The Business Times, 21 April 2005

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Total Pages: 32
1 32 The Business Times
  • 17 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg MICA (P) 089/03/2005 Thursday April 21,2005
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  • 710 1  -  Opportunities for local tech companies as foreign gaming solutions providers make their entry By RAJU CHELLAM [SINGAPORE] Specialist infotech firms offering niche solutions for casino operators could hit the jackpot once the two integrated resorts come up in Singapore. Anurag Agrawal, chief
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  • 520 1  -  Not to proceed would hurt S'pore's credibility By DANIEL BUENAS [SINGAPORE] Have faith in the judgment of the government and the strength of Singaporeans this was the call of Senior Minister Goh Chok Tong in Parliament yesterday as he shared
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  • 139 1 Dsn 2,129.25 (+0.54) ST INDEX FUTURES 2,125.00 (+5.00) SIMSCI 251.71 (+0.27) SIMSCI FUTURES 251.00 (+0.70) MARKETS Wednesday Change KLSE COMP 871.9) +4.14 NIKKEI 225 11.068.58 +22.72 HANG SENG 13,501.63 +57.54 SET INDEX 684.19 +5.82 JAKARTA COMP 1.070.95 +8.25 MANILA COMP 1,854.97 +20.91 SEOUL COMP ***** +4.91 SHENZHEN B
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  • Page 1 Advertisements
    • 9 1 BizlT IT show boosts S'pore P(J sales pg 28
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    • 51 1 CASINO 1 ■j* SAFEGUARDS Call for powerful body to oversee gambling re 4 81) !ll!!!l! Get that ||!ft job, get II ft: home It pays to widen your reach if you're looking for a home or a job. BT has prime listings of: executive and professional jobs new and landed
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    • 29 1 t ft UFEIN THEQTY Grants for old S'pore i\ $wi >/ THE 35 HOTTEST TOURIST SPOTS4NTHE WORLD Who's in, who's out PG 4 rvrx iJjiH ■■Ul -v zMf Rb, (Ej/C
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  • TOP STORIES
    • 658 2  -  Record revenues, net income and shipments for drive-maker By RAJU CHELLAM [SINGAPORE] The boom in data storage sales in the Asia-Pacific region, coupled with ever-hungry demand for the Apple iPod music player, helped the world's largest hard disk drive (HDD) maker, Seagate Technology,
      658 words
    • 72 2 IN yesterday's report "People's Food unit to offer 150 m shares in IPO", we mentioned that there were two directors of People's Food Holdings Limited on the board of Pine Agritech Limited. The investor relations spokesman for Pine Agritech has clarified'si£t there is only one People's Food director on
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    • 625 2  -  But Hong Kong still way ahead in total assets under management Reports by GENEVIEVE CUA [SINGAPORE] Singapore's efforts to woo hedge-fund managers to set up shop here appear to be paying off. Based on data compiled by Eurekahedge, Singapore
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    • 694 2 [SINGAPORE] KE Absolute, the hedge fund services arm of the Kim Eng group, will launch an investible fund of Asian hedge funds soon, offering exposure to relatively small early-stage funds. Managing director Tom Ashworth saw it-is a fallacy that start-up
      FILE PHOTO  -  694 words
    • 846 2 Receivers get court clearance to sell Bintan Lagoon Resorts AFTER having been delayed by a court petition to appoint a judicial manager, the sale of Bintan Lagoon Resorts is finally going ahead. The speculation now is whether the delay could turn out to be a blessing in disguise
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    • 309 3 INTEGRATED CASINOS 'The decision (to allow gaming in Singapore) can be construed by moral purists as sacrificing long-cherished values at the altar of Mammon. But that is really putting it too starkly and simplisitically. If Mammon can be had, demons held at bay, why
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    • 442 3  -  Singapore decision on integrated resorts could whet buyers' appetite By SIOW LI SEN [SINGAPORE] After having been delayed by a court petition to appoint a judicial manager, the sale of Bintan Lagoon Resorts is finally going ahead. And one view in
      442 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
    • 271 3 OFF T^^nlllAiWln^ooSKS^^ f Golf shops selling fake goods raided f l 32w^V l —R°^2?o%o°?f d found guif y the enforcement division of *TTje separate raids o J .ie Domestic Trade and Con- tipped us off arp shops in Kua a Lumpui sumer Affairs Ministry and t0 have Sated another in
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  • INTEGRATED RESORTS
    • 868 4 Visitor attractions that will compete with Singapore in the future Macau's Cotai strip First phase is scheduled to open in 2007. It will also offer business, leisure and entertainment attractions, including meeting and convention facilities, over 20,000 seats for live entertainment in eight theatre venues plus, of
      Source: Bloomberg  -  868 words
    • 550 4  -  Figures by World Tourism Organisation show weaker arrivals, receipts for 2003 By ALEXANDRA HO SARS, the Iraq war and a weak global economy made 2003 a difficult year for world tourism with Singapore a prominent victim of the downturn, World Tourism Organisation figures
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    • 367 4  -  By CHEN HUIFEN AN independent "tribunal" should be set up to coordinate the control and management of problem gambling here, said Nominated Member of Parliament Geh Min. Speaking in Parliament yesterday, Dr Geh suggested that the body be led by a well-respected
      FILE PHOTO  -  367 words
    • 176 4 'The question is, are we willing to accept that some families will have to break down for us to get that economic boost? I just do not think that this is in Singapore's interest.' 'If Parliament had been given the right to make the decision,
      176 words

