The Business Times, 10 June 2005

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Total Pages: 30
1 30 The Business Times
  • 18 1 THE BUSINESS TIMES SlW^te:^c6Rts v lilli#- > \y online at http://business-times.asia 1 .com.sg MICA (P) 089/03/2005 Friday, June 10,2005
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  • 590 1  -  PSA said to have paid US$800m for a 20% stake in Li Ka-shing's HIT By DONALD URQUHART [SINGAPORE] In a move that recasts former rivals into strange bedfellows, PSA International is said to have paid as much as US$BOO million for a
    590 words
  • 1105 1  -  By MICHELLE QUAH [SINGAPORE] China Aviation Oil's suspended chief executive and four other senior officials were charged in court yesterday with offences ranging from insid-er-trading to forgery to making false and misleading statements. If found guilty, they face heavy fines and/or significant
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  • Page 1 Advertisements

  • TOP STORIES
    • 759 2  -  NEWS ANALYSIS In the grey market shares are said to be worth little more than 20 cents By WONG WEI KONG [SINGAPORE] Shares of China Aviation Oil (Singapore) could resume trading this year if all goes well with the company's restructuring
      BLOOMBERG  -  759 words
    • 482 2  -  By JOSEPHINE TAY [SINGAPORE] Old money continues to dominate the list of Japan's richest. The best example of this is of course Nobutada Saji, who has been crowned Japan's wealthiest man in Forbes' inaugural list of the country's richest people. Mr Saji, 57,
      482 words
    • 133 2 □sn 2.***** (+027) ST INDEX FUTURES 2.195.00 (-10.00) siMsa 260.17 (+0.45) SIMSa FUTURES ***** (+030) MARKETS Thursday Change KLSECOMP 879.40 -004 NKKEI225 11.160.88 -120.15 HANG SENG 13.***** -0.24 SET INDEX 677JO -6.87 JAKARTA COMP 1,094.19 -1.32 MANILA COMP 1,898.24 -55.04 SEOUL COMP 987.58 ->-11.36 SHENZHEN B 232.50 +0.11
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    • 561 2 Reuters. AP, Bloomberg [WASHINGTON] Federal Reserve chairman Alan Greenspan said yesterday that with the US economy on a "reasonably firm footing" and underlying prices tame, policy-makers should be able to raise interest rates at a measured pace. In his most extensive remarks on the
      Reuters.; AP,; Bloomberg  -  561 words
    • 756 2 MAS proposes to raise Reits' borrowing limit REAL estate investment trusts (Reits) could see an easing in borrowing restrictions under proposals by the Monetary Authority of Singapore. MAS told BT yesterday that it is about to start a public consultation on raising Reits' gearing limit from the current
      756 words
    • 1112 3  -  BT exclusive Changes to give Reits greater flexibility, boost investor protection By KALPANA RASHIWALA [SINGAPORE! Real estate investment trusts could see their borrowing restrictions relaxed, under proposals by the Monetary Authority of Singapore. MAS told BT yesterday that it is about to start
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    • 440 3  -  By S JAYASANKARAN in Kuala Lumpur MALAYSIA'S stock exchange is considering limited trading hours for thinly traded or more volatile stocks in a move aimed at foiling share manipulation, according to an official from Bursa Malaysia. Share manipulation by so-called syndicates is
      440 words

