the letters "How does a tender disrupt' HDB" by Leong Sze Hian and the commentary "Shouldn't HDB deal be on commercial basis?" by Andrea Tan. Mr Leong and
      362 words
    • 715 23  -  Indonesia the latest country to mull trimming its holdings of US treasuries By WILLIAM PESEK Bloomberg a m T TU. Indonesia?" It was with this question that OxW mm ford University economist Brad Setser began a reKm cent report on the US dollar's mounting problems.
      Bloomberg; AFP  -  715 words

  • Page 23 Miscellaneous
    • 307 23 CRYPTIC CROSSWORD Arnncc flatulence? (6) 6 Sailor needs to obtain re--1 Show reluctance being almost quired standard (6) completely shy (5) 7 Fool in Conservative set (4) 4 Huge American sddier, good 1Q Us| the to|k?t t0 d of worker in charge (8) port (8) BBe unable to find a
      307 words

  • 4232 24 STRAITS TIMES INDEX STOCKS Stock name Wt Close Change Stock name Wt Close Change Allgreen 50c 0.31 1.100 NOL 2.13 3.000 Bll Intl US20c 0 46 0 990 +0.025 OCBC 10.01 13.400 -0.200 CapitaLand 1.37 2.060 -0 030 Parkway H 25c 0.66 1.420 Chart SemiCond 26c 0.81 1.070
    4,232 words

  • 2879 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy yr dy yr dy %yr Dec 3 Index Change Change Change Change Change Change World Index Preliminary 836.6 0.1 7 5 0.3 6.5 0.4 10.! EAFE Preliminary 756.7 -0.1 7.9 0.6 10.4 0.6 14.( Europe
    2,879 words

  • Page 26 Advertisements
    • 1677 26 IMPORT I NORTH AMERICA I 11 AUSTRALIA/NEW ZEALAND I SUPER SHUTTLE EXPRESS (SSX) |AUSTRALIA ASIA EXPRESS (AAX) VESSEL VOY L6I SIN PKG I—l LOS ANGELES EXPRESS 09W46 20/11 *07/12 OMIT rto mouoyd soumurnw «w« »/>. n/u n/» wo ikouotd amuim ow «m •>/>» um i»/i 00(1 NIMGBO OSWM M/l> >./.»
      1,677 words
    • 910 26 IINTIRASIA KOKO SERVICE vpsa/vor umn) hbghkm) mo kch 10 sw jkt STRAITS VENTURE /M 15 3.2 25/11 27/11 02/12 05/12 07/12 STRAITS VENTURE/17 15 3.2 09/12 12/12 16/12 U/12 21/12 STRAITS VENTURE /II IS 3.2 23/12 26/12 30/12 02/01 04/01 IWIST ASIA/MNOAL ROUP SYS VESSEL/VOT RAMP(KT) HEIGHT(M) YOK KEE KHH
      910 words

  • Page 27 Advertisements
    • 1043 27 MOL Combines 7 a range of shipping modes to ensure timely, reliable services covering major ports in North America, Europe, Japan, Asia, Africa Oceania. Abo accept htrr Asia Cargoes to: SUSAN KWANGYANG SHANGHAI YANTIAN XIAMEN QMGOAO lIUWAN JAKARTA SURABAYA KAOHSIUNC lANGKOK LAEM CHAIANG HOCHIMINH PASIR GUPANG PINANG PORT KHANC For
      1,043 words
    • 1328 27 VESSEL VOY SIN KG GOIDfH TRADE T4i lM TTtTT? I n/17 IS/17 I I I I NEW DYNAMIC Q7SA 17TT 11/12 [KUOUJNG ToQ?N I 14/*****/1? 17/1? H Ml M2_ I GOLDEN GATE 143SN 1 7g/l? 179/1? I 31/1? I -I- I HEW DYNAMK 076 A 23/12 25/12 •(jhjHHi-IMflrw *VSL both
      1,328 words
    • 1009 27 <& QtsilFA WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VESSEL VOY SIN P.KLANG COtOWIO N.SHEVA COLOMBO INDIRA GANDHI 0088W 30 NOV OMIT fiiM Q6M ILKL KAJIVGANDHI mm 07 DEC OMIT I? DEC 15 DEC 18 DEC BAY MIDGE OQ4W 13 PEC 15 PEC 18
      1,009 words

