The Business Times, 14 December 2004
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2004-12-14
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The Business Times
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Title Section14 2004-12-14 1 THE BUSINESS TIMES SlNGAfQtftßwntej -rapine at 1 .com.sg MICA (P) 023/03/2004 Tuesday, December 14,200414 words
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Article, Illustration644 2004-12-14 1 JEAN CHUA - Shares dive 42%, wiping $127m from market cap before trading was suspended By JEAN CHUA [SINGAPORE] United Food Holdings (Unifood) has denied that it is linked to a financially troubled group in China, after its share price crashed 42 per cent yesterday. InvestorsSource: Bloomberg - 644 words
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536 2004-12-14 1 JOYCE KOH - By JOYCE KOH [SINGAPORK] The plot thickens at Auston International. The education provider announced yesterday that it has filed a report with the Commercial Affairs Department (CAD) over its accounting problems. The involvement of the white-collar crime busters in the matter comes even as536 words
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Article139 2004-12-14 1 STI 2,017.29 (+0.96) ST INDEX FUTURES 2,015.00 (unch) siMsa 239.77 (+0.31) SIMSa FUTURES 238.60 (-0.90) MARKETS Monday Change KLSECOMP 897.34 +3.11 NIKKEI 225 10,789.25 +32.45 HANG SENG 13,886.16 -15.65 SET INDEX 645.75 -3.03 JAKARTA COMP 935.78 -9.44 MANILA COMP 1,748.33 -5.14 SEOUL COMP 844.20 -0.65 SHENZHEN B 239.16139 words
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Article48 2004-12-14 1 TOP STORIES... PG 2,3 COMPANIES... PG 4-7 MARKETS PG 8 SMALL CAPS PG 9 SINGAPORE..... PG 10 ECONOMY PG 12 M'SIA/INDON.. PG 14 CHINA/INDIA... PG 15 ASIA-PAC PG 16 WORLD PG 19 AVIATION PG 18 SHIPPING PG 19 EDITORIAL PG 20 LETTERS PG 21 PROPERTY.. PG 28-3048 words
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Page 1 Advertisements
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Advertisement37 2004-12-14 1 PROPERTY Put your bet on 'jr j well-located Australian properly pg 29 W OIL EXPLORATION WWI llffW'Ml IPO LISTING J M'sian dairy products TO HK ON JETSTAR ASIA H 1* NRj|^Bl H| I HH |H IwiP I37 words
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Advertisement32 2004-12-14 1 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 HI32 words
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TOP STORIES
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Article, Illustration490 2004-12-14 2 ANNA TEO - They'll have to weather global imbalances and a weak dollar policy, says Stanchart By ANNA TEO [SINGAPORE] The global macroeconomic imbalances and a seeming weak US dollar policy will offer the Asian economies, in the new year, a chance to change economic490 words
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403 2004-12-14 2 S JAYASANKARAN - By S JAYASANKARAN in Kuala Lumpur TELEKOM Malaysia's US$47O million investment in two telecommunications companies in Indonesia and India last week won't start paying off until 2006. "We could see some earnings dilution next year because we've sold off our403 words
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Article859 2004-12-14 2 Strong flow of S'pore investments into M'sia THE flow of Singaporean investment into Malaysia in the first half of the year hit its highest level since the Asian financial crisis of 1997/98, while Malaysian investment into Singapore in the same period reached a three-year high. Speaking at the859 words
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722 2004-12-14 3 DANIEL BUENAS - Closer ties and improving economic climate boost flow of funds By DANIEL BUENAS [SINGAPORE! In what some observers say is a sign of closer bilateral ties and improving regional economic prospects, the flow of Singaporean investment into Malaysia for the first six months722 words
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341 2004-12-14 3 They are willing to pay more for superior returns Bloomberg [EDINBURGH] Institutional investors are paying more for emerging market stocks as fund companies charge higher fees where there is the greatest potential for investors to make a profit, according to a study byBloomberg - 341 words
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Page 2 Advertisements
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Advertisement183 2004-12-14 2 Promotions valid for all branches and till 19 Dec 04 (Sun) 'Tial sin Local celebrities declare VA////////'// "BEIJING inieggibfafci sthejnost effective" "Beijing 101 herbal therajpy F "With a 30-year w- J* M hair problems, fl Beijing 101 is the Edmund Chen hair consultant MediaCorp Artiste A satisfied Beijing 101 client183 words
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Advertisement22 2004-12-14 2 Recruit the one you want for any position you have IUI Call WOO 289 8822 or email recruit@sph.com.sg for your recruitment solutions22 words
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Advertisement59 2004-12-14 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:+6s 6535 3382 F:+6s 6535 3991 E: singapore@ocra.com.sg 2459 words
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Advertisement39 2004-12-14 3 Star Hub 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 SERVICES39 words
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COMPANY NEWS
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Article, Illustration413 2004-12-14 4 JOYCE KOH - Company plans to expand production capacity, build co-generation plant By JOYCE KOH Singpu Chemicals yesterday Jigned a US$7O million loan facility to expand its production capacity and con-» «truct a co-generation Jjlant. The five-year syndicated Jransferable term loan facility was arranged by X)CBC BankFILE PHOTO - 413 words
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Article, Illustration534 2004-12-14 4 ANGELA TAN - Chartered loan —tough but necessary HOCK LOCK SIEW By ANGELA TAN LAST week. Chartered Semiconductor Manufacturing the world's fourth largest made-to-order chip maker disclosed that it was borrowing US$652 million to fund expansion. The money will be used to buy new equipment for Fab 7, its first factory which makesFILE PHOTO - 534 words
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Article, Illustration569 2004-12-14 5 KENNETH LIM - TROUBLE AT CAO New firm set up to continue CAO's business calls its first jet fuel tender Reports by KENNETH LIM EARLY estimates of China Aviation Oil's gross liabilities suggest the crippled jet fuel supplier could face debts of US$45O million to US$5OO million,AFP - 569 words