  • Page 3 Advertisements
    • 1061 3 NICO STEEL HOLDINGS LIMITED (Incorporated in the Republic of Singapore) y/F Company Registration No.: *****4166 D NOTICE IS HEREBY GIVEN that the Fourth Annual General Meeting of the Company will be held at Newton Room (601), Level 6, RELC International Hotel. 30 Orange Grove Road, Singapore *****2 on Tuesday, 28
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    • 149 3 vulCain MANUFACTURE OEPUIS 1858 f THE PRESIDENTS" f WATCH r ■*>-*.5— j C picket Aviator Dual Time in Steel Hjsbi', IbumJN I rWON H JOHNSON R'lHtH M rjl.ON Today, wearing a Vulcain watch still implies belonging to a great LINEAGE- OF EXCEPTIONAL MEN. It IS FOR THEM THAT VuLCAIN HAS
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  • COMPANY NEWS
    • 875 4  -  It will also increase travellers, boost spending by US visitors to Australia By VEN SREENIVASAN LACK of competition on the Australia-US trans-Pacific air route has kept fares high and enabled Qantas to make more profit from the route than its other longhaul routes, a
      AFP  -  875 words
    • 516 4  -  IPO WATCH By VEN SREENIVASAN SOUTH Korean shipping giant STX Pan Ocean Co Ltd is heading for a mainboard listing on the Singapore Exchange, making it the first Korean shipping concern to apply for a listing here. The company, which
      516 words
    • 682 4  -  HOCK LOCK SIEW By MICHELLE QUAH WEARY shareholders of Vantage Corp got scarce comfort this week from news of a fresh bid for the company; since the stock was suspended last September, they have witnessed many such false dawns. It
      682 words
    • 494 6  -  Consolidation of watch industry at retail level must happen, he says By ALEXANDRA HO WATCH out. Singapore's luxury timepiece retail industry could be heading for a shakeout. Henry Tay, executive chairman of The Hour Glass, Singapore's largest listed watch retailer by
      FILE PHOTO  -  494 words
    • 341 6  -  By LISA TAN TOGETHER with its associate in Beijing, Taiwanbased TPV Technology has overtaken Samsung to become the world's largest iqaker of liquid crystal display (LCD) monitors. This comes as TPV's combined LCD monitor shipment rose to 3.4 million units for its
      341 words
    • 293 6  -  By AMIT ROY CHOUDHURY SINGAPORE Telecommunications and Network Advantage, a New Zealand-based satellite communications management system developer, are planning to use next week's CommunicAsia event to announce an automatic network disaster recovery service which will help customers restore critical communication links immediately in the event of
      293 words
    • 425 7 S'PORE-TAIWAN LINKS S'pore bourse says both markets are complementary, not rivals Reuters [SINGAPORE] The Singapore Exchange Ltd (SGX) yesterday sought to allay fears in Taiwan about a move to electronic trading of a stock futures product, saying it complemented rather than rivalled Taiwan's
      Reuters  -  425 words
    • COMPANY BRIEFS
      • 127 7 SPEEDY-TECH Electronics, which was listed on the mainboard last year, has entered into a merger agreement which will lead to its delisting and becoming a wholly owned subsidiary of Philippines' Integrated Microelectronics Inc(IMI). Unlisted IMI, which like Speedy-Tech is an electronics manufacturing services (EMS) provider, is
        127 words
      • 99 7 TWO CSE Global subsidiaries have been awarded contracts worth $17 million. Singapore-based Transtel Engineering was awarded a contract by ConocoPhillips China to deploy a telecommunications network for its offshore platforms in the Gulf of Bohai, China. CSE's US-based subsidiary W-Industries„ secured a contract also
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      • 56 7 VANTAGE Corporation has appointed KBC Bank (Singapore) as the independent financial adviser for its independent directors in connection with the partial offer made by Global Advisory Group. Global Advisory is making a bid for a controlling 50.1 per cent stake in the former Blu Inc Group at
        56 words
      • 55 7 MEGHMANI Organics said it has obtained a total of 13 registrations for agrochemical products in the first quarter. The registrations were made in China, Bangladesh, Indonesia, Nigeria, Paraguay, Thailand, Turkey and Vietnam. Meghmani, an India-based manufacturer of pigments and agrochemicals, already has 39 registrations worldwide
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    • 278 7 Want Want sees profit rising 31 Reuters [SINGAPORE] Taiwanese snack maker Want Want Holdings said net profit could rise 31 per cent this year and hopes to generate at least a quarter of its sales from property investments in China within five years. "Our own target is dou-ble-digit growth We've
      Reuters; FILE PHOTO  -  278 words
  • Page 4 Advertisements
    • 975 4 sia EncinEEßinG comPAny NOTICE OF ANNUAL GENERAL MEETING SIA ENGINEERING COMPANY LIMITED (Incorporated in the Republic of Singapore) t Company Registration No. *****1025 C NOTICE IS HEREBY GIVEN that the 23rd Annual General Meeting of SIA Engineering Company Limited ("the Company") will be held at Mandarin Ballrooms 1 and 2,
      975 words

  • Page 5 Advertisements
    • 166 5 -j& ssssm v^^^S ygr^jp w jpgp IPPPfiI fi ImjiTivE. SKILFUL TO TNC PHNED HANDS aF a t The new VGO VlO cyber relax series clearly sets the new benchmark in of Intelligent Massage Chair. Incorporating state-of-the-art technology with the sensitivity of the human touch, VlO Humanology is the future of
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  • Page 6 Advertisements
    • 0 6
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    • 104 6 < '|!9k All great companies -tZzzM gjfi-. B^v iij Bj mammmmmmmm^^wmmmam l2 Nominations for the «WWIi 2005 eso.startup awards 2005 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 a strong nexus
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  • Page 7 Advertisements
    • 130 7 I Booster Capital Guaranteed Fund ISQDRI^^I9/^^^9j6^Q^ Double Joy Capital Guaranteed Fund I nnsnnnm uso RID 23/05/05 10.00 USD i spcsChickenWing Wood Sofa Set 4 Doors Rosewood Two (48" °7(rL) fG.ssDjCab^lßo^^ rfMßiiß aS tS Tan > vfrM w/Sauare A I 9 50 L 1 838 mm I h t/" 7 CsSS
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    • 164 7 We know, how your favourite movies, music and sports can make time fly. And drive stress away. C *mtt j( Sky Screen non-stop entertainment on board your flight to Mumbai. With the variety of entertainment options we have on Sky Screen, flying has never been so relaxing, or so much
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  • SINGAPORE MARKETS
    • 486 8  -  STOCKS Rotational playing of second line goes on with focus on May IPO flops R SIVANITHY Senior Correspondent MANY investors out there seem aversion for their reasons. most part, the gains posted by the Straits Times Index last year and so far this year have not
      Source: Bloomberg  -  486 words
    • 749 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jun 9 and earlier) Subsantlal No of Price SHAREHOLDING Shareholder Buy I Shares Per Before After Stock Trans Date Director Sill [000 Shrj ('000) ('000) Adv Integrated 9-Jun-05 Tan Kim Yong Buy 3000 0.21 *****0 68.90 *****0 69.40 Adv Integrated 8-Jun-05
      749 words
    • 229 8  -  Compiled by NANDE KHIN VINCENT Tan, group executive chairman and CEO of Advanced Integrated Manufacturing, yesterday bumped up his direct stake in the newly-listed company from 68.9 per cent to 69.4 per cent. He bought three million shares in the open market at
      229 words
    • Article, Illustration
      903 8  -  Compiled by R SIVANITHY Frontline Technologies June 9 dose: 12 cents DBS VICKERS, May 27 FRONTLINE Technologies recorded a strong set of FYOS results registering a turnover of $149.6 million, up 40 percent from the previous year. On a segmental basis, IT infrastructure and outsourcing continued to see
      Source: Bloomberg  -  903 words
    • 526 8  -  CURRENCIES LARRY WEE Senior Correspondent US DOLLAR bears were once again looking more defensive than aggressive by the Asian close yesterday, especially after another failed recovery attempt by the euro overnight. Traders report- Ed that the euro fell as much as 1.5
      Source: Reuters  -  526 words

