The Business Times, 3 June 2005
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2005-06-03
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The Business Times
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Title Section14 2005-06-03 1 THE BUSINESS TIMES SINGAPOREBS cents online at http://business-times.asial.com.sq MICA (P) 069/03/2005 Friday, June 3,200514 words
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910 2005-06-03 1 MICHELLE QUAH - Even companies in S'pore that provide compliance services are feeling the burden By MICHELLE QUAH [SINGAPORE] As debate rages on whether more rules and regulations are needed to improve corporate governance here, a new study has yielded an ironic finding. The growing need for910 words
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Article, Illustration783 2005-06-03 1 KALPANA RASHIWALA - By KALPANA RASHIWALA [SINGAPORE] Foreigners accelerated their home buying spree here in the first quarter. They lodged 17.2 per cent more caveats for private homes in Ql than they did in the previous quarter a reversal after two consecutive quarters of declines. UnitedSource: URA Reals, DTZ Research - 783 words
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Page 1 Advertisements
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Advertisement7 2005-06-03 1 ISLAMIC BANKING RHB keen on S'pore PG27 words
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Advertisement38 2005-06-03 1 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access oOr online hews anytime. Call 6388-3838t0 subscribe and activate your online account *****11 l 8 "*****r*****4 Markets Digest on Pg 338 words
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Advertisement48 2005-06-03 1 EU REFERENDUT^g^k*. Q9P I OrriCIAL iiVF.KF.CfrR O) 5 E o o •M x ~c^ 'A M k to 4 4*" V I WATER IS MICHAEL PHELPS'NATURAL ELEMENT. MY CHOICE. PLANET OCEAN IS HIS WATCH. V v C k Hfci m*- I Vffl'ffijh' OMEGA \,fr k J r y48 words
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Advertisement8 2005-06-03 1 OIL MARKET Crude prices climb 5% PG 148 words
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TOP STORIES
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Article, Illustration599 2005-06-03 2 PAULINE NG - Group eyeing such a licence, but MAS says no need for one as RHB is a full bank By PAULINE NG in Kuala Lumpur MAIjYYSIA'S RHB group could soon be offering Islamic banking products and services in Singapore sooner than even the bank599 words
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Article633 2005-06-03 2 China detains 2 more people, issues warning CHINA has detained two more people on suspicion of leaking state secrets, and Chinese officials have issued a warning that it will prosecute overseas journalists who violate the country's laws and regulations while reporting. Over the last two months, sociologist Lu633 words
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Article, Illustration224 2005-06-03 2 The 25-member European Union's first Constitution was signed by EU leaders last October in Rome, bestowing on it trappings of statehood such as a flag, a president and an anthem. It lays the foundation for a political entity of 450 million people accounting for one quarter ofSource: Democracy International,Reuters - 224 words
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653 2005-06-03 2 EU leaders struggle to salvage what can be saved [BRUSSELS] The European Union faces a deepening crisis of confidence after the Dutch joined the French in rejecting a new constitution a move that could stall the bloc's expansion and disrupt653 words
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748 2005-06-03 3 DANIEL BUENAS - DETENTION OF ST JOURNALIST Overseas journalists who violate laws while reporting face prosecution By DANIEL BUENAS [SINGAPORE] China has detained two more people on suspicion of leaking state secrets, and Chinese officials have issued a warning that it will prosecute overseas journalists who748 words
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Article141 2005-06-03 3 sn 2,***** (+14.62) ST INDEX FUTURES 2.180.00 (+10.00) simsq 258.74 (+1.71) SIMSa FUTURES 258.20 (+1.50) MARKETS Thursday Change KLSECOMP 862.40 +0.44 NIKKEI 225 11,280.05 -49.62 HANG SENG 13,814.58 -58.49 SET INDEX 672.81 +5.29 JAKARTA COMP 1,091.465 +8.524 MANILA COMP 2.010.56 +46.25 SEOUL COMP 970.88 +1.37 SHENZHEN B 213.63141 words
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Page 2 Advertisements
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Advertisement32 2005-06-03 2 Come See The Big Picture at suntec, 4th sth June Weekend promotion just fot yOj||jj Bispfii <.' 1. ■< t u iM:* w ilKvn TiTTi -I U UiFM -I <Srk 1 A**Lvan— Private Theater32 words
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Advertisement70 2005-06-03 3 I United Technologies I llw of the US is one of the world's biggest technology companies. Its CEO knows what every Singapore J|fC shareholder knows I instinctively: investors hate bad news. In the Raffles Conversation tomorrow* he tells how he keeps his shareholders happy. -5 ;Ys^^b MKj --M 4 Tan70 words
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Advertisement15 2005-06-03 3 hn^^H "V ;''-fzJ Sold exclusively in Louis Vuitton stores. Tel. 6734 7760 www.louisvuitton.com LOUIS VUITTON15 words
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COMPANY NEWS
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507 2005-06-03 4 ANGELA TAN - Analysts say they're better off growing at home instead of following SingTel By ANGELA TAN IT MAY be too late for StarHub and Mobile One to emulate rival Singapore Telecommunications' overseas forays to fuel growth, given the higher acquisition costs and competitive bids507 words
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Article, Illustration432 2005-06-03 4 ANGELA TAN - By ANGELA TAN SINGAPORE Telecommunications has bought a 45 per cent stake in Pacific Bangladesh Telecom Ltd (PBTL) for US$llB million, with an option to raise the interest to 60 per cent for an additional US$65 million. Explaining the move, SingTel's president and chief432 words
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561 2005-06-03 4 MICHELLE QUAH - HOCK LOCK SIEW But it does suggest that govts should gun for just guilty individuals By MICHELLE QUAH WHAT a shocker. After years of believing that Arthur Andersen was guilty of obstructing justice in the Enron debacle, the entire saga has been flipped561 words