  • Page 5 Advertisements
    • 48 5 Clearly The Best Way Td Communicate Give the special someone a call with a new Panasonic DECT. Crystal clear voice aside, you'll cherish the freedom of cordless connection and wider range. Now, don't forget to chat about this wonderful news. -V^-it'' l ;Jfc HP Jfl Hp c,earer enhance
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  • COMPANY NEWS
    • 762 6  -  Singapore brewer's strategy of buying into breweries in China paying off By ANGELA TAN IF anyone should know about the trials and errors of investing in China, it would be Koh Poh Tiong, chief executive officer of Asia Pacific Breweries (APB), maker of
      762 words
    • 356 6  -  By JOYCE KOH HYFLUX'S new substantial shareholder will be pleased with how handsomely its investment in the water treatment company has paid off. It was announced yesterday that Istithmar Private Joint Stock Co, which had agreed to take a stake in Hyflux
      356 words
    • 663 6  -  HOCK LOCK SIEW By WONG WEI KONG WILL Osim International suffer growing pains? That's a fair question to ask of the healthcare group, considering its two major acquisitions in quick succession. Last Friday, Osim announced that it would lead a consortium including
      663 words
    • 544 6  -  Besides lawsuits, it faces exodus of customers to rival By JOYCE KOH AS IF battling to stay afloat amid its fast-disappearing businesses was not enough, beleaguered Citiraya Industries now has to fight off lawsuits, put up with an increasingly active blue-chip rival, and coexist
      544 words
    • 342 6  -  By CAROLYN QUEK THOUGH business was affected by a food scare in the UK and the five-day work week implemented by the Singapore Armed Forces, Singapore Food Industries managed to dish up a palatable performance for the three
      342 words
    • COMPANY BRIEFS
      • 48 6 SC Global Developments yesterday announced the sale of a unit in its freehold luxury condo, The Boulevard Residence, at $1,900 per square foot, a price it said is "perhaps the highest since 1997 for new luxury developments in Districts 9,10 11".
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      • 95 6 PCA Technology's full-year net profit quadrupled from $2.0 million to $8.1 million on the back of a tripling of turnover, from $42.3 million to $128.7 million. The electronic manufacturing services provider credited the stronger performance mainly to increased capacity and the introduction of the new
        95 words
      • 51 6 HWA Hong has a new chairman, after the incumbent, group managing director Ong Choo Eng, voluntarily relinquished his position of executive chairman after an AGM yesterday. Taking over as non-executive chairman is Hans Miller, who joined the board as an independent and non-executive director in
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  • Page 7 Advertisements
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  • SINGAPORE MARKETS
    • 512 8  -  STOCKS Despite some positive financial announcements, the general market sentiment is that of worry, caution R SIVANITHY Senior Correspondent THE title of a recent US stockmarket report, Despite lower oil, rally runs out of gas, turned out to be an apt description of what transpired
      Source: Bloomberg  -  512 words
    • 509 8 CapitaLand group execs converting share options IT'S share options-exercising season for top executives of the CapitaLand group. CapitaLand president and chief executive Liew Mun Leong exercised options for 241,900 shares on Tuesday in the group's hotel arm Raffles Holdings, increasing his direct interest in Raffles to 291,900
      509 words
    • Article, Illustration
      435 8 OTHER SINGAPORE INDICES Apr 20 VALUE CLOSE BT OB/OS -309.00 -91.00 BTCAPI -*****.00 -48.00 BT 10-day MA -*****.00 -30.00 AH-SG Equities 548.66 4-0.22 SG Equities Elect 130.29 -0.54 SG Equities Fin 1615.36 -4.25 SG Equities Prop 556.05 -0.21 SIMSCI 251.71 4-0.27 SiMSCI Futures 251.00 +0.70 MOST ACTIVE STOCKS VOLUME UniFiber
      435 words
    • Article, Illustration
      945 8  -  Compiled by JOYCE KOH Hum Htht Holdings April 20 dose: $0,915 OCBC INVESTMENT RESEARCH, April 19 HUAN Hsin posted a disappointing 7 per cent rise in Q1 FYOS earnings to $7.1 million despite a 33 per cent year-on-year rise in revenue to $135.5 million. This was due to higher
      Source: Bloomberg  -  945 words
    • 507 8  -  CURRENCIES LARRY WEE Senior Correspondent A SOFTER than expected March US inflation figure helped to nudge an already unsteady-looking US dollar lower in Asia yesterday, with the high-yielding duo Down Under making the most impressive comeback as a result. And before trimming some of
      Source: Reuters  -  507 words

  • COMPANY NEWS
    • 590 9  -  IT-RELATED FIRMS Global Testing Corp offers 26 m shares at indicative range of 30-35c each By VEN SREENIVASAN THE tech cycle may be down and the Singapore market may be soft, but that has not stopped Taiwanese semiconductor testing specialist Global Testing
      590 words
    • 477 9  -  Lim Kok Koon says he controls GTM now that Greatronic deal is off By MICHELLE QUAH LIM Kok Koon, the sacked CEO of Greatronic Ltd at the centre of a fraud dispute, yesterday gave assurance about the financial health of his Malaysian company Greatronic
      477 words
    • 373 9 Reuters SINGAPORE computer audio equipment maker Creative Technology is set to post a 61 per cent surge in its quarterly profit tomorrow, powered by robust sales of its digital mpsic players, analysts said. The growth momentum for Nas-daq-listed Creative is expected
      Reuters  -  373 words
    • 362 9  -  By LIZA LIN WING Tai has become the next big-name Singaporean developer to venture into the luxury residential market in Kuala Lumpur. With The Meritz, its maiden project in the Malaysian capital. Wing Tai joins the ranks of other local developers such
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  • Page 9 Advertisements
    • 77 9 WT I I >-. 1 I -<_*2- I *Aour, ffO/U- J&£a^a.2t2-cJtf<v_ I 11 I *VJI AifaCTwj^^B Euro Automobile Pte Ltd: 30 Teban Gardens Cresent Singapore *****7 Tel: 6566 2200 Fax: 6566 5252 Authorised Sales Agent: Hin Lung Credit Pte Ltd 3 Hoy Fatt Road Singapore *****4 Tel: 6472 2222 Fax:
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  • BLUE CHIPS
    • 883 10  -  While overall broker sentiment remains positive, uncertainties plague its aerospace sector, reports WONG WEI KONG WONG WEI KONG So far so good, but for Singapore Technologies Engineering (ST Engg), the future is still paved with caution. Earlier this month, the defence conglomerate posted
      FILE PHOTO  -  883 words
  • Page 10 Advertisements
    • 478 10 MANAGING OVERSEAS ■xfaT ASSIGNMENTS TAX, W" CPF AND HR PERSPECTIVES When you send your employees on an overseas assignment, have you considered the tax and CPF implications of such assignments? Should you tax equalize the employee or should you opt for tax protection? Which is better? What are the pitfalls?
      478 words

