The Business Times, 17 February 2005

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Total Pages: 30
1 30 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 023/03/2004 Thursday, February 17,2005
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  • 611 1  -  Pact gives S'pore 'most favoured nation' status By CHUANG PECK MING [SINGAPORE] Singapore investments in Indonesia and vice versa will be accorded "most favoured nation" treatment under a pact signed here yesterday by the two countries. The agreement will subject investments to the recipient
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  • 138 1 STI 2,155.10 (-8.29) ST INDEX FUTURES 2,148.00 (-10.00) SIMSCI 256.67 (-1.34) SIMSCI FUTURES 256.10 (-1.80) MARKETS Wednesday Change KLSECOMP 919.43 -2.28 NIKKEI 225 11,601.68 -44.81 HANG SENG 14,015.49 +19.66 SET INDEX 739.37 +2.46 JAKARTA COMP 1,073.45 +6.25 MANILA COMP 2,078.48 -11.62 SEOUL COMP 971.56 +2.68 SHENZHEN B 247.19
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  • 690 1  -  SCI CEO died yesterday after suffering stroke By SIOW LI SEN [SINGAPORE] Corporate Singapore was saddened by news yesterday that Wong Kok Siew, deputy chairman and chief executive of SembCorp Industries (SCI), had died after suffering a stroke on Monday. "Constantly on the go",
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  • Page 1 Advertisements

  • TOP STORIES
    • 580 2  -  Tabcorp says it's prepared to invest $2b in proposed project By ALEXANDRA HO [SINGAPORE] As the month-end deadline for submission of plans for the integrated resort looms, Australia's Tabcorp Holdings is the latest contender to throw its hat in the ring. Australia's
      580 words
    • 553 2 He also said the 2.5% interest rate is fairly low Bloomberg [WASHINGTON] The US economy has firmed, and except for food and energy prices, inflation "has remained low" even with interest rates that remain "accommodative". Federal Reserve chairman Alan
      Bloomberg  -  553 words
    • 645 2 Tony Fernandes lands in Malaysia's richest list THE man who introduced cut-rate fares to Asian aviation has a first-rate pocketbook to boot. According to Malaysian Business' annual survey of the country's 40 richest people released yesterday, Tony Fernandes, the founder and chief executive of budget carrier Air Asia,
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    • 31 2 IN the article "Star Cruises, Valuair offer fly-cruise deal" (BT, Feb 16), we gave the price of a Bangkok/Ko Samui fly-cruise package as $6,991. The correct priQe should be $699.
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    • 900 3  -  Robert Kuok is tops again, with RM17b; 40 richest Malaysians account for 32% of GDP By S JAYASANKARAN in Kuala Lumpur THE man who introduced cut-rate fares to Asian aviation has a first-rate pocketbook to boot. According to Malaysian Business' annual survey of
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  • Page 2 Advertisements
    • 318 2 Foreign Exchange Work! Spot and forward foreign exchange instruments Dates This is a sawy guide on how spot and forward exchange rate as well as r\r\ 1 A/yvr 1 9 00am to 5 00pm swa P s contracts are used in trading, hedging and arbitrage activities. This workshop also provides
      318 words
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    • 21 2 Recruit the one you want for any position you have Call WOO 289 8822 or email recruit@sph.com.sg for your recruitment solutions
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  • Page 3 Advertisements
    • 230 3 Designed to produce growls, rumbles and sighs. The mere sound of a Mercedes-Benz What's more, every component must be welded much faster from a cold start As well as greatly For more details about the complete AMG AMG ls en ough to stir deep emotions. In fact, with the utmost
      230 words