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353 2004-12-14 5 EMIRATES National Oil Co (Enoc) has found two other shareholders to replace crippled China Aviation Oil (CAO) in a planned oil storage terminal on Jurong Island and hopes to increase the capacity to 720,000 cubic metres, industry sources said yesterday. The shareholders'353 words
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Article, Illustration439 2004-12-14 6 JEAN CHUA - Malaysian dairy products maker's IPO will offer 43m new shares at 21c By JEAN CHUA ETIKA International Holdings, a Malaysia-based manufacturer of milk products started by former F&N employees and the Lasseters' Tan Brothers, is raising RM17.4 million (557.6 million) through a listingLIANHE ZAOBAO - 439 words
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153 2004-12-14 6 COURTS Singapore yesterday said that it would launch an 18,000 sq ft store in Krabi, Thailand, next month and expects the store to achieve annual turnover of 555.4 million in 2005. The three-storey outlet will be >-€ourts' fifth store in the country,153 words
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216 2004-12-14 6 Bloomberg RAFFLES Holdings Ltd, which operates hotels from Beverly Hills to Berlin, denied that it has held talks with MGM Mirage about running a hotel in the US company's newest Las Vegas casino project. Raffles is one of a numberBloomberg - 216 words
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Article, Illustration251 2004-12-14 6 DANIEL Chan, former managing director of UOB Asset Management, has joined Straits Lion Asset Management (Slam) as its chief executive. A Slam statement said Mr Chan's appointment was effective yesterday. He is also executive director. Sources believe Mr Chan was hired to effectFILE PHOTO - 251 words
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Article34 2004-12-14 6 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 Day34 words
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Article, Illustration575 2004-12-14 7 It will also pursue offshore and marine work in rest of S-E Asia Bloomberg A KEPPEL Corp unit may build a shipyard in Indonesia as South-east Asia's biggest oil producing nation opens up more areas for exploration to boost oil and natural gas output,Bloomberg; FILE PHOTO - 575 words
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155 2004-12-14 7 AFP SINGAPORE Telecommunications (Sing Tel) will gain a foothold in South Korea's Internet industry through a new partnership with Samsung Networks, the two companies said yesterday. The deal allows Samsung Networks to give its customers use of SingTel's Asia-wide Internet PBotocol Virtual Private NetworkAFP - 155 words
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COMPANY BRIEFS
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107 2004-12-14 7 PROPERTY developer Soilbuild Group Holdings has launched an initial public offering of 34.5 million new shares at 31 cents each comprising 1.5 million public offer shares and 33 million placement shares. The shares are priced at 2.75 times Soilbuild's net profit107 words
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65 2004-12-14 7 LABROY Marine said it has secured a US$23.l million contract to build a 20,200 dwt cement carrier for delivery in October 2006. The order from Norwegian company Belden Shipping Group brings to $380 million Labroy's current outstanding order book. Labroy does not65 words
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67 2004-12-14 7 BOUSTEAD Singapore said its 90 per cent UK subsidiary has secured contracts worth about $10 million in Saudi Arabia and Azerbaijan to design and supply high-temperature heaters for petrochemical facilities. The contracts are due to be completed before March 31, 2006, but are not67 words
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95 2004-12-14 7 GP Industries said it has agreed to sell its entire 41.56 per cent stake in Jiangsu Toppower Automotive Electronics Co for 99 million yuan (Ssl 9.7 million), payable in cash, to "certain independent third parties". Toppower will also sell its95 words
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38 2004-12-14 7 NATSTEEL said a subsidiary has incorporated a new business in Hong Kong to manufacture and sell plastering materials. Nat Steel said subsidiary Eastern Pretech (Hong Kong) has started Eastern Gotech (China).38 words
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Page 4 Advertisements
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Advertisement377 2004-12-14 4 Mill*, ELPIDA I |hi/ji/iix Elpida Memory, Inc. I STATS ChipPAC Ltd. Hynix Semiconductor Inc. JPYIII.S billion I USD2IS million B KRW9S4 billion Initial Public Offering H High Yield Bond Offering H Sale of Hynix's H B Non Memory Business Joint Bookrunner I Joint Bookrunner H Sole Financial Advisor November 2004377 words
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Page 5 Advertisements
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Advertisement14 2004-12-14 5 Fresh jobs everyday Read our newspapers for a fresh set of jobs everyday! I14 words
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Advertisement22 2004-12-14 7 Recruit the one you wait for any position you have it Call 1800 289 8922 or email reavft@sph.comsg for your recruitment solutions22 words
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Advertisement393 2004-12-14 7 3 SlR®#/ An award-winning b° u tiq ue^jMMj^^ Five-time winner |m^H[ f§r -Strnk I jfl HP K| fl Group Holdings Ltd (Incorporated in Republic of Singapore on 26 December 1996) T ja»j|«^H£h. (Company Registration Number *****9233 M) rHjj] j Invitation in respect of 34,500,000 new ordinary eharea of $0.25 each393 words
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SINGAPORE MARKETS
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Article, Illustration536 2004-12-14 8 R SIVANITHY - STOCKS China woes, margin calls wreak havoc; support for banks and Sing Tel helps STI post marginal rise R SIVANITHY Senior Correspondent EVEN the most die-hard bull would have to admit that the China .theme that had so riveted the local market in the past hasSource: Bloomberg - 536 words
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Article392 2004-12-14 8 JOYCE KOH - Compiled by JOYCE KOH developments tod tiutt pres6DCB. (to Hbitda margin shed 8.9 per cent mmwmWmi WMMM points year-on-year, dragged down expenses. Its Taiwan operations incurred losses due to a lower utilisation rate. As a result of die margin erosion and lower sales, pre-tax and net profit plunged S4-55392 words
