The Business Times, 25 June 2005

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Microfilm: NL26284
Total Pages: 26
1 26 The Business Times
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  • Title Section
    Lock icon Masthead
    14 1 THE BUSINESS TIMES weekend SINGAPORE 85 cents MICA (P) 089/03/2005 June 25-26, 2005 onlineathttj*^^
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  • Article
    Lock icon MM Lee to PSA: Stay nimble to survive
    402 1  -  By CHUANG PECK MING [SINGAPORE] Danish shipping giant AP MoellerMaersk's $4.7 billion bid for Anglo-Dutch rival Royal P&O Nedlloyd the industry's biggest-ever takeover is a sign of the changing landscape in the shipping business and spells ever tougher competition for PSA Corporation,
    402 words
  • Article, Illustration
    Lock icon Tour agencies fly high with record bookings
    589 1  -  China emerges as top destination for Singaporeans during this school break By MINDY TAN, CHLOE CHOY ISINGAPORE] Kids aren't the only ones enjoying the June school holidays. The big tour agencies are on cloud nine, with record bookings to China. With business 15-20
    589 words
  • Article
    Lock icon MARKETS DIGEST
    140 1 STI 2,223.72 (+027) ST INDEX FUTURES 2.224.00 (unch) SIMSO 264.44 (-0.19) SIMSO FUTURES 265.00 (+0.20) MARKETS Friday Change KLSE COMP 898.08 -4.23 NIKKEI 225 11,537.03 -39.72 HANG SENG 14,230.29 +39.85 SET INOEX 690.25 -2.88 JAKARTA COMP 1,135.667 -1.757 MANILA COMP 1,947.21 -8.01 SEOUL COMP 1,002.43 -8.37 SHENZHEN B
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  • Article, Illustration
    Lock icon IN THE SWING
    61 1 IT'S Friday and time to take a break on the green. Doing exactly that was Dr Henry Tay. The executive chairman of The Hour Glass was one of some 200 corporate personalities who took part in The Business Times Ermenegildo Zegna Advertising Golf Tournament yesterday. For the
    ARTHUR LEE  -  61 words
  • Article
    Lock icon Movie studios watch as DVD distributors sweat
    812 1  -  Licensed distributors in S'pore feel the heat from parallel imports By WALTON MORAIS [SINGAPORE] Although sales of DVD movies by licensed distributors have been hit about 30 per cent because of competition from parallel importers, movie studios are taking a hands-ofT approach to
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  • Page 1 Advertisements
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  • TOP STORIES
    • Article, Illustration
      Lock icon Aberdeen private-client unit not taking new business for now
      597 2  -  By MICHELLE QUAH [SINGAPORE] Aberdeen Asset Management is taking a breather on one of its most lucrative and fast-growing businesses in Asia: its segregated funds division, which services high-end clients. And it's doing so, not because it can't handle the pace
      FILE PHOTO  -  597 words
    • Article, Illustration
      Lock icon Muddying the credit card business
      728 2  -  Fear of credit card security breach hits Singapore's shores By UMA SHANKARI [SINGAPORE] It started with a statement last Saturday by MasterCard, which warned that a massive security breach could expose more than 40 million credit cards of all brands worldwide to fraud. Singapore was
      728 words
    • Article
      Lock icon PSA workers far better off than in 2003: MM Lee
      530 2  -  By CHUANG PECK MING [SINGAPORE] Workers at PSA Corporation are fighting with management for parking space. Apparently, they are doing so well now thanks to the staff-backed wrenching changes taken two years ago that some are taking advantage of the
      530 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      689 2 James Hong buys 47% of Greatronic, makes offer GREATBONIC substantial shareholder Greatlink Electronics Co has agreed to sell its entire interest to James Hong Gee Ho for nearly $1 million. The sale consists of 64.9 million shares at 1.5 cents each, or 47 per cent of Greatronic. COMPANY
      689 words
  • Page 2 Advertisements
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  • RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Raising the bar
      1792 3  -  Gautam Banerjee of PwC tells MICHELLE QUAH what he believes corporate governance is all about MICHELLE QUAH WITH corporate governance the phrase of the moment, calls have increased for greater accountability and transparency a development which has made the duties of accountants more onerous. Interestingly, it is
      ARTHUR LEE  -  1,792 words
  • Page 3 Advertisements
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      Lock icon Page 3 Advertisements Column 1
      61 3 Raffles INTERNATIONAL Hotels Resorts The Baffles Conversation is brought to you through a special arrangement with Baffles International Hotels and Besorts. The Traveller's Palm in the Baffles International logo is an apt symbol. Not only has water stored at the base of this palm provided sustenance, the leaves rest in
      61 words
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  • COMPANY NEWS
    • Article
      Lock icon Nucleus insider-trading case adjourned
      314 4  -  By WONG WEI KONG AN insider-trading case involving two executives of mainboard-listed Nucleus Electronics has been adjourned until July 15 for now. The two sales director Looi Kim Wah, 39, and group financial controller Raymond Ting, 36 are expected to apply to the court for permission
      314 words
    • Article
      Lock icon James Hong buys 47% of Greatronic, maKes offer
      392 4  -  White knight's entry set to help group avert judicial management By CHEN HUIFEN GREATRONIC's substantial shareholder Greatlink Electronics Co the company controlled by its former chairman Huang Ming Lang has agreed to sell its entire interest to James Hong Gee Ho for
      392 words
    • Article, Illustration
      Lock icon S'pore banks seen making Islamic push
      561 4  -  FINANCIAL SECTOR By JOYCE KOH SINGAPORE banks could be trying harder to boost their Islamic banking business, according to a spokesman for the international ratings agency Fitch. But even so. prudence and strong financials will see the local banks maintain their stable credit rating
      FILE PHOTO  -  561 words
    • Article
      Lock icon Quicker arbitration for SGX derivatives
      313 4  -  By CHLOE CHOY COME July 1. derivatives traders and investors will have a faster and more cost-efficient way to settle any trade disputes. The Singapore Exchange (SGX) and the Singapore International Arbitration Centre (Siac) yesterday signed a memorandum of agreement (MOA) to put in place
      313 words
    • GRAPEVINE
      • Article
        Lock icon An even greater way to fly?