  • COMPANY NEWS
    • 804 4  -  Such criminal activity must be stopped to protect market integrity By KAREN HO FIRST, let's get one thing straight no one is immune to the temptations of insider trading. Similarly, no one is immune to the repercussions once the offence is discovered. But exactly who
      804 words
    • 401 4 INSIDER trading is covered under Sections 103 and 104 of the Securities and Industries Act. The Act was repealed but it paved the way for the new Securities and Futures Act (SFA) which became operative in October 2001. Sections 218 and 219 of
      401 words
    • 766 4  -  By ANGELA TAN Mobile One (Ml), Singapore's second handphone operator, yesterday set the benchmark for its rival 3G service providers by being the first to offer video calls at 40 cents per minute a rate some market observers described as "compelling". "The 40
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    • 442 4  -  By GEORGE JOSEPH SEMBCORP Logistics yesterday reported a 13-fold surge in net profit to $1.17 billion for the year ended Dec 31, 2004, boosted by proceeds from the sale of its stake in Swiss freight forwarder Kuehne Nagel International (KNI) in October
      442 words
    • 283 4 Bloomberg NEPTUNE Orient Lines Ltd, the only one of the world's top 10 container shipping lines that hasn't ordered the biggest vessels available, will expand its fleet when prices fall, chief executive David Lim said. "We are a little underinvested compared to
      Bloomberg  -  283 words
    • 788 4  -  HOCK LOCK SIEW By R SIVANITHY FIVE weeks ago, this column featured FibreChem Technologies as a decent trading buy at 68 cents for various reasons, among them the company's expansion in China as well as the involvement of fund managers New Smith Asia
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    • 558 5  -  Goodies this year seen to target individuals, SMEs and not listed firms By WONG WEI KONG IT'S supposed to be an "election" Budget with lots of goodies. But the stock market isn't getting too excited, taking the view that it will be a Budget
      558 words
    • 667 5  -  COMMENTARY While past Rooster years have had some hard knocks, market hopes still run high JOYCE KOH Reporter THE market goes as the rooster crows. So which way will the market go this year? Will it be all bluster, noisy and
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  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 500 6  -  STOCKS Weakness in banks mainly to blame for the drop in ST Index R SIVANITHY Senior Correspondent fmmm XPECT the unI expected' may well be the mar- ket's motto for the days ahead, I at least if trading yesterday is any■BBHB thing to
      Source: Bloomberg  -  500 words
    • Article, Illustration
      924 6  -  Compiled by JOYCE KOH Inter-Roller Engineering Feb 1$ dost: 8&5 cents (4-5 cents) DBS Vkkers Securities, Feb 16 FYO4 results were within expectations. Revenue grew 32 per cent year-on-year to $70 million, while net earnings rose 56 per cent to $10.3 million benefiting from gross margin expansion and
      Source: Bloomberg  -  924 words
    • 525 6  -  CURRENCIES LARRY WEE Senior Correspondent WHILE currency trading ended the Asian session on a mixed note yesterday, there was a slight but nevertheless discernible fear that Fed chairman Alan Greenspan's overnight testimony to US lawmakers may disappoint US dollar bulls. One particular concern expressed by Fed-watchers
      Source: Reuters  -  525 words
    • TRADES TO WATCH
      • 104 6 JARDINE Cycle Carriage has increased its stake in Indonesia's PT Astra from 47.47 per cent to 47.52 per cen after buying 2.171 million shares on the open market on Tuesday. The shares were bought at 10,386 rupiah per share for a total of 22.5
        104 words
      • 72 6 TEMASEK Holdings' deemed stake in Singapore Petroleum Company has fallen to 47.89 per cent from 48.38 per cent after a change in the issued share capital of SPC. Temasek is still holding 207.478 million shares of SPC, which last month posted record profits of $253
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      • 97 6 BEAUTY China Holdings said the deemed stake of substantial shareholder Lloyd George Investment Management (Bermuda) has increased from 4.% per cent to 5.51 per cent last Monday, and from 5.51 per cent to 5.55 per cent the following day. This was because of two
        97 words
      • 108 6  -  Compiled by JEAN CHUA CHIP Eng Seng's substantial shareholder Lim Tian Moh has trimmed his stake in the construction firm to 5.59 per cent from 5.74 per cent on Tuesday, selling 940,000 shares on the open market. Mr Lim had sold 60,000 shares on
        108 words
    • Article, Illustration
      420 6 OTHER SINGAPORE INDICES Feb 16 VALUE CLOSE BT OB/OS 45.00 -38.00 BTCADi -*****.00 +37.00 BT 10-day MA -*****.00 +5.00 All-SG Equities 558.81 -1.82 SG Equities Elect 161.28 -0.17 SG Equities Fin 1654.19 -11.73 SG Equities Prop 544.66 -0.62 SIMSCI 256.67 -1.34 SiMSCI Futures 256.10 -1.80 MOST ACTIVE STOCKS VOLUME Chart
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  • COMPANY NEWS
    • 425 7 Fu Yu profit up 121% at $72.6m on gain from listing M'sian unit A WEEK into the Chinese New Year, listed companies continue to dish out the hongbao as plastic maker Fu Yu Corp joins the ranks of other firms rewarding shareholders
      425 words
    • COMPANY BRIEFS
      • 62 7 UNITED Test and Assembly Center (Utac) has appointed Mike Lee as president of China operations and Jeanette Liau as group vice-president for human resource and organisational development. They will report directly to Lee Joon Chung, group president and chief executive officer. Mr Lee has 20
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      • 32 7 DAKA Designs is issuing a dividend of half a Singapore cent for each ordinary share of 15 HK cents for the financial year ending March 31 2005.
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      • 78 7 Semitech Oswin served summons SEMITECH Electronics and subsidiary Oswin Technology have been issued a writ of summons. Semitech said that Group Sense PDA is claiming that Oswin and/or Semitech had failed to make payment for certain personal digital assistant mobile phones that it delivered to Oswin. Group Sense claims a
        78 words
      • 41 7 SINGAPORE Exchange (SGX) has issued a statement to clarify a media report yesterday, "PwC releases interim report on China Aviation Oil to SGX". SGX said that it did not receive the interim report from PriceWaterhouseCoopers.
        41 words
      • 90 7 FORTUNE Reit has appointed Billy Yeung Shin Hing as chief operating officer effective yesterday. Mr Yeung will work with the chief executive officer on the strategy for the company, run the day-to-day operations and work with the investment, asset management, fund management and financial personnel.
        90 words
    • 368 7  -  By LIZA LIN OIL and gas equipment supplier KS Tech Ltd exceeded analysts' expectations, unveiling yesterday a strong performance for FY2004. The company also proposed a name change to KS Energy Services Ltd, to reflect its diversification into the energy services business.
      FILE PHOTO  -  368 words
    • 123 7 Bloomberg [MUMBAIJTata Steel Ltd, India's second-biggest steelmaker, completed acquisition of steelmaking assets of Singapore's Nat Steel Ltd, except for one of its plants in China, which is likely to be completed by April. Tata Steel will delay payment of $60 million from the initial amount of
      Bloomberg  -  123 words
    • 648 8  -  FINANCIAL RESULTS Strong revenue in last quarter swells full-year turnover by 67% to $69m By KALPANA RASHIWALA HO BEE Investment, which yesterday reported a 163 per cent jump in fourth quarter net earnings and 23.5 per cent gain-in full-year net
      648 words
    • 408 8  -  By JEAN CHUA BETTER business across the board and higher contributions from hospitals in Malaysia helped healthcare group Parkway Holdings rack up a 50 per cent increase in net profit for the financial year 2004. The mainboard-listed company posted net profit of $50.5 million,
      408 words
    • 238 8  -  By PEPPER LEE MANDARIN Oriental International, the global hotel investment and management group, yesterday announced a recovery in profits and a 23 per cent year-on-year growth in turnover. Combined total revenue of its hotels was $667.3 million for the year ended Dec 31, up from
      238 words
    • OTHER RESULTS
      • 69 8 MAINBOARD-LISTED United Envirotech Ltd (UE), which deals with wastewater treatment, reported a 26.6 per cent fall in profit for 2004 to $6.21 million. Revenue fell 20.7 per cent to $12.1 million. UE expects higher revenues for the current year on the back of a stronger order
        69 words
      • 109 8 REFUSE collection company Colex Holdings yesterday announced a climb in profit to $1.72 million for 2004 from $1.16 million previously. The 47.9 per cent rise came despite a 6 per cent fall in revenue to $37.5 million, which was caused by a lower turnover
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      • 55 8 YEO Hiap Seng (Malaysia) Bhd has reported a net profit of RM771,000 (SS333.000) for the three months ended Dec 31, down from RM4.45 million previously. For the full year, YHS said net profit fell to RM11.45 million from RM18 million. It has recommended a
        55 words
      • 100 8 CHINA Food Industries is expanding its cold-room capacity in Singapore from the current 3,500 tonnes to 8,500 tonnes by the end of first quarter 2006. It has acquired a property with a built-up area of4,677 sq m. The company has also voluntarily adopted
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    • 512 8  -  By CHEN HUIFEN CONTRACT manufacturer Hi-P International yesterday posted a record net profit of $88 million and is now setting sights on becoming a billion-dollar company in three years. "Years ago, when I was at an Hi-P factory opening, I mentioned that
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    • 282 8  -  By JOSEPHINE TAY MAINBOARD-LISTED stainless steel group AnnAik yesterday reported a 24 per cent net profit increase to $4.51 million for the year ended Dec 31. The improvement came on the back of a 51 per cent jump in turnover to $59.9 million.
      282 words
  • Page 7 Advertisements
    • 16 7 I Call 1800 289 8822 or email recruit@sph.com.sg for your recruitment solutions x IkiiliiftlJlM ri ITI
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    • 50 7 E39Sl9*** Eh money Spoils Best Newly Listed Company in Singapore One of the world's largest manufacturer of cocoa ingredients under the Delfi® brand and a major player in branded chocolate confectionery tr 311^iC KJUimma J**. 2<ikt Mmzl WH *A ft. 'V~ "hit ■Tf ■lr KIM FOODS limited www. petrafoods .com
      50 words

