The Business Times, 9 December 2004

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Total Pages: 36
1 36 The Business Times
  • 14 1 THE BUSINESS TIMES Thursday; December 9,2004 SINGAPORE mcwlT online at http://busincss-times.asial.com.sg MICA (P) 023/03/2004
    14 words
  • 1034 1  -  CAO, parent sued over collapsed SPC deal By KENNETH LIM [SINGAPORE! Police arrested the former boss of China Aviation Oil yesterday as a group of Indonesian investors sued the jet fuel supplier and its statecontrolled parent for more than $47.2 million
    AP  -  1,034 words
  • 137 1 STI 2.020.66 (+4.40) ST INDEX FUTURES 2,018.00 (-2.00) SIMSCI 241.06 (+0.74) SIMSCI FUTURES 241.30 (+1.30) MARKETS Wednesday Change KLSECOMP 902.30 -10.11 NIKKEI 225 10,941.37 +67.74 HANG SENG 14,022.32 -213.46 SET INDEX 645.41 -10.42 JAKARTA COMP 979.22 -7.19 MANILA COMP 1,801.18. +2.10 SEOULCOMP 871.74 +10.67 SHENZHEN B 238.90 +0.82
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  • 47 1 TOP STORIES PG 2 COMPANIES... PG 3-5 MARKETS PG 6 SINGAPORE ..PG 8,10 ECONOMY PG 13 M'SIA/INDON.. PG 14 CHINA/INDIA... PG 16 WORLD PG 19 AVIATION PG 20 SHIPPING PG 21 EDITORIAL PG 22 LETTERS PG 23 STOCKS PG 24-25 BIZIT PG 34 PROPERTY.. PG 35-36
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  • Page 1 Advertisements
    • 7 1 ECONOMY J® recession—again iiiiigi 8 *****1 *****4
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    • 27 1 AIRBUS-BOEING DISPUTE US, Europe heading for a showdown PG22 PROPERTY LAUNCHES 2005 rnSmmm Residential projects that are expected to hit the Singapore market next year >M iT»VJ]^IMi
      27 words
    • 105 1 Infotech companies join hands in grid X LUC TWIN Outstanding design for exceptional precision I.U.C TWIN. Self-winding chronometer, double spring barrel L.U.C "Twin", JF integrated rotor Guilloch6 dial, small centre seconds Wgßp I v i^ofeatc/ MANUFACTURE The L.U.C collection is exclusively available at selected watch specialists and Chopard Boutiques worldwide.
      105 words
    • 38 1 PROPERTY ABROAD CEOs upbeat about Malaysian market PG3S TROUBLE ATCAO $lb wiped off market cap of China firms pg 2 Details of Satya Capital's $47m lawsuit pg 3 S'pore banks' slow boat to China makes sense pg 3
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  • TOP STORIES
    • 865 2  -  TROUBLE AT CAO But impact on overall market has been largely contained By WONG WEI KONG [SINGAPORE] More than $1 billion has been wiped off the market value of Chinarelated stocks on the Singapore Kxchange (SGX) since the scandal at China Aviation
      865 words
    • 503 2  -  By ANTHONY ROWLEY in Tokyo REVISED official data published yesterday show Japan's economy barely escaped slipping back into recession in the six months to Sept 30. While a new basis of calculation showed deflation to be less severe than thought,
      AFP FILE PHOTO  -  503 words
    • 612 2  -  Outlook for 2005 still positive: industry execs By RONNIE LIM (SINGAPORE] Overheated crude prices have cooled in the fourth quarter, dragging product prices down in tandem. And and as a result, Singapore refineries have seen margins ease. Still, the outlook for next year
      612 words
    • 56 2 THF article 'Redhill, Tanah Merah sites available in HI 2005' (BT, Dec 8) was accompanied by a table headlined 'Appetising Spread for Developers', which showed that a site in Seletar Road is 'Already Available'. The Urban Redevelopment Authority has clarified that the site will bo made available only in
      56 words
    • 625 2 Indonesian investors file $47m lawsuit against CAO ALREADY reeling from the fallout from its trading scandal, China Aviation Oil (CAO) now faces a $47.2 million lawsuit by a consortium of Indonesian investors grouped under Satya Capital Ltd. In a writ of summons filed late on Tuesday against CAO
      625 words
  • Page 2 Advertisements
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      61 words
    • 22 2 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. [Notices]
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    • 74 2 Have breakfast on BT tomorrow Be among the first 2,000 readers to buy a copy of The Business Times tomorrow at Raffles Courtyard above the Raffles MRT Station, and you'll get a free breakfast box. The treat comprises an apple, a freshly baked muffin or scone; and a cup of
      74 words