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Article, Illustration523 2004-12-14 8 LARRY WEE - LARRY WEE Senior Correspondent THE US dollar retreated a fair bit in Asia yesterday from last Friday's spectacular pullback to multi-week highs such as 106.19 yen, 551.6610 and U551.3136 per euro. but trading appeared more defen- sive than aggressive ahead of the lastSource: Reuters - 523 words
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TRADES TO WATCH
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74 2004-12-14 8 I.AFE Technology chairman and chief executive Christopher Ho Wing-On's deemed stake rose to 63.95 per cent from 63.71 per cent yesterday after 2.4 million shares were bought by the Grande Group. The shares were acquired at 18 cents each on the open market.74 words
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111 2004-12-14 8 ASIATRAVEL.COM Holdings executive co-chairman Ong Nai Pew's direct and deemed stakes increased over the past two trading sessions after 515,000 shares were bought on the open market. Mr Ong, who received 117,710 shares on Tuesday last week as part of a performance share plan, directly111 words
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64 2004-12-14 8 MIDAS Holdings non-executive director Chew Hua Seng bought one million shares on the open market yesterday at about 30.5 cents each in a series of transactions, raising his direct stake to 13.37 per cent from 13.24 per cent. Shares of Midas, an64 words
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102 2004-12-14 8 PANPAC Media Group honorary chairman Low Song Take and non-executive director Kevin Low Ka Choon saw their combined deemed stake increase to 14.04 percent from 12.21 percent yesterday after privately held International Press Holdings bought 10 million shares at 6.5 cents apiece as part of a102 words
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56 2004-12-14 8 PRUDENTIAL Asset Management (Singapore) saw its deemed stake in Food Junction Holdings fall to 7.84 per cent from 8.67 per cent on Friday last week after one million shares were sold on the open market. Shares of the food court operator inched up one56 words
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69 2004-12-14 8 KENNETH LIM - Compiled by KENNETH LIM FUND manager Schroder Investment Management Group is now deemed to have just a 5.19 per cent stake in YHI International from 7.24 per cent previously after 4.99 million shares were sold on behalf of clients on Wednesday last week.69 words
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Article, Illustration410 2004-12-14 8 OTHER SINGAPORE INDICES Dec 13 VALUE CLOSE BT OB/OS -822.00 -232.00 BT CADI -*****.00 -207.00 BT 10-day MA -*****.00 -82.00 All-SG Equities 515.94 -0.59 SG Equities Elect 157.62 -1.61 SG Equities Fin 1580.90 +1.16 SG Equities Prop 497.01 -3.78 SIMSCi 239.77 +031 SiMSCI Futures 238.60 -0.90 MOST ACTIVE STOCKS VOLUME410 words
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SMALL CAPS
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Article, Illustration754 2004-12-14 9 ANGELA TAN - China-based fabric printer Jishan expects business to soar, reports ANGELA TAN ANGELA TAN ONE bad apple doesn't always spoil the whole barrel that's basically the message China-based fabric printing and dye firm Jishan Holdings wants to convey to investors here. The Singapore-listed Zhejiang company, which boasts USSource: Bloomberg; FILE PHOTO - 754 words
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Article446 2004-12-14 9 TEH HOOI LING - By TEH HOOI LING THERE was some serious dumping of second-liners in the past couple of weeks, which saw the UOB Sesdaq Index fall a sharp 7.7 per cent in the 10 trading sessions to yesterday. The selling took a more severe turn in the week446 words
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Page 9 Advertisements
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Advertisement186 2004-12-14 9 Recruit the one you want for any position you have Call 1800 289 8822 or email recruit@sph.com.sg for your recruitment solutions DEPARTURE FROM SINGAPORE 11 January 2005 to 10 March 2005. DAILY SINGAPORE TOTOKYO/OSAKA (via Tokyo) Ss79o upssi,2oo) Child: from Sss9o (U.P. Ss9oo) Good Times Fly Terms Conditions: M |i186 words
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Advertisement34 2004-12-14 9 rWMestfrost Wine Cooler Made In Dermal lEB|VKGSII HI HI Promo Price In $1260 MM Size(mm): I 1550 x 595 x 595 ■■I B No. of bottles 60-100(0.75^ I Tel: 6744 2523 ■I WAHANA DISTRIBUTIONS34 words
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SINGAPORE NEWS
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Article, Illustration811 2004-12-14 10 CHUANG PECK MING - SM Goh and PM Abdullah will meet in two months to thrash out details By CHUANG PECK MING in Kuala Lumpur TALKS between Singapore and Malaysia on outstanding bilateral issues are moving again this time on a more positive note as both countries areREUTERS - 811 words
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344 2004-12-14 10 NANDE KHIN - By NANDE KHIN THE Singapore government "has good reason for its involvement in business", given the context of the Republic's economic history, said Lim Hwee Hua, Minister of State for Finance and Transport at the Malaysia-Singapore Forum yesterday. "The view that the government should344 words
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288 2004-12-14 10 MINISTER Mentor Lee Kuan Yew yesterday urged parents to continue using their mother tongues at home to give their children a strong foundation early in life. "As more parents are tertiary-educated in English, at universities and polys, they will tend288 words
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Article, Illustration363 2004-12-14 10 SIOW LI SEN - BT exclusive By SIOW LI SEN ANDREW Liew, the man who heads ABN Amro Bank's Singapore consumer business, is training his sights on the small and medium enterprise segment. His move, said to be cheered by some of ABN Amro's bigger consumer bank363 words
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166 2004-12-14 10 UNSURE of how the economy will shape up next year and want a glimpse of the outlook for the business community? The 3rd Business Outlook Forum on Jan 3, jointly organised by The Business Times and the Singapore Chinese Chamber of Commerce Industry (SCCCI), can166 words