  • Page 8 Advertisements
    • 94 8 Virgin Islands Islands SOMfeNMS TZ Mauritius Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate I planning. For further information and immediate service please contactFlorence Nathan or Marie Lim OFFSHORE CORPORATE SERVICES 1 Raffles Place, #21-01 OUB
      94 words

  • MID CAPS
    • 930 9  -  Furniture maker's latest earnings are still as solid as ever, despite analysts' downgrades, writes WONG WEI KONG WONG WEI KONG YOU would think, looking at the downgrades which greeted HTL International Holdings's latest results, that the sofa maker and leather tanner has disappointed with its
      FILE PHOTO; Source: Bloomberg  -  930 words
    • 4482 9 UNIT TRUSTS FUNDS UP Gteed 5CV2 1.*****/ UP G'teed 7 0/2 1.*****/ AM Amro Asset Mgt (S'pore) 1 Star Europe Eqty!** IZ. 0812/ nL^S/n? 3 12S Star Europe Bond 1J66/ ,tUS iX, S» AsIanTigerEqty 09W UPSw!$3 FUND 5.0a«i% Z 0J6373/ UPSWING FUND 5 0/2/100% 0.*****/ a<*fj SWING 5/1/105% *****8/ sa
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  • Page 9 Advertisements

  • SINGAPORE NEWS
    • 230 10 SINGAPORE'S biggest online travel portal Zuji expects its sales to double this year, even as it announced sales growth of 200 per cent last year over 2003. Zuji Singapore's general manager Christina Siaw said last year's good results were driven by customers being attracted to
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    • 566 10  -  ERNST YOUNG WORLD SUMMIT He said hunger for knowledge, money and success will be the driving force By CHUANG PECK MING ASIAN enterprise and entrepreneurship is set to soar in the coming years, according to Senior Minister Goh Chok Tong. There are
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    • 296 10  -  By JOSEPHINE TAY THE region's largest career and education event, Career 2005,-returns this year with more than 10,000 jobs and 50,000 education opportunities available. Spanning three halls at Suntec City, the exhibition which runs from March 3 to 6 boasts participation by
      296 words
    • 432 10  -  By JOYCE KOH THE figures speak for themselves. A deluge of money is pouring into China drawn by the vast economic potential of the country, but investors who want to make their fortunes there still have to tread with caution. The road
      432 words
    • 1063 11  -  But cash flow pain must be eased in changing to current year assessment By ANGELA TAN SINGAPORE could better align its tax collection with its economic performance by switching to current year assessment from preceding year but tax payers are unlikely to enjoy
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    • 342 11  -  By CAROLYN QUEK MOST Singaporeans are confident about their country's future, but bread-and-butter issues remain some of their topmost concerns, a poll commissioned by the Feedback Unit has found. The face-to-face poll of 1,064 citizens carried out in November and December last year—questioned respondents about
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  • Page 10 Advertisements
    • 369 10 f» <J,7 A 4&&w> h £k (mL9> 1 "23 February 2005 Great Health! V^ Usher in the Year of the Rooster at the Phoenix Garden Cafe with a complimentary* lo hei and our festive buffets. Our local favourites like Hainanese chicken rice, spicy laksa, and our ever-popular crispy Roti Prata
      369 words
    • 194 10 ASIA-PACIFIC EXECUTIVE MBA Pnirai llgbllihts Top ranked as a fully Asian Executive MBA program by Chief Executive China (2002) Opportunity to establish a strong international network of top executives Blending the best of East and West, with a focus of doing business in Asia Optimal learning with minimal disruption to
      194 words


  • FOCUS: SERVICES
    • 1096 12  -  CORPORATE TRAINING EDB plans to attract 100,000 executives to Singapore for corporate courses by 2012, CAROLYN QUEK reports CAROLYN QUEK SINGAPORE'S Global Schoolhouse programme envisages an all-rounded and diverse environment, with schools that cater to areas such as policy studies, lifestyle, media and sports such as tennis
      FILE PHOTOS  -  1,096 words
  • Page 12 Advertisements
    • 75 12 96.7% stopped losing hair. No drugs, no strong smelling herbs and chemicals, and no needles. ElectroTrichoGenesis (ETG) is a US$l5 million science published and discussed in leading medical journals. For the first time in this region, the treatment is made available through the establishment of EHR Centre in Camden Medical
      75 words