  • SINGAPORE NEWS
    • 483 9  -  He says there 'need not be any fundamental conflict between the two countries' By DANIEL BUENAS THE US should not see China as an adversary in a new Cold War, Senior Minister Goh Chok Tong said yesterday, while putting their
      REUTERS  -  483 words
    • 206 9 A72,7lBsqftfreehold residential site along Holland Road has come on the market following the launch of the collective sale of Carlton Terrace. The minimum price set for the low-rise development, comprising 24 walkup apartments currently, is $54.1 million, inclusive of development charges. This works out to
      206 words
    • 172 9 THE Central Provident Fund minimum sum, the Medisave minimum sum and Medisave contribution ceiling will be raised from July 1, the CPF board confirmed yesterday. For those who turn 55 between July 1 2005 and June 30 2006, the CPF minimum sum will increase to $90,000
      172 words
    • 34 9 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ 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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    • 632 10 The curriculum was designed by a distinguished panel of advisers IF you're keen to pursue a career in private banking, there's a course that could help get you there. The two-month certificate programme is created by the Wealth Management Institute (WMI), in line with
      632 words
    • 234 10 CITIBANK and Harvey Norman the chain of electronics and furniture stores have launched a co-branded credit card and a private-label card. They differ from other cards issued jointly by banks and retailers in that the Citibank Harvey Norman MasterCard and the Harvey Norman Card
      234 words
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  • Page 10 Advertisements
    • 632 10 I I IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF CENTRAL EDIBLE OIL (S) PTE LTD (IN COMPULSORY LIQUIDATION) Company Registration No. *****2763N NOTICE OF INTENTION TO DECLARE DIVIDEND Name of Company: CENTRAL EDIBLE OIL (S) PTE LTD (IN COMPULSORY LIQUIDATION) Address of Registered
      632 words
    • 657 10 IN THE MATTER OF THE COMPANIES ACT (CAP. 50, 1994 ED) AND IN THE MATTER OF NICHIMEN (SINGAPORE) PTE. LTD. (In Members' Voluntary Liquidation) (Company Reg. No. *****0018E) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act (Cap. 50,1994 Ed), the Final
      657 words
    • 891 10 UNITED OVERSEAS BANK LIMITED (Incorporated in Singapore) (Co. Reg. No. *****0026Z) LOST SHARE CERTIFICATES The undermentioned certificates have been reported lost, destroyed or mislaid Name Certificate No. No. ot »hare» Khoo Keng Boon *****79-2 112 do *****02-4 5 NOTICE IS HEREBY GIVEN that new share certificates will be issued and
      891 words
    • 210 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF STUDIO PRINT PRIVATE LIMITED COMPANY REQ. NO. IM3-*****-Z (IN VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the members of STUDIO PRINT PRIVATE LIMITED duly held and convened at 6 Battery Road #18-03 Singapore *****9 on
      210 words

  • ECONOMY WATCH
    • 790 11 But for markets, euro volatility, slow growth are bigger issues Reuters [LONDON] Washington will keep up pressure on China to reform its rigid currency peg when finance chiefs of the world's richest nations meet at the weekend, but euro volatility
      Reuters; AFP  -  790 words
    • 422 11 Bloomberg [WASHINGTON] President George W Bush said Chinese government officials have indicated "they understand" US concerns about revaluing its cyThe US and China have "a complex relationship", Mr Bush said in an interview with Fox News Channel's Neil Cavuto. He cited the
      Bloomberg  -  422 words
    • 635 11 Reuters [BRUSSELS] The European Union warned on Wednesday that it would not hesitate to slap import duties on Chinese footwear if it was clear that unfair trade practices were behind a tripledigit leap in shipments since the start of this
      Reuters; REUTERS  -  635 words
    • 458 11 AP [WASHINGTON] The Bush administration on Wednesday issued a slightly less optimistic forecast for US economic growth and inflation for the rest of the year but predicted a solid increase in new jobs. The White House is predicting that GDP will
      AP  -  458 words
    • 516 11 Bloomberg [WASHINGTON] Federal Reserve governors and other US banking regulators are growing concerned that easier credit standards and greater use of interest-only loans are fuelling home price speculation, increasing risks to the US banking system as interest rates rise. "Financial institutions may
      Bloomberg  -  516 words