  • SINGAPORE NEWS
    • 551 11  -  Banking, finance and information technology enjoy best increase By NANDE KHIN SINGAPORE'S strong economic growth last year has led to increases in salary levels across the board, particularly in banking, finance and information technology. A survey by global staffing firm Kelly Services
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    • 217 11 RESIDENTS of New York City and Washington DC will soon have a taste of Singapore culture. Singapore Encore 2005, which comes just after Singapore held a successful cultural showcase in London, kicks off in Washington DC on April 27 at the Singapore embassy. The
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    • 491 11  -  By VEN SREENIVASAN EVEN as some market insiders continue to speculate about an impending consolidation in the regional budget airline industry, Singa-pore-based budget carriers continue to bring down fares and clinch new routes. Valuair announced it would start flights to its second
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    • 148 11 THE National Library Board (NLB) yesterday unveiled the "crown jewel" of its new National Library a seven-storey reference section. Come July, when the new Victoria Street library opens, Singaporeans will have access to the Lee Kong Chian Reference Library, housing 500,000 reference materials and
      148 words
    • 34 11 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ Lower Risk;^ Low to Medium Risk;& Medium to High Risk;** Higher Risk;open-ended;+Before subdivision of units;After subdivision of units;SP after stock split N.A-Non Dealing Day
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  • Page 11 Advertisements
    • 32 11 DIT Europazins Best Bond Europe Fund over 1 yr, 3yrs and 5yrs category* rated AA by Standard Poor's. AllictflZ (jfi) Source: The Edge-Lipper Singapore Funds Awards 2004 Global Investor > company regn.no *****7169Z
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  • FOCUS: SERVICES
    • 1124 12  -  Housing several specialists in different medical fields under one roof could be good for Singapore's drive to become a regional healthcare hub, reports CHEN HUIFEN. And the EDB is fostering the initiative by providing incentives CHEN HUIFEN W Healthcare, Raffles Medical Group and Excellence
      CHRIS LOH  -  1,124 words
  • Page 12 Advertisements
    • 226 12 Where to wine, dine and entertain... Seafood by the oca /vWV\ m i'INCA ♦t 8) ••A Sing* Inn Seafood Restaurant 920 Last Com Mm* Sinjuporr 44*75 fr-nrrv**, Tel: 6345 I 111 Fax: 6345 2138 Business Hours 5 00pm-11 00pm 60 Reasons To Feast Again Savour delectable dishes in our popular
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    • 80 12 r NEPTUNE COLLYER Q .COLORFUL CHINA Hsthnic COSTUMES PERANAKANtI FASHION SHOWa 18 -22 April 200$ $32+++ pet person (lunch) $15+++p^ person Showtimes: if I.oopm (lunch) ITm* rdL 9.15pm (dinner-only on 21 April)" IT Aria-carte menu is also available for lunch dinner. Reservations: 6224 3922 Hi I if, A division ot
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  • ECONOMY WATCH
    • 661 13 Central bank likely to raise rates or tighten lending curbs: analysts Bloomberg [BEIJING] China's economy, which accounted for a 10th of global growth last year, expanded more than expected in the first quarter as exports and investment surged. Gross domestic product rose 9.5
      Bloomberg  -  661 words
    • 313 13 Bloomberg [CANBERRA] An index of leading economic indicators for Australia declined to a four-year low in February, adding to signs that growth is slowing in the Asia-Pacific region's fifth-largest economy. The leading index, a gauge of growth for the next six months, fell
      Bloomberg  -  313 words
    • 507 13 LATEST US DATA Reuters [WASHINGTON] Another surge in energy prices helped push US underlying inflation up at the sharpest rate in 2 I A years during March, the Labor Department said yesterday in a report that rocked financial markets. The consumer price index
      Reuters  -  507 words
    • 509 13 Reuters [WASHINGTON] US President George W Bush said on Tuesday that China was considering taking an interim step toward easing its rigid currency regime and that Washington wants action as soon as possible. An interim move could help ease rising Sino-US
      Reuters  -  509 words
    • 160 13 Reuters [WASHINGTON] US Treasury Secretary John Snow on Tuesday said that trade tariffs on Chinese imports were not the way to persuade Beijing to loosen its tight currency peg 10 ine aoiiar. "I don't support the sort of legislation that is being talked about that
      Reuters; BLOOMBERG  -  160 words
  • Page 13 Advertisements
    • 1195 13 Call toll-free 1800 289 8822 Email: notices®sph.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF YTH ELECTRONICS PTE. LTD. (Co Registration No. *****2427 M) (Incorporated in Singapore) (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of YTH Electronics Pte. Ltd., duly held at
      1,195 words
    • 16 13 5 Raffles Avenue, Marina Square, Singapore *****7. Telephone:+6s 6338 0066 Facsimile:+6s 6339 9537 Email-. orsinOmohg.com www.mandarinoriental.com
      16 words