  • COMPANY NEWS
    • 570 3  -  By JOYCE KOH SATYA Capital Ltd has filed charges of conspiracy against China Aviation Oil and its parent, China Aviation Oil Holding Company (CAOHC). The Indonesia consortium is accusing the two of working hand in glove to worm out of buying 88 million
      570 words
    • 472 3  -  TROUBLE AT CAO Satya's low-key parent Lyman, said to be worth US$500m-US$1b By SHOEB KAGDA in Jakarta ALREADY reeling from the fallout from its trading scandal. Singapore-listed China Aviation Oil (CAO) now faces a $47.2 million lawsuit by a consortium
      472 words
    • 525 3  -  HOCK LOCK SIEW By SIOW LI SEN THE implosion of China Aviation Oil (CAO), painful as it is to many small punters and also some bigtime investors, is probably a vindication of sorts of the three local banks' cautious strategy when it comes
      525 words
    • 343 4  -  Move comes after it recently raised Solitaire lawsuit provision by $200m By WONG WEI KONG DIVERSIFIED conglomerate SembCorp Industries (SCI) will return to shareholders half the special dividends and capital reduction distribution it will receive from its subsidiary SembCorp Logistics (SCL). SCL
      343 words
    • 113 4 Bloomberg SINGAPORE Technologies Engineering Ltd, South-east Asia's largest defence company, said its subsidiary won a US$2OO million order to supply laptop computers to the US Army. The company's US-based subsidiary VT Miltope will supply "rugged laptop computers to the army for five years under the
      Bloomberg  -  113 words
    • COMPANY BRIEFS
      • 75 4 HESHE Holdings starts trading today with a reduced par value of just three cents a share from 25 cents a share prior after a capital reduction exercise. The capital reduction was part of an investment agreement between Heshe and former
        75 words
      • 121 4 MAINBOARD-L1STED SNP Corp said it will sell its entire stake in wholly owned Australian subsidiary SNP SPrint (Australia) to Secure Expertise Pty l.td for AS3.08 million (S$3.9 million) in cash. The consideration was arrived at on a willing-buyer. willing-seller basis. SNP acquired SPrint
        121 words
      • 121 4 ARIANECORP has given shareholders the right to subscribe for 205.5 million new warrants at an issue price of three cents apiece on the basis of two warrants for every five shares. The warrants, which expire after five years, are exchangeable for one share each at
        121 words
      • 81 4 HUAN HSIN Holdings said it sold its entire 12.5 per cent stake in Shanghai Long Fong Foods Co for 45.7 million yuan (559.04 million) in cash to another shareholder of Shanghai Kong Fong, a frozen food company Huan Hsin
        81 words
    • 379 4 Expected delivery of oil rig to Qatar customer in '06 KEPPEL Corp's wholly owned subsidiary Keppel Fels has won an order valued at US$llO million to build an oil rig for Gulf Drilling International Ltd (GDI) of Qatar. The oil rig is
      FILE PHOTO  -  379 words
    • 34 4 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
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    • 465 5  -  It issues profit warning, makes $1.25m one-time provision By JOYCE KOH AFTER Informatics, another education company Auston International came out yesterday to say it has overstated its profits and has also issued a profit warning. A restatement would mean earnings for the 12
      465 words
    • 487 5  -  By SAMUEL EE STAMFOBI) Tyres* interim profit has fallen 49 per cent to $3 million for the first half because of what the mainboard-listed company called "investments for the future". Singapore's biggest distributor and retailer of tyres and rims yesterday said total revenue for
      FILE PHOTO  -  487 words
    • 283 5 [SINGAPORE] A home-grown ship chartering company is eyeing a listing on Sesdaq with plans to expand its fleet and capitalise on soaring vessel charter rates. Vita Holdings Ltd has lodged preliminary papers with the Monetary Authority of Singapore and hopes to list on
      283 words
  • Page 3 Advertisements
    • 76 3 S HE MANUFACTURE COMES TO YOU For the first time, the Manufacture Jaeger-LeCoultre presents this exhibition. Share the passion of time and discover the real meaning y of watchmaking art THE MANUFACTURE COMES TO YOU~| Exhibition from 9-12 December 2004 Civic Plaza, Ngee Ann City <Jaeger-leCoultrp For more Information please
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  • Page 5 Advertisements
    • 68 5 Regent Motore Limited 23 Leng Kee Roed Singapore *****5 Tel: 6479 7277 wwwcnd™.^ ,v v v '■4 1 <• k A jtfMk ■Btv. KSfRj; J 1 You name I ln act# no ther an array of techno, °9y jwv if Every aspect New Freelander 'i has been developed to make
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  • SINGAPORE MARKETS
    • 544 6  -  STOCKS Some China-related stocks continue to wilt under selling pressure; telecom firms badly hit by profit-taking TEH HOOI LING Senior Correspondent THE valiant but failed attempt yesterday of the Straits Times Index (STI) to recover all and more of Tuesday's loss has marked a
      Source: Bloomberg  -  544 words
    • 1080 6  -  Compiled by JOYCE KOH Del Monte Pacific Dec 8 close: 70 cents OCBC INVESTMENT RESEARCH, Dec 8 DEL Monte Pacific (DMP) made an updated announcement on the status of Cirio's 39.9 per cent stake in DMP. As a recap, the Italian-based Cirio has run into financial difficulties, and
      1,080 words
    • Article, Illustration
      440 6 OTHER SINGAPORE INDICES Dec 8 VALUE CLOSE BT OB/OS -535.00 -109.00 BT CADI -*****.00 -66.00 BT 10-day MA -*****.00 -53.00 All-SG Equities 519.12 +0.84 SG Equities Elect 158.43 -0.44 SG Equities Fin 1595.97 +3.45 SG Equities Prop 502.73 -3.70 SIMSCI 241.06 +0.74 SiMSCI Futures 241.30 +1.30 MOST ACTIVE STOCKS VOLUME
      440 words
    • 323 6 CURRENCIES Japan's revised GDP data not a surprise for investors AFP [TOKYOI The US dollar edged up against the yen in Asian trade yesterday as investors easily digested Japan's revised third-quarter gross domestic product (GDP) data which showed little change from before, dealers
      AFP  -  323 words
    • TRADES TO WATCH
      • 64 6 SEMBCORP Logistics' non-executive chairman Wong Kok Siew (above), also the chief executive of SembCorp Industries, yesterday exercised options for 90,000 shares at about $1.84 apiece, and 50,000 shares at $1.50 apiece. This gave the director a direct stake of 140,000 shares, or 0.16 per cent, in
        64 words
      • 120 6 SUBSTANTIAL shareholder San's Rent-A-Car saw its deemed and direct stake of about 5.03 per cent in Asiatravel.com Holdings trimmed to 4.87 per cent on Monday after the sale of 300,000 shares on the open market. Chief executive Ang Hock Hai, who has a direct stake
        120 words
      • 102 6 IN the second announcement this week. Guthrie GTS executive chairman Putra Masagung's deemed stake rose on Monday after 245,000 shares were bought through a nominee account at 20 cents each on the open market. The deemed holding of the director who also has
        102 words
      • 75 6 MUN Hong Yew. the president and chief executive of Aztech Systems, raised his direct stake in the company from 2.9 per cent to 2.95 per cent after buying 200,000 shares at nine cents each on the open market on Monday. Mr Mun also
        75 words
      • 64 6  -  Compiled by JEAN CHUA GAY Chee Cheong of 2G Capital bought 100,000 Midas Holdings shares at 32 cents each on the open market yesterday, raising the non-executive director's direct stake to 2.82 per cent from 2.81 per cent. Midas is a China-based aluminium and
        64 words