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Article, Illustration638 2005-06-03 6 Beijing could allow rivals into US$1b jet fuel import business, they say Reuters CHINA Aviation Oil (Singapore) may survive its June 8 bailout vote, but analysts say the company's hold on the US$l billion jet fuel import market could slip ifReuters; BLOOMBERG - 638 words
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COMPANY BRIEFS
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66 2005-06-03 6 INNOVALUES Precision Ltd has appointed prominent businessman Koh Boon Hwee as adviser to its board of directors yesterday. "Mr Koh will guide and support the board and the company with-counsel and advice on corporate and business strategies, key management and investment matters as well66 words
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Article102 2005-06-03 6 Bloomberg KEPPEL Corp, Singapore's biggest offshore marine engineering company, said Keppel Shipyard won a US$l74 million order for the hull conversion of a floating product unit from Charter Development Limited Liability Co. The order includes marine conversion as well as the fabrication and integration of aBloomberg - 102 words
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106 2005-06-03 6 CSE Global announced yesterday that its Singapore-based subsidiary, Transtel Engineering, was recently awarded a contract worth about $8 million by the JGC/KBR consortium, a Japanese-American partnership, to deploy a telecommunications network for the Tangguh LNG gas plant in Irian Jaya, Indonesia. Transtel will implement106 words
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Article266 2005-06-03 6 ALEXANDRA HO - By ALEXANDRA HO THREE adjoining freehold sites near Tiong Bahru MRT station that were put up for collective sale in January have been sold for $60 million. Developers United Overseas Land and United Industrial Corp, both part of United Overseas Bank chairman Wee Cho266 words
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Article34 2005-06-03 6 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ Lower Risk;^ Low to Medium Risk;& Medium to High Risk;** Higher Risk;open-ended;+Before subdivision of units;After subdivision of units;SP after stock split N.A-Non Dealing Day34 words
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Article, Illustration375 2005-06-03 7 RONNIE LIM - It'll drill for gas in Gulf of Thailand, and share the exploration risks By RONNIE LIM LISTED exploration and production (E&P) company Pearl Energy has signed up two "very experienced" E&P partners Australia's Horizon Oil and US-incor-porated Tana International Exploration to help it drill forARTHUR LEE - 375 words
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201 2005-06-03 7 Bloomberg OVERSEA-CHINESE Banking Corp, the smallest of Singapore's three lenders, completed the purchase of an additional 19.61 per cent stake in Indonesia's PT Bank NISP for 729.7 billion rupiah (Ssl2B million). The purchase lifted OCBC's stake in NISP to 70.62 per cent. TheBloomberg - 201 words
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Advertisement42 2005-06-03 4 Trust in our Swiss banking heritage for your long-term security. 1 J KJ J ||jSs|H ■■HHBrity, it can be difficult to of Credit Suisse to security and discretion What you get are services 'Jj| .;>-i:» sI! 111J k i 6000) or at42 words
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Advertisement51 2005-06-03 4 ■H *-+-> <n J U r> r bdoP HNDIHEONES -pyfy THAT FIT! uQjp c i < >J i Recruit the right people through The Straits Times 3 f f Recruit Call 1800 289 8822 or email j \y recruit#sph.com.sg to advertise. C i j nrsim V ~3— j UojJ *****051 words
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Advertisement243 2005-06-03 5 Iff XP R® 3fiS- "iif i iff |gTgt^B3ESS3|M^: iSm *m -S KlsL^^^S SIA a g- ■jJMg iL i^PF^fIIHHBM^SBiH^H^ Jk 4>* S&K7' "V '^S-^tf' 1 ■'■£;>" J«..v^c,„ :v.-»^ i fe,: "V '>' >-~r--. i^fiW^-^^^o^ M l t Si Easy, re-energizing escapes for the city dweller. Your perfect respite from a busy243 words
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Advertisement15 2005-06-03 6 PIMCO Emerging Markets Bond Fund rated 5-star by Mercer Investment Consulting klvesfors^ company it'gn.no *****7109/15 words
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Page 7 Advertisements
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Advertisement70 2005-06-03 7 Mondial Rare Jewels Natural pink diamond 1.51 carats, Natural blue diamond 3.97 carats, clarity of WSI. clarity of VS2, Certified by GIA. Certified by GIA. Celebrate your glorious moments with the world's finest diamonds, available now at Mondial. V MONDIAL House of Exceptional Diamonds and Rare Jewels Mondial Rare Jewels70 words
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Advertisement1742 2005-06-03 7 A PINE AGRITECH LIMITED (Incorporated in Bermuda) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Pine Agritech Limited (the "Company") will be held at Ocean 5 Level 2 Pan Pacific Singapore 7 Raffles Boulevard Marina Square Singapore *****5 on Tuesday, 28 June 20051,742 words
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SINGAPORE MARKETS
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Article, Illustration556 2005-06-03 8 R SIVANITHY - STOCKS Their recovery comes as the ST Index hits a five-year high on US interest-rate hopes R SIVANITHY Senior Correspondent THANKS to a renewed push on the Jardine group, Singapore Telecom and DBS, the Straits Times Index soared to a new fiveyear high yesterday, but the mainSource: Bloomberg - 556 words
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Article, Illustration757 2005-06-03 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jun 2 and earlier) Subsantial No of Price SHAREHOLDING Shareholder BuyI Share* Per Before After Stock Trans Date Director Sell [000 Shr ('000) C000) Datacraft Asia 2-Jun-05 Yung-Cheng Yung Sell 10 1.12 40 0.01 30 0.01 Raffles Edu 2-Jun-05 Chung Gim757 words
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208 2005-06-03 8 CHUANG PECK MING - Compiled by CHUANG PECK MING QHEW Hua Seng, Raffles Education Corporation's chairman and CEO, yesterday sold 25 million of his shares in the company for about $17.8 million in a series of willing* buyer, willing seller transactions. The sales at 71 cents a share208 words