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Page 10 Advertisements
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Advertisement320 2004-12-14 10 IN THE MATTER OF THE COMPANIES ACT CAP. 50 AND IN THE MATTER OF BOTTOM LINE (S) PTE LTD (In Creditors' Voluntary Liquidation) At an Extraordinary General Meeting of Members of the abovenamed Company duly convened and held at 315 Outram Road. #15-08. Tan Boon Liat Building Singapore *****4 on320 words
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Advertisement224 2004-12-14 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SUNCAM (PTE) LIMITED Company No: *****011J K (IN MEMBERS' VOLUNTARY LIQUIDATION) FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cop. 50, that the FINAL MEETING of the members of the224 words
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Advertisement366 2004-12-14 10 To advertise call toll-free 1800 289 8822 Email: notices®sph.com.si SENG HLA HNG REALTY PTE LTD (IN MEMBERS' VOLUNTARY WINDING UP) FINAL MEETING NOTICES IS HEREBY GIVEN pursuant to Section 308 of the Companies Act Cap 50 that the Final Meeting of the members of the above named company will be366 words
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Advertisement385 2004-12-14 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF JARDINE SCHINDLER (LOGISTICS) PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) CO. REGISTRATION NO. *****0004R NOTICE IS HEREBY GIVEN pursuant to Section 308( 1) of the Companies Act, Cap 50, that a Final Meeting of the Member of385 words
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Advertisement337 2004-12-14 10 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF SUMITRONICS ENGINEERING PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) (COMPANY NO.: *****5891 M) Extract of the Minutes of an Extraordinary General Meeting of SUMITRONICS ENGINEERING PTE LTD signed by the Representative of the Holding Company pursuant to337 words
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SINGAPORE FOCUS: INDUSTRIES
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Article, Illustration1235 2004-12-14 11 CHEN HUIFEN - FOOD MANUFACTURING Food makers' association eyes growth for the industry by upgrading worker skills, innovation and penetration of overseas markets. CHEN HUIFEN reports CHEN HUIFEN UNLIKE the electronics or pharmaceuticals sectors which often capture media headlines with their cyclical output swings, the food manufacturing industryCHRIS LOH - 1,235 words
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Advertisement561 2004-12-14 11 Extend your global reach n^HHr BL wii^^prT *>-41 V rt laj; f <W ..^SSMaI 'V*:; Jim ■(^MB^^ ?tV jHMk fl #-*~>- JK B. Be a part of the International Enterprise Forum 05 2-3 February 2005, Raffles City Convention Centre, Singapore The International Enterprise Forum (lEF) is an annual meeting of561 words
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ECONOMY WATCH
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Article, Illustration787 2004-12-14 12 Some analysts see the possibility of a flight out of dollars if it falls further AFP [WASHINGTON] The Americans may be playing a dangerous game in letting the US dollar slide, some analysts say, and 2005 could be the year of reckoning. 4AFP; FILE PHOTO - 787 words
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315 2004-12-14 12 November retail sales edge up slightly by 0.1 LATEST US INDICATORS AP. Reuters [WASHINGTON] American shoppers showed a bit of cheer at the cash registers in November, boosting sales at the nation's retailers by 0.1 per cent. The newest snapshot of consumers' buying appetite, issued by the Commerce Department yesterday,AP.; Reuters - 315 words
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Article351 2004-12-14 12 Bloomberg [KUALA LUMPUR] Malaysia is unlikely to review the ringgit's peg to the US dollar next year because a decline in the currency's value hasn't been enough to upset the economy, according to research company Forecast Ltd. "A review of the ringgit peg could takeBloomberg - 351 words
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Article, Illustration642 2004-12-14 12 Bloomberg [SINGAPORE] Crude oil rose in New York after Saudi Arabia said it will cut supplies to Asia as Opec members reduce output to stem a price slump. Saudi Aramco, the world's biggest oil company by output, told Asian customers itBloomberg; AFP - 642 words
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232 2004-12-14 12 Bloomberg [NEW DELHI] India set a target of increasing exports by almost a fifth in each of the next two financial years. Commerce and Industry Minister Kamal Nath said. Exports may rise 17 per cent to US$BB billion in the year starting April 1 2005,Bloomberg - 232 words
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Article, Illustration560 2004-12-14 12 Reuters [NEW DELHI] When a com-munist-backed government took power in India in May, the question on everybody's lips was: has India's shine dulled? Markets tumbled after the Congress-led coalition took power and anxiety gripped investors as its communist allies called for theReuters - 560 words
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Page 13 Advertisements
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Advertisement645 2004-12-14 13 I" '-It*, ®L"* t r jgrrff'*•" tf < Sit* p| 3Bgj&i@:. v Jf 1' V T" i I« I |T. I wl If ii j 4 fiß rrf H Mil I jk -if B r V r 11 »J Jl A> Is your business outgrowing your IT system? <"N Fujitsu645 words
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MALAYSIA/INDONESIA
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Article, Illustration570 2004-12-14 14 3rd-largest mobile operator plans expansion to gain market share Reuters [JAKARTA) Indonesia's third-largest mobile phone operator, PT Excelcomindo Pratama (Excel), plans an IPO next year to finance an expansion drive aimed at catching up with bigger rivals, a senior executive said yesterday. Gxcel'sReuters; REUTERS - 570 words
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117 2004-12-14 14 Reuters [JAKARTA] PT Bank Danamon Indonesia, the country's fifth-largest bank, plans to issue up to 3 trillion rupiah (***** million) worth of bonds next year, the Bisnis Indonesia newspaper reported yesterday. Danamon is majority owned by a consortium comprising Temasek Holdings andReuters - 117 words
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141 2004-12-14 14 Reuters [KUALA LUMPUR] Malaysia has blocked a Xplan by A S Watson drugstore chain to take over a small Malaysian retailer Apex Pharmacy Sdn Bhd, Apex's parent said yesterday. In July, Watson had proposed to take over Apex Pharmacy for RMI4 millionReuters - 141 words