  • BLUE CHIPS
    • 740 7  -  But analysts say 2005 will be volatile year especially for commodities, reports JEAN CHUA JEAN CHUA NOBLE Group is one of those companies more people shrould know about. Long an institutional favourite, the stock rose from a 52-week low of 71.75 cents in September 2003 to a high
      Source: Bloomberg; FILE PHOTO  -  740 words
  • Page 7 Advertisements
    • 96 7 Oirlllih %|lw blends CwiUftahmds X WtIIBMW ■szmmm 1 j in iiiiiiiiiii.i l .m -U~.~ £mtnoM Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate planning. For further information and immediate service please contact:, Florence Nathan or Marie Lim
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    • 155 7 Delighting You Always HERE'S TO MANY MORE YEARS OF GREAT MEMORIES. Whether we create products that let you J CANON 251H ANNIVERSARY capture memories, share them, or enjoy an APPRECIATION DRAW easier life, our aim has always been to make From 10 Nov ealber 2C04 2S February 2005, you'll" stand
      155 words

  • SINGAPORE NEWS
    • 362 8  -  EIU sees flat overall sales next year, and 1.9% growth in 2006 By SAMUEL EE AS EXPECTED, Asia excluding Japan will be the fastest growing automotive region in the next decade but the global outlook for 2005 is that it won't
      362 words
    • 200 8 PASSENGER car COEs bounced back up yesterday after a slightly longer than usual interval between tenders. Premiums for a certificate of entitlement in Categories A and B -r- small cars and big cars returned to almost the same level they were at two tenders
      200 words
    • 368 8  -  By NANDE KHIN THE chairman and managing director of eSys Technologies, Vikas Goel, was among the recipients of the inaugural Singapore Indian Entrepreneur Awards last night. Mr Goel won in the Large Enterprise category, while in the Medium Enterprise category, V S Kumar, managing director
      CHRIS LOH  -  368 words
    • 310 8  -  By NANDE KHIN GOT a good business idea to propose to a public agency? Then be quick. Because if your idea hasn't been suggested before, you'll get first-mover advantage when bidding to use public assets for it. The first-mover framework
      310 words
    • 420 10  -  Project aims to help local organisations partner European bodies on IST By ROLAND LIM THE European Commission (EC), the executive body of the European Union (EU), has set aside 1.8 billion euros (553.95 billion) for research grants for collaborative information society
      420 words
    • 504 10  -  By NANDE KHIN MANY Singapore-based companies which send employees on overseas travel or which have employees stationed overseas are still not providing the proper crisis and risk management for these employees, said David Cameron, the security director (Asia Pacific) for International SOS. International
      CHRIS LOH  -  504 words
    • 266 10  -  By ANDREA TAN A SLEW of senior government appointments were announced yesterday and will take effect from Jan 3. Tan Ching Yee, deputy secretary (infocomm and media development) at the Ministry of Information, Communications and the Arts and chief executive of the InfoComm Development
      266 words
  • Page 8 Advertisements
    • 190 8 Vorsprung durch Technik www.audi.com.sg |r n„ Audi 1 i M > ~*°~W*m^> mi J*} Have you ever experienced the feeling of being behind the wheel of what can only be justified as poetry in motion? Have you ever enjoyed the pleasure of being wrapped in luxury and pampered with award-winning
      190 words

  • Page 9 Advertisements
    • 1069 9 2<r- Canon Delighting You Always 25 Years In Singapore, 25 Years Of Spectacular Growth. A Message From Mr Fujio Mitarai m Wherever we are in the world, one thing stays constant K MgSSQQ6 FrOftl Mr Hldeki OZQWQ at Canon. And that is our corporate philosophy of i( kyoset Canon Singapore
      1,069 words

  • Page 10 Advertisements
    • 366 10 Chinese J Lettuce symbolizes m growing f AND REAP YOUR INSTANT REWARD NOW!. g. ifijpj ||j J^Jj These rewards and more when you invest with us. It's how you spot the sprout. The determining factor of every promising investment is the potential behind it. Maybank's Unit Trusts feature a choice
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  • Page 11 Advertisements
    • 104 11 V I The world's N0.2 holder of U.S. patents. For Canon, originality counts. j LV I B i iMii-Mtri- rAiii I a a 3 I ij. V 'll|HHhhhhhhhmhmhhhhmhhhhm||K*~' 4-l l I ***** Canon Inc. As a company dedicated to originality, Canon obtained 1 992 patents in 2003. Indeed the company
      104 words