        79 5 RECENT suggestions by Australian politicians that their flag carrier Qantas Airways and Singapore Airlines should merge have naturally raised eyebrows. Many analysts question the wisdom of merging two profitable rivals, and reckon the costs may outweigh the benefits. But there could also be one
        79 words
      • Article
        Lock icon Wrong Cheer
        79 5 DBS-Vickers' decision to initiate coverage with a "buy" on Longcheer Holdings has elicited all sorts of snide comments from our broking contacts. "It's the wrong cheer," said one wit, while a variation is "people will surely jeer". For those who didn't follow the Longcheer saga, the company's IPO
        79 words
    • Article
      Lock icon STX Pan Ocean's parent wins ship order
      255 5 Bloomberg [SEOUL] STX Shipbuilding Co, the South Korean shipbuilder whose bulk-carrying unit STX Pan Ocean is eyeing a Singapore listing, has received an order valued at 166.7 billion won (***** million) to build three container vessels for a Japanese company. The vessels, ordered
      Bloomberg  -  255 words
    • Article, Illustration
      Lock icon SIA-Qantas merger idea doesn't fly
      1285 5  -  CORPORATE ANALYSIS It is but a red herring proposed by Australian ministers so Canberra could buy time to ponder a political hot potato, says VEN SREENIVASAN VEN SREENIVASAN IT WOULD have been laughed off if not for the fact that it came from key members
      1,285 words
    • Article, Illustration
      Lock icon So what is fuelling the STI rise to 5-year highs?
      490 5  -  STOCKS R SIVANITHY Senior Correspondent HIGH oil prices, sharp downward revisions in domestic growth, rising US interest rates and a weak Wall Street, yet the Straits Times Index sets new five-year highs. To borrow from US Federal Reserve chairman Alan
      490 words
    • Article
      Lock icon Creative Master warns of interim loss
      250 5  -  Sharper than expected fall in orders cited By JOSEPHINE TAY CREATIVE Master Bermuda has warned of an expected loss for its first-half year. The independent contract manufacturer of diecast collectibles, which has been listed on the Singapore Exchange mainboard since late 2003, said it
      250 words
    • COMPANY BRIEFS
      • Article
        Lock icon Comfort Group boosts bus unit stake
        51 5 COMFORTDELGRO Corp's wholly owned subsidiary, Comfort Group Ltd, has subscribed for an additional 4.5 million shares of $1 each in the capital of Comfort Bus Pte Ltd. Following the subscription, Comfort Group's shareholding in fully-owned Comfort Bus has increased from 500,000 shares to five
        51 words
      • Article
        Lock icon New share placement by China Sun
        83 5 CHINA Sun Bio-Chem Technology Group has proposed to place out about 26.8 million new shares through placement agent HL Bank at 42 cents per share to raise net proceeds of some $10.5 million to boost its capital base in anticipation of potential acquisition targets
        83 words
      • Article
        Lock icon Linair gets Taiwan nod for acquisition
        51 5 LINAIR Technologies yesterday said the relevant authority in Taiwan has granted approval for it to acquire a 70 per cent shareholding in Yang Jie Scientific Co. The acquired firm has been renamed Linair Technologies (Taiwan) Co, instead of Linair Bio-Science (Taiwan) Co as announced
        51 words
    • Article
      Lock icon UOB Thai unit to sell 23% stake in IPO
      191 5 Reuters [BANGKOK] A Thai brokerage unit of Singapore's UOB Kay Hian Holdings yesterday said it plans to sell 75 million shares, or 23.08 per cent, in an initial public offering. Some 55 million shares would be offered to the public and
      Reuters  -  191 words
  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      1582 4 SATS^y SINGAPORE AIRPORT TERMINAL SERVICES LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****1770G NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the shareholders (the "Shareholders") of Singapore Airport Terminal Services Limited (the "Company") will be held at Mandarin Ballroom, Level
      1,582 words
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  • PERSONAL INVESTMENT
    • Article, Illustration
      Lock icon BROKERS'TAKE
      883 6  -  Compiled by JOYCE KOH Frontline Technologies June 24 close: 12 cents DBS VICKERS RESEARCH, June 24 FRONTLINE Technologies turned the corner after a solid set of FYOS results. The group's strategy of focusing on three growth areas India, China and outsourcing should see it achieving higher margins and increased
      Source: Bloomberg  -  883 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      990 6 For week beginning Jun 20 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Subsantial Buy No of Prico SHAREHOLDING Trans Shareholder Sell Shares Per Before After Stock Date Director Conv '000 Shr S (000) (000) San Teh 23-Jun-05 Kao China Fong Nee Pan *Buy 70 0.32 575 0.20 645 0.22 San
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    • Article, Illustration
      Lock icon Lies, damned lies and statistics
      1595 6  -  SHOW ME THE MONEY Beware the inherent downside in painting a picture from compiled data TEH HOOI LING Senior Correspondent MORE than 100 years ago. HG Wells, an English author and historian, noted that "statistical thinking will one day be as necessary for efficient citizenship
      Compiled by BT with new data from S&P and Bloomberg  -  1,595 words
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  • BT INVESTMENT ROUNDTABLE
    • Article, Illustration
      Lock icon Equities better bet
      2950 7 OVERVIEW RECENT news on the economic front has not been all good. The market outlook is clouded by, among other things, the surge in oil prices and threats of protectionistic trade policies. Meanwhile, the low long-term bond yields have confounded many economists, including the US Federal Reserve
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  • SINGAPORE NEWS
    • Article
      Lock icon Glut in memory chips takes toll on Micron
      621 8  -  US-listed chips maker turns in first loss in five quarters -at US$128 million By RAJU CHELLAM [SINGAPORE] A global glut in memory chips used in computers and electronic devices has hit America's biggest memory chip maker, Micron Technology, which yesterday reported its