  • ECONOMY WATCH
    • 718 13  -  0.1% contraction is third consecutive drop By ANTHONY ROWLEY in Tokyo JAPAN'S gross domestic product (GDP) contracted for a third straight quarter in the final three months of last year, confirming that the world's second-largest economy had sunk back into recession for the
      718 words
    • 328 13 Reuters [KUALA LUMPUR] Malaysia's Consumer Price Index (CPI) rose at its strongest pace in more than 5 years in the 12 months through January, data showed yesterday, but economists expect interest rates to stay low due to excess liquidity and slowing
      Reuters  -  328 words
    • 499 13 But US, Australia have refused to be part of the treaty Bloomberg [TOKYO] Thirty-five nations and the European Union will have to cut their emissions of greenhouse gases after the Kyoto Protocol a seven-year-old world plan to fight global warming came into force yesterday.
      Bloomberg; AFP  -  499 words
    • 411 13 Bloomberg [JAKARTA] Indonesia's economy expanded in the fourth quarter at its fastest pace since 2000 as cheap credit spurred consumers to increase spending on goods including cars, motorcycles and mobile phones. South-east Asia's largest economy grew 6.7 per cent in the
      Bloomberg  -  411 words
  • Page 13 Advertisements
    • 80 13 Where to wine, dine and entertain... 7 wwwxUnersxonuig Ifs official. We're in Announcing a merger? Call 1800 289 8822 or email notices@sph.com.sg to book your advertisement in our newspapers now. j i i i i i Straits Kitchsn o>i 64i6 hi 4) 1 enjoy exclusive privileges at the new Straits
      80 words
    • 62 13 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 from 3pm to Bpm on weekdays and all day weekends. RAFFLES 'Am MARINA 10 Tuas West Drive *****04 Tel: 6861 8000
      62 words
    • 34 13 Toss to Prosperity. Heat. I Good Luck 6 Peace Lf" Fa Cai Vu Sheng (r Lunar Neui Vear Specialities Good lack Hong too with l 'Lucky' Bif Swe«p Tick* Offrr ends on 23/2/2005 r-t-A;
      34 words
    • 97 13 Cafe Plaza Tantalising "Chap CiOH Mei" Buffet At Cafe Plaza 23 Februaty 2005 Celebrate the New Year festivities at Cafe Plaza. On "Chap Goh Mei", Cafe Plaza serves a traditional Lunar New Year Lo-Hei Yu Sheng Buffet featuring wholesome Hong Kong dishes. Lunch: Adult $29.80 Child $18 Dinner: Adult $32.80
      97 words
    • 44 13 MERITUS MANDARIN SINGAPORE LOCAL HIGH TEA FAVOURITES Weekdays: $24.80+++ Weekends: $26.80+++ Reservations: Mezzanine rwi c/n s r MERITUS MANDARIN tlut A division of Overseas Union Enterprise Limited (Company Registration No *****0050E) 333 Orchard Road, Singapore *****7. Tel: +65 6737 4411. Fax: +65 6732 2361.
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  • MALAYSIA/INDONESIA
    • 590 14  -  Philippine brewer's application to set up plant to produce beer turned down By PAULINE NG in Kuala Lumpur A MALAYSIAN government agency's grant of a licence to produce non-alcoholic drinks rather than one for liquor has met with a deafening silence from
      AP  -  590 words
    • 223 14 Reuters [KUALA LUMPUR] Shell has secured a wider exploration area in oil-rich deepwaters off Malaysia's eastem Sabah state, where the oil major and US rival Murphy have already announced major discoveries, Malaysia's Petronas said yesterday it has awarded two new blocks off Sabah,
      Reuters  -  223 words
    • 2282 14 vol FS8M .0.98 -0.02 7 H> n (*000) FTEC Resources .0.39 -0.01 199 a s kji FufqanBus.Org 037 -0.01 3670 A»M Realty 1.65 unch 0 Gadang 1.41 -0.02 591 ACP^ndustrips lid "!!51 M 0.05 926 *5. 1.14 unch 0 General Corp .0.51 -0.01 343 £JZf SynWgy
      2,282 words
    • 338 14  -  It also expects 10-15% growth this year By SAMUEL EE THE BMW Group may have set a sales record in Asia last year by selling 2.6 per cent more cars, but the Mu-nich-based carmaker expects double-digit growth in 2005, or about
      338 words
    • 179 14 Reuters [KUALA LUMPUR] Malaysia's top lender Malayan Banking Bhd may post al3 per cent rise in quarterly earnings tomorrow, helped by a drop in bad loan charges and growth in lending and fee-paying businesses. Malaysia's other top banks are also expected
      Reuters  -  179 words
    • 305 14 Bloomberg [JAKARTA] PT Bank Central Asia, Indonesia's second-largest lender by assets, posted a 32 per cent increase in 2004 profit as an expanding economy spurred companies and individuals to borrow more. Unaudited net income last year was 3.2 trillion rupiah (*****.6 million),
      Bloomberg  -  305 words
    • 534 14 Huge infrastructure projects expected to provide boost Reuters [JAKARTA] Lower proceeds from government bond sales diluted fourth quarter profits at major Indonesian banks, but analysts said full-year earnings were still expected to be robust due to strong loan growth and
      Reuters  -  534 words