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Article, Illustration860 2005-06-03 8 R SIVANITHY - Compiled by R SIVANITHY People's Feed Hdgs Ltd June 2 dose: 865 cents OCBC INVESTMENT RESEARCH, June 2 THE share price of People's Food Holdings (PFH) plunged sharply by 11.5 cents to Wednesday's closing priceof 82cents. Rumours on viral outbreaks in China, which resurface every now and then, andSource: Bloomberg - 860 words
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Article, Illustration501 2005-06-03 8 CURRENCIES Reuters [SINGAPORE] Asian currencies pared early losses yesterday as the euro and yen pulled back from multi-month lows against the dollar, but were seen vulnerable as markets scale back their bets for a Chinese yuan revaluation. The euro rallied from an eightmonth low. hitReuters; AFP - 501 words
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SINGAPORE NEWS
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483 2005-06-03 9 ALEXANDRA HO - JTC getting ideas before awarding tender to developers By ALEXANDRA HO A MULTI-STOREY, multitenanted seafood complex will soon rise near Jurong Fishing Port and wholesale fish market. The readybuilt facilities will house the entire value chain of seafood processing operations from import/export, to483 words
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Article, Illustration283 2005-06-03 9 KALPANA RASHIWALA - By KALPANA RASHIWALA THOSE shopping for their dream home can look forward to at least two new major projects this weekend. Centrepoint Properties previews today Tangerine Grove at Paya Lebar Crescent, and MCL Land is releasing The Calrose in Yio Chu Kang. Both condominium283 words
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438 2005-06-03 9 JEAN CHUA - By JEAN CHUA REMAKING Singapore isn't just about improving infrastructure and pumping millions of dollars into getting technical know-how. It's about creating information and knowledge that can be disseminated to the rest of the world, says a team of NTU professors who are working438 words
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220 2005-06-03 9 JEAN CHUA - By JEAN CHUA TO help raise the credit standing of companies in Singapore especially the small and medium ones the Singapore Chinese Chamber of Commerce and Industry and DP Information Group have come up with a credit rating system based on the Moody's K220 words
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236 2005-06-03 10 MORE enterprises from the Chinese province of Sichuan are expected to come to Singapore with the opening of the Chengdu Centre here scheduled for next year. This came to light as Singapore and Sichuan officials of the Singa-pore-Sichuan Trade and Investment Committee (SSTIC)236 words
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415 2005-06-03 10 CHEN HUIFEN - Group raising US$40m to invest in China's biomed sciences industry Reports by CHEN HUIFEN SINGAPORE-BASED venture capital firm Bio Veda Capital yesterday said it is teaming up with Temasek Holdings and a few other institutional investors to raise up to US$4O million415 words
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Article348 2005-06-03 10 THE Economic Development Board (EDB) will be leading more than 30 representatives from 12 organisations to an international biotechnology conference in the US later this month, with the aim of strengthening awareness about Singapore's biomedical sciences initiatives. The conference, called 810 2005, is the world's348 words
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Page 9 Advertisements
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Advertisement19 2005-06-03 9 Booster Capital Guaranteed Fund SGDRID 19/05/05 9,62 SGD Double Joy Capital Guaranteed Fund USD R1 D 23/05/05 10,00 USD19 words
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Advertisement485 2005-06-03 9 Singapore3ftSfestival O Founder Lucy Bailey is renowned in Britain for her outstanding 11 productions in theatre, music theatre, and opera. The musicians i are stunning virtuosic performers, each bringing an energy, humour and irresistible charm to works ranging from Malagasy 1 dance rhythms to Arabic modes of improvisation, to contemporary485 words
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Advertisement1756 2005-06-03 10 Head Office Friedrichswall 10, D-***** Hannover, Germany Mfjg fj IH Tel: (0511) 361 0 Fax: (0511) 361 2502 Singapore Branch 6 Shenton Way #16-08 DBS Building Tower 2, Singapore *****9 Norddeutsche Landesbank Girozentrale Tel: 6323 1223 Fax: 6323 0223 CONSOLIDATED BALANCE SHEET CONSOLIDATED STATEMENT OF INCOME 31-12-04 31-12-03 31-12-04 31-12-031,756 words
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Advertisement1169 2005-06-03 10 F2DZ BANK Incorporated in Germany Singapore Branch Singapore Branch: 50 Raffles Place, #40-01, Singapore Land Tower, Singapore *****3 CONSOLIDATED BALANCE SHEET I CONSOLIDATED INCOME STATEMENT 31.12.2004 *****003 2004 2003 ASSETS ,n Euro million In Euro million 1. Interest earned 11,070 11,099 1. Cash reserve 1,290 879 2. Interest expense 9,0691,169 words
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ECONOMY WATCH
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Article, Illustration380 2005-06-03 11 US may further curb textile imports unless Beijing take more measures AFP [BEIJING] US Commerce Secretary Carlos Gutierrez warned yesterday that China risks "an outbreak of protectionism" if current trade tensions are not addressed and this may lead to further textile restrictions. "The BushAFP; AP - 380 words
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Article, Illustration671 2005-06-03 11 The former US defence secretary pledges to focus on 'real-world priorities' AFP [WASHINGTON] Taking the helm as the new World Bank president, Paul Wolfowitz yesterday pledged to focus on "real-world priorities" as a small group of protesters vented theirAFP; REUTERS - 671 words
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314 2005-06-03 11 AP [FRANKFURT] The European Central Bank kept its main interest rate unchanged at 2 per cent yesterday its level for two straight years despite weak growth in the eurozone economy. The bank, chief monetary authority for the 12 countries that use the euro,AP - 314 words
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403 2005-06-03 11 ANTHONY ROWLEY - Possible sign of monetary policy tightening By ANTHONY ROWLEY in Tokyo THE Bank of Japan yesterday openly skipped a billbuying operation that it has been aggressively using to pump liquidity into the financial system for the past four years. This is the first concrete sign403 words