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Article, Illustration809 2004-12-14 14 SHOEB KAGDA - INDONESIA INSIGHT As it gets ready to elect a new chairman, the party also has to reinvent its role in Indonesian politics SHOEB KAGDA Jakarta Correspondent Has Indonesia's politics advanced beyond personalities nearly seven years after the fall of the New Order when the809 words
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596 2004-12-14 14 [KUALA LUMPURI Pos Malaysia plans to realign its business units beginning next year in a bid to unlock its assets, the company's group managing director, Ikmal Hijaz, told The Star. Mr Ikmal, who is also the CEO of Pos Malaysia Services'596 words
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GREATER CHINA/INDIA
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561 2004-12-14 15 The govt's decision is the first sign of compromise on the contentious issue NYT,Bloomberg NYT. [HONG KONG] China's Commerce Ministry announced on Sunday night that it would impose tariffs on some textile exports, a step that could avert a trade war withNYT,Bloomberg; NYT. - 561 words
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351 2004-12-14 15 Reuters [TAIPEI] Taiwan's Formosa Plastics Group is planning a 600,000 barrels per day {bpd) oil refinery in Taiwan, a newspaper said, more than doubling current capacity to meet rising regional demand, especially from China. The group will spend NTS 120 billion (Ss6.l billion)Reuters - 351 words
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Article, Illustration894 2004-12-14 15 And their spending patterns are changing the cultural landscape of India AFP NEHA Pandita, 19, took her first ever paycheque and bought nice shoes, a watch, jeans, a diamond ring for mom, a cellphone for dad and a stuffed animal and chocolates forAFP - 894 words
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563 2004-12-14 15 Bloomberg (BEIJING] China will complete within three years an emergency oil stockpile to meet 30 days of demand and expand it in stages to 90 days by 2010 to avoid boosting global prices, said an official at a state oil company. China,Bloomberg - 563 words
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408 2004-12-14 15 Aim is to apprehend corrupt officials who've fled abroad AFP [BEIJING] China must set up more extradition treaties and adapt its legal system to conform with global standards if it wants to catch about 4,000 officials who have fled abroad with US$5O billion, stateAFP - 408 words
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ASIA-PACIFIC/WORLD
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Article, Illustration517 2004-12-14 16 Samsung Elect buys into SK Corp which is in a tussle with Monaco-based firm [SEOUL] South Korea's powerful chaebol appear to be banding together in an attempt to fend off hostile foreign takeovers. This is likely to exacerbate fears of the family-run conglomeratesAFP - 517 words
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478 2004-12-14 16 Reuters [TOKYO] Japan's Jasdaq stock market for startups, reborn yesterday as the country's first new securities exchange since 1950, will probably go public itself in the longer term to help meet funding demands, its president said. Until last week the 41-year-old market, home toReuters - 478 words
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Article, Illustration336 2004-12-14 16 Bloomberg [SYDNEY] The Australian government has invited investment banks to undertake a study into how they'd handle the sale of its As 32 billion (Ss4o billion) in Telstra Corp, the nation's biggest phone company. The study will examine the timing of theBloomberg; AFP - 336 words
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718 2004-12-14 16 The big firms are set to grab the lion's share of funds in the second half of 2004 Reuters [TOKYO] In Asia's booming private equity industry, bigger is better. Small local upstarts have mushroomed as money pours into funds that buyReuters - 718 words
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624 2004-12-14 16 [LONDON] When you next select your lottery numbers, be sure to pick 38, suggests the London Sunday Observer. That is the conclusion of a previously unpublished report by the National Lottery Commission, which unearthed a series of statistical anomalies that,624 words
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Page 16 Advertisements
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Advertisement136 2004-12-14 16 Call toll-free 1800 289 8822 i ASSETS FOR SALE! ~~7 Traditional Indonesian Batik/China Cloths in huge quantities Grandfather Clock Chinese Silk Painting Art Drawings Wrapping machine (i) Sold On An "As Is Where Is" Basis Without Warranty or Undertaking of the condition (ii) Terms conditions apply PROPERTY FOR SALE OR136 words
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WORLD
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619 2004-12-14 17 Oracle's bid of US$26.50 per share was approved by both companies Bloomberg, Reuters [NEW YORK] People Soft Inc yesterday gave up its 18month fight and accepted a sweetened US$lO.3 billion acquisition offer from rival Oracle Corp. Oracle's bid of U5526.50 per share wasBloomberg,; Reuters - 619 words
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340 2004-12-14 17 Bloomberg [NEW YORK] General Motors (GM) and DaimlerChrysler will jointly develop a gasoline-electric power system to catch up with Toyota and Honda in so-called hybrid vehicles that save fuel and cut tailpipe emissions. The carmakers expect to reach an agreement early in 2005, Detroit-basedBloomberg - 340 words
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Article, Illustration192 2004-12-14 17 AFP [PARIS] US fashion company Tommy Hilfiger announced Monday it had bought up clothing brands belonging to the stylist Karl Lagerfeld for an undisclosed sum. The deal does not include Lagerfeld's contracts with Chanel and Fendi, a joint statement said. It covers collections suchAFP; AP PHOTOS - 192 words
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Article, Illustration552 2004-12-14 17 NYT CARL C Icahn has chosen his latest target. But this time, he is not content to go after just a single company but has his eye on the secretive practices of the hedge fund industry. Last Friday, Mr Icahn, a legendary investorNYT; BLOOMBERG - 552 words