  • INDIA/GREATER CHINA
    • 642 15 Aim is to boost revenue to pay for spending on health, education and infrastructure Reuters [NEW DELHI] India's com-munist-backed government, striving both to spend more on the poor and cut its deficit, is likely to widen the tax net and streamline its complex tax
      Reuters  -  642 words
    • 436 15 False document discovered by SEC among evidence [HONG KONG] Citigroup's dismissal last June of Margaret Ren was due to her alleged involvement in faking a document submitted to US regulators probing the US$3.4 billion listing of China Life, the Financial Times reported, citing
      436 words
    • 262 15 Bloomberg [SYDNEY/HONG KONG] Insurance Australia Group Ltd, the nation's largest car and home insurer, plans to buy a 25 per cent stake in China Pacific Insurance Co's property unit, China's second biggest, people familiar with the plan said. China Pacific, which has
      Bloomberg  -  262 words
    • Article, Illustration
      64 15 [BEIJING] A worker prepares to take down decorations at a park in Beijing, as the week-long Chinese New Year festivities come to an end. Freezing temperatures in China kept many people indoors, though hundreds of millions ofpeople, mostly migrant workers and students, have returned home for the week-long,
      AFP  -  64 words
    • NOTE BOOK
      • 94 15 Reuters [TAIPEI] United Microelectronics Corp (UMC), the world's second-largest contract manufacturer of microchips, was probed by Taiwan's Bureau of Investigation over alleged illegal investments in China, the Taiwan company said yesterday. UMC spokesman Liu Chitung said Taiwan prosecutors and officials from the Justice Ministry's
        Reuters  -  94 words
      • 122 15 Reuters Bernama [KUALA LUMPUR] Bank Islam Malaysia Bhd is set to hire a former Citigroup executive, Noorazman A Aziz, as its new managing director. The Star newspaper reported yesterday, quoting unnamed sources. However, its general manager of consumer banking, Wan Ismail Wan Yusoh said
        Reuters; Bernama  -  122 words
      • 144 15 Reuters [VANCOUVER] Inco Ltd is keen to increase its stake in PT International Nickel Indonesia, or PT Inco, its nickel mining and processing subsidiary on Indonesia's Sulawesi island, the large Canadian miner said on Tuesday. "I suspect that if we had
        Reuters  -  144 words
      • 92 15 Reuters [SEOUL] Hyundai Motor Co, South Korea's biggest carmaker, said yesterday it would build a second car plant in India to meet growing demand and aimed to use the country as a regional export centre. Hyundai was targeting a 16 per cent increase in
        Reuters  -  92 words
      • 94 15 AFP [JAKARTA] A strong earthquake measuring 6.2 on the Richter scale shook the Indonesian province of North Sulawesi overnight, but there were no immediate reports of damage or casualties, meteorologists said yesterday. The offshore quake occurred at 9:42 pm in the Pacific Ocean some 378
        AFP  -  94 words
      • 100 15 Xinhua [WUHAN] China's Three Gorges Dam on the Yangtze River is expected to open to tourists this year, according to the local tourism department. The Three Gorges Dam, 2,309 metres long and 185 metres high, is expected to be completed by the end
        Xinhua  -  100 words
    • 200 15 Bloomberg [NEW DELHI] Iran expects to export as much as 50 billion cubic metres of natural gas a year to India through a proposed 2,775-kilo-metre pipeline by 2015, M H Rahbari, director of National Iranian Gas Export Co, said
      Bloomberg  -  200 words
    • 209 15 Regulators hope move will boost struggling bourses AFP [SHANGHAI] After months of delay, China yesterday announced that insurance companies will be able to invest in the domestic stockmarkets, a move that regulators hope will boost the country's languishing bourses. The China Insurance Regulatory
      AFP  -  209 words
  • Page 15 Advertisements
    • 251 15 IN THE MATTER OF THE COMPANIES ACT. CAP. St AND IN THE MATTER OF SAILSPIRIT (SINGAPORE) PRIVATE LIMITED (PROVISIONAL LIQUIDATORS APPOINTED) REG. NO. 197M33MZ NOTICE OF MEETTOT. nr rwnrmpc NOTICE IS HEREBY GIVEN thai pursuant to Section 296 of the Companies Act, Cap. 50. that a MEETING OF CREDITORS of
      251 words
    • 265 15 IN THE MATTER OF COMPANIES ACT, CAP 50 AND IN THE MATTER OF EVELCA INVESTMENT PTE LTD (REGISTRAUON NO.: *****3542W) (IN VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that in pursuant to Section 308 of the Companies Act, Cop 50 the Final Meeting of the Members of the abovenamed Company will
      265 words
    • 184 15 In The Matter Of The Companies Act, Cap. 50 And In The Matter Of SINEXIMCO PTE LTD (Reg. No. *****3671Z) NOTICE OF CREDITORS' MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, CAP. 50 NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act, Cap. 50, a
      184 words

  • ASIA-PACIFIC/WORLD
    • 518 16 39% rise shows bank can deliver for shareholders on its own: CEO Davies Reuters Bloomberg [LONDON] Standard Chartered chief executive Mervyn Davies said the Asiafocused bank wanted to stay independent as it reported 2004 profit in line with market expectations yesterday. Pre-tax profit for
      Reuters; Bloomberg  -  518 words
    • 503 16  -  NEWS ANALYSIS Korea deal shows bulk purchases do pay off, says RONNIE LIM RONNIE LIM SINGAPORE'S plan to import liquefied natural gas (LNG) for power stations, homes and industry looks viable at least going by the latest US$2O billion LNG purchase yesterday by Korea Gas
      503 words
    • 56 16 [SARAJEVO] A Bosnian woman walks through a snow drift in a street in the capital Sarajevo. Meteorologists this month registered record low temperatures in the past 20 years. Most of the country was hit by frozen snowdrifts topping one metre and many roads and schools
      REUTERS  -  56 words
    • 231 16 Bloomberg [SYDNEY] Singapore Power Ltd is studying offers it's received for some of the Australian energy businesses it bought last year from TXU Corp. The company received approaches from groups for partnerships or for the purchase of the power-genera-tion and energy-retailing business, said Loh
      Bloomberg  -  231 words
    • 477 16 It may use proceeds from the US$317m sale to acquire credit card, insurance firms Reuters [SEOUL] Hana Bank plans to sell a 6.4 per cent stake worth US$3l7 million to a foreign investor in the first half, a senior
      Reuters  -  477 words
    • 783 16  -  ASIA INSIGHT Too much syndicated journalism flows from rich to poor societies and not enough the other way ANTHONY ROWLEY Tokyo Correspondent A I ORTH is North, and 1% I South is South, and I I never the twain shall \1 meet," is not quite
      783 words
    • 327 16 Reuters [TOKYO] A pre-dawn earthquake with a magnitude of 5.4 jolted the Tokyo region yesterday, injuring at least 27 people and disrupting early morning transport. No major damage was reported, officials said. Most injuries were caused by falls, including a 68-year-old woman who
      Reuters  -  327 words