  • MALAYSIA/INDONESIA
    • 758 14  -  Research house lists 100 stocks it believes offer good value to investors By PAULINE NG in Kuala Lumpur MARKET players are hoping that Malaysian small cap stocks will get a shot in the arm following the publication of a book that seeks
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    • 4 14
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    • 173 14 Bloomberg [JAKARTA] Indonesian President Susilo Bambang Yudhoyono ordered the state oil company and Exxon Mobil Corp to settle a dispute that has stalled development of the nation's biggest untapped oil field for more than three years. Exxon and the state oil company, PT.
      Bloomberg  -  173 words
    • 367 14 AFP [JAKARTA] Indonesia is seeking an increase in Japanese investment in the manufacturing sector through an Economic Partnership Agreement (EPA) the two countries are currently discussing, to further bolster Indonesian trade with Japan, the Jakarta Post reported a minister as saying. Preparatory talks between
      AFP  -  367 words
    • 512 14 Economist sees sales by companies hitting RM20b Bloomberg [JAKARTA] Malaysian companies may double sales of Islamic bonds this year as demand grows for debt complying with Muslim religious principles, said Baljeet Grewal, chief economist and head of fixed income research at Aseambankers Malaysia
      Bloomberg  -  512 words
    • NOTE BOOK
      • 100 14 Reuters [TAIPEI] Taiwan will fine the chairman of United Microelectronics Corp (UMC) Robert Tsao, Ts3 million (*****, l 10) for late disclosure of his firm's partnership with China's HeJian Technology Co Ltd, regulators said yesterday. The penalties were slapped on UMC as the Taiwan government
        Reuters  -  100 words
      • 71 14 Bloomberg [JAKARTA] Indonesia raised about 222 billion rupiah (5538.2 million)' selling the government's remaining 5.2 per cent stake in PT Bank Niaga, the country's eighth-largest lender, at a premium to its market price. The shares were priced at 540 rupiah a share, about 6 per
        Bloomberg  -  71 words
      • 79 14 AFP [BANGALORE] India's largest biotechnology company, Biocon, said yesterday its full-year net profit jumped 42 per cent to 1.9 billion rupees (5571.6 million) on strong demand for its products. Total revenues of the Bangalore-based firm rose 35 per cent to 7.2 billion rupees for the
        AFP  -  79 words
      • 68 14 Reuters [SHANGHAI] Shenzhen Development Bank Co Ltd. said it had unearthed some suspect loans from 2003 and made a provision equivalent to half its earnings that year, in the latest scare to hit the scandal-prone Chinese bank sector. It will set aside 150 million yuan
        Reuters  -  68 words
      • 99 14 Bloomberg [HONG KONG] Italy's Assicurazioni Generali SpA, which sold a record US$2.4 billion group policy in China this year, overtook American International Group Inc (AIG) as the biggest foreign insurer in the world's fastest-growing major economy. Generali rose to the top spot this year, from fifth
        Bloomberg  -  99 words
      • 56 14 Bloomberg [NEW DELHI] Tata Consultancy Services Ltd, India's biggest software maker, plans to increase its workforce by more than a fifth in the year to March 31, 2006, as it wins new orders from customers and adds clients. It plans to add about 10,000 more people,
        Bloomberg  -  56 words

  • GREATER CHINA/INDIA
    • 809 15  -  Win-win situation has to be found despite growing bilateral trade By ASHOK KUMAR in Mumbai THE world seems to have taken more notice of Chinese Premier Wen Jiabao's recent successful visit to India than most Indians themselves.
      809 words
    • 296 15 Xinhua [MACAU] Casino mogul Stanley Ho signed his first gaming sub-concession contract on Tuesday, paving the way for the Las Vegas-based MGM Mirage to invest in casino projects in Macau. MGM Mirage paid US$2OO million with other affiliated terms to buy an 18-year sub-concession from
      Xinhua; PHOTOS: SCMP, APPLE DAILY  -  296 words
    • 779 15 Busy consumers buy into promise of hygiene and convenience Reuters [MUMBAI] Biscuits, snacks and ready-to-cook meals are flying off the shelves in India, as busy consumers buy into the promise of convenience and hygiene. Where once housewives toiled for hours in the kitchen making
      Reuters  -  779 words
    • 297 15 Bloomberg [DUBAI] Qatar and the Hinduja Group, owned by Britain's second-richest Asians, the Hinduja brothers, agreed to invest jointly in industrial, health and other projects in countries including India with an initial value of US$l billion. "Qatar is interested in diversifying its economy
      Bloomberg  -  297 words
    • 156 15 Bloomberg [BEUING] China's government said it will introduce fees to curb real-estate speculation and prevent property prices from rising too fast. The government wants to restrict construction of luxury housing, which has attracted wealthy speculators and driven up prices, Zheng Jingping, spokesman for
      Bloomberg  -  156 words
    • 432 15 Director blocking bids for securities firms, say sources Bloomberg [HONG KONG] China Development Financial Holding Corp, bidding to form Taiwan's biggest securities firm, may scrap its US$2.4 billion takeover of two domestic brokerages after a board member opposed the purchase, people involved in the
      Bloomberg  -  432 words
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  • ASIA-PACIFIC/WORLD
    • 991 16  -  ASIA INSIGHT Stakes are even higher in China's case now than they were in Japan's 20 years ago ANTHONY ROWLEY Tokyo Correspondent IT IS NOW almost exactly 20 years (if not quite to the day) that finance ministers from what was then the Group
      991 words
    • 406 16 Bloomberg [SYDNEY] Foster's Group Ltd may revise a failed As3.l billion (553.9 billion) bid for Southcorp Ltd, seeking to create the world's second-biggest winemaker. The companies are holding talks that "may or may not lead to a revised" offer, Melbourne-based Foster's, Australia's biggest brewer
      Bloomberg  -  406 words
    • 489 16 Bloomberg [SYDNEY] Telstra Corp, which is planning the world's second-biggest share sale, had a smaller-than-expected gain in third-quarter revenue as demand fell for its fixedline services. Sales for businesses it owned for more than a year rose 3.3 per cent to A
      Bloomberg; REUTERS  -  489 words
    • 555 16 Plaintiffs must indicate connection between fraud and share price drops Bloomberg [WASHINGTON] The US Supreme Court made it harder for investors to win damages over deceptive company statements, saying lawsuits must allege a direct connection between the fraud and a subsequent decline in
      Bloomberg  -  555 words
    • 439 16 Ito-Yokado merges with units Seven-Eleven, Denny's Reuters [TOKYO] Japanese retailers Seven-Eleven Japan Co and Ito-Yokado Co said yesterday that they would form a holding company in a US$l3 billion deal aimed at blocking any takeover attempts from unwelcome suitors. The move follows
      Reuters  -  439 words