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542 2004-12-14 17 Restraint comes despite what looks like a very profitable 2004 (NEW YORK! Criticism of high levels of executive pay is prompting restraint in US boardrooms, according to the first glimpse of compensation data for the current year. According to the Financial542 words
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Article, Illustration502 2004-12-14 17 AP, FT [FRANKFURT] The London Stock Exchange (LSE) has rejected a bid from Deutsche Borse, its bigger German rival, the exchanges said yesterday. Although the London exchange has rejected the proposal, the two have agreed to hold talks about a further offer. "Deutsche BorseAP,; FT - 502 words
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AVIATION
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581 2004-12-14 18 Most routes not making money because of higher costs: CEO Hill Bloomberg [COLOMBO] Sri Lankan Airlines, the island's national carrier, said it will delay its expansion, including starting flights to China, because of higher fuel costs. The carrier will post losses in its airline divisionBloomberg - 581 words
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Article, Illustration386 2004-12-14 18 VEN SREENIVASAN - By VEN SREENIVASAN [SINGAPORE] Jetstar Asia Airways took off from Singapore Changi Airport on its maiden flight yesterday, making it the third discount carrier to take to the skies from the world's 7th busiest airport. Some 300 people, including the MinisterAFP - 386 words
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280 2004-12-14 18 AFP [BEIJING] An Air China plane on a domestic flight knocked over an electricity pole while trying to land at an airport in south-west Guizhou province, state media reported yesterday. None of the 132 passengers and crew members were injured in the incident onAFP - 280 words
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LOG BOOK
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Article160 2004-12-14 18 Bloomberg IBRUSSKLSI United Parcel Service Inc, the world's biggest package-delivery company, has won European Union approval to buy Menlo Worldwide Forwarding, a money-losing unit of CNF Inc, for US$l5O million to expand international services. The acquisition includes assuming US$llO million in debt, Atlanta-basedBloomberg - 160 words
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113 2004-12-14 18 AFP (SYDNEY] Severe storms with hail the size of golf balls lashed Sydney yesterday, closing the airport, grounding aircraft and disrupting the travel plans of thousands of people, emergency services said. The storms also closed a major rail line, brought down trees and causedAFP - 113 words
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289 2004-12-14 18 AP., Bloomberg, Reuters [LONDON] British Airways said on Sunday that its director of UK airports, Mervyn Walker, was stepping down, four months after a staffing shortage disrupted travel at Heathrow Airport. Europe's second-largest carrier cancelled almost 1,000 flights this summer, costing itAP.,; Bloomberg,; Reuters - 289 words
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212 2004-12-14 18 Reuters INKW YORKI The Kuropean Union will be ready to countersue if the United States takes legal action in a trade row over government help for Airbus and Boeing, the Wall Street Journal reported yesterday. Washington and Brussels have so far resistedReuters - 212 words
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242 2004-12-14 18 Bloomberg [HONG KONG] Cathay Pacific Airways, which has had 13 engine malfunctions on its aircraft this year, plans to put four Boeing 777-300 planes back in service this week after they were grounded because of problems with engine parts. Cathay suspended the four aircraftBloomberg - 242 words
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Article385 2004-12-14 18 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 EVA385 words
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SHIPPING
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Article, Illustration30 2004-12-14 19 [PUERTO DEL ROSARIO] A group of 42 illegal immigrants sailing off the Spanish Canary Island ofFuenteventura as they try to land at Puerto delßosario port on Sunday AFPAFP - 30 words
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347 2004-12-14 19 Bloomberg [TOKYO] Osaka Gas Co, Japan's second-largest natural gas distributor, ordered two tankers for 35.4 billion yen (***** million) from Kawasaki Shipbuilding Corp, bringing the utility's total number of such vessels to six. Each ship will have capacity of 153,000 cubic meters,Bloomberg - 347 words
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Article346 2004-12-14 19 EVELYN DUFFY - State move to clinch Australian navy's A$2b amphibious job By EVELYN DUFFY THE Western Australian (WA) Government has pledged As6s million (SsBl million) to build a "worldclass defence shipbuilding hub" at the Australian Marine Complex near Henderson the area which houses Australia's most concentrated shipbuilding strip. The announcement, which is346 words
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233 2004-12-14 19 AL LABITA - Fund will be used for terminal expansion in Poland By AL LABITA in Manila [MANILA] Two Austrian banks had extended a combined US$36 million term loan to a Philippine container port operator to bankroll the expansion of its terminal in Gdynia, Poland. The loan233 words
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Article332 2004-12-14 19 SGX '000 Dec 13 SS Vol CH Offshore 0.37 unch 539 ChuanHup 0.62 0.01 2522 Cosco Corporation 0 98 0 08 ***** CWT Distribution 0 56 -0.01 288 Ezra Hldgs 1.15 -001 295 Freight Links 0.09 unch 625 Grand Banks Yacht 0 99 unch 1 Jaya Holdings 1.01332 words
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524 2004-12-14 19 AP [WASHINGTON] The United Arab Emirates is the first country in the Middle East to participate in a US programme intended to safeguard sea cargo from terrorists, US Customs officials said on Sunday. Eor the first time, US Customs inspectors will beAP - 524 words
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Article, Illustration706 2004-12-14 19 AP. Reuters (ANCHORAGE, Alaska] The US Coast Guard lowered a salvage team to a freighter that broke in two pieces when it ran aground off Alaska's coast, seen as a key step towards cleaning up a destructive, oily mess stretching for miles. A helicopterAP.; Reuters; AFP - 706 words
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EDITORIAL & OPINION