  • WORLD
    • 626 17 Decline in energy demand leaves production at factories, mines and utilities flat Reuters Bloomberg [WASHINGTON] US housing starts unexpectedly rose 4.7 per cent last month to a nearly 21-year high as single-family housing starts shot up to a record, a Commerce
      Reuters; Bloomberg; BLOOMBERG  -  626 words
    • 514 17 Reuters [ROCKVILLE] The US Food and Drug Administration (FDA) is creating a new drug safety board to improve the monitoring of medicines already in the marketplace. Tuesday's announcement came on the eve of a three-day FDA meeting called to discuss the safety of
      Reuters  -  514 words
    • 398 17 Moves come as part of plan to restore group's reputation Bloomberg [New York] Citigroup, whose regulatory and legal setbacks have cost it at least $5.5 billion since 2003, will hold ethics classes for all employees under a "fivepoint plan" to restore accountability and
      Bloomberg  -  398 words
    • 612 17 Credit Lyonnais and CDR have agreed to pay US$600m AFP (LOS ANGELES] Credit Lyonnais and the French government have tentatively agreed to pay US$6OO million to settle the allegedly fraudulent 1991 purchase of California insurer Executive Life, officials said. Credit Lyonnais and the CDR,
      AFP  -  612 words
    • 417 17 Reuters Bloomberg [HOUSTON] Asia's insatiable appetite for oil coupled with tight supplies has started a global bidding war for oil from the Middle East, the head of ChevronTexaco Corp warned on Tuesday. Its CEO, Dave O'Reilly, said the rapid growth
      Reuters; Bloomberg  -  417 words
    • WORLD WATCH
      • 80 17 Reuters [LONDON] Britain's Office of Fair Trading said on Wednesday it has decided not to refer two rival offers to buy the London Stock Exchange to antitrust officials in Brussels, a step that may avoid prolonging the merger battle. Deutsche Boerse and Euronext are vying
        Reuters  -  80 words
      • 68 17 AP [LONDON] Reuters Group's earnings soared in 2004 as a stringent cost-cutting programme and the sale of assets paid off for the news and financial data provider. Net profit rose to £352 million (Ssl .08 billion) from £50 million in 2003, bolstered by gains from asset
        AP  -  68 words
      • 64 17 Bloomberg [PARIS] Saudi Prince Alwaleed bin sTalal and two Western partners pulled out of a plan to buy the Intercontinental Paris hotel because the price was too high, a spokesman for the prince said. Intercontinental Hotels Group wanted more than 300 million euros ($641 million)
        Bloomberg  -  64 words
      • 56 17 Reuters [NEW YORK] A former senior executive at Marsh McLennan Cos and two executives who worked at American International Group have pleaded guilty to fraud charges stemming from New York Attorney General Eliot Spitzer's probe of the insurance industry. Mr Spitzer's office said it has obtained nine
        Reuters  -  56 words
      • 56 17 Reuters [WASHINGTON] The US government raised U552.25 billion in an auction of wireless airwaves that ended on Tuesday, with Verizon Wireless and a partner collectively winning 63 licenses with U*****.4 million in bids. Some of the licenses were limited to small entrepreneurs, so larger carriers
        Reuters  -  56 words

  • AVIATION
    • 472 18 Reuters [EVERETT, Washington] Boeing Co unveiled a long-range version of its 777 commercial airliner on Tuesday, which the company Said can fly from London to Sydney, making it the world's longest-range commercial aircraft. With the launch of the new 777-200LR (long range) 'Worldliner', Boeing is
      Reuters; AP  -  472 words
    • 476 18 AFP [NAGOYA] Japan's third major international airport opens today outside Nagoya in a bid to connect the country's industrial heartland better to other parts of Asia and the outside world. Centrair airport, built on an artificial island, was billed as ultra-modern in its use
      AFP  -  476 words
    • 275 18 Reuters [PARIS] A terminal at France's main international airport was weakened by a sharp drop in temperature and cracked before part of it collapsed last year, killing four people, an official report said on Tuesday. Jean Berthier, head of an independent commission investigating
      Reuters  -  275 words
    • 663 18  -  Cheow Tong requests this of Aussie counterpart John Anderson By VEN SREENIVASAN [SINGAPORE] Singapore Airlines should be allowed to fly between Australia and the west coast of the United States by this time next year, Transport Minister Yeo Cheow Tong said yesterday.
      663 words
    • 1896 18 5H www «ta man rrp kbs7 1015 soaoe i«ss OanpasafBali SQ141 1145 SO 142 0935 AdaUida LH9771 1855 AF8088 2250 SQ'<3 1535 SQ146 1640 ***** 1855 BA7382 2250 GA840 1725 GA841 1825 QF82 2250 5Q147 2230 5Q148 1900 immSm 5Q323 0645 KL838 2330 SQ435 0550 SQ436
      1,896 words
    • 297 18 AP [CHICAGO] United Airlines said it has received four offers of debt financing worth US$2.5 billion to help the nation's No 2 carrier emerge from bankruptcy. United spokeswoman Jean Medina would not say which financial institutions had made the offers and said there was
      AP  -  297 words

  • SHIPPING
    • 463 19  -  It will share 33.33% of Vallarpadam revenue with Kochi Port Trust By DONALD URQUHART [SINGAPORE] Dubai Ports International (DPI) has finally sealed the deal with India's Kochi Port Trust to construct, develop and operate the US$5OO million container transhipment terminal at Vallarpadam after
      FILE PHOTO  -  463 words
    • 141 19 Bloomberg [KUALA LUMPUR] Knifewielding pirates were prevented from robbing a cargo ship at Banjarmasin Roads in Indonesia after they were' spotted by the ship's officers, the International Maritime Bureau said in its weekly piracy report. The 12 robbers escaped in speedboats after the
      Bloomberg  -  141 words
    • 300 19 SGX '000 Feb 16 SS Vol CH Offshore 0.39 unch 5750 ChuanHup 0.76 0.03 ***** Cosco Corporation 1.45 unch 3811 CWT Distribution 0.69 -0.01 49 Ezra Hldgs 1.10 -0.01 263 Freight Links 0.09 unch 1871 Grand Banks Yacht 1.08 0.02 57 Jaya Holdings 1.09 unch 826 K1 Venture
      300 words
    • 309 19 Bloomberg [HONG KONG] Hutchison Whampoa Ltd, Cosco Pacific Ltd and other operators of Hong Kong's port handled 7.8 per cent more containers in January as shipments of Chinese-made goods to US, Europe and Japan increased. Hong Kong, the world's busiest container port, handled
      Bloomberg  -  309 words
    • 271 19 Bloomberg [SINGAPORE] The price paid for ships to be scrapped for steel rose 5 per cent to a record last week in Bangladesh, the world's largest ship-break-ing market, as buyers competed for oil tankers to wreck. Cash buyers, middlemen who buy
      Bloomberg  -  271 words
    • 227 19 Reuters [LONDON] Britain's biggest ports operator, Associated British Ports said yesterday full-year profit rose 4 per cent after long-term contracts drove growth at its ports business. AB Ports, which handles about 25 per cent of Britain's seaborne trade, said new customer contracts that
      Reuters  -  227 words
    • 987 19 NYT [NEW YORK] The cruise business is growing in some of the big cities, and New York is one of them. Buoyed in part by faster ships and also by the Sept 11 attacks, when many US travellers began turning to local
      NYT; AFP  -  987 words
  • Page 19 Advertisements
    • 33 19 I ~T~\.—l Get a Leading Edge J Your sailing schedules get wider attention in The Business Times shipping pages I Call Joe Wong at 6319-2062 ernar d Ong at 6319-1645 BUSKSSftCS Shipping times
      33 words