  • FOCUS: SERVICES
    • 782 12  -  ENGINEERING SERVICES Companies in the engineering services sector must leave Singapore to survive, SembCorp Engineers and Constructors CEO tells KENNETH LIM KENNETH LIM SINGAPORE'S engineering services industry continues to grow as local companies seek new markets and foreign investors are drawn by
      FILE PHOTOS  -  782 words
  • Page 12 Advertisements
    • 216 12 Luxury hotels and prime properties Prime Commercial Complex for sale in Malaysia 77,804 sq. ft. commercial complex Penang Plaza Investors, developers and entrepreneurs will find this (adjoining Sheraton Penang), Penang Island choice selection of prime properties a rare opportunity Indicative sale price: RM 30 million offering great returns on investment
      216 words

  • ECONOMY WATCH
    • 610 13 He says govt paying a higher price for keeping exchange rate unchanged Reuters [BEIJING] Bolstering officials who want China to change its currency regime sooner rather than later, a senior economist at a cabinet think-tank says the time is almost right for China
      Reuters; BLOOMBERG FILE PHOTO  -  610 words
    • 656 13  -  Weaker exports contribution unlikely to be counterbalanced by firm consumer demand By RAFAELLA TENCONI THE recent release of Thai GDP growth completes the picture of the smaller Asian economies' performance in the third quarter. Although individually these countries remain relatively small, their aggregate GDP is
      Source: Lombard Street Research  -  656 words
    • 265 13 AFP [SHOULI Foreign direct investment (FDI) in South Korea is bouncing back this year as overseas funds flow into finance mergers and acquisitions or start new projects, officials said yesterday. FDI reached US$lO billion as of Nov 26 and it
      AFP  -  265 words
  • Page 13 Advertisements
    • 576 13 ''1 rIB WT 7 'T^gl 1. W MQfrQg**Sf<qriri -?K9<*.. V• ..<• ■i_ This festive season, 2.18%, on your Singapore Dollar Time Deposit is simply outstanding. It's the season for giving, and we're celebrating by offering an attractive interest rate of up to 2.18% p.a.* for a 3-month Singapore Dollar Time
      576 words

  • MALAYSIA/INDONESIA
    • 486 14 Slowing global economic growth paring demand for semiconductors Bloomberg [KUALA LUMPUR] Malaysia's industrial production had its smallest gain in almost two years in October as slowing global economic growth pared demand for semiconductors made by Unisem (M) Bhd and Malaysian Pacific Industries Bhd.
      Bloomberg  -  486 words
    • 154 14 Reuters [JAKARTA] The world's largest instant noodle maker, PT Indofood Sukses Makmur, plans to redeem US$2BO million in Eurobonds issued by its Mauritian unit, the firm said in a letter to the Jakarta Stock Exchange. Indofood said the buyback plan was drawn up after the
      Reuters  -  154 words
    • 77 14 AP [JAKARTA] Indonesia's new Chief of State Intelligence Agency Sjamsir Siregar (left) talking with President Susilo Bambang Yudhoyono (centre) and the top security minister Widodo Adi Sucipto (right) after his swearing-in ceremony at the presidential palace in Jakarta yesterday. President Yudhoyono on Wednesday inaugurated the retired
      AP  -  77 words
    • 325 14 It'll produce power, logic chips for car, industrial sectors Reuters [FRANKFURT] Infineon will invest US$l billion to build a new plant in Malaysia making non-memory chips, the German chipmaker said yesterday. Infineon said the plant would produce mainly power and logic chips
      Reuters  -  325 words
    • 208 14 Reuters IKUAIA LUMPUR] Malaysia's SapuraCrest Petroleum Bhd said on Tuesday it has won a US$37.B million contract from Brunei Shell Petroleum Company Sdn Bhd to install a platform in one of Brunei's main oil and gas fields. The deal, the firm's largest overseas contract
      Reuters  -  208 words
    • 253 14 AFP (JAKARTA] Indonesian lawmakers have rejected a proposed sale of the country's majority stake in cement manufacturer Semen Gresik to Mexico's Cemex SA, over concerns of foreign investor dominance in the local building materials sector. Indonesian legislators voted late on Tuesday
      AFP  -  253 words
  • Page 14 Advertisements
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    • 23 14 HOT IPO Get more investor interest. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. f 1 "■*< INoticesl
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  • Page 15 Advertisements
    • 43 15 ih El online jCUi nUD s Push Mail by Star Hub. The way to better business solutions. 1800-888 8888. www.starhub.com/business MEETING THE NEEDS OF YOUR BUSINESS WITH: MOBILE IDD DATA IP/INTERNET MOBILITY SOLUTIONS INFORMATION AND ENTERTAINMENT SOLUTIONS MANAGED SERVICES SECURITY SERVICES BUSINESS SERVICES
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  • GREATER CHINA/INDIA
    • 589 16 More firms may go abroad in China's investment shift to predator from prey Bloomberg [BEIJING] Lenovo Group Ltd's US$l.25 billion purchase of IBM Corp's PC business, the biggest overseas acquisition by a Chinese company, may signal an investment shift in China to
      Bloomberg  -  589 words
    • 4 16
      4 words
    • 368 16 Sources: Reuters/Bloomberg Before the latest Lenovo deal with IBM this week, Chinese companies' overseas merger and acquisition activity this year stood at USs2.sb. This includes purchases in Hong Kong and Macau and is up from USs2.2b in all of 2003, according to Dealogic. TECHNOLOGY 2004 Lenovo Group
      Sources: Reuters/Bloomberg; Ben Cruz  -  368 words
    • 421 16 They were boosted by foreign fund inflows falling oil prices Reuters (NKW DELHI] Indian equity mutual funds posted strong gains in November as investors lapped up stocks boosted by record foreign fund inflows and falling global crude oil prices. Data from fund
      Reuters  -  421 words
    • 367 16 Reuters, Bloomberg [SHANGHAI] China will grant long-ignored small investors a bigger say in major corporate actions from stock sales to acquisitions, yielding to mounting public opposition to state shareholders deciding everything. Regulations, outlined in September but formalised and taking effect yesterday, require
      Reuters,; Bloomberg  -  367 words
    • 390 16 Bloomberg [HONG KONG] Refiners and other oil companies from South Korea and China, countries that rely on the Middle Fast for 80 per cent of their crude oil imports, say they may jointly buy and stockpile oil to reduce costs. SK Corp,
      Bloomberg  -  390 words