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Article111 2005-06-03 11 Bloomberg [TOKYO] Indonesia's average annual economic growth rate is expected to be 6.6 per cent for the next five years, President Susilo Bambang Yudhoyono said. Mr Yudhoyono, who is on a visit to Tokyo to seek more investment from Japan, said that he expects economicBloomberg - 111 words
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276 2005-06-03 11 Reuters [BEIJING] China's economy has become too reliant on exports to fuel growth, and authorities should ease credit curbs somewhat to spur domestic demand, a top government think-tank said in a report published yesterday. The report by the State Information Centre, carriedReuters - 276 words
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Page 11 Advertisements
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Advertisement183 2005-06-03 11 Warn |rvHV*TP m&V Qjt m %'t \s&'' if *t N r* W F Bbht ■>~ v a i fit k if* MP:? r Global Corporate Services Company Formation Foreign Direct Investment Virtual Offices Since 1975 OCRA Worldwide has been providing offshore incorporation and administration solutions for Asian and International businesses.183 words
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MALAYSIA/INDONESIA
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333 2005-06-03 12 Temasek eyeing power investment opportunities, says Malaysian minister SINGAPORE arid Malaysia are working towards closer energy collaboration, including possible cross-bor-der electricity sales, with investment company Temasek Holdings also eyeing energy opportunities across the Causeway, according to a Malaysian minister. "They will explore first,"333 words
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693 2005-06-03 12 AFP [SINGAPORE] Hong Kong and Singapore have the best judicial systems in Asia, while those of Indonesia and Vietnam suffer the worst, according to a survey of expatriate business executives working in the region released yesterday. Hong Kong pipped Singapore forAFP - 693 words
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NOTE BOOK
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71 2005-06-03 12 Reuters [NEW DELHI] India has lifted a 74 per cent foreign direct investment cap for non-news publications in another sign the country is freeing up its media sector. Companies publishing scientific, technical or speciality magazines, periodicals or journals were now clear for full takeover,Reuters - 71 words
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73 2005-06-03 12 AP [HONG KONG] Donald Tsang moved closer to his widely expected selection as Hong Kong's next leader when he won Beijing's approval yesterday to campaign for the top job. MrTsang is heavily favoured because many believe Beijing values his long experience in the government and hisAP - 73 words
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67 2005-06-03 12 AP [HONG KONG] US Insurer AIG has withdrawn an application to add group insurance to its business in China because its Hong Kong agents violated rules by selling policies to mainland Chinese customers, the company said in a filing with US regulators. ItAP - 67 words
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68 2005-06-03 12 Bloomberg [BEIJING] China's securities regulator said it will make it easier for "high-quality companies" to list on the country's stock exchanges and "attack" poor disclosure. "We will make it easier for high-quality companies to seek financing," Shang Fulin, chairman of the ChinaBloomberg - 68 words
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306 2005-06-03 12 AP [KUALA LUMPUR] Many importers of foreign cars under-declare the value of their vehicles to evade taxes, causing the country to lose about RMI billion (Ss44o million) a year in revenue, a newspaper reported yesterday. The Malay-language Utusan Malaysia, citingAP - 306 words
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Advertisement486 2005-06-03 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF NEW MOUTH RESTAURANT PTE. LTD. (COMPANY NO.: *****4595 M) (PROVISIONAL LIQUIDATOR APPOINTED) Statutory Declaration by directors of Company inability to continue business by reason of its liabilities Name of Company: NEW MOUTH RESTAURANT PTE. LTD. (Reg.486 words
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Advertisement434 2005-06-03 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF THE GAPZ PTE LTD (COMPANY NO.: *****8041K) (PROVISIONAL LIQUIDATOR APPOINTED) Statutory Declaration by director of Company inability to continue business by reason of its liabilities Name of Company: THE GAPZ PTE LTD (Reg. No. *****8041K) I,434 words
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Advertisement619 2005-06-03 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND RADICA REVIVA CORPORATE SERVICES (S) PTE LTD (In Members' Voluntary Winding Up) REG. NO. *****9099E At an Extraordinary General Meeting of the Company held at 1 Raffles Place, •2901 OUB Centre, Singapore *****6 on the 27th day of May 2005,619 words
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Advertisement454 2005-06-03 12 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 QUANTUM OPTECH (SINGAPORE) PTE. LTD. IN MEMBERS' VOLUNTARY LIQUIDATION Co Regn. So. *****6160 C At ui Extraordinary General Meeting of the Company deemed to be held at Blk 637 Veerasamy Road #02-107 Singapore *****7 on 26 May 2005. the following resolutions454 words
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GREATER CHINA/INDIA
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540 2005-06-03 13 Announcement throws Thai govt's restructuring plan into disarray Reuters. Bloomberg [BANGKOK] State-backed Chinese firm Citic Resources Holdings Ltd threw a Thai government plan to restructure the country's biggest corporate defaulter into confusion yesterday. A day after the Thai Finance MinistryReuters.; Bloomberg - 540 words
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374 2005-06-03 13 Proposals in US Congress to prevent jobs moving overseas alarm Delhi Reuters [WASHINGTON] India wants a new world trade pact that would prevent the US and other countries from taking steps to ban companies from outsourcing jobs, a top Indian official saidReuters - 374 words