  • MALAYSIA/INDONESIA
    • 503 12 He adds that allegations of corruption are being investigated AP [KUALA LUMPUR] A controversial policy of giving out car import licences exclusively to Malaysia's majority Malays will not be scrapped despite complaints that it is being abused, the prime minister said yesterday. Prime Minister
      AP; REUTERS  -  503 words
    • 344 12 Reuters [SINGAPORE] Titan Chemicals Corp raised about RMBOO million (*****.1 million) in Malaysia's biggest IPO this year, at the bottom end of expectations, amid a weak outlook for the world's petrochemical industry. Investors' sentiment towards petrochemical stocks is souring on expectations that the
      Reuters  -  344 words
    • 328 12 Bernama [JAKARTA] Malaysia's leading Malay newspaper and magazine publisher, Utusan Melayu (Malaysia) Bhd, marked its advent into Indonesia's outdoor advertising business on Wednesday, a fast growing industry which was worth 719 billion rupiah (Ssl2s million) last year. Group executive chairman Mohamed Hashim Ahmad Makaruddin said
      Bernama  -  328 words
    • 365 12 Bloomberg [JAKARTA] PT Indosat, Indonesia's second-biggest phone operator which is 41 per cent owned by Singapore Technologies Telemedia Pte, promoted Hasnul Suhaimi to company president on Wednesday, giving him the job of tackling rising competition from overseas and local rivals. The appointment of
      Bloomberg  -  365 words
    • 456 12  -  By S JAYASANKARAN in Kuala Lumpur THE Malaysian unit of Wall Street firm JPMorgan has identified five homegrown companies that it says are world beaters. The five are: oil and gas shipper Malaysia Interna-, tional Shipping Corporation, utility firm YTL Power, air freight
      456 words
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  • GREATER CHINA/INDIA
    • 368 13 After mortgage scam, audit finds 30m yuan missing Reuters. AFP [BEIJING] Bank of China, t)ie country's second-larg-est bank, has found 16 new fraud cases involving 30 million yuan (Ss6 million) just two months after being rocked by a massive mortgage scam, state media
      Reuters.; AFP  -  368 words
    • 539 13 88% of Indians, 80% of Chinese bullish about economy's outlook Reuters [HONG KONG] India and China topped a global survey of consumer confidence, reflecting their rapid economic expansion which is boosting wages and job opportunities. Some 88 per cent of Indians
      Reuters; AFP, AP  -  539 words
    • 218 13 Reuters. Bloomberg [SHANGHAI] China's central bank declined to comment on newspaper reports that it may provide low-in-terest loans to some domestic brokerages to improve their finances. The central bank may offer a combined 60 billion yuan (5512.1 billion) loan to 12 brokerages, China
      Reuters.; Bloomberg  -  218 words
    • NOTE BOOK
      • 92 13 Reuters [KUALA LUMPUR] Malaysian state investment arm Khazanah Nasional Bhd yesterday bought a 4 per cent stake in the country's second-largest lender, Commerce Asset-Holding Bhd, for RMSO3 million (Ss22o million). Commerce told the stock exchange in a filing that Khazanah acquired 108.41 million shares
        Reuters  -  92 words
      • 93 13 Reuters [BAKU) India yesterday called for the Caspian Sea states to send more crude oil outside the Mediterranean and use the route via Israel to supply Asia and help cut India's dependence on oil from the Middle East. Indian Petroleum and Gas Minister Mani
        Reuters  -  93 words
      • 77 13 Reuters [NEW DELHI] Two block share deals worth US$22 million in Bharti Tele-Ventures Ltd, India's most valuable telecoms company, were done early yesterday on the Bombay Stock Exchange, trade data showed. The identities of the buyers and sellers in the deals of 4.3 million
        Reuters  -  77 words
    • 542 13 Bloomberg [BANGALORE] Intel Corp, whose chips power 80 percent of the world's personal computers, says PCs that can be purchased for 499 rupees (Ssl9) a month will help keep its annual sales in India rising by almost a third. "India
      Bloomberg  -  542 words
    • 489 13 India revives state asset sales but red flag ahead Reuters [NEW DELHI! Needing US$6 billion to fund projects for the poor, India's ruling coalition has revived its faltering state asset sales drive. Analysts, however, are worried that opposition from the coalition's communist allies could derail the project. Last month, the
      Reuters  -  489 words
    • 353 13 AP [SHANGHAI] European Trade Commissioner Peter Mandelson is to hold talks in Shanghai today aimed at settling a dispute over rising Chinese textile exports that is threatening to spread to the shoe industry. Mr Mandelson will meet Chinese Commerce Minister Bo Xilai
      AP  -  353 words
    • 318 13 Reuters [BEIJING] China has discovered a strain of bird flu that is deadly to humans at a farm in the far western region of Xinjiang, the latest outbreak of the disease scientists warn could cause a future global pandemic. More
      Reuters  -  318 words
  • Page 13 Advertisements
    • 169 13 |HH CdtriMretlMMfSSZ 2 uticcs9^kxoßj|! IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF STUDIO PRINT PRIVATE LIMITED COMPANY REQ. NO. 1993-*****-Z ON VOLUNTARY LIQUIDATION) NOTICE is HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound up voluntarily, are required on or
      169 words