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    • Article
      Lock icon Condo prices in prime districts edge up
      595 8  -  By KALPANA RASHIWALA PRICES of centrally located condos continued to edge up in the second quarter, on the back of an increase in primary market launches and sales, latest figures by Knight Frank show. The firm said that based on caveats lodged in
      595 words
    • Article
      Lock icon More Singaporeans expected to visit HK
      329 8  -  By JEAN CHUA HALF a million Singaporeans are expected to hit Hong Kong this year up from 463:000 in 2004 following the opening of the world's latest Disneyland theme park there. The number of Singapore visitors to Hong Kong rose 75 per cent last
      329 words
    • Article
      Lock icon No veto rights for new UNSC members: George Yeo
      321 8  -  By CHEN HUIFEN SINGAPORE opposes giving veto powers to new permanent members of the United Nations Security Council (UNSC) because too many vetoes could paralyse the UN's ability to make decisions on critical issues. "A Security Council that is unable to
      321 words
    • Article, Illustration
      Lock icon M'sian fines not settled here: High Commission
      352 8  -  By SAMUEL EE THE Malaysian police has not appointed anyone to collect traffic fines on its behalf in Singapore, said the Malaysian High Commission. The High Commissioner to Singapore, N Parameswaran, has clarified in a letter that any moves to do so would,
      352 words
    • Article
      Lock icon No agent for M'sian fines
      186 8  -  N Parameswaran High Commissioner of Malaysia in Singapore I REFER to your article "Debt collector seeks payment of Malaysian traffic fines" (BT. June 22). The article stated that the company concerned (Haq Hana Associates) was "said to be the agent for the Malaysian traffic police".
      186 words
    • Article
      Lock icon Restrictions on SMEs loosened
      292 8  -  By JEAN CHUA THE government has been listening to feedback from small and medium-sized enterprises (SMEs) on the difficulties they face when doing business with government departments and agencies. Some rules are to be changed and barriers swept away, to help businesses tendering for government jobs.
      292 words
    • Article
      Lock icon New bankruptcies fall in May
      155 8 Reuters THE number of new bankruptcies in Singapore in May were lower than a year earlier, government figures showed yesterday, while the total number of undischarged bankrupts rose to a record. Latest figures from the Ministry of Law showed the number of bankruptcy orders including
      Reuters  -  155 words
    • Article, Illustration
      Lock icon Keeping PSA the preferred port of call
      1585 9 Excerpts of Minister Mentor Lee Kuan Yew's speech at the Singapore Port Workers Union's 59th anniversary dinner and dance yesterday AT your 45th anniversary dinner and dance in 1991, I counselled the PSA and the SPWU to get ready for the stiff competition
      BRYAN NEIL VAN DER BEEK/ST  -  1,585 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      4675 9 UNIT TRUSTS FUNDS Citi Global Healthcare Fund 0.98/ Citi Gib Fin Srvo Fund 107/ ABN Amro Asset Mgt (S pore) SB SdG^^MO^lZZZIZZITlW Star Ei»ope Eqty!" 0.811 s B Sel Gib Bus Ldre Ptfl03(USD) 1.172/ Star Europe Bond -24* Cittond S pore Class Y 0.977/ Star Europe Bal 1V s 8
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  • Page 8 Advertisements
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      28 9 PIMCO Global Real Return Fund a fund that is hedged against global inflation. Allianz (j|j) I Rated 5-star by Merccr Investment Consulting Global investors J company no *****7169Z
      28 words
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  • GOLF
    • Article, Illustration
      Lock icon A day out on the green
      476 10  -  THE BUSINESS TIMES ERMENEGILDO ZEGNA 29TH ADVERTISING GOLF TOURNAMENT By VEN SREENIVASAN [SINGAPORE] About 200 corporate personalities teed off for The Business Times Ermenegildo Zegna 29th Advertising Golf Tournament atTanah Merah Country Club's Tampines Course yesterday. Also playing in the event were several of
      PHOTOS BY ARTHUR LEE AND JENNY KOH  -  476 words
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  • APPOINTMENTS
    • Article
      Lock icon New head at Merrill unit
      184 11 The Business Times EXECUTIVES PROFESSIONALS Geoff Brunsdon gets promotion at Australian investment banking division Bloomberg [SYDNEY] Merrill Lynch Co, the world's second-largest securities firm, has promoted Geoff Brunsdon as head of its Australian investment banking unit. Mr Brunsdon will be "responsible for the day-to-day running
      Bloomberg  -  184 words
    • Article, Illustration
      Lock icon Shareholders approve Toyota's new president
      230 11 Bloomberg [TOKYO] Toyota Motor Corp, the world's secondlargest carmaker, said its shareholders approved appointing Katsuaki Watanabe as president, replacing Fujio Cho, who will become vice-chairman of the company. The shareholders also approved the promotion of Akio Toyoda to executive vice-president, the company said. Mr Toyoda,
      Bloomberg; AFP  -  230 words
    • EXECUTIVE MOVES
      • Article, Illustration
        Lock icon UOB's consumer banking chief retires in August
        79 11 EXECUTIVE vice-president and head of consumer banking for United Overseas Bank (UOB), Sim Puay Suang (above), will retire at the end of August. The 52-year-old first started out in corporate banking before setting up UOB's consumer banking business in 1988. Taking her place
        79 words
      • Article, Illustration
        Lock icon FEO appoints Arthur Kiong to head new hotel division
        137 11 FAR East Organization (FEO) has announced the appointment of Arthur Kiong (above), 45, as director of hotel operations. Mr Kiong will head the newly created hotel division within FEO, which will oversee the operations of the five hotels under the organisation
        137 words
      • Article
        Lock icon PwC names David Eldon as senior adviser
        160 11 PRICEWATERHOUSECOOPERS (PwC) has announced the appointment of David Eldon, former chairman of HSB Asia Pacific, as senior adviser to the firm. Mr Eldon, who retired in May after 37 years of service with the HSBC group, will assume his role on Sep 1.