  • WORLD
    • 871 17 But analysts say overall slowdown points to weaker revenues ahead Bloomberg, Reuters [SAN FRANCISCO] A round of more positive earnings news from leading technology names, led by bellwether Intel Corp, put investors in a giddy mood this week, but the relief may
      Bloomberg,; Reuters  -  871 words
    • 487 17  -  By RAVI KANTH in Geneva EFFORTS to liberalise global trade through so-called Doha Development Agenda negotiations suffered a setback on Tuesday after the European Union walked away from an "agreement" it reportedly reached with key members of the World Trade Organization
      487 words
    • 466 17 NYT [NEW YORK] KPMG. one of the nation's top accounting firms, was censured on Tuesday by the Securities and Exchange Commission (SEC). The SEC accused the firm of helping executives at Xerox Corp to manipulate and distort the company's financial statements from 1997
      NYT  -  466 words
    • Article, Illustration
      23 17 here on April 18.2005. Over2oo people have died of the disease, with children under the age of five particularly vulnerable. REUTERS
      REUTERS  -  23 words
    • 345 17 It accounted for 41% of global total [LONDON] The volume of equity issued in Europe this year has reached its highest level since 2000, outpacing the US for the first time in five years, according to a report in the Financial Times. Europe accounted for
      345 words
    • 303 17 Reuters [NEW YORK] Citigroup Inc, the world's largest financial services company, can resume looking at acquisitions towards the end of 2005, chief executive Charles Prince told the annual meeting of the company's stockholders on Tuesday. The US Federal Reserve told Citigroup a month ago to
      Reuters  -  303 words
    • WORLD WATCH
      • 86 17 Bloomberg [NEW YORK] Harrah's Entertainment, which is buying Caesars Entertainment to become the largest US casino company, said first-quarter profit rose, helped by an acquisition and increased travel to Las Vegas. The net income rose to US$lO3.B million, or 90 cents a share,
        Bloomberg  -  86 words
      • 91 17 Bangkok Bank's Q1 net profit climbs 81 Reuters B [BANGKOK] Bangkok Bank PCL, Thailand's largest bank by assets, reported an 81 per cent rise in first-quarter net profit yesterday. It attributed the results to higher interest margins after debt redemption and stronger loan growth. The bank, which has US$36 billion
        Reuters  -  91 words
      • 70 17 Bloomberg [NEW YORK] Sprint Corp, the third-biggest US mobile-phone operator, said first-quarter profit more than doubled as wireless sales gained 13 per cent and customer turnover slowed. Net income rose to US$472 million, or 31 cents a share, from US$225 million, or 16 cents,
        Bloomberg  -  70 words
      • 39 17 Bloomberg [AMSTERDAM] Royal Philips Electronics NV, Europe's largest maker of televisions and coffee machines, agreed to sell its asset management and pension management divisions to Merrill Lynch Co and Hewitt Associates Inc Bloomberg
        Bloomberg  -  39 words
      • 75 17 Reuters [LONDON] UK life insurer Prudential reported an 11 per cent rise in first-quarter sales yesterday, in line with forecasts, and reiterated a positive outlook for its units in Asia, the US and Britain. Kicking off the assurers' sales reporting season, Britain's second-largest
        Reuters  -  75 words
      • 65 17 Bloomberg [TOKYO] Fujitsu Ltd, a Japanese supplier of computer servers, had a 36 per cent decline in full-year profit after it took a charge related to taxes and reorganisation. Net income was about 32 billion yen (***** million) in the year ended March 31,
        Bloomberg  -  65 words
      • 41 17 Reuters [NEW YORK] JPMorgan Chase Co, one of the largest US banks, yesterday said its quarterly earnings rose 17 per cent, helped by its purchase of Bank One and a rebound in trading revenues. Reuters
        Reuters  -  41 words