  • ASIA-PACIFIC/WORLD
    • 707 14 Alleged roles of Arroyo's relatives raise doubt about her presidency AFP Bloomberg, Reuters, AP [MANILA] Philippine stocks slid yesterday, sending the benchmark to its biggest three-day drop in more than three years, after a woman testified that she delivered illegal gambling payoffs
      AFP; Bloomberg,; Reuters,; AP; Source: Bloomberg  -  707 words
    • 273 14 Van Cleef Arpels opens biggest store in Tokyo AFP [TOKYO] Jeweller Van Cleef and Arpels yesterday opened in Tokyo its biggest store in the world in hopes of boosting its share of the luxury market in Japan where it already does a third of its global business. Situated in the
      AFP  -  273 words
    • 691 14 Reuters [HONG KONG] China, India and Taiwan are Asia's top investment destinations as funds seek to leverage on an anticipated tech recovery and the growing importance of the region's domestic demand, a Reuters-Benchmark survey found. India, Asia's fourth-larg-est economy, and tech-de-pendant
      Reuters  -  691 words
    • 487 14 Bloomberg, Reuters [SYDNEY] Telstra Corp, Australia's largest telephone company, hired former Orange SA chief executive officer Solomon Trujillo to run the company, charging him with restoring investor confidence as the government plans a sale of its A 533.8 billion (5543.13 billion) stake. Mr
      Bloomberg,; Reuters  -  487 words
    • 410 14 Reuters [NEW YORK] The Philippines' biggest property developer Ayala Land Inc has launched a major drive to sell properties in the country to the millions of Filipinos working and living in the United States and Canada. The campaign could generate up to
      Reuters  -  410 words
  • Page 14 Advertisements
    • 231 14 Can toU-free 1800 299 8822/Eaall recruitCspli.coß.sg a a HPH Unitor has the marine industry's largest global supply network comprising 70 offices II II Iff and 154 agents and service providers in 75 countries. In 2004 Unitor made 170,000 deliveries to 15,000 vessels in 1,200 ports and 145 shipyards. Unitor seeks
      231 words

  • WORLD
    • 419 15 Current strong economic links are at risk: George Yeo AFP [LONDON] The European Union should build closer political ties with Southeast Asian countries or risk harming their current strong economic links, Singapore's Foreign Minister warned yesterday. Such a move would also enable the
      AFP  -  419 words
    • 487 15 LAT-WP [WASHINGTON] Convicted former World Com Inc chief executive Bernard J Ebbers is negotiating to settle a class-action lawsuit filed by investors in the nation's second-biggest telecommunications firm for an undisclosed sum, according to lawyers involved in the case. Former World
      LAT-WP  -  487 words
    • 272 15 NYT [SAN FRANCISCO] Worldwide semiconductor manufacturers are selling more chips this year than previously forecast because high energy prices have not dampened electronics sales as the industry had feared, according to revised figures released on Wednesday by the Semiconductor Industry Association. The organisation,
      NYT  -  272 words
    • 404 15 NYT, Bloomberg [NEW YORK] Fifteen brokerage firms settled charges on Wednesday that they gave preferential treatment to mutual funds with which they had lucrative stocktrading arrangements. The brokerages agreed to pay more than US$34 million to settle investigations by NASD, the securities
      NYT,; Bloomberg  -  404 words
    • 43 15 [KASSEL. Germany] Student Kirsten stands next to a coffin that looks like a travel bag in a museum in Kassel, central Germany. The exhibition called "Crazy Coffins"features 16 types of coffins and is open till Sept 4. AP
      AP  -  43 words
    • 327 15 AP [NEW YORK] Maurice "Hank" Greenberg resigned from the board of American International Group Inc (AIG), the insurance company he led as CEO for nearly 40 years and built into one of the world's largest. The resignation announced late on Wednesday was effective immedi- ately,
      AP  -  327 words
    • 282 15 LAT-WP [LOS ANGELES] The rich may not be different from the rest of us after all: like us, they're now worried that their children will have a tougher time financially than they did, a new survey shows. The results, the
      LAT-WP  -  282 words
    • WORLD WATCH
      • 77 15 AP [UNITED NATIONS] The four countries lobbying jointly for permanent seats on the Security Council Brazil, Germany, India and Japan said on Wednesday that they were dropping their demand for the veto power that the five existing permanent members possess. In a revised resolution,
        AP  -  77 words
      • 99 15 Bloomberg [LAUSANNE] The California Public Employees' Retirement System plans to increase its hedge fund investments in Europe and Asia to lower fees and diversify holdings. Calpers "walked away" from managers asking the fund to commit money for at least three years while
        Bloomberg  -  99 words
      • 81 15 Reuters [TOKYO] Philippine Trade Minister Juan Santos yesterday said he hopes to finalise a free trade agreement with Japan by the end of the year. The two countries clinched a broad free trade agreement last November, but Mr Santos said final details
        Reuters  -  81 words
      • 70 15 Bloomberg [SEOUL] South Korea's financial regulator said it hasn't considered allowing insurers to provide banking services, contradicting media reports last week. The Edaily Internet news provider and Korean newspapers said last week that the Financial Supervisory Service may allow insurers to offer banking and trust
        Bloomberg  -  70 words
      • 82 15 Reuters [LONDON] British insurer Britannic Group is in advanced merger talks with privately-owned rival Resolution Life Group, the Independent reported yesterday. The two companies are on the verge of announcing a deal which would value the merged company at up to £2.6 billion (557.9 billion),
        Reuters  -  82 words