        160 words
      • Article, Illustration
        Lock icon Mount Faber promotes Susan Teh to CEO post
        81 11 MOUNT Faber Leisure Group Pte Ltd has promoted Susan Teh (above) to chief executive officer. She has also been appointed chairman of Faber Tours Pte Ltd. The appointments took effect on June 1. Ms Teh was the brain behind the recent rebranding
        81 words
      • Article
        Lock icon CASBAA appoints new vice-president
        56 11 THE Cable Satellite Broadcasting Association of Asia (CASBAA) has announced the appointment of John Mediros as vice-president for government relations and regulatory affairs. Mr Medeiros will be responsible for overseeing the association's anti-piracy and regulatory activities across the 14 Asia-Pacific markets. He will report to CASBAA
        56 words
      • Article, Illustration
        Lock icon Blair adviser joins Hill & Knowlton as EMEA PR chief
        70 11 Blair adviser joins Hill Knowlton as EMEA PR chief STEPHEN Wall (above), formerly principal adviser to British Prime Minister Tony Blair on the European Union for four years, has joined Hill Knowlton as chairman of public affairs for Europe, Middle East and Africa (EMEA). He will report to Elaine Cruikshanks,
        70 words
      • Article
        Lock icon AEC Education appoints new chief executive
        55 11 AEC Education pic, provider of educational courses up to postgraduate degree level, has announced the appointment of Christopher Hutchinson as chief executive from Aug 1. He is currently the academic and operations director of the London College of Accountancy. Ramasamy Jayapal, chief executive of
        55 words
      • Article
        Lock icon Industry veteran Jonathan Mackay joins Celltick board
        67 11 CELLTICK Technologies has announced the appointment of Jonathan McKay to its board of directors. Mr McKay will be in charge of building and managing the company's advisory board. He is currently chairman of two UK-headquartered companies Exony, which specialises in software and services
        67 words
      • Article
        Lock icon New senior appointments at Galaxy Travel
        80 11 GALAXY Travel Distribution System Ltd has announced the appointment of Myron Ticlo as senior vice president-chief sales officer. Mr Ticlo, who is currently Galaxy's regional director of sales for the Americas, replaces Marco Gorin, who recently resigned. Mr Ticlo will lead and implement the
        80 words
      • Article
        Lock icon ADPIA elects Owen Lennie as new president
        50 11 THE Australian Direct Property Investment Association (ADPIA) has elected Owen Lennie as its new president, replacing Macquarie's Richers Cutler. Richard Cutler, chief executive officer of Macquarie Direct Property, the incumbent, finishes his two-year term as ADPIA president at the end of this month.
        50 words
      • Article
        Lock icon Freehills appoints 7 new partners
        61 11 FREEHILLS has appointed seven new partners. The appointments will be effective this July. In addition, the firm also annoimced the appointment of 9 special counsel and 47 senior associates. The seven new partners from the firm's litigation, corporate and banking and finance groups, and the
        61 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      291 11 SINGAPURA FINANCE ft*** FROM VISION TO REALITY We are an independent finance company currently seeking candidates for the position of: MANAGER (LOANS ADMINISTRATION) Reporting to the General Manager (Loans), you will be responsible in the overall supervision and administration of the Company's loan functions and processes. Candidates should possess a
      291 words
    • Advertisement
      Lock icon Page 11 Advertisements Column 2
      506 11 Our client, a public listed company in the infocomm industry seeking to appoint a candidate for the position of: 6BERAL MANAGER, INTERNAL AUDIT Reporting directly to the CEO and functionally to the Audit Committee, you will be responsible for identifying key risks with the departmental heads, and recommending cost-effective business
      506 words
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  • Page 12 Advertisements
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      Lock icon Page 12 Advertisements Column 1
      39 12 j/imP*Z^^^^^^^m.u j^E&fPpyl-S- I :fc r '-W_]fe.il^B ioHeI IB* H??t lilt H^ v r^>;,ftffiyfo*? ,£v« J. I 1 v I JU V- lv< S«2! c i££?' J >^n6i^dfcJjW»fc.aTHE STRAITS TIMES My daily fix. Can't start my day without it. AmirraFvouKLffE
      39 words
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  • SINGAPORE INTERNATIONAL
    • Article, Illustration
      Lock icon Thailand, Malaysia moving to a new investment beat
      1978 13  -  The booming economies of Thailand and Malaysia have created a demand for goods and services that S'pore firms are ready to meet, reports CHUANG PECK MING CHUANG PECK MING RISING affluence in Thailand and Malaysia is starting to attract a new kind
      1,978 words
    • Article
      Lock icon 'Dos' and 'Don'ts' of doing business
      351 13 MALAYSIA The law says you must have a local partner, especially in the services sector. And as the services sector is an expanding one with vast potential, Singapore companies planning to venture into Malaysia should seek to network with Malaysians and start identifying good
      351 words
    • Article, Illustration
      Lock icon Vote of confidence for Thaksin
      1248 14  -  Since Prime Minister Thaksin swept into power in 2001, the Thai economy has gone from strength to strength, writes STEVE BRICE STEVE BRICE WHEN Thaksin Shinawatra took over as Prime Minister in Thailand, the political system was notorious for changing administrations every 18-24 months. This
      Source: Standard Chartered Global Research; AFP  -  1,248 words
    • Article
      Lock icon A blip in growth
      379 14  -  By CHUANG PECK MING THE Thai economy sank in the first three months of the year, the first decline in four years, when the country's gross domestic product dipped a seasonally adjusted 0.6 per cent from the previous quarter largely a victim of the spike in
      379 words
    • Article, Illustration
      Lock icon Land of culture and creativity
      722 14  -  LETTER FROM BANGKOK LENA NG discovers Thailand is more than just the Land of Smiles LENA NG IF I may quote Tom Hanks in his hit movie Forrest Gump: "Life is like a box of chocolates". During my eight months' stay in Bangkok, the Land
      722 words
    • Article, Illustration
      Lock icon Perception vs reality issue for Abdullah
      1077 15  -  The growth figures are good, so why are Malaysians questioning the execution of the prime minister's policies? S JAYASANKARAN takes a closer look S JAYASANKARAN IN THE first quarter of 2005, Malaysia's gross domestic product in real terms expanded by 5.7 per cent. Now
      PHOTOS; REUTERS, AFP  -  1,077 words
    • Article
      Lock icon Will economy keep up strong showing?