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191 2005-06-03 13 AFP [BANGLALORE] India's software and service exports soared 34.5 per cent to US$l7.2 billion in the last fiscal year as companies from abroad outsourced more work, an industry lobby group said yesterday. Including domestic revenues, Indian companies earned US$22 billion in the year endedAFP - 191 words
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Article, Illustration444 2005-06-03 13 Bloomberg [HONG KONG] Christie s International Pic says it fetched HK5990.5 million (Ss2l3 million) in a record Hong Kong auction that featured a 120-carat diamond, the largest sold publicly in Asia, along with paintings, watches and ceramics. The .company, the sec-ond-biggest auction house byBloomberg; AFP - 444 words
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809 2005-06-03 13 Economic reforms not enough, former leader told author AFP [BEIJING] A secret manuscript that Beijing is desperately trying to stop from being published outlines purged leader Zhfco Ziyang's plea for China to abandon one-party rule and follow the path of democracy, the author toldAFP - 809 words
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Advertisement486 2005-06-03 13 a j > r< I )i iicrs 111 I) <ird 1 "rrf". ««'//(>4 I(> )8() here lo win e, dine and en Icrla 111... i>'„. .jm 60 Reasons To Feast Again Savour delectable dishes in our popular '60 Dishes Deluxe Feast' such as Braised Shark's Fin Soup with Crabmeat. Shredded486 words
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Advertisement55 2005-06-03 13 MERITUS MANDARIN SINGAPORE BE SPOILT FOR CHOICE With our delectable selection of local delights and western favourites served all round the clock. Enquiries: 6831 6291 ■9 Coffeehouse lei floor MERITUS MANDARIN A division of Overseas Union Enterprise Limited (Company Registration No. *****0050E) 333 Orchard Road, Singapore *****7. Tel: 4-65 673755 words
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ASIA-PACIFIC/WORLD
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Article, Illustration686 2005-06-03 14 Prices top US$54 on expectations of higher demand in second half NYT. Reuters [NEW YORK] Crude oil prices rose 5 per cent on Wednesday on revived concerns that supplies will be tight this summer and through the end of the year. OilNYT.; Reuters; BLOOMBERG - 686 words
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220 2005-06-03 14 AFP [LONDON] Cigarette giant British American Tobacco (BAT) yesterday announced plans to outsource a quarter of production at its main factory in Britain to Singapore and South Korea to cut costs, raising fears of job losses. "Costs of production in the Far East are farAFP - 220 words
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403 2005-06-03 14 AFP [TOKYO] Momofuku Ando, the man credited with inventing instant noodles, will bow out of the business frontline at age 95 after seeing his cups of quick, hot and inexpensive meals sweep the world. The entrepreneur who entered the foodAFP - 403 words
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295 2005-06-03 14 Bloomberg [NEW YORK] Billionaire financier George Soros joined an investment group trying to buy baseball's Washington Nationals, the head of the group said. Mr Soros, 74, joined Big Train Holdco, a group headed by Jonathan Ledecky that is among the bidders for theBloomberg - 295 words
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Article454 2005-06-03 14 LATEST US DATA Reuters [WASHINGTON] US business productivity at the start of the year was a bit stronger than first thought, the government said yesterday, but labour costs rose at a swift 3.3 per cent annual rate, well ahead of expectations. Another reportReuters - 454 words
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Article267 2005-06-03 14 Reuters [LONDON] Party Gaming, the world's biggest online poker company, aims to float this month in what is likely to be London's biggest new listing for four years and reap millions for executives and employees. Party Gaming said yesterday that up to 23 per centReuters - 267 words
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Advertisement107 2005-06-03 14 i V Vmm Ali great companies were once startups. tVbe^reat? 81 I. p Nominations for the «BBHHI 2005 eSO.startup awards 2 005 are now open Recognising Singapore's New Enterprises To be eligible, a company must: be a privately-held enterprise be under 5 years old (from date of incorporation) have a107 words
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WORLD
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Article, Illustration922 2005-06-03 15 Mr Bush nominates limited government advocate as next chairman Bloomberg. Reuters. AP [NEW YORK] The resignation of William Donaldson, as chairman of the US Securities and Exchange Commission (SEC) on May 31, may trigger a battle to reduce the agency's reachBloomberg.; Reuters.; AP - 922 words
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323 2005-06-03 15 AP [BOSTON] The chief executive of Gillette Co testified for nearly six hours on Wednesday about the pending takeover of his company by Procter Gamble Co, providing information state regulators said could prove "very helpful" to their investigation of the deal.AP - 323 words
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493 2005-06-03 15 Asset management unit profits are only 1% of bottom line NYT [NEW YORK] Citigroup, which has been disposing of its non-core assets, is in talks with Legg Mason about a possible sale of its asset management unit, sources said on Wednesday.NYT - 493 words
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367 2005-06-03 15 [NEW YORK] Two leading UK institutional investors have formed a transatlantic alliance with the pension funds of Illinois and New York City to urge Wal-Mart, the world's largest retailer, to set up an independent review of its legal and regulatory controls, said367 words
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326 2005-06-03 15 LAT-WP [NEW YORK] The New York Stock Exchange knocked off a bit early on Wednesday, four minutes early to be exact. Instead of the normal 4 pm closing time, stocks stopped trading hands at the world's largest market at 3:56 pm.LAT-WP - 326 words
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Page 15 Advertisements