  • AVIATION
    • 906 18 Move could herald start of consolidation for US airlines AP, Reuters [MONTGOMERY, Alabama] US Airways Group Inc and America West are in advanced discussions to merge, creating the nation's sixth-largest airline that would better compete with discount rivals and complement each other geographically,
      AP,; Reuters; AP FILE PHOTO  -  906 words
    • 257 18 AP [KUALA LUMPUR] A Malaysian man who used forged and stolen credit cards to buy tickets on nofrills airline Air Asia was arrested minutes after he buckled up for his 69th illegal flight, a newspaper reported yesterday. The New Straits Times reported
      AP  -  257 words
    • 343 18 AFP [BEIJING] A top aviation official in China has criticised the country's airports for having poor safety, which he blamed for 80 per cent of the nation's air accidents, state media said yesterday. Qin Zhanggao, vice-di-rector of the General Administration of Civil Aviation
      AFP  -  343 words
    • LOG BOOK
      • 130 18 AFP [KUALA LUMPUR] Malaysia Airlines will increase a fuel surcharge on international flights and impose a levy on domestic flights for the first time from May 1 due to higher oil prices, a minister said yesterday. The surcharge for long-haul international flights will
        AFP  -  130 words
      • 113 18 AP [BANGKOK] Investigators are looking into how two planes clipped wings on the tarmac at Bangkok's international airport, cracking a wing on one of the planes, Thai authorities said yesterday. The accident occurred late on Tuesday when a Singapore Airlines plane was taxiing to a gate
        AP  -  113 words
      • 80 18 Reuters [LONDON] Long queues for some passengers arriving at London's Heathrow Airport will vanish in the blink of an eye next week under a new security system that replaces face-to-face passport control interviews with speedy iris scans. Immigration officials said on Tuesday that
        Reuters  -  80 words
    • 475 18 Reuters [SHANGHAI] DHL, an arm of Deutsche Post AG, forecast yesterday that revenue growth in China would top 50 per cent this year and the country was set to become its largest Asian market by year-end or early 2006. DHL, which jostles
      Reuters  -  475 words
    • 385 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 EVA
      385 words

  • SHIPPING
    • 479 19  -  ITF also places flags of three new registries under scrutiny By DONALD URQUHART [SINGAPORE] A powerful global transport workers' union has managed to raise the benchmark pay for ocean-going seamen by 10 per cent and placed the flags of three new
      FILE PHOTO  -  479 words
    • 535 19  -  Gulf state's plan for futures exchange not as serious a concern as China By RONNIE LIM [SINGAPORE] Dubai will complement, and perhaps challenge, but not threaten Singapore's position as the premier Asian oil trading hub, say oil traders. Those opinions
      535 words
    • 588 19 Bloomberg [HONG KONG] China's top shipping firm, China Ocean Shipping (Group) Co (Cosco), hopes to raise more than US$l.5 billion by floating its integrated container shipping arm in Hong Kong in June or early July, sources said. Funds from the
      Bloomberg  -  588 words
    • 205 19 Bloomberg [HONG KONG] China Shipping Development Co, the nation's biggest oil carrier, said first-quarter profit doubled as shipments of oil and coal increased. Profit rose to 829.6 million yuan (*****.24 million), or 0.2494 yuan a share, from 411.7 million yuan a year earlier, China shipping
      Bloomberg  -  205 words
    • 445 19 Beuters [MELBOURNE] The Queensland Competition Authority has ordered the operator of a coal port to cut its terminal charges by 17 per cent in a move that could aid plans to expand the congested port to meet booming Chinese
      Beuters; BLOOMBERG  -  445 words
    • 320 19 Bloomberg [SINGAPORE] Great Eastern Shipping Co, India's second-biggest shipping carrier, said it will spend US$3OO million to buy 13 new ships in the next two years. Great Eastern will buy six tankers and seven offshore vessels, including a suezmax crude carrier, three platform-supply
      Bloomberg  -  320 words
    • 110 19 Bloomberg [TOKYO] Japan's shipbuilders won export orders for 33 vessels totalling 1.4 million gross tonnes last month, more than double February's, the Japan Ship Exporters' Association said. The ships included 20 bulk carriers that haul iron ore, coal and other dry bulk
      Bloomberg  -  110 words
    • 309 19 S6X '000 Apr 20 St W- Vol_ CH Offshore .0.34 -0.01 468 ChoanHup .0.72 0.01 477 Cosco Corporation 1.71 -0.02 3876 CWT Distribution 062 -0.01 10 Ezra Hldgs 1.22 -0.03 500 Freight Links 0.08 unch 1036 Grand Banks Yacht 0.99 -0.02 52 Java Holdings 1.06 -0.01 41 K1
      309 words

  • EDITORIAL & OPINION
    • 525 20 EDITORIAL AFTER a pretty lean spell for far too long, the news from Singapore's jobs front has, surely and steadily, gotten better and brighter in the last couple of quarters. Companies have begun hiring again as job vacancies reappeared; salaries and bonuses actual and projected picked
      525 words
    • 1235 20  -  Singapore should tap indigenous creativity to develop its own brand of postmodern culture by WILLIAM SW LIM SINGAPORE had a smooth political transition of power from the British to the PAP government in 1959. Painful confrontation was avoided. Singapore had inherited the colonial idea of modernity without serious
      flUPMOtO  -  1,235 words
    • 779 20  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group THE Brookings Institution, one of Washington's prestigious think-tanks, issued a study the other day on solving America's budget problems a study that paradoxically helps explain why we don't fix them. The authors, all prominent
      The Washington Post Writers Group  -  779 words
    • 3360 21 The following is the speech by Senior Minister Goh Chok Tong in Parliament yesterday, during the debate on the proposal to develop IRs IRISH to state my position on gambling and the casino issue. I do not approve of gambling but I am not anti-gambling.
      AFP; FILE PHOTO  -  3,360 words
  • Page 20 Miscellaneous
    • 188 20 CRYPTIC CROSSWORD DOWN 2 Budget item is finished mind < I °> h hh YESTERDAYS SOLUTION (8) 17 Missile thrown by skinhead at Across: 1 Dictator, 5 Sprain, 10 3 Einstein's theory of where the current dsnce (8) Fourth dimension, 11 Achieve, 12 over 80's go (8) 18 Matters about
      188 words