  • Page 17 Advertisements
    • 483 17 FRANKLIN OFFSHORE CELEBRATES 20™ ANNIVERSARY From our inception, our objective is to be the Best in product, quality and service. We have achieved our objective not only in Singapore, 1 but also internationally. On this special occasion, we would like to thank our valuable clients, principals, suppliers, business associates and
      483 words

  • ASIA-PACIFIC
    • 808 18  - What lies in Japan's future ASIA INSIGHT It may not be doomed to decline in Asia with China's rise ANTHONY ROWLEY Tokyo Correspondent The question of where Japan is headed as a power in Asia and in the world is posed almost incessantly and the conclusion is usually drawn that
      808 words
    • 412 18 FT [LONDON] Bryan Sanderson must be wishing he had been a little less specific. In February, the Standard Chartered chairman penned a letter to shareholders in which he outlined the bank's expansion prospects. In Stanchart's 2003 annual report, he said there were
      FT; REUTERS  -  412 words
    • 232 18 Reuters [TOKYO] Electronics conglomerate Sony Corp said yesterday it will start making driver chips for liquid crystal display (LCD) televisions and use them with panels produced by its LCD venture with Samsung Electronics. Sony currently procures all of its LCD
      Reuters  -  232 words
  • Page 18 Advertisements
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  • WORLD
    • 481 19 Ernst Young faces probe by SEC It developed financial product used by US bank to inflate profit Bloomberg I NEW YORKI The US Securities and Exchange Commission (SEC) is investigating Ernst Young I I P for its role in designing and then auditing a financial product that a US bank
      Bloomberg  -  481 words
    • 70 19 AFP [STUTTGART] Wendelin Wiedeking. the chairman of Porsche, the German maker of luxury sports cars, sits at the wheel of a Porsche 911 Cabriolet, yesterday in Stuttgart, ahead of the results press conference. He said that Porsche sold a total 23.546 cars worldwide in the first four
      AFP  -  70 words
    • 255 19 It sees selling prices for its hard drives rising in quarter Reuters. Bloomberg (SEATTLE] Seagate Technology on Tuesday raised its quarterly revenue and profit forecasts for the December quarter on strong seasonal demand for newer products, surpassing analysts' forecasts. The top US maker
      Reuters.; Bloomberg  -  255 words
    • 442 19 NYT [NEW YORK] The California Public Employees' Retirement System (Calpers), the largest US pension fund, disclosed for the first time on Tuesday how much it paid the venture capitalists, hedge fund managers and others who handle its riskiest specialised investments, and how well
      NYT  -  442 words
    • 182 19 Bloomberg [DUBAI] South Koreas Samsung Corp and partners have won a contract to build the world's tallest skyscraper in Dubai, a Persian Gulf emirate in the midst of a construction boom. South Korea's thirdlargest trading company is partnering Besix SA, the construction
      Bloomberg  -  182 words
  • Page 19 Advertisements

  • AVIATION
    • 872 20  -  Group has invested $500m so far in 12 joint ventures with global players By VEN SREENIVASAN [SINGAPORE] Singapore's ability to position itself as a regional aerospace MRO (maintenance, repair and overhaul) hub depends on its ability to develop a sufficiently large cluster of competent players
      872 words
    • 310 20 Reuters [HANOI] Vietnam Airlines said yesterday it has signed a contract to buy 10 Airbus A 321 aircraft to be delivered between 2006 and 2009 as part of its ambitious fleet and route expansion programme. "Under this contract, the first Airbus A
      Reuters  -  310 words
    • 385 20 AIRLINE CODES: AA: American Airlines (AAL), AF Air France (AFR), AI: Air India (AK), AY Finnair Oy (FIN), AZ: Alitalia Airlines (AZA),BA: British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR EVA
      385 words
    • 352 20 AFP. Reuters [SYDNEY] A Virgin Atlantic Airbus 340-600 touched down here yesterday on its inaugural flight from London to Qantas and BA on the fiercely competitive "kangaroo route". Virgin's founder Richard Branson, who arrived in Sydney to promote the launch, conceded it
      AFP.; Reuters; AP  -  352 words
    • LOG BOOK
      • 103 20 Bloomberg INEW DELHI] The Wadia family of India, which owns stakes in a textile company and a cookies maker, won approval to start a discount carrier in India where demand for air travel is rising. The Mumbai-based Wadia group secured the approval of India's
        Bloomberg  -  103 words
      • 111 20 Bloomberg [NEW DELHI] Air India Charters, the low-cost airline unit of*lndia's biggest overseas carrier, plans to buy 18 Boeing 737-800 planes worth as much as US$l.2 billion to start services to countries in the Middle East and Southeast Asia. The aircraft has
        Bloomberg  -  111 words
      • 117 20 Bloomberg [SEOUL] Korean Air Lines, South Korea's largest air carrier, said it won a legal battle with the government that suspended its cargo business on the SeoulShanghai route following a crash in 1999. Seoul-based Korean Air had its licence to operate freight services
        Bloomberg  -  117 words
      • 144 20 AFP [SHANGHAI] China Eastern Airlines, one of the country's top domestic carriers, has secured US$9O million in financing from six foreign lenders to fund daily operations and the leasing and buying of jets, state press reported yesterday. "The loan will be used to replenish
        AFP  -  144 words
    • 205 20  -  VEN SREENIVASAN [SINGAPQRE] Air Asia's Indonesian associate PT AWAir International has taken to the skies again after being ground for over two years. It has started test-flying on domestic routes using its 148-seater Boeing 737-300 aircraft. Malaysia's Air Asia bought a 49 per
      205 words