  • EDITORIAL & OPINION
    • 534 20 EDITORIAL SINGAPOREANS may finally get that two-point cut in the personal income tax rate, which didn't materialise last year, when the 2005 Budget is unveiled tomorrow. Some personal tax reliefs, incentives and sweeteners, particularly for the chronically jobless and the elderly, could also be on the
      534 words
    • 937 20  -  Pay-tax-as-you-earn, tax rebate, retraining and SME incentives are likely on the cards By P K BASU THE global economy has had two spectacular years, with global growth in 2004 over 5 per cent —being the fastest in at least three decades. Singapore, too, has
      AFP  -  937 words
    • 779 20  -  THE BOTTOM LINE JOHN GEE BRITAIN'S Labour government is edging, with a nudge and a wink, towards formally announcing the date of the next general election. It will probably be on May 5. The outcome is already regarded in most quarters as certain: Tony
      779 words
    • 1083 21  -  Jakarta has developed a road map to improve the business environment and make the investment climate more attractive By SUSILO BAMBANG YUDHOYONO I HAVE specifically asked for this meeting with the business community in Singapore, because I know Singapore investors have always supported us through
      ST/ONG CHIN KAI  -  1,083 words
    • 828 21  -  ROBERT SAMUELSON The Washington Post Writers Group YOU'VE probably never heard of Flemming v Nestor, but it's a 1960 Supreme Court decision that demolishes the Bush administration's case for borrowing vast amounts to pay for its proposed "personal" Social Security accounts. The White
      The Washington Post Writers Group; AP  -  828 words

  • Page 21 Miscellaneous
    • 346 21 CRYPTIC CROSSWORD ACROSS 3 Following all others, I have to 1 Change the country, switch- uneasy (7) ing between this and that? 4 The country's new regalia (7) (11) 5 Home team has man suffer--7 College food for a Govern- ing on account of a type of ment house (7)
      346 words

  • 9753 22 STRAITS TIMES INDEX STOCKS s«w* w Qm ttw ste<t«— art o— omm AilgreenSOc 029 1.100 *0010 NOL 242 3600 -0040 BIL mil US20c 0,50 V140 +0.010 OCBC 9.66 13 800 CapitaUind 149 2370 Parkway M 25c 0.72 1 650 Chart SemiCood 26c 0 80 1 120 <0080 People's
    9,753 words

  • 5790 23 FINANCE COMMODITIES INTERBANK CROSS RATES AS C$ Rmb Euro HK$ indtoKupiah Y«n Won KM NTS nk *s Ptw S$ Mod Sfr NTS B*ht Pound US$ 0 966 6.495 0.602 6.121 34.362 72.954 0.824 8.052 2.982 1,097 46.595 43.190 1.288 4.694 0.931 24.768 30.207 0.414 0.785 6.722 0.623 6.335 35.564 75.506
    5,790 words

  • Page 24 Advertisements
    • 1392 24 I IMPORT I NORTH AMERICA AUSTRALIA/NEW ZEALAND I SUPER SHUTTLE EXPRESS (SSX) YlSSfl I ypy I IGI I no [MIBTIIAUA ASU EXPRESS (AAX» PtO NEDUOYD KOK 45W04 02/02 21/02 22/02 Js**§ VOT ONI STB MB A* Hi SW TO LOS ANGiIiS EXPRESS 11W0S 10/02 27/02 01/03 KANMUM 0M OMIT 07/02
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    • 76 24 UK CONTINENT SERVICE Loading tor LOK PRATAP RTM/ATW/BMN/UK/NAN SPYROS B RTM/ATW/BMNAJK/NAN Loads Singapore, EVW. Matayaia. Indonesia MIDDLE-EAST SERVICE Loading for BEAUTY K ADN/HDD/JDH/AQA SEA UNITY DBI/ABU/DOH/BRN/DMM/KWT PANORMOS PRIDE HOO/JOH/AQA •Loads Singapore, E7W. Matayaia, Indonesia USA SERVICE Loadingfor HANJIN TAMPA VCW/VCB/LAX/MZL MARY H CAM/NFK/SAV/NOL "Loads E7W. Malaysia, Indonesia F.E./S.E.A. SERVICES S
      76 words
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    • 781 25 JEBS& ffl_ Tnreu HCM HKG- KYH HIS VESSEL fiflUHuym —ml a/2 mZjm new dynamic m urMll 00SW 15/2 16/2 11/2 PEWH IKIDGE I 073 A 10/2 12/2 I GOLDEN GATE 503N tin I ?f/T 25/2 MEW DYNAMC 080A| 17/2 W~ JSSHL WY PKG SW HKG SNA ttO HSK VESSEL VOY
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    • 153 25 AEuißniufl Q«martrans (S) Pt• Ltd GEMARTRANS (MM lOH OOOC W CRM* **********0R FOR tOOKMQk TtL FAX: BMQAPORE *****881/ *****082 MNNI/ *****110 KUALA LUMPUR (03)*****819 (03)*****102 HUIDteTdHa! CArtOURIES S M 702 M/ 02 GEMAR TRANS PIONEER 2IN 22/02 25/02 GOUOtGAn SO3N 22/02 2S/02 UUUM 196N 21/02 03/03 CAPE CHAR US 046E
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    • 748 25 W WEEKLY EXPRESS SAIUNG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN IGD POINTS vtssa vot Isw pjuamgl cotowtol H SKVA cotowo mo* Mfa It fa bb mm lAYIHO6t ODtW PHASE OUT MQFKQIIBT 0004W 2IFB MMAI PS MAI 01 MAI II MAI HOT* PBWKA TWWSM7MAI WMAI 12MAI 15 MAI UMAI
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  • Page 26 Advertisements
    • 695 26 lAmI wallenius wilhelmsen website: http://www.2wglobal.tom VESSEL VOY RAMP UC ~MAO~ HOW ~MIA SAY lAI QRf NYC ~MEW MOi~ TAMERLANE AFSO4 3201 m 6.4 M IMPORT 10/03 20/03 27/03 21/03 02/04 31/03 04/04 24/03 TAWO U505 <2 01 m **M I 02/03 26/03 05/04 11/04 13/04 17/04 15/04 19/04 01/04 TAUSMAN
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    • 497 26 *21 M -ffisa mm an jtt PACIANOA *****1 10/02 11/02 gfl»{M7 KM IZZB 2#M_ -yy«s« KBL -S3 BiS 3%pacmmpa 14 low 20/02 11/0? imtm wm 23/03 iz/w pacmmpa mm 22/02 22/02 PACIAHDA 1412N 23/02 24/02 yum ygy yj ojl PACiAMOA 1413N 25/02 2570T~ ERgC! M n 2]/ n !<•« sts
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    • 41 26 da dawn international unis RORO 4 BRIAKBUUC SERVICE ETA SIN LOADING FOR: 03/03/05 ALL AUSTRALIAN BASE PORTS 07/03/05 JEKL AU, DUBAI 09/03/05 CHtTTAOONO, HALDIA Mto atafthg myux $o BaipfcuA, Lamm Clufang twtd tunpm porti fls* 41 Call: 6266-5645, 6261-0660 Email: winston.ong6dawnintl.com.sa
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    • 545 26 MYANMA FIVE STAR UNE (Mvawnir National Um) loading for Yangoß vissa vor sin pkl pin pgu PAGAN 341W SID HPA-AN MOW SU) IN MAIATSIA: OOUSTEAD SHIPPING AGENCIES KIH/PKL 03-300 SUM PIN: 04-2*3311S ACCEPTIWa COMVEMTIOiAL CBO KG SM HUG SM PGU PU KIK SHMREN ACE 114 SU) SU) SU) ■RAVE HEART
      545 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 4008 27 This SIN Dtsfn Mam* JZK £*7 SIN n 2T i2K T £2r Itewbw Number 28/03 14AM Delmas DELMAS ANGO 004W *****344 To ABIDJAN (ABJ) 2003 Cote O'lvoire 02/03 26/03 Delmas VERONIQUE DELMAS 5I4W *****344 To FELIXSTOWE (FXT) 2127 U.K. 11/03 05/04 Del mas GABY
      4,008 words