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Advertisement1010 2005-06-03 15 |Q^^^^^^^H^|T^^vertis^^HoiHre^Bo^B^B22^m^l^oticMOsphxom^g IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF YANGTZE UNITED MARITIME TRANSPORT PTE LTD (Company Registration No.: *****5324G) (IN MEMBERS' VOLUNTARY LIQUIDATION) At an Annual General Meeting of the Company duly convened and held at 800 Zhang Yang Road, 23rd Floor, Shanghai on1,010 words
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AVIATION/SHIPPING
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Article, Illustration366 2005-06-03 16 Plane maker to source aircraft parts from them to cut costs Bloomberg. AFP [BEIJING] Boeing Co, the world's second-biggest maker of commercial aircraft, said that it signed contracts with Chinese aircraft parts makers valued at an estimated US$6OO million as part of its planBloomberg.; AFP; FILE PHOTO - 366 words
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Article, Illustration484 2005-06-03 16 Reuters [BRUSSELS] The European. Commission (EC) opposes a voluntary tax on air travel to fund extra development aid for Africa and will defy a request by EU finance ministers to make such a proposal, a commission source said on Wednesday. The EuropeanReuters - 484 words
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320 2005-06-03 16 Narita to cut landing fees by 21 on Oct 1 Bloomberg [TOKYO] Narita International Airport Corp, manager of Japan's largest terminal for overseas flights, will cut landing fees by 21 per cent to attract airlines and compete with other airfields in Japan and abroad. Starting on October 1, the averageBloomberg - 320 words
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294 2005-06-03 16 Bloomberg [CHICAGO] Delta Air Lines must keep unrestricted cash of at least US$l billion, an increase from US$75O million, under an amended loan agreement with a General Electric Co finance unit that may help the carrier avoid bankruptcy. The airline disclosedBloomberg - 294 words
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648 2005-06-03 16 AFP, Bloomberg [KUALA LUMPUR] Pirates have kidnapped a Thai captain and crewman from a tanker in the busy Malacca Strait, in the latest of a string of sophisticated kidnap-for-ransom attacks, an international watchdog said yesterday. The owners of the Thaiflagged vessel reportedAFP,; Bloomberg - 648 words
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Article307 2005-06-03 16 SGX '000 Jun* 2 SS Vol CH Offshore 0 35 "-0.01 547 Chuan Hup .0.74 unch 449 Cosco Corporation 1.78 -0.02 4275 CWT Distribution J>66 0 01 67 EzraHklgs 123 0.01 102 Freight Links 0 06 unch 87 Grand Banks Yacht .0.97 unch 20 Jaya Holdings 1.04 unch307 words
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Article385 2005-06-03 16 AIRLINE CODES: AA: American Airlines (AAL), AF Air France (AFR), AI: Air India (AK), AY Finnair Oy (FIN), AZ: Alitalia Airlines (AZA),BA: British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR EVA385 words
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Page 16 Advertisements
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SHIPPING
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Article, Illustration572 2005-06-03 17 DONALD URQUHART - Long-term solutions to North America gridlock still years away By DONALD URQUHART [SINGAPORE] A transpacific container shipping line industry body has called for advance planning and communication by all supply chain parties, as it warned of "another challenging peak shipping season" ahead.AP - 572 words
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635 2005-06-03 17 DAVID HUGHES - But there's widespread unease over its future By DAVID HUGHES in London AS Norway prepares to host the biennial Nor-Shipping show next week, the country's maritime industry is looking ahead with a strange mixture of determination and anxiety. Norway is, in population terms,635 words
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814 2005-06-03 17 SELVA KUMAR - ADMIRALTY CASEBOOK By SELVA KUMAR THE charterers of a vessel that was hired for a single trip from US Gulf ports to South Korea have won a court declaration that the vessel was off hire for the six days that it spent waiting for814 words
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Page 17 Advertisements
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Advertisement46 2005-06-03 17 We Provide: Training Consultancy for regional Navies Maritime Courses for Merchant Marine Maritime Surveys and Consultancies k Homeland Security 1 ST Education Training Pl» Ltd 1 Maritime Square #11-19 Harbour Front Centre Singapore *****3 Tel: +65 6477 6688 Fax: +65 6477 6677 E-mail: adminOstet.com.jg W»b*ite: www.rtet.com.jg46 words
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Advertisement49 2005-06-03 17 MARITEC MAIUNC FUEL SOLUTIONS Maniac hm wrong programme Custody Transfer Sampler Bunker Quantity Survey Mam Fuel Consultancy J Marine Chemicals ami Gases MARITEC PTE LTD (Company Registration Number: *****6554N) 192 Pandan Loop, #05-26/27/28 Pantech Industrial Complex SINGAPORE *****1 Tel: (65) 6271 8622 Fax: 6271 9236 Email :admin@maritec.com.sg/sales@maritec.com.sg website: www.maritec.com.sg49 words
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Advertisement228 2005-06-03 17 FAR EASTERN FREIGHT CONFERENCE (FEFC) Asia (excluding Japan) to North Europe and Mediterranean Trades Ist July 2005 Conference Rate Restoration In April 2005, in the face of unprecedented cost increase in almost all areas of their business, Member Lines of the FEFC implemented a Conference rate restoration. Although this Conference228 words
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EDITORIAL & OPINION
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Article513 2005-06-03 18 EDITORIAL A THAI court's decision this week to fine former central bank governor Rerngchai Marakanond 186 billion baht (557.6 billion) for a failed attempt to protect the baht some eight years ago has put the 1997 Asian financial crisis and its aftermath back in the news again.513 words
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Article, Illustration827 2005-06-03 18 DAVID MASON - A breather and a little 'management consultancy' can put things back on track again DAVID MASON THE draft European Union Constitution has been rejected by a large majority of voters in both France and The Netherlands, the first two countries to have heldAFP PHOTOS - 827 words