  • AVIATION
    • 447 16 Asian airlines may take deliveries for 7,163 planes valued at US$770.2b in the next two decades Bloomberg [HONG KONG] Asia will surpass North America as the world's most valuable market for new aircraft by 2024, according to an estimate by Boeing
      Bloomberg; AP  -  447 words
    • 198 16 AP [NEW YORK] A former British Airways (BA) executive is starting a new airline this year to fly between New York and London. The new airline, called Eos and founded by David Spurlock, said on Wednesday it will begin business-class-only trans-Atlantic
      AP  -  198 words
    • 425 16 Reuters [CHICAGO] Northwest Airlines Corp, embroiled in contentious labour negotiations, is seeking flight attendants to replace those who may walk off the job if talks break down. An advertisement on Monster.com, a job search website, is soliciting applicants for a programme that trains flight
      Reuters; BLOOMBERG  -  425 words
    • 546 16 Analysts were expecting Airbus to announce a June start at Paris show Reuters [FRANKFURT/LONDON] Airbus parent firm EADS said on Wednesday that its board has approved the start of work on its new mid-sized A 350 model by the end of
      Reuters  -  546 words
    • 200 16 Reuters [LONDON] Ryanair chief executive Michael O'Leary has trimmed his holding in the company, selling six million shares at 6.5 euros each, Europe's largest nofrills airline said on Tuesday. The sale, worth around 39 million euros (5579.3 million), was handled by Davy Stockbrokers,
      Reuters  -  200 words
    • 385 16 AIRLINE CODES: AA: American Airlines (AAL), AF Air France (AFR), AI: Air India (AK), AY Finnair Oy (FIN), AZ: Alitalia Airlines (AZA),BA: British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR EVA
      385 words
    • 277 16 Bloomberg [DALLAS] United Airlines, American Airlines and Northwest Airlines Corp reversed a US$lO to US$2O fare increase on round-trip US flights started by United last week, halting a series of seven ticket price boosts this year. United, the world's sec-ond-largest airline, on Monday cut its
      Bloomberg  -  277 words