  • SHIPPING
    • 517 21  -  It makes US$1.4b surprise offer for CSX's global terminal assets By DONALD URQUHART [SINGAPORKI Bidding for the global terminal assets of CSX Corp could top US$l.4 billion after the Dubai Ports International (DPI) emerged as a surprise contender, substantially upping the
      517 words
    • 422 21 AP [ANCHORAGE, Alaska] Another cruise ship company is to plead guilty to discharging untreated sewage from one of its ships while docked in Juneau harbour of this scenic Alaskan region, popular with tourists on cruises. The US Attorney's office here said that in
      AP; FILE PHOTO  -  422 words
    • 417 21 Bloomberg [SINGAPORKI The cost of shipping crude oil from the Persian Gulf to Asia may rise by the end of the week as oil companies start to book ships to load oil in January. Freight rates for two-million-barrel tankers, known as very
      Bloomberg  -  417 words
    • 181 21 Bernama IDUBAI] Dubai Ports Authority (I)PA) has recorded a 24 per cent growth in cargo throughput for the first 11 months of 2004. It is well on its way to handle 6.4 million 20-foot-equivalent units (TKUs) by yearend, said Anwar Ahmad Wajdi, executive director
      Bernama  -  181 words
    • 194 21 AP [PHILADELPHIA] A Greek tanker that spilled almost half-a-million gallons of crude oil into Delaware River last month apparently gashed its hull on a discarded pipe protruding from the river bottom, the US Coast Guard said on Tuesday. Sonar tests on Saturday located
      AP  -  194 words
    • 335 21 SGX '000 Dec8 SS W Vot CH Offshore 0 38 unch 354 Chuan Hup 0.64 -0.01 2077 Cosco Corporation 1.03 -0 04 ***** CWT Distribution 0.56 unch 95 EzraHldgs 1.15 002 56 Freight Links 0.09 unch 690 Grand Banks Yacht 092 001 47 Java Holdings 102 unch 1381
      335 words
    • 864 21 Reuters Bloomberg [PANAMA CITY] Panama plans to change the way it charges container ships using its canal in an effort to increase revenues. The Panama Canal Authority has proposed charging ships according to their container-carrying capacity, which would lead to a projected
      Reuters; Bloomberg; AFP  -  864 words

  • EDITORIAL & OPINION
    • 521 22 EDITORIAL WHITHER 3G? Third-generation (3G) mobile technology, which pushes data onto mobile phones at broadband speeds, is being touted as the next big wave in global telephony. So one would think that Singapore's three major telecom operators that each paid a handsome
      521 words
    • 790 22  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent THE battle to head the Geneva-based World Trade Organization (WTO) may yet turn out to be an exciting affair. With the organisation's current director-general, Thailand's Supachai Panitchpakdi, set to step down at the
      790 words
    • 839 22  -  In the Airbus-Boeing competition dispute, US must take a firm stand against Europe ROBERT SAMUELSON The Washington Post Writers Group HE United States and Europe are edging towards their biggest trade dispute ever and the United States shouldn't blink. The dispute involves competition between Boeing and Airbus,
      The Washington Post Writers Group  -  839 words
    • 1283 23  -  Beijing's thirst for commodities like oil is fuelling its links with a continent that has long been neglected by the West By JOHN MURPHY LAT-WP CHINESE businessman Hansen Luo came to Africa eight years ago to seek his fortune and found it under a mountainside
      LAT-WP; REUTERS  -  1,283 words
    • 251 23  -  LETTERS TO THE EDITOR V N Ratnam Singapore I REFER to the Citibank advertisement which appeared in The Business Times on Dec 6 with the tagline: "This festive season, 2.18% pa* on your Singapore dollar time deposit is simply outstanding." The first two sentences of the
      251 words
    • 522 23  -  Ee Teck Siew Singapore THE Government has announced that civil servants can expect to receive 2.25 months of bonus this year, which consists of a 13th month annual wage supplement (AWS), one month's annual variable component (AVC) and a one-off 0.25 month special
      522 words

  • Page 23 Advertisements
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  • Page 23 Miscellaneous
    • 215 23 CRYPTIC CROSSWORD 31 His job is evidently elevating 9 The girl's mother takes unusu- YESTERDAY'S SOLUTION DOWN ally hot pride in being bisexual Across: 1 Adjacent 5 Barbed, 10 2 To tackle this crossword is be- (13) Incidental music. 11 Essence, 12 neath Jack forgive him! (7) 15 Silly Annie
      215 words

  • 3592 24 STRAITS TIMES INDEX STOCKS MM wt OIM dwi MKt— wt am r»mi 030 1.070 .0020 NCX 213 2980 *0J1Q UL Ml UUOr 0.45 0 965 -0015 OCBC Ml ***** -0 100 CtpHMm* 1* 2020 -0010 PirtvwyMgc O f* <50 ♦0040 Q»t 5wT»Cond 2fc 0W 1.0*0 P»op*s food HKSOc
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  • 2730 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES HIIMJIcwt lii IS laUtS S \fT S dy y dy *f Pk7 tndOT Ch«ng« Chang* OjWg OlJ* gjjg Ownga WoridwdatftiHnannv 834.3 0.0 73 HO 6.1 HO 103 7U6 0.0 7 5 0j0 10.1 0.0 14.4 1041JK 04 71 M 11J 04 15.7 pggk
    2,730 words