      254 15  -  By CHUANG PECK MING MALAYSIA'S economy posted a better-than-expected 5.7 percent year-on-year growth in the first three months of the year, prompting Morgan Stanley to predict that growth for the full-year could hit 6 per cent, beating the official forecast of 5.8 per cent.
      254 words
    • Article, Illustration
      Lock icon The best of both worlds
      620 15  -  LETTER FROM KUALA LUMPUR Being posted to Malaysia is like working at a home away from home, MALER VILEE finds OUt MALER VILEE I NEVER tire of taking in the view from the 54th floor of the Empire Tower where International Enterprise Singapore's Kuala Lumpur
      620 words
    • Article, Illustration
      Lock icon Business as usual with Causeway neighbour
      1434 16  -  In fact cooperation has intensified with the recent warming in bilateral ties, says WONG WEI KONG WONG WEI KONG WITH bilateral ties on an even keel, investments by Singapore companies in Malaysia, including government-linked entities, have continued apace so far this year. There is
      NSTP; FILE PHOTO  -  1,434 words
    • Article, Illustration
      Lock icon A gradual managed float of ringgit likely
      601 16  -  Advocates of the unpegging of the ringgit think the government will have to act soon, reports CHUANG PECK MING CHUANG PECK MING WILL Malaysia unpeg and revalue the ringgit and if so, when? That's the question uppermost in the minds of those keen
      AFP  -  601 words
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      Lock icon Page 13 Advertisements Column 1
      39 13 This monthly series on Singapore companies overseas is jointly brought to you by The Business Times and IE Singapore The Business Times jrj The next in the series will focus on South Korea. It will appear on July 30
      39 words
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  • REGION
    • Article, Illustration
      Lock icon CNOOC's Western corporate culture
      683 17 BATTLE FOR UNOCAL LATWP [SHANGHAI] It conducts its board meetings in English. Its chief executive studied at the University of Southern California and is said to prefer Diet Coke to tea. Its headquarters sports a big electronic board displaying stock prices. And its executives are fond
      LATWP; REUTERS  -  683 words
    • Article
      Lock icon Chevron may raise its bid for Unocal
      306 17 Bloomberg. AP [HONG KONG/CHICAGO] Chevron Corp, the second-largest US oil company, may raise its bid for Unocal Corp, which announced it will begin talks with rival bidder CNOOC Ltd on the Chinese company's higher US$lB.5 billion cash offer. Unocal, which accepted Chevron's U5516.45
      Bloomberg.; AP  -  306 words
    • Article
      Lock icon Azman named Bolton deputy exec chairman
      583 17  -  Amin Shah said to have been elbowed out despite largest stake in company By S JAYASANKARAN in Kuala Lumpur MALAYSIAN property development company Bolton has appointed Azman Yahya as its deputy executive chairman in an extraordinary move that effectively enables the influential businessman to
      583 words
    • Article
      Lock icon KUALA LUMPUR STOCK EXCHANGE
      2346 17 »<K General Gxp 0.48 0.04 713 Jim 24 *I• dm Genting 18.80 -0.10 1053 George Kent .0*7 0.01 32 AIM Realty 1.45 -0.03 1 GHLSystems 334 -0.01 58 Abrit 038 unch 71 Globetronks Tech .0.43 -0.01 133 ACP Industries .0.74 unch 0 Glom*«hd._ 1-29 -0.08 301
      2,346 words
    • NOTE BOOK
      • Article
        Lock icon China Merchants bat for 20% growth
        96 17 Bloomberg [SHANGHAI] China Merchants Bank Co, the nation's biggest publicly traded lender, is targeting 20 per cent profit growth this year, in preparation for an overseas share sale, President Ma Weihua told employees last month. "The board has already put an overseas listing on
        Bloomberg  -  96 words
      • Article
        Lock icon Berjaya Land to sell stake in Sports Toto
        88 17 Bloomberg [KUALA LUMPUR] Berjaya Land, a property developer, plans to raise RM1.15 billion (Ssso6 million) by selling a 26 per cent stake in Berjaya Sports Toto, Malaysia's second-biggest lottery operator. Berjaya Land will sell the stake to Intan Utilities, a water treatment
        Bloomberg  -  88 words
      • Article
        Lock icon Citigroup sets up index for govt bonds
        51 17 Bloomberg [KUALA LUMPUR] Citigroup Inc, the world's biggest bank, said it has created an index to track Malaysian government bonds, giving investors a benchmark for investing in debt in the country. The Citigroup Malaysian Government Bond Index was introduced in Kuala Lumpur on
        Bloomberg  -  51 words
      • Article
        Lock icon India's trade deficit manageable: official
        53 17 Bloomberg [MUMBAI] India's trade deficit "appears to be manageable" as growth in imports is also spurring exports, said Y.V. Reddy, central bank governor in London on Thursday night "This order of the trade deficit appears to be manageable at this stage and is consistent with
        Bloomberg  -  53 words
      • Article
        Lock icon Samsung sets up insurance firm
        46 17 Reuters [SHANGHAI] Samsung Group, South Korea's top conglomerate, has set up a wholly-owned insurance firm in China to tap growing demand for insurance in the world's seventh-largest economy. Samsung Fire Marine Insurance is capitalised at 200 million yuan (5540.4 million). Reuters
        Reuters  -  46 words
    • Article, Illustration
      Lock icon Tsang takes over as HK's new leader