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Article, Illustration722 2005-06-03 18 FRANK CHING - THE BOTTOM LINE FRANK CHING MAINLAND China is stepping up its campaign to woo Taiwan by offering sweeter "carrots", but so far Taiwan has remained suspicious and, in some cases, has rejected the overtures and questioned Beijing's goodwill. For example, in response to722 words
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Article, Illustration2040 2005-06-03 19 K KESAVAPANY - A mammoth regional grouping involving Asean and other countries and groups is in the works By K KESAVAPANY ASIA is in the process of creating a huge regional grouping such as the Asean Plus Three, which includes Asean, plus China, Japan and Korea,REUTERS FILEPHOTO - 2,040 words
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541 2005-06-03 19 Ricky Lee - Ricky Lee Singapore WHY are privatised Singapore state-owned companies continually raising their prices for Singapore consumers and businesses, when the government's rationale for their privatisation was that it would bring about greater efficiencies and, therefore, lower prices? Before privatisation, Singapore state-owned companies do not541 words
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Article355 2005-06-03 19 Chong Kim Seng - LETTERS TO THE EDITOR Chong Kim Seng Principal Specialist Consultant Personal Business Consultants Associates I REFER to your article "Big boost for Singapore's bid to be trading hub" (BT, May 27). I must congratulate the Minister for Trade Industry, Mr Lim Hng Kiang, for his announcements355 words
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Page 19 Advertisements
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Advertisement890 2005-06-03 19 JTC Corporation is inviting interested companies to submit proposals for the development and management of a Seafood Complex. Through this project, JTC aims to create an environment where seafood and related businesses can collaborate and flourish within a custom-built facility. The successful company will be allocated an identified site at890 words
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Article2478 2005-06-03 20 SGX XTRANET S2-M Tal LJSt Vol Day Last Quote GrOrv Otv OrYld Net MCap HMI L—f C»4* tommy Mt W- COOP) High Lew fciy«r liter S Cvr m S«ml ********** 6065 Diamonds US*****aJ 6095 ISDJUSTedl US3740 6097 IS MSG Spore US555 6101 ISSAP500 US8270 ********** 6170 SPDRS US*****2,478 words
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Article3371 2005-06-03 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES l« teat van In SI la USS dy Kyr %tfy %yt %4y %yr iun>1 tnd»» Chin* ChMijf Cn»nq» Ch«nq> Oiinp* Chug* Work* iraia fctfcmwj 857.1 1J t? M 07 M -U 1 EAFl Ptrtrrunafy 193 10 U »J0 04 -M Europe Prrtmmaiy *****3,371 words
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Page 22 Advertisements
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Advertisement1234 2005-06-03 22 t gjgJx NYK GROUP SOUTH ASIA PTE LTD »NHu« Hts m. !LI N E Fax: 6292 2856 (Regional sales) 6239 7109 (OPS)/ 6299 5785 (Documentation) V NIPPON YUSEN KAISHA TOKYO «o#**U KASHA. HO (C/R NO: **********0E) o*gSt J* m M I CR#: 1378 *****000 fIMATOM IM Main 6536-2730 Anion Houm1,234 words
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Advertisement846 2005-06-03 22 IINTIRAHA RORO SERVICE vissa/voY Mwrom hbghtw) pkg kh la sw jkt STRAITS VENTURE 10/05 IS 3.2 11/05 12/05 STRAITS VENTURE 11/05 IS 3.2 21/05 24/05' 29/05 01/04 03/04 STRAITS VENTURE 12/05 IS 3.2 05/04 08/04 laustraiian roup service I VBsa/yor hbchtwl iq isi ijkt wi syp m ux w|i ta846 words
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Page 23 Advertisements
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Advertisement932 2005-06-03 23 www.homburasud.com H AUSE SERVICE (EXPORT) ETA Jtt SINGAPORE IRISIANE SYDNEY MIUOURNI ADILAIPt SINGAPORE HISIANE SYDNEY MfIIOUMK ADIUIM CStL XIAWEH ***** 10/0* 20/04 22/06 25/D6 21/06 CSCL XIAMEN 0079S 01/07 11/07 20/07 23/07 26/07 SCOTIA 018S 17/06 27/06 29/0* 02/07 05/07 SCOTIA 01K 15/07 25/07 27/07 311/07 02/01 CAIYIIH HEO6OS 24/06932 words
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Advertisement1178 2005-06-03 23 VESSEL VOY SIM JKT HKGTSjtTpHC KYH PUS VESSEL VOY SIM JKT SUB HKG DSN PUS HYBRID6E WSS _8/6_ _9/6_ J]A J6/6JM M/ 6 KKTC SINGAPORE 508S S/6 8/6 9/6 14/6 18/6 19/6 HY VLADIVOSTOK I6OS IS/6 11/6 23/6 2S/6 27/6 29/6 29/6 KMTC JAKARTA SOUS 12/6 IS/6 16/6 21/6 2S/61,178 words
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Advertisement866 2005-06-03 23 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VESSEL VOY SIN I PJUANGI COLOMBO IN. SHEVA I COIOMIO RJUIV GANDHI 0093W 30 MAY 31 MAY QUJjN M! SIM bM isrmr Q7JUH LLUW HUU ILUII PACIFIC OUKT 0007W 13 JUH 141UM 17 JUN 20 JUN 23866 words
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Page 24 Advertisements
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Advertisement1006 2005-06-03 24 UXAf WALLENIUS WILHELMSEN website: http://www.2wglobol.com Vissa "YOY RAMP miGHT SIH IK ~j>o~ HOW MA SAY Mi OtF NYC IKW MOO TAMERLANE AFSIS 320Tms 6.4 M 11/06 02/07 11/07 IS/07 11/07 16/07 TAIKO AFSI6 4201 m 6.4 M 18/06 20/07 24/07 20/07 26/07 30/07 TARONGA AFSIS 3201 M 6.258 20/07 12/011,006 words
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Advertisement1426 2005-06-03 24 sw pcu rasa yor sm jkt I PAC BANDA I 14S4N 04/0* OS/M HCMU 4H9 05/06 07/06 I MTurn* 1 Tuui OS/M 06/06 PACHNUM 9302 07/0* 09/06 SFST 0130f 07/0* 01/06 41>6 TflS U/Z PACIAMOA m* 07/0* 07/0* nu»m uizM nm fiszs*_ ■■^Mn i iiibiim •SSt S $8 B&- n«1,426 words
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Advertisement743 2005-06-03 24 BSA -i. MYANMA |H FIVE STAR LINE (MyaMar National Line) Loading lor Yang on ViSSE VOT SIN PKI PIN PGU PAGAN 346W SID HPA-AN 337W SID IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKL: 03-*****388 PIN: 04-*****1S MMmk ACCEPTING CONVENTIONAL C6O VESSEL VOT HKG SIN PGU PU KUC JACARANDAAd 109 SU) SID743 words
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THE BUSINESS TIMES SHIPPING TIMES
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Page 25 Advertisements
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Advertisement559 2005-06-03 25 Guaranteed Sailing! I Service from Singapore to: I Los Angeles Keelung I Weekly Consol. Twice weekly I Mon cut-off. Consol. I 14 days transit. on yh urs CU f. o f f HUB MARINE PTE LTD BOOKING: *****375/718 MAINLINE: *****806 FAX: *****066 OPR CODE "DX" CR NO **********0Z MARKETING SALES:559 words