  • 2641 22 SGX XTRANET 52-Wk Td Last Vol Day Lact Quota GrDiv Mv GrVM Nat MCap High Low Coda Company Sato rOOO) H» Low luyr Sdter Cw S P/E Smi 6065 Diamonds US2060 2120 6095 IS DJ US Tech US3740 6097 IS MSCI Spore USS55 6101 IS S4PSOO US8270 6170
    2,641 words
  • Page 22 Advertisements
    • 59 22 JtSSfc AJDEMARS PIGUET 1 /Le maitrc de I'horlogerie depuis 1875 Bmm K, i u-i Mm mr J m Sole Distributor Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. THF HOI JR Cil ASS y 541 Orchard Road #17-00 Liat Towers Singapore *****1. Tel: 6238 6678 Fax: 6238 6676. I lit. riVy*-ll\.
      59 words

  • 3492 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In tool out in SS in Mi dy yr Sdj yr <*y %yr Apt IS inart Chang* Change Change Chang* Chaoga Change tt-jki into rnwrw.ar) 8321 06 J1 05 -26 0.8 31 EA»i PreJirrwy ITii 07 04 0.9 1.4 1.1 26 Europe Plilrrrtfwy
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  • Page 24 Advertisements
    • 1925 24 IMPORT NORTH AMERICA AUSTRALIA/NEW ZEALAND I ISUPER SHUTTLE EXPRESS (88X) I [AUSTRALIA ASIA EXPRESS WAX) 1 VESSEL VOY LGB SIN PKG "'i OOCL NINGBO Rl_ _Wl_ _K6_ OOCL HAMBURG 10W14 13/04 01/05 03/05 API JAKARTA 16N 09/04 11/04 13/04 15/04 19/04 14/04 24/04 OOCL DAN JIN 01W15 20/04 08/05 10/05
      1,925 words
    • 812 24 |»JTI«ASIA ROUP MKVKI vßsa/vor umm hbchiw rro urn to m jkt STRAITS VENTURE M/OS IS 3J 11/04' 13/04 STRAITS VBITURE M/OS IS 11 22/04 01/05 03/05 OS/OS I STRAITS VENTURE W 30 4.2S 23/04 25/04 27/04 laustrauan roko sisvici i VBSa/VOT I MMfffD I HBGWnml IP [Ml IJCT m STD
      812 words

  • Page 25 Advertisements
    • 1065 25 Hfil Pnnihln.i IWWL vOfiiDiVWS a range of shipoing modes to ensure timely, reliable services mafor ports in Norm America, Europe, Jopon, Alt icq Oceonio# Also BTftyt hrtra-Asia Cvjom Ik BUSAN KWAHGYANG SHANGHAI YANTIAN XIAMBI QMGDAO IEUWAM/JAKARTA SUKAIAYA KAOHSIUNG lAWGKOK LA£M CHAIAH6 tfoOWWIH FASH OUPAMC PBUNO POET HEAH6 For Schedules, BL
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    • 1143 25 VESSE VOY SHI PKG 1 fiOl DFN PiATF IsOtN I 26/4 I 77/4 I 79/4 I-1- 1 I WIO6E 07tA ~WT 13/4 GOLDEN TRADE SO6N 3/5 4/5 6/5 M{|i| jjfg 3 4 IKUO LUNG IOQ9M I 1(1/5 I 11/5 I 13/5 I-I 1 PtKTH nm 079 A _J/L. 7/5 Catnj
      1,143 words
    • 780 25 m scssssk WEEKLY EXPRESS SAILING SCHEDULE I ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICQ POINTSI VESSEL VOT SIN I P.KUN6I COLOMBOI N. SHIVA I COLOMBO I I.— m. j USO ACOPTMG PQ 10 COCHN. TUTKMUN (VU COLOMBO) AND KANOU t GO* I (VU N SHIVA) CONNKTBM MOTHBt VSIS TO
      780 words

  • Page 26 Advertisements
    • 778 26 ImAI WALLENIUS WILHELMSEN website: http://www.2wglobol.com I VESSEL ~VOY RAMP HEIGHT SIN IK MAO ~HOU# MIA SAV I*l Off NYC WON ~MOS~ TAMPERE ALSI2 4001 MS 6.3 M 02/05 09/06 13/0* 16/06 14/06 TAMPA ATSII 4201 MS 6.4 M OS/OS 30/05 09/06 13/06 17/06 IS/06 19/06 TARAGO AFSI2 3201 MS 6.4
      778 words
    • 1386 26 Vtsstl VOY SjN P6U JBSSB YQI sm MT PAC BAMDA 1449N 16/04 17/04 fftttMl 4162 17/04 20/04 -tStst 5 irS -usjmm sm lim 21m Q"3*l olw 17/04 11/04 Mftui 1161 WM »/(U PACBANOA 1450* 17/04 11/04 PACMABASSA«I 631 i PACBANOA 14S1N 19/04 10/04 PACBANOA 1452H 20/04 21/04 www D» PAC
      1,386 words
    • 608 26 BSA x MYANMA uH FIVE STAR UNE (MywMnor Natiwral Um) lddh| for Y«fM msa vor sm m pen pgu PAGAN 341W SIS HPA-AN 337W SU> IN MALAYSIA: OOUSTEAD SHIPPING AGENCIES KUL/PKL 03-*****3 M PIN: 04-*****15 j^tasssssm JHIIM ACCEPTIiB COBVEBTIOMAL C6O VESSEL VOT HKG SM PGII PU KUC MARINE EMRIiM 1J
      608 words