      457 18 Handling popular pro-democracy movement will be his top challenge AFP [BEIJING] Donald Tsang officially took over as Hong Kong's new leader yesterday, assuming the role for the next two years after taking an oath of office before Chinese Premier Wen Jiabao. The ceremony
      AFP  -  457 words
    • Article
      Lock icon SGX MAINBOARD
      7780 18 Transaction date: Jun 24 52 Wk Td Last Vol Day Last Quote Gri)iv Mr Grtld Nat MCap Hi0. Low Code Company Sale +<- (HOP) High Urn fciyr Mg Cvt W W 12 3 5716 1st Software 5c 4.5 +0.5 323 4.5 4 4 4.5 182 345 13.5 3148
      7,780 words
    • Article
      Lock icon China Construction Bk to seek up to 3 investors
      233 18 Reuters [SHANGHAI] China Construction Bank will seek up to three strategic investors, its chairman was quoted as saying yesterday, after the bank agreed to sell a 9 per cent stake to Bank of America Corp for US$3 billion. Construction Bank, China's
      Reuters  -  233 words
    • Article
      Lock icon No thanks: investors on CITIC's bonus share offer
      338 18 Reuters [SHANGHAI] CITIC Securities Co Ltd offered investors bonus shares on Thursday to sweeten a sale of stateowned stock, but incensed shareholders said they wanted more or they would torpedo the deal. The reaction was a further setback for over 40 firms
      Reuters  -  338 words
    • Article
      Lock icon Indian call centres taking action
      556 19 Co-operation with local and UK authorities to ensure security after data sale claims AP. Bloomberg [NEW DELHI] Indian call centre companies will work with local and UK authorities to ensure that customer data is protected, following a UK newspaper report on bank account details being
      AP.; Bloomberg  -  556 words
    • Article
      Lock icon Reliance not under inquiry by Indian govt
      185 19 Bloomberg [NEW DELHI] The Indian government said there is no official inquiry into Reliance Industries Ltd, the country's largest non-state run company, in which a family dispute over ownership was resolved over the weekend. "I may make it clear, there is no inquiry
      Bloomberg  -  185 words
    • Article
      Lock icon SGX
      5820 19 Transaction Date: Jun 24 MOST ACTIVE STOCKS VOLUME VALUE UniFiber 10c 26.010.000 DBS Grp 92.419.100 SingTel 15c 17.050.000 UOB 52.396.200 Man Wah HK40c 15.783.000 JSH US5c500 46.923.605 CapitaLand 12.042.000 SingTel 15c 45.893.430 ChinaEntSp 5c 11.413.000 NOL 37.333,464 SingPost 5c 10.623.000 CapitaLand 28.442.390 NOL 9.961.000 OCBC 27.872.275 Noble Grp HK25c
      5,820 words
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  • WORLD
    • Article, Illustration
      Lock icon Emirates Telecom out to gather phone licences
      744 20 It's expanding in emerging markets, beating rivals from S'pore to S Africa Bloomberg [DUBAI] Emirates Telecommunications Corp, which was expected to make an offer for a stake in Turkey's state-run phone company yesterday, is expanding in emerging markets by outbidding rivals from Singapore
      Bloomberg; BLOOMERG  -  744 words
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      Lock icon Lunch with Buffett – online auction starts
      645 20 Lunch with Buffett online auction starts Bloomberg [NEW YORK] The auction began at 10 pm Thursday New York time on EBay Inc's auction site. Jason Choo, a Singapore investor who won last year with a U*****,100 bid. has said he'll participate again this year. As of 12:01 am New York
      Bloomberg  -  645 words
    • Article
      Lock icon Yahoo shuts down user-created chat rooms
      524 20 Some of these sites were being used by adults for child sex Reuters [SAN FRANCISCO] Yahoo Inc, the most-used Internet site, has shut down all its user-created Internet chat rooms amid concerns that adults were using the sites to try to have sex with
      Reuters  -  524 words
    • WORLD WATCH
      • Article
        Lock icon Oil rises to record US$60 a barrel
        102 20 Bloomberg [LONDON] Crude oil advanced for a second day to a record US$6O a barrel in New York as surging demand forces producers and refiners to operate at full capacity. The Organisation of Petroleum Exporting Countries (Opec) is pumping almost as much crude
        Bloomberg  -  102 words
      • Article
        Lock icon US durable goods orders soar 5.5%
        72 20 Reuters [WASHINGTON] New orders for long-lasting US-made goods leaped by a larger-than-expected 5.5 per cent in May on a large gain in civilian aircraft orders, a government report showed yesterday. Excluding the volatile transportation category, orders for durable goods slipped unexpectedly by 0.2 per
        Reuters  -  72 words
      • Article
        Lock icon Alcoa restructuring to cost 6,500 jobs
        44 20 Reuters [NEW YORK] Aluminum producer Alcoa Inc. which already cut I,Boojobs this year, said on Thursday it v will eliminate a further 6,500, or 5 per cent of its global workforce, in a second phase of restructuring. —Reuters
        Reuters  -  44 words
      • Article
        Lock icon Citigroup, Legg Mason swap assets
        97 20 Reuters [NEW YORK] Citigroup and money manager Legg Mason Inc yesterday said they agreed to a swap of assets in a US$3.7 billion deal that will allow Citigroup, the No 1 US bank, to challenge Merrill Lynch Co for the top brokerage spot. Citigroup will
        Reuters  -  97 words
  • Page 20 Advertisements
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      459 20 NOTICE OF EXTRAORDINARY GENERAL MEETING by osim) OSIM INTERNATIONAL LTD (Incorporated in the Republic of Singapore) (Registration No. *****4191N) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held at 65 Übi Avenue 1, OSIM Headquarters, Singapore *****9 on 11 July 2005 at 6.30 p.m.