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Article524 2004-12-14 20 EDITORIAL WHAT changes, if any, can we expect in Singapore's market regulatory regime following the China Aviation Oil (CAO) episode? There may be calls to tighten up disclosure and listing rules in the wake of the scandal. Possibly, these may be heeded, though the challenge for regulators524 words
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Article, Illustration1284 2004-12-14 20 STEVE LOHR - Big Blue didn't want to merely sell its PC business to Lenovo, it sought a long-term partnership instead By STEVE LOHR NYT IN JULY 2003, Samuel J Palmisano, the chief executive of IBM, travelled to Beijing to explore the sale of the company's personal computerNYT; REUTERS - 1,284 words
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Article, Illustration717 2004-12-14 20 AL LABITA - THE BOTTOM LINE AL LABITA Manila Correspondent THE Philippine Supreme Court rarely reverses its decisions, but in the recent legal row over foreign investments in mining, it exactly did that, signalling what seemed to be a new thinking sweeping the country's judicial system.717 words
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Article, Illustration945 2004-12-14 21 MATTHEW LYNN - London's financial hotshots will have a tough time deciding how best to flaunt their successes of the past year MATTHEW LYNN Bloomberg HOW will the Christmas bonus season play out for London's hotshot financiers? Bonuses are likely to be flat this year, reflecting a slowdown inBloomberg; REUTERS - 945 words
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Article, Illustration656 2004-12-14 21 Bin Hee Heng Singapore - LETTERS TO THE EDITOR: CAO SCANDAL Bin Hee Heng Singapore I WISH to comment On Tan Kok Tim's letter "Companies Act needs some changes to prevent fraud" (BT, Dec 7). Mr Tan said that China Aviation Oil's "$1 billion loss must mean hundredsFILE PHOTO - 656 words
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376 2004-12-14 21 Alvin Chua Chuan Ann Singapore - Alvin Chua Chuan Ann Singapore I REFER to "Companies Act needs some changes to prevent fraud" (BT, Dec 7) by Tan Kok Tim. 1 agree that legislation alone cannot and indeed did not prevent untimely and undisclosed losses in public limited companies taking wrong376 words
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Article210 2004-12-14 21 Anitah Abdul Ghani (Ms - Anitah Abdul Ghani (Ms) Manager Public Affairs Unit for Chief Executive Accounting and Corporate Regulatory Authority 1 REFER to Tan Kok Tim's letter "Companies Act needs some changes to prevent fraud" (BT, Dec 7). In light of the CAO case, Mr Tan has proposed210 words
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Page 21 Advertisements
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Advertisement103 2004-12-14 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel103 words
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Advertisement16 2004-12-14 21 Recruit from a wider audience Call 1800 289 8822 or email recruit@sph.com.sg for your recruitment solutions16 words
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Page 21 Miscellaneous
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Miscellaneous352 2004-12-14 21 CRYPTIC CROSSWORD n wti wk? I I® [7 i across 5 Style of dress to make one irri- 8 WM WM table (6) 8 Surgeon offers absurdly poor rate! (8) 9 With slippery road surface 10 H| youngster goes into bridge (7) HHH Hi WM 10 Publicity person no good?352 words
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Article4254 2004-12-14 22 STRAITS TIMES INDEX STOCKS Stock name W1 Close Change Stock name Wt Close Change Allgreen 50c 0.29 1040 -0.020 NOL 2.08 2.900 0.040 BIL Irrtl US20c 0 44 0 945 0.005 OCBC 9.77 13.000 -0.100 CapitaLand 1.34 2.000 Parkway H 25c 0.67 1 440 Chart SemiCond 26c 0.794,254 words
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Article2914 2004-12-14 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES (n local airr In SS Ml US$ dy yr <*y r *>»' Pw 10 lnde» Change Change Change Change Change Change World Inden Preliminary 8307 0.0 67 01 60 01 8' I EAFE Piefomnary 749.0 07 68 0.1 87 01 11.1 Europe Preliminary2,914 words
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Page 24 Advertisements
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Advertisement1671 2004-12-14 24 IMPORT I NORTH AMERICA I 11 AUSTRALIA/NEW ZEALAND 1 SUPER SHUTTLE EXPRESS (SSX) [AUSTRALIA ASIA EXPRESS (AAX) VESSEL vor IGB SIN PKG m W w oif vor m syd mel_ adi f«i _s»l_ _m_ OOCI HAMBURG 07W49 ,1/12 28/12 OMIT I E U M 2 <»'» ,4 >" 2,/ PtO1,671 words
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Advertisement894 2004-12-14 24 IINTIRASIA RORO SERVICE 1 vpsa/vor rampqo) hbghtiw) pkg kch lcb I sw I jkt STUAITS VENTURE /17 15 J? 09/12 12/12 It/12 19/12 21/12 STRAITS VENTURE/II IS 32 23/12 26/12 30/12 02/01 04/01 STKAITS VEWTURE /I IS 3.2 13/01 16/01 18/01 I WIST ASIA/BENGAL ROUP SVS VESSEI/VOT RAMP(KT) HEIGHT(M) TOK894 words
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Page 25 Advertisements
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Advertisement995 2004-12-14 25 MOl Combines a range of shipping modes to ensure timely, reliable services covering major ports m Norm America, Europe, Japan, Asia, Africa Oceania. I Also accopt intra-Asia Cargoes to: For Schedules, BL Searches, and Container Tracking, visit on our Home Page: www.hamburgsuJ.com H tSAF SERVKE (EXPORT! Hatlt: (65) >222-2883 .SAFE995 words
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Advertisement1337 2004-12-14 25 VESm VOY SjNm»GU HCM HKG' !0H PUL VESSEL TOY "w" PKG KUQ LUNG MIL 14/*****/12 _LZZIL —S» -|-f f{— fininFNHATF 41SH 78/1? I 79/12 31/12 NEW DYNAMIC 076 A 23/12 25/12— MInFN mnF 417N 78/1? I ?9/l? Li/i?" PERTHH BRIDGE 070 A 30/12 1/1 I HK —MMd-Slwom VESSEL VQYTPKG SIN1,337 words
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Advertisement1016 2004-12-14 25 si WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VESSEL VOY SIH P.KLANC COLOMBO N. SHEVA COLOMBO RAJIV GANDHI 0088W 08 DEC OMIT HM_ _liM liM BAY BRIDGE 004W 13 DEC 15 DEC 18 DEC 21 DEC 24 DEC PACIFIC QUEST 0002W 20 DEC 221,016 words
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Page 26 Advertisements
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Advertisement765 2004-12-14 26 lASi|f wallenius wilhelmsen website: http://www.2wglobal.com VESSEL VOY RAMP HEIGHT SIH LBC ~~MAO~ HOU« MIA SAV lAL ORF HY( HEW MOI TAMESIS AF424 320T0« 6.4 M 20/12 08/01 19/01 26/01 27/01 31/01 30/01 02/01 23/01 TAMPA AFSOI 4?oTms 6.4 M 01/01 24/01 02/02 09/02 10/02 14/02 12/02 16/02 06/02 TARAGO AFSO2765 words