  • SINGAPORE INDIAN ENTREPRENEUR AWARDS 2004
    • 775 26  -  The 10 finalists of the inaugural Singapore Indian Entrepreneur Awards reflect the changing profile of S'pore's ethnic Indian entrepreneurs, says VIKRAM KHANNA VIKRAM KHANNA TWO of them Royal Sporting House and Mustafa are top retailers that have become household names. Another company, eSys, makes the
      V PALANISAMY/TAMIL MURASU  -  775 words
    • 711 26 Compiled by BT Singapore Indian Chamber of Commerce Industry 1924: Bhujangilal Mehta convenes the first meeting to establish an organisation of Indian merchants in Singapore. The Indian Merchants Association is thus founded with 30 members, most of them traders. 1935: The Association's name is changed
      Compiled by BT  -  711 words
    • 376 28  -  THE FINALISTS: CATEGORY 1 LARGE ENTERPRISE MUSTAQ AHMAD Mohamed Mustafa Samsuddin Co Pte Ltd Vince Chong MAJORITY stakeholder and managing director Mustaq Ahmad has led Little India retail giant Mohamed Mustafa Samsuddin Co into the new millennium by expanding the business and introducing, among other things, technological
      376 words
    • 423 28  -  JAGDEV SINGH GILL RSH Limited Vince Chong NOT satisfied with pioneering the growth of the Asian sporting goods industry three decades ago. Royal Sporting House (RSH) managing director Jagdev Singh Gill has continued bringing to the region brands like Zara, Mango and Bebe to
      423 words
    • 380 28  -  VIKAS GOEL eSys Technologies Pte Ltd Raju Chellam WOULD you like to buy a full-fledged personal computer for just $439? You can, at NTUC Fair Price in Singapore. The PC is offered by a little-known Singapore company called eSys Technologies, founded and run by Vikas
      380 words
    • 378 28  -  KANNAPPAN CHETTIAR The Stansfield Group Pte Ltd Jean Chua IN 10 years. Kannappan Chettiar turned the small education business he founded in an HDB estate into one of the top names in the industry. The chairman and chief learning officer of The Stansfield Group wanted to bring
      378 words
    • 318 29  -  THE FINALISTS: CATEGORY 1 LARGE ENTERPRISE NIMESH D PARIKH smartBridges Pte Ltd Andrea Tan GOING wireless has proven to be the smart way for Nimesh D Parikh. Since starting smartßridges Pte Ltd in 1999, Mr Parikh has seen the company's revenues leap over 10-fold and garner a
      318 words
    • 322 29  -  TENNUR NAGARAJAN NARAYANAN Ferco Shutters Pte Ltd Eddie Toh TENNUR Nagarajan Narayanan is not someone who will head for the exit at the first sign of trouble. The general manager of Ferco Shutters seized the opportunity to own a slice of the door-making business some four years
      322 words
    • 297 29  -  CATEGORY 2 MEDIUM ENTERPRISE V S KUMAR Network Express Courier Services Pte Ltd Roland Lim FOUNDER and managing director of Nptwork Express Courier Services V S Kumar is not called the "Courier King" for nothing. One of this year's Singapore Indian Entrepreneur Award finalists, Mr
      297 words
    • 307 29  -  CATEGORY 3 YOUNG ENTREPRENEUR XAVIER CHRISTOPHER CLIVE Origem Solutions Pte Ltd Roland Lim DESPITE having to face tough competition in the IT consulting industry against established giants, Xavier Christopher Clive's two-year-old Origem Solutions has emerged with a sizeable slice of the pie. Today,
      307 words
    • 322 29  -  SEVUGAN ALAGAPPAN Friar Tuck Pte Ltd Vince Chong AMERICAN space agency Nasa has used his solutions while the National Infocomm Award has awarded his company Friar Tuck the Most Innovative Infocomm Products/Services accolade. Friar Tuck's 26-year-old co-found-er and chief operating officer Sevugan Alagappan, who
      322 words
    • 262 29  -  V SIVA Caltek Pte Ltd Andrea Tan V SIVA runs a calibration business but even by his own calculations, the 34-year-old didn't expect his company to be this successful. "I had the confidence the company would do well but certainly not at this speed," Mr Siva,
      262 words
  • Page 26 Advertisements
    • 457 26 J 1924 2<M>4 The Singapore Indian Chamber of Commerce Industry on its 80th Anniversary the launch of the inaugural SICCI-DBS Singapore Indian Entrepreneur Awards Agrocorp International Pte Ltd Mohan Management Consultants Pte Ltd #22-01 /02 Chinatown Point 133 New Bridge Road Singapore *****3 1 North Bridge Road #19-08 High Street
      457 words
    • 37 26 CONGRATULATIONS TO SINGAPORE INDIAN CHAMBER OF COMMERCE INDUSTRIES ON ITS 80TH ANNIVERSARY OUTBACK ADDRESS: TIME 2 MILLENIA WALK 9 Raffles Boulevard, #01-99 to #01-101, #01-114 to #01-120 SINGAPORE Phone (65) 6 *****42 Fax (65) 6 *****41 www.outback-sea.com
      37 words

  • Page 27 Advertisements
    • 178 27 On the occasion of its 80th Anniversary 1 The Singapore Indian Chamber of Commerce Industry Congratulates the Winners &C Finatists of the SICCI-DBS Singapore Indian Entrepreneur Awards 2004 ll' II i j SICCI DBS H I Singapore Indian f| Entrepreneur Awards 2004 O Category 1: Large Enterprise Category 2: Medium
      178 words