      459 words
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      Lock icon Page 20 Advertisements Column 2
      191 20 PELICAN MARITIME PTE LTD Co. Reg. No. *****0392K (In Members' Voluntary Winding Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act. Cap. 50. that a Final Meeting of the Members of the abovenamed Company will be held at 59A Neil Road Singapore
      191 words
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      Lock icon Page 20 Advertisements Column 3
      192 20 PROGRESS TANKER PTE LTD Co. Reg. No. *****6589 C (In Members' Voluntary Winding Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act. Cap. 50. that a Final Meeting of the Members of the abovenamed Company will be held at 59A Neil Road
      192 words
  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      170 20 CRYPTIC CROSSWORD include Penny whiou^pretenthat grows underground for 1 23 no* <rr (B h 24 UDbraid afool (4) 7 Tru| y pointless exchange of Across: 1 Churchill. 9 Rostra, 10 P w shots (5) Stimulate, 11 Recall, 12 Cautioned, DOWN 13 Eve carped travelling round 13 Lagged, 17 Ado, 19
      170 words
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  • SINGAPORE ARTS FESTIVAL
    • Article, Illustration
      Lock icon Played from the heart
      563 21  -  AL R DIZON is swept away by the Moscow Virtuosi Chamber Orchestra AL R DIZON THE Moscow Virtuosi Chamber Orchestra provided a fitting finale to this year's Singapore Arts Festival. The virtuosi aren't just a group of musicians who belong to the same country or who
      563 words
    • Article, Illustration
      Lock icon Minimalist rendition
      558 21  -  Hotel Pro Forma's Theremin is an intellectual exercise that ends with a coda of reality, writes PARVATHI NAYAR PARVATHI NAYAR A J CASUAL conversation on the history of contemporary electronic music would take most of us no further than the late 20th century, avant-garde, German band Kraftwerk, as
      AGNETE SCHLICHTKRULL  -  558 words
    • Article, Illustration
      Lock icon A stark close-up look at prison confinement
      572 21  -  By AARON LYE THE stage is in darkness. A gong echoes, getting louder as it is struck precisely, in time with a sombre procession of men, clad in prison blue-and-white, carrying austere straw mats and metal trays. It is quite a sight, almost
      FILE PHOTO  -  572 words
  • Page 21 Advertisements
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      813 21 Call toll-free 1800 289 8822 notkes®sphjCom^s^ IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF STEAG ELECTRONIC SYSTEMS SOUTH EAST ASIA PTE LTD (Co Rag No: 1995-*****0) (In Members' Voluntary Liquidation) NOTICE OF SPECIAL AND ORDINARY RESOLUTION (Pursuant to Section 290(2)(b)) At on Extraordinary General
      813 words
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      Lock icon Page 21 Advertisements Column 2
      719 21 Cißltfl-tree 1806 289 8822 MtkotipluMug IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF INTER-GLOBAL CYBERMEDIA PTE LTD (*****2233Z) INTER-GLOBAL GROUP PTE. LTD. (*****0979 D) INTER-GLOBAL PUBLICATIONS PTE LTD (*****5088 D) INTER-GLOBAL COMMUNICATIONS PTE LTD (*****2213 M) INTER-GLOBAL NETWORK PTE LTD (*****1720N) (PROVISIONAL LIQUIDATOR APPOINTED)
      719 words
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  • MOTORING
    • Article, Illustration
      Lock icon Racing against time
      794 22  -  DRIVING STYLE An amateur who races against professionals in the Porsche Carrera Cup Asia series, Alain Li likes cars that engage the driver, writes SAMUEL EE SAMUEL EE WHEN Alain Li gets into a Porsche or Ferrari, he doesn't use it as an expensive toy to cruise
      ARTHUR LEE  -  794 words
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      Lock icon King of the road
      500 22  -  The Mitsubishi Evo IX GT can be more rewarding than the GSR, says SAMUEL EE SAMUEL EE IT may seem strange in an age of status symbols and snob appeal that something which costs less may seem more desirable than something that costs more. Take the
      500 words
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      Lock icon Bigger and better DreamCars
      333 22  -  Expected 150,000 visitors will be treated to more cars, race queens, thrills, contests By JOE YEO THE successful Dream Cars Asia Motorshow returns to the Singapore Expo next weekend for the second year running. The show, which attracted over 100,000 visitors in 2004, is said to
      WILLIAM WHEY  -  333 words
    • BRAVE NEW WHIRL
      • Article
        Lock icon Mercedes-Benz S-Class – the next generation
        100 22 Mercedes-Benz S-Class the next generation THERE'S a new generation of that familiar symbol of opulence and gravitas. The next Mercedes-Benz S-Class (below) has a refreshed yet recognisable nose, but its profile has taken on some of the Maybach limousine's styling cues. The top-of-the-line model will also have pronounced wheel arches
        100 words
      • Article, Illustration
        Lock icon Sauber Formula One's Villeneuve hails takeover by BMW
        94 22 FORMULA One driver Jacques Villeneuve has welcomed BMW's takeover of his Sauber Formula One team, saying things can only get better. The Canadian still has a year to run on his Sauber contract, but he has had a troubled season so far.