  • BizIT
    • 844 28  -  BT exclusive The company has 45,000 business partners in Asia-Pacific to help deliver IT solutions to SMEs, reports RAJU CHELLAM RAJU CHELLAM THE exit of HewlettPackard Company's high-profile chief Carly Fiorina has not stopped the company's plans to roll out new initiatives in
      844 words
    • 311 28  -  By RAJU CHELLAM AS the desktop decays, the laptop leaps. Desktop PC shipments worldwide are set to grow at a slower 6 per cent while notebook computer sales soar 17 per cent this year, says the latest report from Gartner Inc. Overall PC shipments
      311 words
    • 261 28  -  By AMIT ROY CHOUDHURY THE Business Software Alliance (BSA) yesterday offered rewards of up to $20,000 for information on the under-licensing or use of illegal software in the workplace. And potential whistleblowers can call a new BSA hotline to report such cases.
      261 words
    • 593 28 Internet Explorer 7 will help fight competition from Firefox: analysts Reuters [SAN FRANCISCO] Microsoft Corp will release a new version of Internet Explorer, the world's most widely used Web browsing software, with stronger, built-in security features, chairman Bill Gates said on Tuesday. The
      Reuters; AFP  -  593 words
    • 574 28  -  Thesmartphone market is predicted to see sharp growth By ROLAND LIM HOT on the heels of its recent announcements at the recent 3GSM World Congress in Cannes, France, Nokia unveiled on Tuesday three new handset models for the Asia-Pacific market, including a new 3G
      574 words

  • PROPERTY
    • 536 29 It also bought two buildings for HK$650m, seeks HK logistics assets Reuters [HONG KONG] Property fund manager LaSalle Investment Managers is keen on China and Japan and is looking for logistics assets in Hong Kong after announcing a HK$65O million (*****.7 million) purchase of two
      Reuters  -  536 words
    • 59 29 [SINGAPORE] More than $330,000 was raised by the Capita Land Group for Asian tsunami victims in afundraising effort which saw senior Capita Land executives donating a portion of their salaries in December. The money, handed to the Singapore Red Cross Society yesterday, came from Capita Land Group's
      59 words
    • 312 29 Bloomberg [HONG KONG] Hong Kong's Legal Aid Department has refused to grant funding to a public housing tenant who is seeking to prevent a record US$2.7 billion sale of the government's first real estate investment trust. Lo Siu-lan, who claims
      Bloomberg  -  312 words
    • 377 29 Bloomberg [TOKYO] Seibu Railway Co, which last month merged its railway service with its parent's real estate business, will consider a tie-up with Japan's second-larg-est retailer to reorganise and resume listing its stock on the Tokyo exchange. Seibu Railway may tie up
      Bloomberg  -  377 words
    • 1149 30  -  Results for 2004 released so far show mixed performance By ALEXANDRA HO MOST property analysts have been bullish on the local property market this year. Many expect a rise in residential property demand, along with better office rental prices. Several listed property companies which have
      REUTERS  -  1,149 words
    • 1287 30 Brought to you by PROJECT NAME/ PROP CONTRACT TENURE BUtHN/lAND PRICE PSF STREET NAME TYPE DATE AREA*(SQFT) fSS OOO) (SS) District 01 NON-LANDED The Sail At Marina Bay Apt 17/01/2005 99 883 763 864 The Sal At Marina Bay
      1,287 words
  • Page 29 Advertisements
    • 177 29 Prime Real Estate in Australia and New Zealand for purchase investment Property Investors, Agents Business Associates. The Investors Forum is offering you a chance to purchase invest in some of the best real estate Australia New Zealand has to offer. Learn the 7 rules of astute investing. Deal direct with
      177 words

  • Page 30 Advertisements
    • 112 30 I 1 Got the right home? Now get the right home loan. it BO Ci Buying a house in Singapore is a heavy investment. However, you can still have the freedom to live life the way you want. with HSBC home loans. Enjoy these benefits when you take up an
      112 words