  • BizIT
    • 291 28  -  By ROLAND LIM SINGAPORE businesses are in a great position to harness the Internet as a marketing tool since the IT infrastructure here is already in place and the right tools are available, say Internet marketing experts Armand Morin and Alex Mandossian. Mr Morin
      291 words
    • 355 28  -  By RAJU CHELLAM APART from niche technology players that cater specifically to the global casino industry, conventional IT giants like IBM, Hewlett-Packard, Sun Microsystems, Oracle, and Microsoft also have solutions tailored for the gaming industry. Casino-specific tech solutions are offered by USbased companies
      355 words
    • 584 28  -  BT exclusive Sheer volume more than makes up for lower margins, with 110,000 more visitors and $5 million more in sales compared with last year's show, reports RAJU CHELLAM RAJU CHELLAM WHAT a difference a single exhibition makes. In Singapore's case,
      FILE PHOTO  -  584 words
    • 517 28 Reuters [AMSTERDAM] The United States and Switzerland boosted their rankings in an annual survey of the world's Web-savviest nations by aggressively rolling out broadband and wireless Internet connections. The US, which had slipped to sixth place in late 2003, recovered to rank No.
      Reuters  -  517 words
    • 245 28 Bloomberg [CALIFORNIA] Hewlett-Packard Co, the world's No. 2 personal-computer maker, will work with Viacom Inc's Infinity Broadcasting Corp on a service that lets FM radio stations send music and graphics to mobile-phone users. The Visual Radio lets users see the title and artist
      Bloomberg  -  245 words
    • 183 28 AFP [MANILA] Trend Micro, a leader in tackling computer viruses, will boost its hiring at its Philippine office by another 250 people to bring the total to 1,000 by this year, a company official said yesterday. Trend Micro Asia South regional marketing
      AFP  -  183 words

  • Page 29 Advertisements
    • 400 29 .fa S, t MMrafa.--.i3ig3r-,''<£ Samsung Preferred Partners Outlets: CENTRAL Trends Trendies (Samsung Shop) Plaza Singapura #82-28 Tel: 6238 7911 All Deal Burlington Square #01-02 Tel: 6334 5133 Citilink United Square #B1 -38 Tel: 6253 0618 Handphone Inspiration Cineleisure #81-07 Tel: 6733 4639 Handphone Shop Le Meridien #01-06 Tel: *****195 Handphone
      400 words

  • PROPERTY
    • 427 30  -  But net allocation of ready-built facilities slips into negative territory By ALEXANDRA HO IT was a mixed picture in the industrial land sector, but one bright spot was the continued strong performance in the net allocation of prepared industrial land in the first
      427 words
    • 807 30  -  HK's laggards will see rapid rental growth, writes SIMON SMITH SIMON SMITH FOR real estate investors, 2004 was a banner year for Hong Kong and China in the property sector. The economic lynchpin of the recovery was undoubtedly China, where World Trade Organisation regulations lured increasing
      Source: Savils Research & Consultancy  -  807 words
    • 823 31  -  Clearer rules will speed up en bloc sales of old commercial buildings, reports KALPANA RASHIWALA KALPANA RASHIWALA THE government can help owners of ageing commercial properties in Singapore unlock their value by clarifying collective sales rules, says Jones Lang LaSalle (JLL) in a recent report. The
      FILE PHOTO  -  823 words
    • 389 31  -  By KALPANA RASHIWALA SINGAPORE Tourism Board (STB), which is anticipated to release two short-term-use sites in the Orchard Road belt this year, says it expects the new developments to be up within the next one to two years. This is
      389 words
  • Page 30 Advertisements
    • 312 30 PATERSON ROAD DEVELOPMENT SITE FOR SALE BY TENDER "HI I I .foco* Prime location off Paterson 10l hi Road if •Use" Freehold r|«l —"v** Approxlmcjtely 100,000 sq ft —I HEX* Plot ratio 2.1 7 Height control up to hI i» 24 st reys 55S /t ///y Excellent unobstructed T i
      312 words

  • Page 31 Advertisements
    • 485 31 Advertising Feature :X gr aded by the w staff^ Confidence booster MoP's hands-on projects give candidates the confidence to research and develop proposals and produce written reports Tutorials are held at the TMC Academy. WHO SHOULD ATTEND ■■I 4 i it mm Managers in portfolio or asset management; I I
      485 words

  • PROPERTY WATCH
    • 1039 32  -  From peranakan shophouses to boutique developments and modern condos, the Katong area retains its attraction, says ARTHUR SIM ARTHUR SIM THE charm of the East Coast has been its main draw since the days of large seaside villas in the early half of the last century.
      Source: Jones Leng LaSalle Research  -  1,039 words
    • 1403 32 Brought to you by HSBC PROJECT NAME/ PROP CONTRACT TENURE BUKHNIAND PRICE PSf STREET NAME TYPE DATE AREA* (SOFT) (SSOOO) (Si) District 01 NOW-LANDED People's farkCph Apt 1203/2005 99 463 177 382 The Sal At Manna Bay Apt *****005 99
      1,403 words
  • Page 32 Advertisements
    • 31 32 usßcm The world's local bank This is a fortnightly series brought to you by HSBC. For a free property valuation or a quick assessment of your loan requirement, please visit www.hsbc.com.sg
      31 words
    • 111 32 I 1 Got the right home? Now get the right home loan. 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 HSBC home loan:
      111 words