  • Page 28 Advertisements
    • 781 28 I/UAI WALLENIUS WILHELMSEN website: http://www.2wglobal.tom IVESSEL ~VQY RAMP HEIGHT SIN H( ~"MA0~ HOU» MIA SAV B*l ~QRf~ HY( ~NIW~ MOB TAMESIS AF424 320 Tons 6.4 M 19/12 08/01 19/01 26/01 27/01 31/01 30/01 02/01 23/01 TAMPA AfSOl 420Tms 6.4 M 01/01 24/01 02/02 09/02 10/02 14/02 12/02 16/02 06/02 TARAGO
      781 words
    • 1371 28 vqsti ¥91 sin pgu _ms£i m iin jkt PAC lANOA [3S7N OS/JJ 09/12 PAC lINTAH S2ZZ 09/12 12/12 CSf 2301 0067P 09/J2 11/12 PACIAU 1144 11/H 14/1? PAC I AMD* 13S8N 10/12 10/12 822 ft 14/12 17/12 PAC IANDA 1359 M n/12 12/12 PAC BMTAN 9278 16/12 19/12 I CSP
      1,371 words

  • THE BUSINESS TIMES SHIPPING TIMES
  • Page 29 Advertisements
    • 94 29 One-Stop Shipping Services Ship Registrations Ship Classifications Radio Accounting Tuvalu, Mongolia, Panama, Quality, Safety, Security SorvlCSS Belize and many other flags Surveys and Consultants Accounting Authority RSO6 Most competitive fees low wmgr j 24-hour efficient service, 365 days a year Worldwide network of surveyors Wpf, No restriction on nationality of
      94 words

  • PROPERTY
    • 667 30  -  As more property firms try to gain first-mover advantage in secondary cities, VINCE CHONG finds out the potential of such real estate VINCE CHONG lIOWING immense foresight, former deputy prime minis--4 ter Goh Keng Swee VL was already eyeing China's second- and W
      667 words
    • 677 30 Bloomberg I HONG KONG] Hong Kong's record US$2.7 billion sale of shares in its first property trust drew more than 200 people at a single bank branch within minutes of opening on optimism that the city's economic recovery will boost real estate prices. A
      Bloomberg  -  677 words
    • 415 32  -  By VINCE CHONG DEVELOPERS are slowing down on major property launches as the holiday season beckons, even as high-profile projects are pulling in sales. Capita Land is the latest to pull in the crowd for its Citylights condominium before Singaporeans embark
      415 words
    • 444 32  -  By ANDREA TAN THE prime office market appears to be stirring, and the latest talk is that Deutsche Bank will take up some 150,000 square feet of space at One Raffles Quay in early 2007, according to sources. The Deutsche Bank leasing deal
      444 words
    • 988 32  -  Trend expected to continue in 2005 and flow through to wider market as demand picks up and supply tightens in prime areas. KALPANA RASHIWALA reports KALPANA RASHIWALA [Mk RIMF office rents in Singapore are expected to end this year at S about $4.40
      Source: CB Richard Ellis Global Research & Consulting  -  988 words
  • Page 30 Advertisements
    • 174 30 1,-u.v BUTTER PRAWNS For a-la-carte diners only Singa Inn Seafood Restaurant JSJNGA £j S nas i parkwav, Singapore 44')8"5 .••fooa for rvwn urion: Tel: 6345 1111 Fax: 6345 2138 Business Hours 5.00pm 11.00pm I¥7l J 1 i i Presented Diners Club Credit Card to apply, C aa 6416 0980 Where
      174 words
    • 195 30 ~1 VVT Pico Prime Redevelopment Site p* Jj'cT 6 Next to Lavender MRT Station X/-;' jin c ßK •Site Area: 40,377 sq ft •GPR 6.36,24-storey Nft 5 /VA CP A J-T V, •Commercial Residential Zonin 9 Prominent frontage; Panaromic Bwg a view of Kallang Basin •Close proximity to CBD, PIE,
      195 words
    • 121 30 OFFICE SPACE AT THE HEEREN 260 ORCHARD ROAD From 700 to 7,700 sq ft Bare fitted units available Column free layout Raised flooring 5 mins. walk to Orchard Somerset MRT Magdalene 6839 7222 Jelena 6839 7223 Swee Cheng Management Pte Ltd PRIME OFFICE SPACE gi e 8 A p l
      121 words
    • 62 30 HOT IPO Get more investor interest. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. Notices MERITUS MANDARIN SINGAPORE Ik WINTER NUTRITIOUS BANQUET 1 31 Dec 2004 Reservations: 6831 6262/66 HSS CHINESE MERITUS MANDARIN A division of Overseas Union Enterprise Limited (Company Registration N0.19b40U050E) 333
      62 words

  • Page 31 Advertisements
    • 575 31 W-- */> 1 v B 1 —-1 HH' I' HPf z-.-ig-' I I Wft L r r! J i I A K? B I I n ,5T:«j •_•!_Ak I E Is your business outgrowing your IT system? Fujitsu makes your IT infrastructure remarkably Designed to make your entire system more
      575 words

  • Page 32 Advertisements
    • 212 32 MASTER OF PROPERTY Learn to put theories into practice with real-life problemsolving projects on real world situations. Our Master of Property program is a leading edge postgraduate course. With our unique student centred approach using Problem-Based Learning, students become analytical thinkers ready for the challenges of the real world. WORK
      212 words