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Advertisement856 2005-06-03 25 5 FREIGHT LINKS EXPRESS PTE LTD 51 Penjuru Road, 3 Level, Freight Links Express Logisticentre, Singapore *****3. Tel: *****511 Fax: *****577 E-mail: flesin@singnet.com.sg Website:http://www.freightlinks.net LCL SERVICE TO CHINA ASIA CEBU DALIAN HONG KONG JAKARTA QINGDAO fftf wfri' SHANGHAI SURABAYA XINGANG XIAMEN BEST LCL RATES TO AARHAUS ASHDOD BEIRUT BUENOS AIRES856 words
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Advertisement465 2005-06-03 25 HHIHTIGERSEA 288N 05-06/06 11 12/06 18 19/06 1 ■MniRRI TIGER SKY 289N 07-08/06 14 16/06 21 22/06 1 HLijUiyil TIGER WAVE 290N 11-12/06 17 19/06 2 5 26/06 1 ■JETIM TIGER PEARL 291N 14-15/06 21-23/06 28 29/06 I ■■■■■TIGER SEA 292N 18-19/06 24-26/06 02 03/07 1 TIGER SKY 293 A465 words
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SINGAPORE ARTS FESTIVAL
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Article, Illustration591 2005-06-03 27 APARNA RODDAM - APARNA RODDAM looks at the results of the joint effort between the Victorian Tapestry Workshop and Singapore artists APARNA RODDAM THE Arts Festival this year is seeing the emergence of new media, new formats, ami new platforms especially in the realm of contemporary visual arts. As591 words
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518 2005-06-03 27 AZIZAN DUANA - By AZIZAN DUANA WITH the new Malay Heritage Centre's official opening tomorrow at the former Istana Kampung Gelam, it's hoped that the new home for Malay heritage will also spark a revival in Malay folk theatre —or lakon rakyat. For the Singapore518 words
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Page 27 Advertisements
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Advertisement246 2005-06-03 27 Sony Ericsson itaMNWr' > Jlif^l r mmmr r :;-'.:4"5 v^i^s^.'.^i^--'-" Stream in the breaking news story, confirm your estimates on the Internet, then make your decision in person via Video Cal... instantly. Introducing the featured-packed ZBooi, a 3G mobile that keeps you up to pace with the world of business.246 words
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ARTS
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Article, Illustration1062 2005-06-03 28 PARVATHI NAYAR - Curator Eugene Tan tells PARVATHI NAYAR why the artist was chosen PARVATHI NAYAR Conceptually, Singapore's participation at the 51st Venice Biennale promises to be a stimulating partnership. After all, the artist being showcased is Lim Tzay Chuen, known for the strongly conceptual underpinning to1,062 words
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Page 28 Advertisements
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Advertisement183 2005-06-03 28 j < *^^^Bteif|!f v Kl ?J| tw j^vj^hmKiGi^^^^Hßh^P^ HI I BSHE§PIt PvN I*A JII\JLI *r, >~ Jt '-X?-sf a^fell^^Hl^^Ep9^^i^H^<jSi&» f v an*» i WjkiA i\% '1 J *f \w 1 freak shows, adventures of love and life and mo»,w«tie«e your funny bone /jk A you bouncing 5^ 3 U (45183 words
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COVER STORY/CINEMA
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Article148 2005-06-03 29 A FEW years ago, a lego game for corporate executives was making its rounds as a corporate training tool. Before that, paintball sessions and outdoor bound-adventure camps were popular tools for team-building as companies constantly looked for ways to improve team work and inject "fun"148 words
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Article, Illustration470 2005-06-03 29 HERE'S a new one: you emerge from a long training session, ready for lunch, and when you get to the restaurant, you find out that you have to set your own table and make your own canapes before you can tuck into your meal. That'sARTHUR LEE/POSED PHOTO - 470 words
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Article, Illustration702 2005-06-03 29 JAIME EE - By JAIME EE WHAT'S the meaning of life, the universe and everything? Douglas Adams was particularly interested in this, but rather than become a full-time philosopher writing books that only other philosophers would read, he created a cult hit called The Hitchhiker's Guide to the702 words
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Article, Illustration420 2005-06-03 29 COMPANIES which sign up for Alvin Lee's unorthodox method of corporate training get this instruction list: Come in comfortable beach gear. Bring shades, sunblock and hat. Be prepared to get sandy and sweaty. The brief? To build sandcastles that are no less than 1.5 metres high.420 words
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Article, Illustration463 2005-06-03 29 IMAGINE a roomful of people banging on drums or shaking some tambourines just making percussive noise in general and there you have Human Rhythms' unusual group activity that's burst onto the corporate training scene in Asia with a literal bang. It's the brainchild of463 words
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Page 29 Miscellaneous
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Miscellaneous304 2005-06-03 29 CRYPTIC CROSSWORD 1 Obtained information from re6 Electronic device rendering lyric 9 Something bright in the night I I I I I I I I sky worries sailor (7) or one noisy 3 Three figures to define a single —||HH 17 Thinner relation settling in Ger- 17 I 118 I304 words
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executive lifestyle
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621 2005-06-03 30 jaime ee - off the cuff jaime ee THERE is a new cult in town. It starts with an 'S' but it is not Scientology. It is an insidious little cult that also happens to have secret official sanction. It is called Saleology.621 words
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Page 30 Advertisements
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Advertisement94 2005-06-03 30 E/ J J i m I Vgiiicg Biennale _______—mc-.? ""VHHHHHHHHHHUHBH 1—JSCTBI £l. MlDilWry jK. oca 250 YEARS OF UNINTERRUPTED HISTORY... uariiil^rjrram OVERSEAS CHRONOGRAPH W J^^Jm f Selfwinding mechanical movement. 40 hour power reserve. Soft-iron antimagnetic shield. Water-resistant to 150 m 500 feet). Screwed-in crown *****/BOIA-9095 ...DEDICATED TO PERFECTION VACHERON CONSTANTIN94 words
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Advertisement22 2005-06-03 30 SCORE CARD Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. [Noticesl22 words
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