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Advertisement770 2004-12-14 26 sm esy _ffisa w m aq PifiAHDi 13S7H m 1 09Z1L_ PACIIHTAM 22ZZ M/ 12 12Z12— CSf 2301 00t7r 09/12 11/12 _EA£JAII Alii 11/12 14/12 PAC lAHPA 135 M LO/H 10/12 M 24 14/12 IZ/12 PACIAMDA 13S9W 11/12 12/12 PAC HHTAN 927» 16/12 19/12 csf 2301 M44t 12/12 13/12 PAC770 words
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Advertisement612 2004-12-14 26 BSA X MYANMA ■H FIVE STAR LINE (Myanmar National Line) Loading for Yangon VESSEL VOY SIN PHI PEN PGU PAGAN 338W SID SLO HPA-AN 330W SID IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKU 03-*****388 PEN: 04-*****1S JKKKKk ACCEPTING CONVENTIONAL C6O HKG SIN HKG SIN PGU PKI KUC WAVE HEART 10S SLO612 words
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THE BUSINESS TIMES SHIPPING TIMES
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Page 27 Advertisements
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Advertisement75 2004-12-14 27 [Tuvalu ship registry m QUALITY SERVICE „QUALITY FLAG Low taxes Active role and representation in IMO Staffed by qualified professionals with many years of experience in ship registration Worldwide network of surveyors I classification societies No restriction on nationality of ownership Accedes to latest international conventions regulations Round the clock75 words
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PROPERTY
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Article, Illustration533 2004-12-14 28 Controversial rule on booking value of investment properties that's likely to cause profit volatility will be enforced in Jan Developers have lost their two-year battle to stop the accounting body from implementing a controversial rule that is likely to cause volatility in their bottom lines,AFP - 533 words
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535 2004-12-14 29 Two Housing Authority tenants challenge govt's right to conduct IPO Bloomberg IMMMMMBE HE trading debut of 1 ij. Hong Kong's record US$2.7 billion prop- erty trust may be delayed because of a legal challenge, a government lawyer Two Hong Kong Housing Authority tenantsBloomberg - 535 words
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Article, Illustration674 2004-12-14 29 EVINCE CHONG - By EVINCE CHONG INVESTING in the Australian market based solely on gross rental yields may not the best long-term strategy. Most buyers in Singapore are not knowledgeable enough about financial planning that involves foreign real estate, and too often make sentimental decisions based on howCHRIS LOH - 674 words
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Article, Illustration528 2004-12-14 29 CITY living is becoming trendy again, going by the number of new residential launches under way and planned within the Kuala Lumpur city centre and its periphery. A bustling city life will be a boon for the real estate market as528 words
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1043 2004-12-14 30 But prices must be realistic for sites to be transacted, consultants tell ANDREA TAN -TTnpro HH outlook for collective sales seems hazy just like the economic picture ahead. Industry insiders and developers say interest is expected to pick up but whether that1,043 words
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Page 28 Advertisements
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Advertisement178 2004-12-14 28 i m^" J Kb ,-y- y- J WmM v A|||||j|||||||||||jU||U||g|||k|||||^^^^^H^B^H|^^HHHH I 1 r t- S^i;| fl| t|L ■h* i < v \v&. *$81 'll'" K ~w iMf 'jM a 3§| A W ■k 1 jfe■k wfe a m 'fSB.. A k if I LI Businessman Of the Year Award Presented178 words
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Page 29 Advertisements
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Advertisement125 2004-12-14 29 WTTI a 1# J A A Presented Diners Club Credit Card To apply, call: *****980 Where to wine, dine and entertain... I IntematuwiaT (Seafood by the oea aWv\ Am m Fut Cozt Gloioi s Cl ltvral Bui Pamunc Amsiemk Seafood IMm.es Gaudes Singa CTV^/iNN a < :t m Singa Inn125 words
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Advertisement101 2004-12-14 29 KB)") Si Ihuan l)ou Hua Kesuurant o t fIo 7 o Plik to M I 60 Dishes Deluxe Feast Select from our extensive a la carte buffet menu featuring 60 superb Sichuan and Cantonese gourmet delights. Dinner: $30.80 (Adult), $19.80 (Child*) For reservations, please call 6290 8005/6299 9011. Prices subject101 words
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Advertisement70 2004-12-14 29 Andre Cmuil Pmneh Dlnlnf 3-Course French set lunch $19.90+ Add $1 for coffee 0 r tea 4-Course French set dinner $45+ (inclusive of fresh juices, coffee oi-* tea and 1 glass of wine) Be our privileged customer (by dinning at Andre) and enjoy 20% off total bill. 66 Tanjong Pagar70 words
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Advertisement103 2004-12-14 29 1 28th November 2004} 1 Sunday, 12noon 3pm Conducted by our specialty invited professional wine connoisseur who will m personally attend to you at your table! I j it' '-.UiS four courses with any 2 wines t. •Wf $$4«« four courses with all 4 wines •£ar*y bi'd rxiofcing before 9tn103 words
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Advertisement87 2004-12-14 29 nrriin su Lianhe Zaobao m China I to import I US$2 trillion I I worth of goods I I over the I I next five years I I I I I I -7nznkmr& I MERITUS MANDARIN SINGAPORE f ''Ccmtakim &hristmas goodies Enjoy Honey-glazed Ham, Roasted French Goose, Roasted US Turkey87 words
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Page 30 Advertisements
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Advertisement632 2004-12-14 30 Freehold Land area from 5, 7 00 to 7.100 sqft Ideal for single-storey building with high ceiling, mezzanine office, private loading bays and car parks w Enjoy building naming rights Price from 51.22 m or 5206 psf only! Potential for up to PR 2.5 500 m only to new Upper632 words
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Advertisement637 2004-12-14 30 DEPARTMENT OF REAL ESTATE LEjMI IC THE AMOS KOH MEMORIAL FUND COMMITTEE Real Estate Events in Support of the Amos Koh Memorial Fund In 2003 the NUS Department of Real Estate established the Amos Koh Memorial Fund to commemorate the lifetime achievements of the late Dr. Amos Koh. The Fund637 words
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