  • Page 28 Advertisements
    • 91 28 j Co.Pte Ltd C'ADffi /II JmU (J Makers of premium crystal gifts we also specialize in 2D 3D photocrysta! v Corporate Gifts Islamic Artifacts J \AA D is proud to sponsor 1 W| J/iU D all Trophies Gifts f for the Inaugural launch of the \lf Singapore Indian Entrepreneur Awards
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  • Page 30 Advertisements
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  • Page 31 Advertisements
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    • 929 31 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VKSIL VOT SIN PJHAN6 COLOMBO N. SHIVA COLOMBO ttJIVGAMDW OOMW 06 DEC OMIT 13 PK 16 DK UPK lAY HIDGE 004W 13 PK 15 DEC II DEC 21 PEC 24 PK MIELM2 QOO2W 20 DEC 2?
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  • Page 32 Advertisements
    • 681 32 UMlIf wallenius wilhelmsen website: http://www.2wglobol.com VKSa VOY lAW UC MAO HOW MIA SAV W W NY< iW MOO TAMESIS AM24 320Tmi 4.4 M I 19/12 M/ 01 19/01 26/01 27/01 31/01 30/01 02/01 23/01 TAMPA AfSOl 4201ns 6.4 M I 01/01 24/01 02/02 09/02 10/02 14/02 12/02 14/02 04/02 lARAGO
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  • BizIT
    • 663 34  -  RAJU CHELLAM Project MegaGrid from Dell, EMC, Intel, Oracle promises computing at low cost, reports RAJU CHELLAM from San Francisco FOUR large US-based infotech companies Dell Inc, EMC Corp, Intel Corp, and Oracle Corp have come together to form Project Mega Grid,
      AP FILE PHOTO  -  663 words
    • 392 34  -  25,000 delegates, 300 exhibitors at Oracle Open World By Raju Chellam in San Francisco THERE are no gimmicks, few freebies and almost no gizmos other than exhibitors offering visitors a chance to win Apple iPods. Yet, the Oracle OpenWorld exposition is turning out to be
      392 words
    • 355 34 Bloomberg [SAN FRANCISCO] Michael Dell said a possible combination of IBM Corp's PC unit and Lenovo Group isn't likely to succeed. "When was the last time you saw a successful merger or acquisition in the computer industry?" Mr Dell told reporters at Oracle Open World
      Bloomberg  -  355 words
    • 352 34  -  By ROLAND LIM COMPUTER hardware giant Dell Inc announced its entry into the printer and consumer electronics market in Singapore on Tuesday with the launch of two multi-function inkjet printers and a liquid crystal display (LCD) television. Despite having to compete against market leaders
      352 words
    • 322 34 AP [CHARLOTTE, North Carolina] Intel Corp chief executive officer Craig Barrett said on Tuesday that the company has "recovered" from product missteps that plagued the chip maker during the first half of the year. "I think the machine is firing on all eight
      AP  -  322 words

  • PROPERTY
    • 446 35  -  Landed property still preferred, with more interest in shophouses, offices By PAULINE NG in Kuala Lumpur MALAYSIAN property prices dre expected to improve or at least remain stable next year, according to a poll of chief executive officers. The CEO Opinion Survey 2005 by property
      446 words
    • 484 35 They are taking 13% longer saving for a deposit than early in the year Bloomberg FIRST-TIME buyers in the United Kingdom are taking 13 per cent longer saving for a deposit than at the beginning of the year after house-price growth
      Bloomberg; BLOOMBERG  -  484 words
    • 319 35 Reuters [SYDNEY] Australian property buyers took out fewer home loans for the second straight month in October, reinforcing the central bank's decision to leave interest rates unchanged for a twelfth month yesterday. The volume of housing finance excluding investors fell 0.2 per cent
      Reuters  -  319 words
    • 1147 36  -  Oversupply may mean non-landed prices may inch up no more than 5 per cent next year, KALPANA RASHIWALA reports KALPANA RASHIWALA A LISTING of possible project launches for 2005 compiled by Knight Frank shows that of the 9,700plus private homes, only about 580 are
      1,147 words
    • 1320 36 PROJECT NAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREET NAME TYPE DATE AREA*(SQFT) (SS'OOQ) (St) District 04 NON-LANDED Caribbean At (Ceppe) Bay Apt 20/09/2004 99 1572 1116 710 Teresa Ville Apt 13/10/2004 FH 1959 800 408 District 08 NON-LANDED Rangoon
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  • Page 35 Advertisements
    • 113 35 fi/'i a jj j i i Diners Club Credit Card r»apply,<*£• 6416 0980 Where to wine, dine and entertain... l^Q L Watch a bevy of beauties show off the latest in leisure wear at Discovery Pub's Friday Fashion Nite. Show starts at 9pm every Friday. Also catch our happy hour
      113 words
    • 104 35 PLAZA PARKROYAL Jolly Romantk X'mas Stay On Christmas Eve 24 December 2004 On Christmas Eve, stay at Plaza Parkroyal with your beloved one. At $218 for a couple, enjoy the contemporary comfort of our newly refurbished rooms, a delightful Christmas Eve buffet dinner and breakfast plus free use of facilities
      104 words
    • 220 35 PropNex Realty Pte Ltd igjpMljl Prime Residential Site District 21 Wil'IWM (Toh TUck Road) Land Area *****.6 sqm (Approx 130,164 sq ft) Tenure 999 years Planning Residential Parameters 1.4 PR (up to 5 storeys) ,s*, Tender 20 January 2005 Closing Thursday 3.00pm Releasing a financial statement? Call 1800 289 8522
      220 words
    • 144 35 A JTC 3-storey purpose-built detached factory in Changi South, Move in by Jan 05 30+30 years wef 1 May 95, Land area 44,456 sq ft, GFA 62,417 sq ft. 1.5-tonne passenger lift 3-tonne cargo lift 3 loading/unloading bays Fully air-con, well maintained. Please contact Jasline Neo at 65-*****666 {Seafood by
      144 words