  • SHIPPING
    • 381 17  -  Balance of power in industry shifting to Asia, says shipping finance company By DONALD URQUHART [SINGAPORE] Citing the shifting balance of power to Asia, German-controlled shipping finance company First Ship Lease Ltd has announced it will shift its operations from
      381 words
    • 343 17 AP [WASHINGTON] The US Supreme Court has ruled that cruise ships must follow federal law that bars discrimination against disabled people, but left it for lower courts to decide what changes foreign-flagged ships will have to adopt. In a splintered ruling, a
      AP; BLOOMBERG  -  343 words
    • PORT SHOTS
      • 139 17 Xinhua [HONG KONG] The first quarter saw total port cargo throughput in Hong Kong fall 3 per cent over a year earlier to 53.6 million tons, the Census Statistics Department said yesterday. Within this total, inward port cargo fell 2 per cent to
        Xinhua  -  139 words
      • 70 17 Bloomberg [SHANGHAI] Shanghai Waigaoqiao Shipbuilding Co, China's largest shipyard by output, won an order to build two tankers worth US$l3B million, Oslo-based shipbroker Fearnleys AS said in a market report. The two tankers, which are so-called Aframaxes, can each haul about 600,000 barrels of crude
        Bloomberg  -  70 words
    • 878 17  -  ADMIRALTY CASEBOOK By SELVA KUMAR A SIMPLE call on VHF channel 16 by a container ship might have awakened the skipper of a fishing vessel and prevented his vessel from ramming into the container ship outside Sydney harbour last year, the Australian Transport
      878 words
    • 734 17 Widening swings in freight rates spur move into market Bloomberg [LONDON] ABN Amro Holding NV, the biggest Dutch lender, and JPMorgan Chase Co, the No 3 US bank, plan to enter the US$36 billion market for trading shipping futures amid widening swings in the
      Bloomberg  -  734 words
    • 213 17 Reuters [LONDON] British ports operator Mersey Docks Harbour has agreed to a takeover offer from rival Peel Ports which values the company at around £771 million (552.3 billion). Mersey Docks said Peel is offering 982 pence a share in cash, as expected. Peel will
      Reuters  -  213 words
    • 296 17 S6X '000 June 9 St Vol CH Offshore .0.37 0.01 MO ChuanHup .0.74 -0.01 440 Cosco Corporation 1.92 0.02 5023 CWT Distribution 0.66 unch 50 Ezra Hldgs 1-22 -0.01 47 Freight Links 0.06 unch 521 Grand Banks Yacht 0.96 unch 0 Java Holdings 1.06 0.01 967 K1 Venture
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    • 60 17 WI w 1 -eftr i Provision of tugs for f berthing /unberthing iii services within the of Singapore Swift Response Up to 30 days credit Value-added services No cancellaton/amendment charges Marina Offshore Pta Ltd Control Cantra For Enquiry, Tel: +65 6295 3311 (24 Hours) Roger: 9785 8593 Tel: +65 6226
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  • EDITORIAL & OPINION
    • 545 18 EDITORIAL SOME four months ago, US Federal Reserve chief Alan Greenspan pondered out loud the "conundrum" of low long-term bond yields. In a nutshell, he was vexed to see the 10-year Treasury yield hovering below the 4 per cent mark at a time when the economic data
      545 words
    • 1180 18  -  Trends suggest a multi-polar structure will emerge, instead of a China dominating the region By DALJIT SINGH IN the game of Asian power politics, India has been receiving increased attention of late, being wooed in turn by America, China and Japan. India
      PHOTOS: REUTERS  -  1,180 words
    • 741 18  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group IMMIGRATION is crawling its way back onto America's national agenda and not just as a footnote to keeping terrorists out. Earlier this year, the US Congress enacted a law intended to prevent
      The Washington Post Writers Group  -  741 words
    • 1362 19  -  A fund manager offers his personal valuation method to entrepreneurs struggling to put a price on their business By DAVID LIANG Recently, i had a conversation with a self-made millionaire businesswoman who was about to retire. She has owned and managed a jewellery-cosmetic retail operation for
      1,362 words
    • 995 19  -  By FLOYD NORRIS AP [PARIS] Is the euro in danger of dying before it reaches its seventh birthday? A suggestion by Italian ministers that the country hold a referendum on withdrawing from the common currency drew denunciations from much
      AP; AFP FILE PHOTO  -  995 words


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  • 3428 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local cur? to St to Utt X dy yr dy n dy iunti md«« Ch«n9» Chanq« cbingm Ch»oq« Pang* Omni Wati Indw Ptetewwiy 867.0 03 1.7 U M 03 -13 l tAfE Preliminary M53 00 43 02 -07 03 -U Europe Preliminary
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  • Page 22 Advertisements
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    • 983 23 m gjiSifaw WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VKSfI VOY SIN PJOANG COLOMBO W. SHtVA COLOMBO lAV BRIDGE 009W 06JUN 07JUN 10 JUN 13 JUN 16 JUN Kftrtfllfet WNTWrn 14JUH 17 JUN 20 JUN KOTA PfIWIHA YPWO6S 20 JUN 21 JUN 24 JUN
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  • Page 24 Advertisements
    • 1064 24 IASU WALLENIUS WILHELMSEN wobsito: http://www.2wglobol.com [VESSEL I IK MAO HOW lIUA SAV Ml OOF NYC WW MOO ITAMERIAM I AFSIS |320Tms I 6.4 M I 13/ M 02/07 11/07 IJ/07 11/07 H/07 TAIKO AFSI6 420T0M 6.4 M I 18/06 20/07 24/07 21/07 24/07 )0/07 |TARONOA AFSIO 1 320T0M 6.25« 20/07
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    • 688 24 BSA a. MYANMA ■n FIVE STAR LINE (Myanmar National Line) Loading for Yangon VESSEL VOY SIN PHI PEN PGU PAGAN 346W SIS HPA-AN 337W SID IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKL: 03-*****3 M PEN: 04-*****15 ACCEPTING CONVENTIONAL C6O VESSEL VOY HKG SIN PGU PKL KUC MARINE VICTOR 22 SLO SID
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  • THE BUSINESS TIMES SHIPPING TIMES
  • Page 25 Advertisements
    • 553 25 Guaranteed Sailing! I Service from Singapore to: I Los flngeles Keelunq I Weekly Consol. Twice weekly I Mon cut-off. Consol. I 14 days transit. on cu t-off I HUB MARINE PTE LTD BOOKING: *****375/716 MAINLINE: *****866 FAX: *****066 OPR CODE "DZ" CR NO **********0Z MARKETINO SALES: KELVIN CHUA: *****835, MEUNA
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    • 622 25 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 fftj IsJ^lfTa SHANGHAI SURABAYA XINGANG XIAMEN BEST LCL RATES TO AARHAUS ASHDOD BEIRUT BUENOS AIRES ligKij^H
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      390 words