        94 words
      • Article
        Lock icon Heading for the unknown at the Porsche Dine and Drive
        100 22 TO kick off its 20th anniversary celebrations, Porsche distributor Stuttgart Auto will be throwing a "surprise" dinner party for its customers next Thursday. But the real surprise of this Porsche Dine and Drive event appears to be the venue, or
        100 words
      • Article
        Lock icon Spectators in for a treat at AutoTrail motorsports debut
        67 22  -  Compiled by SAMUEL EE AS part of the inaugural AutoTrail motorsports event, Subaru distributor Motor Image Enterprises will organise a display of precision driving by Malaysian racing driver Sean Khoo. Among other stunts, he will perform drifting and reverse turn manoeuvres
        67 words
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  • WELLNESS
    • Article, Illustration
      Lock icon A step in right direction
      596 23  -  adidas' customisation software and foot scan will help you get the most comfortable shoes, says CHEAH UI-HOON CHEAH UI-HOON IT was picking the "look" that was the most difficult part for triathlete Adrian Mok when it came to customising his own mi adidas sports shoes.
      CHRIS LOH  -  596 words
    • Article
      Lock icon GO SPORTS SPECIFIC
      197 23 IT'S called the "filter down technology", where F1 technology is used in regular car design to make them safer and better. The same thing is happening in sports as well, with customised shoes (once the domain of professional athletes) and the use of elite training regimes. The
      197 words
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      Lock icon Shoes that mind your steps
      717 23  -  By CHUANG PECK MING THE shoe fits Cinderella, so she gets to marry her prince. Well, adidas' new running shoe offered for review fit me and I got picked to give it a test run. Getting to review the shoe is not on the same
      717 words
    • Article, Illustration
      Lock icon It's back to bare feet with Nike Free
      501 23  -  By CHEAH UI-HOON ATHLETES here can look forward to the next level of barefoot training when Nike Free's 4.0 strides into town in mid-July. Which isn't for any athlete, though, but specifically for those who've been using Nike Free's 5.0 version since
      501 words
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  • SHOPPING
    • Article, Illustration
      Lock icon BiG deal
      1034 24  -  Electronics and lifestyle retailer at Harbour Front Centre is a good-looking megastorewith Mustafa-type pricing, says CORINNE KERK CORINNE KERK AT 80,000 sq ft, BiG by Safe claims to be the biggest integrated electronics and lifestyle retailer in Singapore. Having said that, the truth is it could have been
      1,034 words
    • IN STORE
      • Article, Illustration
        Lock icon Easy wear
        43 24 UNDENIABLY Tod's, this elegant pair of loafers is a step in the right direction. Made of leather and suede, the two-toned Brooklyn gets its street cred from its easy wearability and uptown look. Available in red or blue trimming. Price: $700.
        43 words
      • Article, Illustration
        Lock icon Talk 'nf click
        141 24  - Talk 'n f click Compiled by MIKE CHUA THIS is not simply a mobile phone with a camera feature, says Philips, of its latest innovation. The clamshell has an ingenious swivel hinge that allows it to fold open and rotate, leaving users with a genuine 1.3 Mega pixel digital camera
        141 words
    • Article, Illustration
      Lock icon Designer styles at low cost
      409 24  -  By CORINNE KERK THE furniture market may be crowded, but that hasn't stopped Sesdaq-listed Nobel Design Holdings from' opening its latest retail concept home2be. Positioned as a low-cost furniture store with European-style designs, the 7,500 sq ft home2be at Nobel's headquarters on Joo Seng Road
      409 words
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  • PERSONAL SPACE
    • Article, Illustration
      Lock icon Surgery and all that jazz
      1032 25  -  Plastic surgeon Ivor Lim has the quintessential eye for lids and tits, tucks and sucks and more, says GEOFFREY EU GEOFFREY EU BEING a stickler for detail is a character trait that has served Ivor Lim remarkably well first as a schoolboy who loved to
      ARTHUR LEE  -  1,032 words
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      770 25 wine&dine withweekendßT Amalfi The Italian Pizza Place Latin Pop music Please call us for more details on the "1 For Saturday, Sunday and PiiikcHofiday are $3S+-H-(a(M0 and Styreme orKatsuDon at $7.50 nett, indusive of a cup of 3E River Valley Road, Traders Market (Clarke 1" special promotion. torn ojfl«"d"sive of
      770 words
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  • THE BUSINESS TIMES weekend
    • Article, Illustration
      Lock icon An organic taste
      1089 26  -  These restaurants not only dish out healthy food, but also a wholesome lifestyle, says CHEAH UI-HOON CHEAH UI-HOON LILY Ko embodies the classic organic/vegetarian restaurant owner that we expect to find running such restaurants. Purveyors of the philosophy of holistic, healthy living, they don't just dole out
      ARTHUR LEE  -  1,089 words
    • Article
      Lock icon Places to visit
      658 26 Bunalun 43 Jalan Merah Saga Chip Bee Gardens Tel: 6479-2598 THE retail store is open daily. For food, the full menu is served from Tuesdays to Sundays only. Here's an organic place where you'll get food that's taste-led, rather than just being health-minded. Former Les Amis chef
      658 words
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