  • SINGAPORE ARTS FESTIVAL
    • 565 27  -  Sulayman Al-Bassam tells SANGEETHA MADHAVAN his play is a political metaphor SANGEETHA MADHAVAN THE Singapore Arts Festival seems to be making a tradition of deconstructing Shakespeare. Last year, there was Othello in Lithuanian. This year, The Al-Hamlet Summit opening tonight plays out entirely in Arabic with a pan-Arab
      565 words
    • 572 27  -  By AARON LYE BRINGING a taste of the past back into the streets of Singapore's heartland that sums up the aims of Pasar Theatre, a project highlighting traditional Chinese art forms under the Asian Showcase of the Singapore Arts Festival Outreach Programme. To be
      572 words
    • 426 27  -  By KANNAN CHANDRAN PLAYING like a scene from a traditional match-made wedding, the groom came in, quite uncertain as to what to expect. The far-from-full house played the bride, and was somewhat restrained; coy but polite. Goran Bregovic had always let
      426 words
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    • 130 27 Valur Mrals al licit |mt hem llifli S lire choirr ol rol t rr/lr.i/sol HlriiaLs Menu Nasi Gorenq 9 Hainanese Chicken Rice m Katsu Don Kamponq Fried Rice f Sliced Fish Thick Beehoon Soup Singapore Laksa Fried Thai Style Kway Teaw (Pahd Thai) Grilled Chicken with Prata Bread Cordon Bleu
      130 words
  • Page 27 Miscellaneous
    • 238 27 CRYPTIC CROSSWORD 28 Place of hatred when power has been taken away (4) 29 Soldiers sitting down to eat is needed in the kingdom (7) tion? (4) cooked greens people on a 8 Award tot (so we hear!) for in- YESTERDAY'S SOLUTION mission (10) terfering (10) rtnuiN 11 Addition of
      238 words

  • ARTS
    • 767 28  -  MUSEUMS Mikhail Piotrovsky talks to PARVATHI NAYAR about how his museum stays relevant, and the possibilities of a Hermitage-Guggenheim presence here PARVATHI NAYAR ON his first visit to Singapore, the director of one of the world's greatest museums comes armed with a metaphoric tuning
      767 words
    • 327 28  -  MUSIC By NGIAM YING LAN CLARE Yeo, one of Singapore's most prodigious musical talents and the youngest (at 13 years) local recipient of the prestigious Julliard scholarship, is back with a one night only performance at the Esplanade. On July 17, Clare
      327 words
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    • 1702 28 A Rabobank Rabobank Head Office Croeselaan 18, 3521 CB Utrecht, The Netherlands Rabobank Singapore Branch 77 Robinson Road #09-00 SIA Building Singapore *****6 Executive Board Bert Heemskerk (H.), Chairman Rik baron van Slingelandt(D.J.M.G.) Hans ten Cate (J.C.) Bert Bruggink (A.) Piet van Schijndel (PJ.A.) Piet Moerland (P.W.) Supervisory Board Lense
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    • 465 28 THE COMPANIES ACT (CAP. 50) Company Reg No: *****7246E ECONOMIC IMPACT EDUCATION RESEARCH AND LEARNING CENTRE PTE LTD. (MEMBERS' VOLUNTARY WINDING UP) Al an Extraordinary General Meeting of the Member, of ECONOMIC IMPACT EDUCATION RESEARCH AND LEARNING CENTRE PTE. LTD. duly eonvened and held at 701 Geylang Road #04-04 Singapore
      465 words

  • CINEMA/ARTS
    • 625 29  -  FILM Mr Mrs Smith is undemanding, cinematic fluff, says GEOFFREY EU S GEOFFREY EU BASED on their killer looks and ability to sell tabloids, it should be fairly obvious that Brad Pitt is no ordinary John and Angelina Jolie is no plain Jane. This makes
      625 words
    • 771 29  -  MUSIC By KANNAN CHANDRAN AS a child of the technological era, Midori has bridged the old world with the new with little difficulty. Playing classical music on a 270-year-old Guarnerius del Gesu "ex-Huberman" violin obviously gives her a good grip on the past, while
      771 words
  • Page 29 Advertisements
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    • 151 29 ONORTHERN* i ggj- < "*fc ll' t |jk This Father's Day, get your Dad the ergonomically-designed recliner from Northern Comfort. Northern Comfort has both form and function that delivers the ultimate sitting experience. It provides both comfort and support to your body. Northern Comfort® collection offers a range of seating
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  • executive lifestyle
    • 599 30  -  off the cuff jaime ee WHEN I was a kid in school, two of the many things I generally failed at were spelling and learning to play the recorder. Like many things in life I regret, I rue not having excelled
      599 words
    • 978 30  -  PARVATHI NAYAR visits the Singaporea Pavilion at the prestigious 51st Venice Biennale to unravel the mysterious links between the down-to-earth Merlion and the higher realms of conceptual art PARVATHI NAYAR ENTER the Singaporean pavilion at the 51st Venice Biennale and you are confronted with functional black-and-white
      978 words
    • 503 30  -  By Parvathi Nayar AT noon today, Venice time, the 51st Venice Biennale will be formally inaugurated, marking the 110 th anniversary since its inception in 1895. This year sees a record number of 73 participants and projects, and for the first time, two Spanish women will
      503 words
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